• Recordings
• Notes
• Do we need Seeds at scale? How do we determine the amounts of Seeds per Silo deposit?
• Do Seeds have a cost on the protocol?
• Can the DAO be accurate with Seed allocation?
• How does Beanstalk avoid manipulation?
• How does the Beanstalk DEX help peg maintenance?
• Is it possible to accurately measure demand for soil when minting less than one soil per season?
• Publius’ thoughts on having an APY on the website
• What has to change with the flood when there is no longer a withdrawal timer?
• Could we add data from the Pod Market Place into the Temperature calculation?
• What happens when the Chop penalty goes to zero?
• What will be the biggest catalysts for demand for Beans?
• Will anything happen to Beanstalk because of the ETH 2.0 merge?
• Will there be a marketplace for Unripe Assets?
• Why does Publius not take any compensation?
• Would Publius ever run a business on top of Beanstalk?
• What does Publius think about the requested retroactive pay?
• How will businesses be built on top of Beanstalk?
• Transcript

Recordings

Notes

Do we need Seeds at scale? How do we determine the amounts of Seeds per Silo deposit?

• The Stalk system is going to continue to evolve
• What we have been thinking of is instead of the DAO setting specific seeds per BDV for a given asset, instead set targeted ratios of BDV in the Silo. Then the seeds per BDV could change depending on the ratio of the different assets in the pool.
• The DAO could vote that the optimal amount of exposure of Beanstalk to various assets, and that could change over time.
• Even at scale, if there was no reason to ever leave the Silo, there would still be a function for seeds in terms of Beanstalk’s ability to manage risk.

Do Seeds have a cost on the protocol?

• There’s no cost to the protocol, but it introduces opportunity costs to users.
• Grown stalk introduces a cost to leaving the Silo.
• Seed rewards direct deposits to particular assets.
• Has the effect of decreasing ownership concentration over time.

Can the DAO be accurate with Seed allocation?

• At a high level, it comes down to which assets Beanstalk wants exposure to.
• The DAO doesn’t have to be perfect in this regard.

How does Beanstalk avoid manipulation?

• There is a distinction between manipulating user behavior and manipulating the protocol.
• It’s hard to prevent user behavior from being manipulated.
• The question is how the protocol responds to it. Over time Beanstalk should be able to return the price to peg, and over time as Beanstalk proves its ability to return to peg user behavior should become less vulnerable to manipulation.
• The more educated the user base becomes, the less they will be subject to manipulation.

How does the Beanstalk DEX help peg maintenance?

• Trading fees make arbitrage less efficient.
• Removing the fee will allow people to buy and sell all the way to the peg.

Is it possible to accurately measure demand for soil when minting less than one soil per season?

• It’s difficult to know what it means to accurately measure demand for soil.
• It’s easy to measure that there is demand for soil, but it becomes much harder to measure when there is not demand for soil.
• It’s hard for Beanstalk to know if there is no demand for soil because there’s not enough soil available, because gas fees factor in.

Publius’ thoughts on having an APY on the website

• APY is not the right way to think about returns within Beanstalk, but one of the main value propositions of Beanstalk is the positive carry.
• There needs to be something to indicate the return, maybe some indication of supply growth.

What has to change with the flood when there is no longer a withdrawal timer?

• The flood was instrumental in preventing Beanstalk from overheating during the initial pump and dump.
• It’s not likely that anything with the flood will need to change if there is no more withdrawal timer.
• Might be a good idea to have the flood ramp up over a number of seasons.

Could we add data from the Pod Market Place into the Temperature calculation?

• Dutch auction is probably the next change to be made to the temperature calculation.
• There could be additional changes based on the results of the auctions over time.

What happens when the Chop penalty goes to zero?

• There will probably need to be a BIP to handle the conversion of Unripe assets to ripe assets with no stalk loss.

What will be the biggest catalysts for demand for Beans?

• The competitive carrying costs of holding Beans in the Silo will attract businesses to build on Beanstalk.

Will anything happen to Beanstalk because of the ETH 2.0 merge?

• Don’t expect there to be much of an impact.

Will there be a marketplace for Unripe Assets?

• They are ERC-20 tokens, and there’s nothing preventing you from selling them.
• There’s no liquidity pool with liquidity for them, but there’s nothing stopping people from using some kind of order book.
• There doesn’t seem to be any reason for Beanstalk to incentivize it.
• Beanstalk would prefer people to chop if they want to leave.

Why does Publius not take any compensation?

• We don’t view our relationship to the DAO in that capacity. We are not workers for the DAO.
• We are stalkholders and podholders and we are heavily aligned with the long term success of Beanstalk and don’t require any more incentive to continue working on Beanstalk.
• The hope is that over time as people build businesses on top of Beanstalk, they will work on Beanstalk because of their own exposure.

Would Publius ever run a business on top of Beanstalk?

• Certainly. That is the goal, and everybody contributing to Beanstalk should be thinking about how to build businesses on top of Beanstalk.

What does Publius think about the requested retroactive pay?

• Don’t want to discuss specific proposals, but at a high level there have been a lot of people investing a lot of time, energy and brainpower getting Beanstalk back up and running and those people really do deserve to get compensated really nicely.

How will businesses be built on top of Beanstalk?

• Businesses can take advantage of the positive carry to compete with existing businesses.
• Using betting markets as an example, it’s possible to offer much better odds because the Silo yield is generating revenue.
• Liquidity on top of Beanstalk can be used in a capital efficient manner without dealing with opportunity costs or relying on centralized entities.