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Scrib3 Comms Weekly #6

Date
April 19, 2023
Timestamps
ā€¢ 0:00 Introduction ā€¢ 0:21 Social update ā€¢ 2:40 Beanifesto ā€¢ 5:31 Long form update ā€¢ 9:16 PR update ā€¢ 13:15 BD update ā€¢ 25:30 Sunrise improvements ā€¢ 35:43 Silo v3 ā€¢ 1:02:02 Deployment of Wells ā€¢ 1:28:20 Closing statements
Type
Scrib3

Recordings

Meeting Notes

Transcript

awesome okay um so um so couple things and then the main thing I want to do is pick your brain about Mayflower um so I think that's where we'll spend kind of majority of the time um so okay on social um social is going okay I mean we're not super excited by how it's going you know we I mean we crossed 100 which is good but uh you know I think we uh have higher expectations for what we typically do um we have a new guy coming on next week who's going to be helping out on the meme side um I I won't ruin it for who you guys who it is but he's pretty well known on CT as a poster um so he's gonna help come at a lot more uh memetic Firepower let's call it um to the socials we feel like that's kind of the punch that's missing a little bit um so we're gonna get him up to speed pretty quickly and he's gonna be helping out Madison there the the you know it's yeah like I mean we're open to suggestions and feedback um you know we've been trying to mix up the content you know not only are we just doing like the educational threads and then like the thread of threads but you know we're trying to throw in some quizzes and engagement type stuff throwing memes up there um wanted to ask about Twitter blue um you think is this something that you guys uh would help out with or you want us to just grab it I think I mean like you know everyone knows kind of since the algo came out that it does have a pretty big boost um so it's not like it's a it's a crazy little cost lift or anything so I don't know if if it's like you guys would rather handle it for I don't know packs or accounting reasons or you want us to kind of put that together no preference but if you want us to pay seven bucks a month we'll do it okay cool um yeah I appreciate that yeah I think that'll help kind of get us a little bit rank a little higher because the engagement's there I mean you look at like even our most average posts like you know for a hundred something follower account like the engagement's pretty crazy um I guess like engagement to follower ratio um just you know like uh you know we have like random tweets that'll get like 25 likes um even like one-liners and like single tweets and stuff so the engagement's good the followers and stuff haven't been great so we think Twitter blue might help push us in the I'll go a little more and get us up a little bit um but yeah you know the threads are threads are still coming out we're mixing it up a little bit we have another meme guy coming so you know we're trying to kind of double the Firepower on bean Bull and bean Farmers um so something to keep an eye out for there um so um okay I guess we could hit Bina festo um so so just so everyone's in the loop um you know we're working on uh doing this longer term uh being a festo planning um and so um we're trying to do the whole road map all right we're trying to get people excited about what's coming down the pipeline and get an idea about this entire ecosystem being built and that's not only just like what's happening on BF but uh you know I see sea Mills is here it's like you know we're trying to chat with irrigation and Roots as well um so we're setting up convos there so that you know we want to get the full download from you know BF right so we're gonna chat with uh with guy towards the end of this call about [Music] um about Mayflower and then tomorrow we're chatting with poobs after the Dow call which you know you guys are more than welcome to join uh but we're chatting with pooves and they're going to give us a better rundown of kind of Wells pumps and uh mostly the smoke and the stock engage system and so what we want to do is essentially do like this whole big road map piece so that we could kind of get it out there a little bit more and kind of show people like hey you know uh don't we'll look at like 90 Cent stable coin right now but look at hey what about when this thing gets back to a buck and like the opportunities and and you know uh and kind of joining the the ecosystem for the right reasons of like Hey we're building this thing where you know we really believe in this concept and this thesis about the way money should be all that kind of stuff um so it's gonna be a little bit of a process but that's kind of our process that's our plan right now for the month of May uh so we're gonna do Roots uh we're gonna do irrigation we're going to cover all the bean stuff we're gonna put it all Under One Roof we're gonna put out a ton of content about it um so that's what to keep an eye out for in May but uh in we still have everything in here for to take us through May um so giving you idea about hey this is you know the content that's going to come out uh we we do need to finalize the q1 metric so we'll do that towards the end of this call as well but um yeah you know the the regular content is still going to be coming out um and then that'll take us hopefully to the end of next week and then by by this we can get a really good idea of of putting together um all of that and then that'll help give us a better idea of when Wells is launching so that we can plan around Wells lunch um which hopefully should be something in kind of just June July range but uh we'll get the update from BF there um so um so yeah so on the bean side Mayflower Wells pumps stock engage system um let's hit uh yeah let's just hit long form right now um I know we wanted to kind of get a little bit of a check in um on the kind of q1 metrics and stuff um I know guy you got a little bit of a chance to read into it but any thoughts there um Rob if you have any questions oh yeah yeah I was asking for your thoughts guy hey go ahead guys uh yeah Randy you wanna you wanna take it away we had a quick conversation yeah we just we just hopped on a quick call uh last night and worked out some of the key points and I think some of my um reasoning behind like the metric analysis was a bit off and God gave me some it's on how to correct that so it should be looking pretty good I'm gonna get to work on those edits today and yeah I mean it's overall in a good place just needs to be tuned up a little bit it's going to be a good Baseline for for being as at right now and opportunity to show marked improvement uh once that does come in the future so yeah ldr on the piece yeah so it's going over all the key metrics for q1 uh as it pertains to Beanstalk everything to do with like the three curve pool uh new beans minted and all that good stuff um yeah that's it's it's basically like a quarterly quarterly report Style yeah um yeah we want to just yeah I mean just just want to briefly say uh you know I was just telling telling Rob that you know I know you guys had like a a hope or plan to get one of these blog posts out every Monday but from my perspective you know want to make sure we do it right rather than fast and you know think that the investment in uh you know getting things right will pay off in the future so I just wanted to say I'm not personally not to Robin can you meet I'm getting a little bit of feedback um I was just gonna say that uh you know personally not too worried about getting out on the dot uh if it you know takes a few more days to you know do some rounds of feedback so just a heads up on that front yeah definitely totally agree especially early on um you know it's more important for us to get it right um that get it you know consistently every time um so yeah and especially as we start to you know um and every day we're still learning more and more you know we definitely feel like we have a pretty great grasp but um yeah you know like obviously you know no one's gonna have a better idea than you guys at BF and because you know you guys spend all day on this and uh so you guys are definitely gonna have a better core understanding of the intricacies so yeah more than happy to kind of like you know take it take a beat and um you know it's something that we push but um you know totally understand that like you know quality over quantity so um definitely heard there um and then just on a quick uh aside on um other pieces that are coming up is uh we'll get this counting beans one we have a flavor of kind of stable coins and some more kind of like stable coin uh um call it educational content and then um hopefully you know and then we we're gonna start putting together kind of everything for long form four um uh for for the kind of road map and beanifesto so um just what you can keep an eye out there on the long form content side um on the pr side uh we