This weekend one Base token is going UP parabolic📈
Why we write about it here? -> It's not a meme, but an asset with a cashflow.
When this cashflow went parabolic, token price followed. Not vice versa.
Token is $BEAN (
https://x.com/minebean_)
It's a lottery-style game:
• You need to select one square from 5x5 field (25 squares in total)
• Every minute, there is a round with placing stakes ($ETH)
• When round ends, the winning square is randomly selected
Mechanics (Win vs. Lose vs Fees)
• Winner(s) receive all $ETH deployed minus fees + 1.3 $BEAN emission on each round (1 Bean could be won by 1 player or split between all winners). Also, there is a BeanPot, that accumulates the remaining 0.3 Bean as a jackpot thing.
• Fees: 1% from all stakes, and 10% from $ETH that lost (remaining 24 squares)
• Protocol revenue is this 10% of $ETH that lost
Token value capture: what happens with protocol revenue?
• $ETH is used to buyback $BEAN
• 90% of purchased $BEAN is burnt
• 10% of purchased $BEAN goes to $BEAN stakers as a staking reward
Stats:
• $263k of fees only today, growing from $32k 3 days ago (token FDV now $16.6M, $6.9 liquid mcap at $293 price)
• 7,626 $BEAN is staked earning 463% APY in $BEAN (not emission, purchased using 10% of fees)
• 1.3 $BEAN issued every round (1 minute) and 1.7-2.5 is burnt, meaning net deflation -0.4-1.2 $BEAN per round with average
Valueverse's favorite part:
• Direct cashflow multiplier is complicated to calculate due to very early situation (revenue & eligible supply too volatile), with 463% APY it is simeting like ~0.22x (super low)
• Taking -0.5 BEAN per minute deflation as a benchmark and 57,046 $BEAN current circulation it means -262,800 $BEAN deflation per year. I don't know yet how to calculate multiplier correctly.
• It evolves so fast that it is complicated to assess these metrics in traditional ERM multipliers style
Disclaimer: we are not affilated with this project, just sharing what we found in X and checked out since it looks really interesting -> adding revenue-focused token design to lottery apps, instead of doing useless memecoins. This post is for education purposes only.
NFA, DYOR, as usual.
