BNP-1: Basin BeaNFT Collection

Proposer

blc

Introduction

The Basin BeaNFT Collection is a series of up to 10,000 BeaNFTs that can only be rewarded to liquidity providers in the BEAN:ETH Well, following the passage of the upcoming Basin Integration BIP that whitelists the corresponding LP token. The Basin BeaNFT Collection will be centered around the aquatic theme of Basin. Expect to see BeaNFTs prepared to handle the conditions (surfers, snorkelers, etc.).

The previous BeaNFT collections can be found on OpenSea, with their respective announcements:

• Genesis Collection on OpenSea | BeaNFT Genesis Collection Announcement
• Winter Collection on OpenSea | BeaNFT Winter Collection Announcement
• Barn Raise Collection on OpenSea | BeaNFT Barn Raise Collection

Refer to BOP-3: Form the BeaNFT DAO for more info on the benefits of being part of the BeaNFT community!

The launch of Basin is a significant milestone in the development of the Beanstalk ecosystem. The newest addition to the Beanstalk-native composable DeFi tech stack deserves a new commemorative collection of BeaNFTs to mark the occasion.

Earning Basin BeaNFTs

To earn a Basin BeaNFT, Farmers are required to deposit a minimum of 1,000 BDV into the BEAN:ETH Well in the 600 Seasons following the commitment of the Basin Integration BIP and hold the Deposit in the Silo for a minimum of 600 Seasons. The longer the Deposit is held, and the larger the BDV of the Deposit, the greater the rarity of the BeaNFT rewarded.

There will be up to 10,000 BeaNFTs generated for Farmers to earn. The 10,000 highest scoring Deposits (see Assignment section) will be rewarded the BeaNFTs.

Rarity Boosts

Farmers can receive rarity boosts for the BeaNFTs based on the BDV of the Deposit, duration of the Deposit and any historical participation in the BeaNFT community.

The 100 Deposits of the highest BDV will receive a 5-20% rarity boost and the 100 Deposits held for the greatest number of Seasons will receive a 5-20% rarity boost.

Farmers holding BeaNFTs from past collections can receive a 10% rarity boost per BeaNFT held in the qualifying wallet, up to 2 BeaNFTs per collection.

Assignment

Deposit size, duration and any rarity boosts will factor into the scoring of the eligible Deposit. Deposits will be scored and ranked, with BeaNFTs assigned to each Deposit in descending order from most rare to least rare.

BeaNFT eligibility will be triggered 600 Seasons after the qualifying Deposit is made. If a Farmer is daring enough to hodl their Deposit for 1,200 Seasons, their BeaNFT will get upgraded with a lil’ easter egg.

Issuance

Basin BeaNFTs will be available to mint on the BeaNFT pages of the Beanstalk UI after the 1,200th Season following the whitelisting of the BEAN:ETH Well. Easter egg upgrades will be shown on the BeaNFTs after the 1,800th Season following the BEAN:ETH whitelisting.

Governance

Basin BeaNFTs will have 1 vote each in BeaNFT DAO governance.