got a spaces tomorrow with fiscus digital I'll pull his uh stuff up um so just so everybody knows he is uh he's basically building like a um a a kind of like a whole website and that an app about like rating stable coins and like I guess trying to build like some kind of like uh credit rating Agency for stable coins basically um so yeah he knows uh him and us for your friends there so uh poops is gonna be on it's going to be a Twitter spaces then he also takes it and posted a podcast and and puts it on you know the podcast during places and everything so that will be tomorrow at um I have the time here somewhere um um let's see oh that's probably like right here or something uh yeah Twitter spaces tomorrow 2 p.m Central um so that's gonna be 2PM Central um and there yeah it's gonna be pretty basic uh you know Bean convo I had the question I'm gonna afford them to poos but yeah it's uh yeah it's just gonna be him poops I might hop in there uh and just gonna you know he just wants to learn more about beans ask questions pick brain um so good opportunity another place at like uh you know in the stable coin Maxi world uh about kind of spreading the uh the bean message right um and then yeah we started essential pod uh it's actually like a pretty good podcast that we're gonna be able to get uh uh pooped on I will show you guys it's the decent people pod uh it's uh so basically their angle Matt license he's like a really big Wall Street Journal uh it's like X Wall Street Journal uh reporter um and you know there's some pretty big Heavy Hitters that have come on the podcast Caitlyn long um from jump um Emin goon from from Avalanche uh de orino is like one of the ethereum co-founders like he's one of the early guys who funded ethereum uh Ryan Breslow Joe Lubin so uh some pretty good uh names that have been on this podcast and their angles basically like they just want to talk about like the people in crypto and it's more so about like you know the why uh like you know so it's gonna be a lot of stuff about like why proves is building this kind of stuff why do they believe in Beanstalk um so that's gonna be a pretty good opportunity it's a pretty big pod um so that was a pretty nice get and then uh on the pr side we we we're getting the pr team up to speed you know they came in a little later um and so uh we're kind of helping them get totally up to speed on exactly what narratives we want to be hitting and how we want to be pitching this thing out um and you know the thing with PR is that uh PR is very uh reactive rather than proactive so it's very hard to kind of get a lot of PR coverage when there's not too much to talk about so we think like this whole bean of Stow is going to help the pr side a lot because it's going to give us a lot of ammo to to go to a lot of these outlets and be like hey you know and be able to tell the story about like oh you know these guys got hacked but then you know they put in this whole edition of the ecosystem in order to help people recover their funds and they're kind of rebuilding this back and this is the only project that's ever been able to come back from something like that and then we can also hit the the kind of main stuff which is more so about um you know the ecosystem and and you know what we're kind of building here and why it's going to be a big deal and then capitalizing on this like post usdc narrative stuff like that um so um so we got some pods for the pr side and that you know I think uh you know once the pr team gets like really up and going and they really get all the ammo they need when we get the manifesto stuff going then they're gonna have a lot of uh ammo to run with um on the BD side uh we talked about this last week we've started to reach out haven't got um too many bites yet um but uh I don't know Joey anything else you want to add there the same thing it's just like we're really focusing on a lot of this like Baseline stuff in order to have been in as many places as possible um yeah um we have we got a guy with like connections at most of these places and he's been in discussion but does get rerouted to the formal form submission for a lot of it um but we're we're anticipating that we'll be able to put those through um given those connections and then some of them uh we don't we don't even need to um Implement anything for it we can we can just like edit on our own um I believe D5 llama Wiki is doing that and that's I'm going to be writing that up um and instead have that good to go by the end of this week and guy we can talk about that a little bit more in detail um I'll make sure I'll cross check with you it's going to be kind of topical um nothing like obviously too detailed or anything crazy but yeah the um the big integration that we're working on and that the one that we think is going to add some pretty cool use cases well at least at least a pretty simple use case is um you know there's this project that's launching on mainnet uh it's from the team behind Ola finance and basically like essentially what the product is going to be in the integration is going to be is like uh you're gonna be able to use Bean as your uh to trade perps so to like basically be your collateral and trade perps so like you know uh if anyone's familiar with like gains Network it's like you deposit die and then when you win let's say you win a trade and you you know you're up 10 you close your trade so uh you know in in gains you you know you collateralize your one die and then you get back 1.1 die um we're working on an integration with the team there in 10 assessment but they're getting pretty close to mainnet over the next month but essentially we'll be able to like white list a perp decks where um with with pretty little uh kind of engineering overhead and then be able to have like a perp decks where we can use Bean as collateral so you would trade like it'd be synthetic trading whether it be like Bitcoin eat or whatever and it'd just be like Perpetual future derivatives and uh you'll be able to kind of put one bean in and let's say you take a 10x trade a 10x leverage trade and it goes up ten percent let's say you buy uh you you know you buy a a derivative a perp future of eth at two thousand dollars uh on 10x leverage uh and you put in 10 beans then uh let's say the price goes to 2200 you're up 10 times 10x leverage you basically doubled it so your uh you know uh your 10 beans are gonna turn into 20 beans and you'll be able to pull 20 beans out and then LPS and users uh you'll be able to kind of in you know uh at least for now maybe instead of Silo but in the future you know maybe when we can get uh you know it could be another one of these like positive carry tools like similar to Roots where once we get a fungibility of The Silo then it can be like Bean plus Silo in there as your collateral um but um yeah that's something that we're working on with the team they're in test net but um yeah again like you know if anyone has ideas about protocol Integrations you know we've had a couple conversations with places you know we've talked to the games guys but a lot of um I mean you know as I'm sure you guys understand uh a lot of it there's you know integrating directly with Bean is a little bit tough because uh you know people get kind of scared off by uh I guess the lack of long-term number stability is I guess the way I'd frame it um you know like people understand that it's definitely pretty stable on a day-to-day basis week-to-week basis but uh you know people aren't too uh to feel too great about the opportunity uh so they're still finalizing the name of the project itself but it's called uh it's by the team that's by Ola Finance uh and I can see if they finalized the name yet they're they were uh they're still engaging like uh like a branding Studio to help them Rebrand it um but yeah I'll I'll get that back to you signals um so uh but yeah like you know people are kind of worried about the long-term implications of things they're not thinking of of like okay well right now beans at like 90 or 91 but like what happens in the off case that like three months from now it's at like 87 like is that going to adversely affect my protocol is it going to add like an attack Vector is being liquid enough where nobody can manipulate it um and is there enough in three pool where people are you know aren't able to uh kind of manipulate it so um these are this is feedback and concerns that we're getting when we try to do these BD relationships like you know we talk to you know the gains team about potentially putting uh being along with die because they're they're also looking at LUSD putting LUSD in the dipole and things like that so that's feedback that we're getting and so that kind of brings us back to you know the bigger idea which is that the manifesto is the most important thing that we can work on right now because we think that can