Annuity in DEFI earning 8% per day


The contract has a $7.5M balance and growing

I’m financially responsible for my own actions

Do your own research. This is not financial advice. Risk only what you can afford to lose.

Baked Beans has a lot to like about it. It’s like a variable annuity that pays an income stream. Right now its paying 8% per day but that can change as the TVL changes. They are encouraging investors to rebake (compound) 6 days and eat beans (withdraw) 1 day. This strategy will quickly grow your deposit but not strain the treasury. If you withdraw more frequently they can lower your percentage return.

They charge a 3% dev fee for deposits and withdrawals which is fair and low compared to competitors. Another thing I like are the low transaction fees. My initial deposit of .25 BNB was $.29 and my first rebake was $.11. Other projects I’ve invested in on Binance Chain cost $.75 to $1.00 for similar transactions.

Let’s talk a little about annuities and how Baked Beans compares with traditional finance. An annuity is a contract with a life insurance or financial company whereby you deposit a lump sum payment or periodic payments or both and receive a stream of payments for a specified time. The financial company invests the funds in stocks, bonds and other securities such as mortgage backed securities. As long as these investments are growing to support the payment stream to annuitants everyone is happy. With Baked Beans and similar DeFi apps the investment is BNB. If you believe that DeFi and BNB will continue to grow then now is the time to invest. In the past 24 months the price of BNB went from $17 to $400. 4.5M unique addresses either bought or sold a Decentralized Finance (DeFi) asset worldwide from December 2017 to March 21, 2022. There are literally billions of people that eventually will use DeFi. So the future growth potential is huge. Will 8% daily return continue? Probably not. As demand for the product rises the return will be lower. So get it while you can, it’s still early.

Here’s the Baked Beans DeFi App website

You will need BNB in your wallet. I connected with Metamask. WalletConnect provides other options.

How To Bake Beans

Once you connect your wallet, the page starts displaying the following details:

  • Contract- Total amount of BNB locked in the contract
  • Wallet- Your wallet balance (BNB balance)
  • Your Beans- Beans acquired by you (currently zero as we have not deposited anything yet)

Enter the amount of BNB coin you wish to deposit into the contract and click on Bake Beans. Then, this will generate a Metamask transaction that you need to confirm. Once the transaction is done, you will get some Beans (see the below screenshot).

The average daily ROI is 5–8%. Now, let’s see its main features:

  1. Your Beans- Generic term for Beans Smart contract balance. Shows the amount that users have acquired after depositing BNB into the protocol. These Beans do not have any fixed price. The Beans/BNB price fluctuates and it depends upon the TVL locked in the contract.
  2. Baked Beans- The process of depositing BNB. Users need to pay the gas charges and a 3% dev fee upon deposit and withdrawal.
  3. Re-bake- Process of reinvesting your accumulated rewards. The minimum re-bake is 0.01 BNB. If you wish to do more deposits (BNB), then the deposit amount along with the earned reward is reinvested, and your Beans value will increase.
  4. Eat Beans- Process of withdrawing BNB accumulated as a reward. BNB is withdrawn to your connected wallet.
  5. Your Reward- Amount of BNB earned as a reward over time from your Beans.

Referral System in Baked Beans

You can share your referral link with other users and earn a referral bonus. When a user adds BNB by using your referral link, you will earn 12% of their Beans purchase. This value will be deposited in the “My Rewards” section.

In my next article I will share my experience with the referral system, withdrawing, and how beans work. You can help by using this link to deposit.

Baked Beans DeFi App