Hacked Stablecoin Beanstalk Farms is raising $77 million in over-the-counter loans from private investors to restart the project.
It is reported that the Beanstalk DAO has recently approved a governance vote for related loan financing. The team plans to issue new tokens to OTC lenders, claiming to pay a 500% yield until the loan is fully repaid, but it is unclear who will contribute to the loan to Beanstalk.
It was previously reported that on April 17, 2022, the Stablecoin project Beanstalk DAO was hacked, causing losses of up to $182 million. BeanStalk is a decentralized credit-based Stablecoin protocol consisting of three interconnected components: a decentralized price oracle, a decentralized governance system, and a decentralized credit facility.