have a pretty legitimate impact towards uh you know getting more people excited getting more people holding uh getting more field depositing in The Silo which means like the protocol's overall healthier um and and we're you know there's an opportunity to get a little closer and better stability um and you know like talking to female females mentioned that you know uh that irrigation is going to help I think like showing people the big picture of what's going on is going to get people excited and that's and then showing them that hey there's a there's a road map to getting back to a dollar without explicitly saying like Hey we're getting back to a dollar and waving our hands and everything um but um you know uh uh but yeah just like understanding that like we're trying to have these BD conversations and that there is deservedly so a little bit of hesitation um so that's why the focus is more on these educational type platforms we're like let's just get the info out there as much as possible let's like update the boilerplates on Beanstalk and all of these places uh you know let's try to have it presented in as many locations as possible so that there's as much discoverability opportunity as possible but um yeah just like that caveat that like you know we're having a lot of conversations and they're not going in too many places and there's not too many perfect match made in heaven solves right now but like I think there are a lot more once we can show a lot uh like a higher degree of stability a long-term stability I guess um hey ishan I just wanted to jump in on that for for a quick sec can you guys hear me okay perfectly all right sweet so yeah I was just thinking about about this and first of all it's it's interesting to hear that feedback so definitely like you know as you have those PD conversations I think it'd be great to you know round up all those notes and and share them just so we can try to get an understanding of how people are perceiving to be in stock uh I think venus.com is going to appreciate that as well so super cool uh to have that info I think you know one thing that came to mind is I agree with all of your points about you know sort of the sequence of upgrades that's coming and you know generally growth uh in The Silo kind of drives us towards a world where the peg is more stable I think in many ways uh certainly it's uh you know if the economics plays out as it has in the past and uh and you know continues to be correct there I think that that's a safe assumption I guess when I when I think about you know maybe how to approach explaining Beanstalk to people into to these you know potential Partners I suppose you know we might consider taking a a little bit different of attack there in terms of you know not necessarily saying or trying to emphasize that like yeah it's going to go back to a dollar and it'll be okay but more so emphasizing like the sort of advantage of Beanstalk is that it's built to get back to a dollar over time and like that like the fundamental value that that's giving to these other protocols is the fact that that makes Beanstalk more scalable than everybody else right and I think you know maybe coming from that lens might help reframe a little bit that like the you know you are trading off this you know potential uh price volatility for For What and I think answering the what for people is would you know be really important so uh yeah just uh just a thought there and you know happy to Workshop that as well with with the rest of the team if that'd be helpful yeah definitely I I think that's a great point and that's yeah like that yeah perfect that's exactly what we're looking for is like we want to give you guys this feedback and and we can work on kind of formalizing some of that feedback that we're having in BD um and then yeah like you know you guys are gonna know kind of the the answers better than us I mean yeah like I think we hit some of those same points so like you know you know like uh you know I I like the way that poops kind of frames it of like hey like what what actually is stability right what are you looking for instability right Dollar's not stable right you're purchasing power isn't stable so like what is actual stability well like you know short-term stability is like pretty great and that's like a big benefit if you know and it kind of stays within this tight range and then on the long term it's like meant to go back to a dollar it's kind of uh uh you know kind of created and and the mechanism behind it are are towards going back to a dollar so I think that is a great Point yeah I'd love to kind of have this larger discussion tomorrow with proves at the Dom meeting um if if you got some time and and yeah uh uh yeah I'm gonna I'm gonna hit you up silent chat because I I assume you'll probably be around consensus now um yeah I'll be nearby okay yeah yeah so yeah we we can definitely uh so yeah I'll shoot you DM um but yeah I appreciate the feedback there um that's yeah that yeah I think that's a that's a good way of framing it it's not like the like the what's the trade-off um and and taking it from that angle is definitely um preferable yeah and last thought there is like you know I think one thing that's really important for us to help you guys with as a team is you know hopefully if we all do our job right we can get you guys to a point where like that kind of like that being the response to their objection uh just kind of comes naturally and so you know happy to as as always like have as many calls as we need to to make it clear you know like all of the ways in which Beanstalk sort of tackles the the problems that folks bring up because you know we've heard the same thing before right and I think that the the challenge is probably more like how do we you know reframe it for for these protocols than anything else so yeah I mean like if any of this stuff is still unclear like let's talk more uh definitely yeah I mean I I think on this specific one uh I'm not too worried about but yeah like I I think there's a lot of other areas where we just have pockets that you guys probably have great answers and Frameworks for that um that we can still feed off of um so definitely there um so I guess last thing that we wanted to hit was uh Mayflower um so um I mean I think we have a general idea but a guy I I you know if you wouldn't mind I mean I guess we'd love like a big like overview and then like for you to kind of dive into it with us a little bit um me too okay so you know pause me or interrupting if any point things aren't clear but um what we're referring to the as the Mayflower update is primarily composed of three three pieces the first which we're calling Sunrise improvements the second of which we're calling Silo V3 and the third would be like the deployment of wells and white listing of specifically it being Ethel uh beneath pool too well so the first of what uh Sunrise improvements we just shared a draft for a proposal draft for so if you haven't had a chance to read it I would encourage you to do so feel free to ask questions in that channel there or or anywhere uh over DMS as well but so I guess to to start off with Sunrise improvements there's two primary changes in that one the first of which is the introduction of a Dutch auction uh in the field so what that means in practice is that when we've seen Beanstalk grow significantly in the past it is often significantly overpaying uh to for lenders and so you know the way Beanstalk works is even even above Peg it still issues soil in order to measure demand for soil and that's used as an input to determine how to change the temperature and basically you know for example uh before the exploit you know the temperature was decreasing from like seven thousand percent you know and trickling down three percent every season but even when if it was at seven thousand percent six thousand percent Etc it was pretty clear that uh you know Beanstalk didn't need to be paying so much uh so many pods or minting so many pods in order to attract that credit and so but having a Dutch auction in the field means which what we're calling is what we're calling the morning auction is essentially a period during the first few minutes of every season where so so let's say the temperature right now is like ten thousand percent if the printer turned on tomorrow and the temperature started to decrease like the the ceiling on the temperature each season would still be decreasing by three percent every season but during the first few minutes of each season uh there would be a like essentially a coefficient applied uh starting at like zero percent up to 100 percent of the max temperature so uh there might be like uh there will be a UI for this I can find it later like grab you a screenshot of what the the interface would look like that I think would help inform how it would work but but