Beanstalk Stablecoin Protocol 'Barn Raise' Aims to Restore $77M in Lost Funds

Decentralized stablecoin protocol Beanstalk announced the launch of a fundraising campaign, "The Barn Raise," aimed at restoring $77 million in liquidity lost due to the governance bug. “The Barn Raise” fundraiser will begin at 16:00 UTC on June 6 and last until all of the so-called fertilizer tokens are sold. As part of the fundraiser, Beanstalk will also launch a 10,000-item non-fungible token (NFT) series, The Barn Raise NFT Collection, which will be made available to the first participants contributing at least 1,000 $USDC before the protocol’s relaunch. Previously, Beanstalk was attacked by flash loans in April of this year, with losses of about $182 million.