Ethos x Baked Beans — Partnership Announcement
Ethos has partnered up with Baked Beans (bakedbeans.io), one of the newest and most promising entry in the ‘token miner’ meta.
Ethos is proud to announce its partnership with such a fun and ‘meme able’ project as Baked Beans. Ethos will provide development and auditing services to the Baked Beans project.
Intro to the ‘Miner’ Meta
The term “miner” is a bit confusing as there is no mining involved. The concept is simple: you deposit tokens in order to hire imaginary miners that will mine tokens for you forever (you cannot sell them back). You earn interest based on the value of your miners. Websites advertise “Earn 5% daily” but it’s not really 5% of what you deposited as it depends on the current value of your miners and it changes all the time as people buy or sell.
- You deposit tokens in the contract to hire miners
- The miners “mine” eggs/tokens, which accumulate in your name in the contract
- At any time you can decide to either compound or sell what you have mined
- Compounding/hiring more miners is using what you mined to get more miners
- Selling/pocketing is taking what you mined out of the contract to your wallet
While bakedbeans.io may belong to the group of projects categorized as ‘miners’, it prefers to to call itself a BNB Reward Pool. Instead of ‘hiring miners’, users can ‘bake beans’ to earn higher daily rewards than most of its competition.
The act of ‘eating beans’, refers to withdrawing earned rewards from the pool, while ‘re-baking’ is analogous to compounding.
Baked Beans Metrics
Daily Rewards — 8%
Dev Fee — 3%
Referral Bonus — 12%
Baked Beans sports some of the healthiest metrics in the ‘miner’ space. It’s 8% daily return is one of the highest, and a 3% Dev fee is simply the lowest in the space, allowing more rewards to stay in the pool.
Community Bean Art Competition
Baked Beans is currently conducting a community competition to raise awareness for the project in a fun way which also produces some of the most hilarious bean-related art.
Users are tasked with creating their own unique ‘bean’ character and be rewarded with BNB just for submitting! There are also prizes for the top 3 entries. Some of the current entries include:
Baked Beans provides a 12% referral bonus system for all users in order to incentivize sharing and spreading the word.
Users (who are already in the pool) can connect their wallet to the bakedbeans.io website and get their referral link at the bottom of the app.
By proving their referral link to other potential users, they receive a 12% bonus of the fees generated by all their referred users!
The Baked Beans smart contract is verified, open source, immutable, trustless and is visible here on BSCScan.
Once the Baked Beans smart contract was deployed, the development team is no longer needed for the contract to continue operating as intended. Everyone has access to read/audit and interact directly with the code and make their own decisions as they see fit. Once the contract was deployed it can’t be stopped nor changed by anyone for any reason, not even the Baked Beans team has access to change or take anything from the contract.
Baked Beans is a decentralized tool that gives users totally free access to its inner and outer workings so that they may make a well-informed decision on it’s usefulness to their intentions. All other work performed by the Baked Beans community and/or team is purely optional, not necessary for continued operation and should be viewed as nothing more than charitable community contributions.
Like all other games, there are various strategies that users can utilize to get the most success.
Baked Beans is for users who want long term profits and sustainability, not for instant profits.
While the Baked Beans algorithm ensures that all users receive their fair share of rewards long term, it also favors its most supportive participants through its re-bake/compounding option.
Strategies are personal, you either strictly re-bake (compound), strictly eat beans (pocket rewards) or you do a healthy combination of both. In our opinion the best strategy is to compound as often as profitable, considering transaction gas. Once you’re happy with your daily, weekly or monthly results, take profits as often as you see fit and simply continue compounding the rest.
The Baked Beans team is filled with active and exciting members, all driven to make the project a success. It’s definitely a long term development project and not one that will be ‘created-and-abandoned’.
While the project itself doesn’t need much ongoing development, it plans to utilize Ethos’ development expertise to create a unique generative-art NFT drop mechanism for its users. This is clearly something very unique in this project category.
It also has a long term vision to attract users and to grow the size of its reward pool by continuing to market. They will keep the community active and engaged by using competitions, giveaways and challenges related to its self-admittedly ‘cheesy’ (or ‘beany’) aesthetic.
Furthermore, the Baked Beans team will utilize Ethos’ auditing service to provide verification of its contract’s safety and security to its userbase and community.
The Ethos team sees a great potential for Baked Beans to carve out a sizable niche, and we are exciting to be working with such a fun and engaging project.
About Baked Beans
Baked Beans is a fun spin on the Token Miner meta. It’s a simple smart contract which acts as a BNB reward pool, returning back 8% of your BNB in the pool on a daily basis, every day as long as there is still BNB in the reward pool! Users can choose to eat their beans (take their BNB rewards) or re-bake their beans (compound earned BNB rewards) as they accumulate.
Just bake your beans, have fun and enjoy your bean rewards as they bake!
Ethos is a a wholistic crypto services organization which specializes in bringing additional security to the crypto space by applying a proven and standardized approach to token and platform smart contract auditing. Ethos’ team of experienced developers bring decades of development and code auditing history from the traditional software development world.