again the the core point is during the first couple minutes of each season there would be uh like a a coefficient less than one applied to the temperature that Beanstalk offers so basically like trying to uh optimize and add another lever uh to the max temperature um in order to I guess uh issue if you in order to issue fewer pods during times of high demand for soil and I think to add to that briefly this is leveraging the fact that uh the field structures uh pause Us in this uh you know in the Pod line and so the reason that auction Works in part is that you know one there's a limited amount of of soil available at any given time and two if somebody sews that soil before you uh you know you can't have any of it and so uh and also they appear ahead of you in line so it sort of creates this uh you know sort of perfect economic uh situation for pricing pricing soil yeah the attempt is to find them you know more accurate yeah exactly the more accurate price to transpoint like what the what the real temperature is what people are actually willing to pay rather than overpaying that makes a lot of sense um okay and so um okay so that's Sunrise improvements so there's one more piece of Sunrise Improvement uh the other is uh what's called in The Proposal just like Sunrise incentive adjustment which basically means you know so every season uh upon the call of the sunrise function which advances being stuck to the next season mince beans if necessary mint soil if necessary Etc uh the call of that function Beanstalk often uh overpays in beans in order to incentivize someone to call that function and what part part of what this bit will do is make it such that the incentivization of that function call takes into account both ethereum Network conditions and Beanstalk economic conditions and so what that means in practice is it'll take into account like gas fees on ethereum and as well as like the bean price for example so you can imagine why those would you know be necessary to calculate an optimal incentive reward because if uh you know gas is sufficiently high uh you need to pay more beans to uh reward the sunrise collar and similar like if the beam price is low or high for example that would affect the number of beans that Beanstalk would need to pay to incentivize someone to call a function any the objective there is to get the sunrise function called earlier because before it would be a function of like just waiting for the reward because the reward increases with time right so if gas fees were high too high then it wouldn't be getting called early enough so this is actually more just about reducing Bean issuance uh and and by proxy reducing cell pressure on beans um as far as I understand it it should not have uh any impact really on the uh swiftness with which the function is called but it's primarily around the number of means issued yeah if it works as intended and we've tested this and modeled it out number of ways we don't expect any variance in the speed um it's worth noting that the in the current model and in this new model uh the amount of beans issued adjusts the more or the longer it takes for Sunrise to be called so there's simultaneously an adjustment for the current Network conditions like I mentioned and then also if it's taking a while being stock will be willing to pay more up to a threshold that makes sense I mean I don't I don't know if I fully grasp how this how that produces being issuance in terms of calling the sunrise function but I mean that's the it's it's more like Beanstalk just default overpays because it's not taking into account those things so it over pays in order to just be sure that the incentive is high enough but this will allow the number of beans issued to come down to something a little bit closer to the minimum possible number of beans that it could issue okay during the sunrise call Beanstalk actually mints new beans for just that into the colon so they're which is part of why it increases Supply and so like if green stock is is significantly overpaying for the sunrise uh reward like there will effectively be just be more being cell pressure than there would be otherwise it's like obviously someone could do anything with the beans uh but in general they're sold the the beans received from calling sunrise okay um yeah that makes sense and that's okay so that adds a lot of improvements obviously the sunrise function and then temperature and so so ideally this brings down ish issues more soil to bring the price of uh to bring the temperature down I guess not necessarily uh oil but I guess like uh finding the perfect price of soil so that we can get the right temperature yeah so if you're referring to the morning option piece which is like the first half of Sunrise improvements I'd say the primary goal is for to reduce pod issuance and for the sunrise incentive adjustment the primary goal is to reduce Bean issuance and if it's not clear the goal of reducing pot issuance is to just you know issue issue debt in a more efficient fashion fashion and reducing Bean issuance reduces cell pressure on beans like all else being equal you would want to have you would want Beanstalk to pay fewer Pay Less in order to attract credit and all else being equal you would want fewer beans to be sold okay okay it makes sense where this fits in um you want to do Silo V3 uh Chad were you gonna say something uh I didn't catch that all right all good let's yeah we can move on Chad we can't we can't hear you if you're if you're speaking Okay so let's see Silo V3 so there really are a lot of components to this and might defer to charge on the more technical ones but can talk through a few of them so cyber V3 is kind of a an amalgamation of like five or so different upgrades to the silo so uh let's see where should we start so one of them is the removal of the withdraw timer so when Beanstalk was first deployed when you withdrew assets from The Silo you had to wait 24 seasons in order to claim them I.E the the assets couldn't be dumped for 24 hours and so initially that number was 24 at some point it was reduced down to six or so and at real at replant relaunch in August of last year it was reduced to the remainder of the current season so if I withdraw beans at 139 I can claim them at the end of the season roughly 21 minutes later and the removal of the withdrawal timer is kind of exactly what it sounds like in that there is no there's no more claim process you can simply withdraw and then use your assets immediately and so why is that useful so one example of a pain point that the withdrawal timer creates is if you go to root token.org and you you are able to Mint Roots using any stable coin in a single transaction but you are not able to redeem from Roots to another stable coin in a single transaction because of that withdrawal timer it requires two steps it requires the in you know the initiation of the withdrawal I.E like you redeem your roots you get your eyelid deposit and then you withdraw your Silo deposit and then you have to come back later at the end of the hour to um excuse me to clean the beans and sell them for example so that uh to reduce friction on that front and will also allow things like you know Liquidations in the future um it would be impossible to you know guarantee liquidations of some sort of bean loan uh if the beans were in The Silo and there was still a withdrawal timer so is the is the idea behind that mostly as a function of helping roots or are there other collateral benefits for bean as well uh well that's sort of what I'm talking about with uh with loans like if you're borrowing against like a silo deposit or like a bean deposit for example like it's not possible to have any sort of Auto liquidations of the underlying asset if it can't happen instantly so it uh I mean so you ask is it specifically four roots no um it's sort of for I mean nothing in particular I suppose it's just uh like an efficiency Improvement okay oh um uh a ux improvement too like it sucks to have to withdraw and then come back later to claim them I can definitely see that um okay yeah that seems pretty self-explanatory there uh what we got next oh okay so another part of Silo V3 is the tokenization of deposits uh as ERC 1155 tokens so that is I mean what's I'm trying to think what's what's saying on this front well as far as using or maybe maybe brain would have something to add here but as far as using using deposits and D5 and you know deposits are the very thing that have this you know positive carry that we talk about uh you know having them conform to some relatively common ERC standard uh seems like low-hanging fruit so that is more of a like an infrastructure upgrade uh if you will and hopefully it comes with some cool art but we'll see um okay and so um so is the idea basically like now we can have like some composability with the deposits and like maybe there's things to be built on top of there or more use cases and stuff like that hopefully I mean you know uh it's not like a lot of D5 supports 11 55 tokens out of the box but some stuff does you know uh once you have I once you have deposits as 1155 you can trade them in a permissionless fashion on openc for example which you can't do today um like what's like uh if there's like anything you can think of that would get people excited besides like I mean yeah definitely trading like I don't know is there like uh I don't know would you be able to like borrow against it I'm assuming eventually in some kind of way whether it's like something BF build or someone else builds or is that kind of the idea like just give me an idea of like well well yeah yeah I mean that's exactly right in the sense that like this is not the development of the market that allows people to borrow the and lend deposits but it allows it to be built more easily it allows that market to be built more easily yeah exactly it's all about composability yeah um okay that makes a lot of sense that's yeah I think that's a pretty easily sellable Point um I mean I wish I had more juice for you but like really that is I think that's kind of it on that front and you know anyone anyone else should feel free to chime in though yeah I mean the basic way to think about it is you know think about how powerful the composability of the erc20 standard is for D5 right like uh deposits being 11.55 is kind of on unlocks the same level of composability in terms of how other you know trading platforms can integrate and use uh deposits as tokens themselves all that's possible you know the custom integration now but with this migration it will be just like natively supported or like supported via that standard so you can imagine I think I think the most clear immediate example is you know right now there's no market for deposits uh and this is predominantly due to the fact that you if you wanted to do that you would basically need to go make a market that was specific to the interface or the code that deposits use but when they're now just lower than 55s then any Market such as openc which supports 1155s will also support trading uh deposits so I imagine we'll see you know an open C market for for Silo deposits uh start to be something that that farmers take advantage of and you know the sky's the limit from there do you think we can kind of sell it as like almost like the infrastructure for the kind of Beanstalk bond market because like essentially that's what it's what you know really it is right it's like you're basically unlocking this Bond mechanism more or less um is that like I mean I don't know if I would I don't know if I would describe deposits as bonds like pods certainly resemble bonds more closely I mean deposits are really more like bank deposit slips um I'm not sure if that's necessarily the language I would use okay I think that's it yeah that's probably a better one-to-one um yeah I'm trying to think about how we can kind of like phrase it like you know essentially it's like the opportunity for like Leverage or rehypothetication but like those are kind of ugly words that we don't want to use um but trying to think about ways but again this is like the infrastructure that allows those markets to be built uh not the markets themselves necessarily uh yeah exactly I mean the whole point of this is to get people excited about what can come and we kind of want to tease what are the opportunities totally um so I think yeah that's a pretty good way to kind of frame it and think about it um okay um yeah I think that's uh that gives us a pretty good idea there um okay what else we got all right so um one additional change oh sorry the one thing I have on that last one um this is essentially like it isn't is roots working on the same thing or they're working on something different as far as because like that's their whole thing right is like uh fungibility of The Silo deposits and being able to take that positive carry and using that as kind of the liquidity layer right so in the case of root effectively what's happening is root the initial root contract that's our you know released on mainnet currently Aggregates deposits uh and that means you know it takes in deposits of different which have different amounts of stock associated with them and then issues you a single erc20 token uh and the amount you receive is dependent on more or less how valuable your deposit is based on its bdv and and stock uh the 1155 is a bit different in that what it's issuing is a yeah basically it gives a unique you know ID kind of like an nft for each deposit based on how much stock that deposit should have uh and so it kind of encodes it's like I guess one one step up in that uh now you get this token which you know has your exact stock embedded rather than you know in the case of root it being this sort of aggregation let me know if that's unclear okay that makes sense um so it's slightly I would yeah maybe to like like sort of a different take I mean but similar I I sort of think of it as like you know you can't really be avoided that deposits are semi-fungible like they inherently have a non-fungible component to them and so there has to be some trade-off in using Roots which is roots where where roots are you know erc20 fungible tokens and I sort of think of the trade-off that's made is that you know this is sort of what Chad was saying is that you're you're the amount of stock associated with the deposit is not guaranteed it's not guaranteed that you can get the same amount of stock out and that's that's sort of the trade-off that is made so when you ask like is this sort of the same thing that root is working on um they're both different attempts at making Silo deposits more composable and they each have different trade-offs is one of the ways I sort of thinking about it yeah I want to add one last thing here too in terms of you know thinking about what's possible with the 1155s specifically uh and I suppose with roots as well although in a different way which is you know currently it's it's quite a manual process to Value stock for deposits so like if you look at the Discord right we have this unripe deposits you know more or less like OTC market that has popped up in a you know a chat where people are just trading you know uh you know some amount of bdv and the stock associated with that for you know for beans and that's a very manual sort of hard to hard to parse market right now and ultimately you know with the introduction of the 1155s and the fact that doing that allows those deposits slips effectively to be integrated into any form of Market that trades 1155s now everybody who already is a depositor like the entire Community can start to build a better sense for like how valuable their stock position is uh and the stock the stock that's associated with their deposits whereas right now I think like that's much more clear when Beanstalk is growing uh because it's like you know very direct in that you own stock and you earn more beans but in sort of down downside times I think it's uh it's helpful to be able to see that you know the fact that you've accrued stock is is not in vain I suppose and uh yeah that's my that's my take but okay um yeah that makes a ton of sense on our end um yeah I think that gives a pretty good understanding of of yeah that gives us plenty to work with there um yeah what's uh what do you get next for us I think we mentioned five upgrades yeah five or so we'll see how many it actually is so all right the next one is uh maybe what you can call like the rebalancing of seats per bdv for unripe assets not exactly catchy uh we'll figure that out but so if you look at the silo page on the Beanstalk UI unripe beans are rewarded two seeds per bdv and unripe bean through your curve is rewarded four seeds per bdb and that matches the uh liquid Bean deposits and liquid Bean three curb deposit uh seed Rewards and basically so if you look at the state of Beanstalk right now the price is at 90 cents or so and most of the liquidity in B four beans is underlying uh unriped being three curved deposits which is to say that you know there is more than enough unripe being three curve deposits that could be converted to unripe Bean deposits uh that would repeg Beanstalk uh many times over but depositors currently aren't performing that conversion and so it would be good for Beanstalk and so I guess the question would be like why like why aren't the unwrite being three curve depositors converting to unripe means to repeg the price and the answer primarily seems to be the loss of seeds and so if you convert from a deposit type that has four seats for bdv someone that has two seeds for bdv uh you're effectively cutting your seed number of seeds in half and that uh that seems to be for the most part why why it's not happening and part of the reason that four seeds for bdv is recorded for liquid B3 curve is because when someone approaches Beanstalk fresh and they have the option to deposit beans or deposit B3 curve I.E add liquidity you know beans Beanstalk would prefer that someone adds liquidity and so that's why there's a premium rewarded uh in seeds into liquidity providers however on the unripe market uh no no such decision can be made there's no liquid market for unripe beans or unripe Bean 3 curve and really all all the Android assets that ever ever will will exist should at least in an efficient market already be deposited in The Silo so this is a long-winded way of saying that it seems clear that Beanstalk does not need to be rewarding unripe in three curve deposits with more seeds and unripe bean deposits and so there's still some discussion to be had on what the exact numbers should be but it seems like the seats per bdv for unripe being three curves should be changed to the same number of seats per pdb foreign beans and that could be two seeds it could be one seed it could be zero um and the idea is that once that cost of converting is removed because there's no also there's no additional loss of seeds that any any unripe between three curved depositor will be uh much more incentivized to convert uh and in the process Arbitrage the bean price back towards Peg this also kind of introduces maybe a little bit of Game Theory right because someone might be wondering I mean if the incentive is there then it makes sense why people would want to convert um if there's kind of no reason not to if but the when you have those unripe the unripe LT deposits you essentially like have more valuable stable coins underlying that value the the dollars worth of die and uscp uscc versus the 90 Cent Bean so people might be worried about converting into being and it still doesn't get to Peg right is that I mean even though I understand yeah sure it's that kind of thinking that could take place so totally agree there's no guarantees and you're absolutely right that one consideration that someone that a potential converter might have is the underlying assets they have exposure to but I would argue that that is likely to be fairly minimal given how tightly unripe assets are coupled with exposure to Beanstalk and even just holding beans generally given that beings only trade against those assets you describe it's in my opinion the risk profile is not significantly different so for example if you are if you hold beam three curve LP tokens right now uh well I mean whatever whether it's liquid on ripe Etc and the bean price collapse collapses to zero you're not going to get any value out of it uh whether you have beans or Bean three LP tokens yeah so you make a great argument and I would just say I think it I think the the impact on the decision making is on that front is likely to be minimal but it's impossible to say for sure this is all based on human behavior definitely no I agree there and then also maybe like it's a momentum thing too once it gets going then people kind of will flood to convert maybe um especially if you have kind of a large conversion that does that does a big push of the being price there are many mechanisms in Beanstalk that tend to work that way yes yep I'm excited about that one that third point is is a really wise decision because in that way Beanstalk aligns basically everyone's interest at the same time because then the only price to convert would be paying the gas to get the current basically 10 difference between being priced and the price of what was one dollar and also if that pushes being priced above one dollar than the people holding the urban are more likely to regain their value with newford Burgesses so it's it's a really smart move yeah related to that I would you know also note that you know if you believe similarly to what you're describing earlier Joey if you believe that other people are going to convert you know you want to be the first in order to benefit from the price Arbitrage the most yeah yeah absolutely okay I think that puts us in a pretty good spot for rebalancing seeds um we got next cool um okay so this is maybe where I will likely seed to Breen or Silo chat if they're able to speak so I think primarily the other big change is the way in which deposits are indexed in Beanstalk which sort of serves as like the like an infrastructure infrastructure upgrade for the upcoming gauge system but yeah it's sort of like an open question as far as how much you guys want to be talking about this particular point but maybe I'll just stop talking uh Breen are you able to talk a little bit about the the stems change and why that's interesting and or helpful I'm uh I'm happy to kick it off too and maybe bring if you wanna if you want to jump in unless you're at a mic now uh just like feel free to throw in any pieces that I missed no prob he says he cannot so please take it away if you're able all right sweet so this is related to the piece that guy mentioned about adjusting the seeds so kind of the impetus for this full upgrade was this realization about the unripe seeds which we just described and I think sync dropped a a link in the chat uh to sort of the initial discussion there so might be good to go check that out for those who haven't seen it the kind of the technical barrier there was that Beanstalk wasn't originally designed to allow for the seeds associated with a with a token that you can deposit to be adjusted dynamically over time and so we can't for example just like change the number in the code and have everything be okay because it would mess up a lot of the internal accounting that Beanstalk uses to you know basically figure out how much stock your deposit has uh so the upgrade uh here is called stems and what this upgrade does is effectively make it so that for every token that is whitelisted in The Silo the number of seeds per bdv uh can be adjusted dynamically over time without breaking the accounting mechanism and the first application of this is to adjust the seeds you know from four to two for unripe LP uh which we think will have the you know the implications just described but really what it's doing is laying sort of the accounting foundation for a full-fledged uh you know stock based gauge system for The Silo in which you know over time and perhaps you know even very frequently the value or the amount of stock which Beanstalk is willing to give depositors for putting particular Assets in The Silo is adjusted uh based on market conditions based on beanstalk's conditions or you know just based on the sentiment of the D5 community at large and so an example of that would be you know if you think about the position Beanstalk will be in and call it a month or so uh you know will have launched the being eat well which will likely have a lot less liquidity initially than the beam three curve pool uh and you know imagine that if folks are interested in in these you know adding more decentralized liquidity to be in stock uh you know the Dow may be willing to offer a higher amount of stock for for depositing that LP token and then you know in six months time when that pool grows significantly adjusted back down and so all of that is is possible now with this sort of accounting change there's still a you know a pretty good amount of work to do on top of this to you know enable some you know like a voting process for that uh kind of set up some of the processes for actually performing the you know performing the adjustments over time but from an accounting standpoint it's all there so uh happy to answer any questions on that if it wasn't clear so would it be accurate to say like a one-liner would be having enabling the seeds to be adjusted in real time like for the future gauge system to use yes enabling the seeds to be adjusted in real time like by the Dow for reference yeah that's correct and of course in the future the Dow could vote to implement some more automated process or like partially automated process that's all TBD but the key point is that it is now from an accounting standpoint it's possible okay and that's mostly uh and and so the the main impact there is to uh adjust the incentivization of liquidity in different uh in Bingo okay exactly yeah and so I think we'll probably talk about this more um uh tomorrow I guess and we have the meeting after the Dow meeting uh where we can talk about the gauge system but that's exactly right it's sort of like the gauge system you know the way I can describe it is like you can imagine maybe a page on the UI where you as a stockholder go to to say you know here's the optimal ratio of exposure being liquidity should have to different assets and then that can like be an input as to what Beanstalk actually offers as a seed Rewards for example so if I say you know being liquidity should be like 80 each 20 three curve and that's what the entire Dow agrees on and the liquidity is such that that isn't the case you know then it will reward more seeds to the assets that will get it to Trend towards that optimal ratio and so this this change isn't that it isn't the gauge system but it allows the seeds to be adjusted in real time which has to happen first before the gauge system can be implemented that makes a lot more sense now um I think that gives maybe one last thing to add there really fast just because it might be relevant to some of the you know marketing you guys do about this but the reason that this upgrade besides that economic reason is so important and why we even have to do it in the first place is that Beanstalk really tries to take this position of you know first being uh you know very gas efficient and second uh allowing being stuck like users to participate in Beanstalk without you know having to routinely you know update their account and pay gas there are some technical limitations like obviously we have you know you have to mow right now to claim your grown stock uh but in this case like the reason that the accounting system is you know had to be so sophisticated and it might took a little while is it's you know we have to engineer a way to account for all of those little changes to you know if the gauge system is updating the seeds on you know call it even a weekly basis we want users accounts to be you know reflected with the increase or decrease in seeds that being stuck willing to offer you know sort of over time without them having to go for example like you know migrate their account or something like that and pay gas so that's currently how it behaves and uh you know that's just part of the sort of the gas efficiency ethos I suppose okay um yeah I think that's super helpful um kind of getting to the why um okay uh anything these last two are are a pretty big deal in terms of what uh consumers like what what people should expect when coming to Beanstalk um and and interacting with the silo depositing having ownership and distributions like yeah these are both super impactful um and will be really easy to kind of form some content around it and push it out um so appreciate the extra detail here and by the way a quick question Chad did we arrive at like not having Farmers need to pay gas to migrate and doing it for them yeah so as it stands in order to migrate from sort of The Silo V2 to V3 farmers will need to pay a one-time migration fee uh to basically get their account set up with the new system um we looked at having that done or like having Beanstalk Farms pay for it but it's just you know cost prohibitive to do right now because there's a lot of accounts so for now everybody will have to pay and the cost should be uh you know fairly manageable and is it going to be when they update their silo or will it be like a migrate function it doesn't like that is called separately and you have to call it before you can do anything else in the silo so your Silo Position will continue to sit in a cruise stall I guess it did before um but new deposits and then uh you know any like if you wanted to convert for example you'd need to to migrate got it cool another quick question uh well upon the commitment of this bip will the 1155 tokens be minted directly to Farmers wallets I believe the 1155 tokens are minted when you perform the migration call ah okay that makes sense cool all right so actually those are the four things uh there's not five as far as Silo B3 goes okay um okay that's yeah that puts us in a really good spot there um deployment of wells um I think yeah that's the the third piece of Mayflower uh you have to do that right now I know it's pretty late for you um we can also kind of hit I'm game so all right where to begin so maybe I'll just talk about like the timeline real quick and then no timeline isn't like the order of operations and then maybe explain like why each of these pieces are necessary or interesting so on Day Zero whenever you know some arbitrary day uh a bean eat well will be deployed and hopefully there will be some initial seating of liquidity on day one a bip that integrates Wells and Beanstalk would be proposed presumably this map will be shared in advance like it's a draft and discussion period but anyway and then I guess seven days after that let me check my notes real quick oh so okay so and this bip would be the same bip that white lists the beneath well foreign so I'm trying to figure out the right way to organize this okay so I think there's two primary components to this bip which we're currently calling the wells slash Beanstalk integration but so the first part is what I just described which would be whitelisting the bean E12 uh the second of which well okay so on the first part it's also white listing the beanie as well but also facilitating or supporting conversions uh to and from that being equal uh to beans to and from Beans uh uh chat do you do you know do you currently know whether the goal is for conversions to be supported between being eaten being three curve um that still uh word progress up up in the air okay cool um all right great so the second part or I guess third part if you will for this integration depth would be updating the Beanstalk Oracle so in the same way that there's a I'm just going to talk about the Gory details and then you know we can sort of work together to figure out the what's what's useful to to talk about from your guys's perspective but what needing to update the Beanstalk Oracle looks like is that in order for Beanstalk to Mint beans mint soil Etc based on a well it will have to read the bean eat well pump which is like the Oracle in this Wells uh Dex architecture so all that means is basically if there's a shortage of 100 beans in the bean 3 curve pool and a shortage of 10 beans in the beneath well being sock will mint 110 beans the sum so that's what I mean by updating the the Beanstalk Oracle so that's the bip and committing that bip would be the final step of the Mayflower update that you know it's like people ask when beneath well well this is when beneath law that would be the last step this bip passing and then we can talk a little about that like you know why Wells are interesting as well if that's helpful but let me know let me know if uh if you're still with me yeah I'm with you there yeah let's hit the impact and kind of why it's cool and I think that'll open some stuff up all right so Chad if I if I fumble I'd appreciate you filling in the gaps but to me there are two or three different value propositions uh the first of which which was the impetus for Wells uh is customizable fees uh which primarily in the cases of Beanstalk uh using Wells we'll be having them be zero fee uh zero fee because Beanstalk can incentivize providing liquidity organically via the stock system rather than via uh trading fees so tldr they're customizable but you know in the beneath law case uh there'll be zero the other uh is our pumps which are the oracles for the the pools or wells in the in the overall architecture and I'll have Chad talk about the composability aspect in a second but uh the one thing I can speak about is multi-block Mev resistance so oracles provided by curve and uniswap uh weren't really built for a post merge environment and in a post merge environment multi-block Mev becomes possible and although it's you know primarily theoretical today because of attacks like that haven't happened uh they can and serious devs that want to build seriously censorship resistance software on chain should want to use oracles that are multi-block Mev resistant yeah happy to talk a bit about that and then also about the composability if that's if you think that's the next guy please cool so uh to quickly speak a little bit more to the oracles because I think which we're calling pumps because I think they're really important um for for those who don't know what multi-block Mev is is basically if you're uh you know what you should be an ethereum minor now you know basically a Staker that has a sizable amount of stake you can potentially be able to mine multiple blocks in a row or propose multiple blocks in a row I guess is not the term and in this case you can manipulate values on chain during the that time including the Oracle values such as like the price of a pool or something like that and so uh for for effectively zero cost and so the the you have to use some or we need to use some new techniques to be able to prevent uh you know values from adjusting too quickly and causing you know a rogue block proposer from manipulating the bean price or the price of any of the assets it trades against for example uh like I mentioned the existing oracles don't do really anything about this and they also have a number of other sort of technical problems that make them a little bit tricky to integrate with beanstalk's minting system and so what we designed as a part of Wells is a you know effectively the the Beanstalk Oracle which also can serve as an oracle for others in D5 who want to have that multi-block Mev resistance and you know some of the other benefits that existing oracles offer and just uh to zoom out even a little bit further what the Oracle is doing is effectively tracking the amount of tokens in a well over time and providing some sort of like you can think of it like a smoothing factor which prevents the the values from adjusting too quickly if somebody tries to mess with them so you know we thought about when we were originally building Wells like how best to build that Oracle into the system uh and you know the design approach we decided to take at the end of the day was to make all of Wells all of the components composable uh which is something that no other decks has really done as far as we know on on mainnet there's been some sort of attempts at this or uh you know people getting part of the way there but not finishing it out but the way you can think of it is that you know when you think about what goes into a uniswap pool for example the Oracle as mentioned is one of the pieces but you have a number a number of other pieces including uh you know perhaps most importantly the pricing function that dictates you know the relationship between the tokens and the well and then you know other configuration values like which tokens are tradable uh if you go try to deploy a uniswap pool or a curve pool there's a lot of constraints around how this those things can be configured uh and often the constraints you know prevent the introduction of new pricing functions or they make it tricky for example to remove fees like you can't actually deploy a uniswap pool with no fees uh and so if you wanted to go do that you'd have to basically redeploy all of uniswap and you know kind of surgically go change a bunch of pieces of the code to perform that uh with Wells we've kind of abstracted all of this out in a way so now when you go make a a well you can just choose what pricing function you want and you can choose which Oracle it talks to kind of like Lego building blocks for for pools and this you know does a number of things one with the same interface like the same sort of functions and base well implementation you can use a whole range of different pricing functions uh so this the you know the first one that we're working on is uh what we're calling constant product two which is basically just uh you know the same as uniswap uh uniswap's constant product implementation but for two tokens the you know we can using the same sort of structure go and make that work for you know five tokens for example or uh make a version of stable swap uh or like there's a couple other stable swap algorithm uh sort of like versions that have been you know floating around D5 that you could go Implement and those are now just these building blocks that once they're written and audited anybody can just like when you do when you create a well just plug into those which is a really powerful uh really powerful thing and you know I think in our view we'll sort of encourage the the development of more pricing functions uh that optimize for different things like maybe you know one optimizes for gas efficiency another optimizes for being able to support a lot of tokens etc etc so uh that's kind of when we you know we talked about composability we're really referring to the fact that you can plug all these pieces together and create like a you know a well that fits uh you know whatever the use case is and ultimately I think over time what we hope is that other protocols which are looking to deploy their own pools uh you know for their tokens will look to Wells as a way to you know allow them to not have to worry about the engineering of you know the basics of the of the the pool like all of that's already done but will allow them to get some of the customizability that they need in terms of uh creating oracles and you know whatever whatever it takes to integrate into into the protocol they're developing and I think that will be you know potentially a huge driver of interest in Beanstalk and uh in tokens trading against beans given that Beanstalk is kind of you know The Shepherd of the uh of the wells technology and you know because we're the first people to go really lean into it uh you know all of the liquidity is going to be in Bean Pairs and that becomes really powerful for other protocols that want to you know basically deploy their own pool uh so yeah I mean I think there's a lot of stuff there so I'll I'll pause I'll pause here but ultimately think it's you know first big step towards you know some composable uh architectures on chain that I think can help make Beanstalk you know being sort of a central figure in D5 as well as Beanstalk as sort of a a force for development in D5 one that is like you know make you know sort of put us more on the map if you will this is all recorded just as a reminder no no that was really good uh I yeah I I think that uh like that's that's what we need right it's like we we need those things that we can kind of dig into in order to get people excited about the opportunities of investing in the bean ecosystem and I think like showing them all the opportunities that we can have and why people are going to look to building Wells and and we can incentivize different liquidity incentives and outcomes and Wells rather than other dexes and we have like this hosted I think is a really important thing that we communicate um so yeah I mean I yeah I think that's incredibly insightful and yeah definitely we'll probably need another uh another run back of of this recording for sure um yeah I mean I I just wanted to I just wanted to add um briefly about hopefully not belaboring the point but to give an example about the multi-block Mev and how that would actually work in practice uh to attack Beanstalk because I think this could be a cool thread at some point but you know before Beanstalk mince beans it measures the time weighted average price over the last season and for example in single block Mev if I take out a flash loan and increase the price of being to Infinity uh but it persists over zero blocks because it's all in a single transaction then you know the number of beans Beanstalk mints uh will not be affected but it would be affected if you could persist uh that price of Infinity over at least a single block which is what you know a multi-block Mev attack would look like and so if you take the time weighted average price over the last season and even if in one block the price is Infinity uh that would significantly affect the number of beans Beanstalk mints and so that that is the type of attack that uh the pump framework attempts to to mitigate or allow you to mitigate at least through its you know customizability okay um yeah I think that's a really good example um yeah just uh yeah I mean I I think uh I yeah I think that that puts us at a good spot for today um we're gonna take this download this info probably re-watch this thing and then uh prep for our chat with poobs tomorrow uh amazing so uh just so we're all in the know there um but yeah um yeah cool wow yeah this was a lot um but definitely incredibly helpful and will help us kind of put this together into a nice road map um including the other things that we're going to be talking with poops about like tractors and stuff like that so uh yeah so maybe just uh just like 30 seconds on the timeline we just shared the sunrise improvements bip draft hopefully that gets proposed early next week The Silo V3 audit starts today and is estimated to finish May 15th so hopefully that can be proposed one to two weeks later after May 15th and the third step of the Mayflower update will require an audit of the wells Beanstalk integration bip and development of that has not finished but hopefully it will within one to two weeks after which the audit will start so looking at like early June or you know this uh like I said the final step which would be whitelisting the beanies well okay that's a good idea on timeline um cool yeah I think uh that's most of what we have today um yeah you guys are welcome to kind of hop in with our call with poop tomorrow and um we will take it from there yeah just give us some time to kind of download this we'll meet and kind of start to form the road run the roadmap by you guys see what you guys think and then we can start to kind of do some fun stuff with it so um but yeah this gives us a lot of the ammo we need um cool yeah I know it's super late for you guys but yeah your time appreciate it so much Chad um appreciate you guys we'll uh chat tomorrow take it easy all right thank you guys thanks for everything God appreciate it thanks I love everyone you bet talk soon right