In the DAO meeting, we went over a slew of updates across all areas of Beanstalk, including:
- Biz Dev Updates
- Bean Sprout Updates
- Merch Updates
- Design Updates
- Marketing Updates
- Ideas about potentially removing seeds in the future
- and more...
Max Sow — Biz Dev Updates
- TBTC — we are sending them a condensed version of our proposal, they are still a little confused on how Beanstalk works
- Saddle Finance — they were willing to incentivize a potential pool but only with illiquid rewards, which is less exciting. But they may create liquid awards later, so it can get more exciting down the road
- Inverse Finance — they have a stablecoin called Dolla, we are thinking about a Bean:Dolla pool and allowing for the LP token to be deposited in Silo
- 1Inch — working on whitelisting us here
- Rari — we started talking to them today, they are pitching us on a Fuse pool
- Last Thursday a month we will try an alternate time for the DAO meeting (probably early afternoon EST, still in the works) to allow EU folks to join
- Shoot Dumpling a message if you’re having Notion access issues
- BSP for Poker tournament has been submitted. 6:15pm ET tomorrow there is a meeting on the Poker tournament
Bean Sprout Update (mistermanifold)
- Aphra — we have revamped the strategy. Aphra is going to be launching USDV Vader vault sometime next week, and then Bean vault should be next in line. This would look like locking up Bean liquidity in an Aphra vault and earning Aphra emissions as rewards. The vaults will be used to do some arb peg maintenance, and the rewards will be directed towards something depending on governance (Kind of like Curve / Convex — you can garner Aphra voting rights to decide where rewards are funneled)
- First round of Layer3 bounties are complete, rewards are being distributed
- Roon/Publius Twitter space happening next week
ETH Denver & Hat Distro (Farmer Dan)
- Layer 3 Bounties went great, some great submissions and engagement
- Got 50 Hats Merch — 40 have been claimed, if you want one message Farmer Dan
- There are also Mugs, ask Farmer Dan if you want one
- People are requesting BEANies
- ETH Denver is coming up — if you are going tell Farmer Dan and he can send you a hat to wear around and rep Bean!
Luna PR Update (JWW & Ipoandchill)
- Luna is a PR firm based out of Dubai, we are in discussions, trying to get rolling as fast as we can
- Big goals are for the firm to help with marketing, reaching out to editors, traditional finance outlets, getting into publications
- The eventual hiring of the firm will be done through a BFP
Design Update (deezbeanz)
- Good new hires coming in
- UI/UX team pumping out good work, working on revamping Silo page
- Style guide should be out next week
- Beanstalk intro video is being worked on
- Standardized Beanstalk Farms/Beansprout email addresses (ereal)
- We will set up @ beanstalkfarms.com email domains or something like that to make our outreaches look more official and unified
- Hypebae is working on a weekly newsletter that will summarize key Beanstalk updates
- Please send her any updates you might have that you want included in the newsletter
- Aiming to get the first edition out before next week’s meeting
- Also, huge shoutout to Hypebae and IPOandChill’s Twitter spaces — you should attend!
- teebee is new head of marketing
- Amazing organic marketing is happening! Thank you to the community!
- We are beginning to build a marketing team and infrastruture that supports the community as we spread the word
- Our marketing team will also be proactive and drive their own initiatives
- Please refer anyone who might be a fit for marketing team, tell teebee!
- We are focusing on hiring for skills, not experience
- We are focused on 2 things: Awareness & Conversion
Open floor discussions
- Ideas from Syncubate
- Vesta Finance (fork of Liquidy) could be an interesting Biz Dev prospect
- Saddle Finance — we offered to hop on their community call to talk about Beanstalk
- Tally Wallet — we are invited to their community call, and Pubius will also be speaking to them
- For all these above events, Syncubate will work with Dumpling to get these on the Beanstalk calendar
Publius updates, sign-off
- BIP-12 will be up in the next day or so! Generalizing the Silo will be huge
- Updated Beanstalk roadmap is being worked on and we want to share a draft with the community and solicit feedback
- As we think about creating a very scalable and flexible Beanstalk with a gauge, system, we are thinking about whether it makes sense to keep only stalk as fungible (not seeds)
- In the roadmap there is a longform explanation, but in short, if we are going to take away gauge from a pool (e.g. going forward we don’t want to award any grown stock from the pool), you basically can’t do that if you keep seeds as fungible because once you allot seeds to a pool, stalk can be accumulated on a permanent basis
- Once you make seeds fungible you can’t go back. You can make stalks fungible regardless
- In such a construct, we may abstract seeds away, as it kind of is just an internal accounting item (it just grows stalk)
- In this construct the system would be more flexible because stalk rewards can be adjusted without distortion from seed transfers
- In the ideal state, Stalkholders can, through the gauge system, elect to stop awarding grown stalk to a given pool in favor of another pool, so as to allocate awards to the assets that are benefiting Beanstalk the most
- As described above, need seeds to be nonfungible or abstract them away entirely to make this work
- Removing seeds also removes the complexity involved in understanding Beanstalk for new users
- What are the arguments to keep seeds?
- It is dynamic and there’s real beauty to allow for 2 distinct ways to bet on Beanstalk (seed and stalk)
- Beanstalk DEX
- DEX’s have a chicken and egg problem where they need to attract liquidity first to get everything going. Most DEX’s use fees to do this, and fees are obviously not optimal for users
- A high-level goal for Beanstalk is a native DEX with no fees whatsoever
- Incentive for providing liquidity is stalk rewards
- This allows Beanstalk to solve the DEX chicken-and-egg problem without having to use fees
- Attraction for users is the lack of any fees whatsoever
- Decentralized open source tech can bring fees down to 0 (it’s a race to 0)
- Actually offering 0 fees would be massive and would create the ultimate DEX
- This is theoretically doable using stalk rewards
- A DEX allows for cross-chain bridging with minimal cost. This way, a Beanstalk DEX could create a hub for Defi across any chain
- The idea of a Beanstalk DEX is very nascent but it’s very exciting
Thanks for letting me do these BD updates at the start. Think it's an exciting way to jump in as well. All the new things that we have cooking, so few updates on things that are existing TVT See, we are sending over to them kind of like a condensed version of our proposal. We took a call with them and they were a little bit confused still just about how Bienstock works.
So we're going to condense that into writing for them. Title Finance. We were considering putting a pool there and now we think that we're going to reroute. Basically, they were willing to incentivize our pool, but they were only going to do so with rewards that are illiquid. So that's less exciting. But at some point in the future, they're going to come out with a stablecoin pool, and so we'll probably get into that.
Inverse finance is really interesting, actually. They basically they have a stablecoin and what we're thinking of doing with them this is still in the works is $1,000,000,000, which is their stablecoin pool. And then allowing for those LP tokens to be deposited into the silo to doing a pool with them, allowing the LP tokens to go into the silo.
And so Liam, he's been having that, he's been doing an amazing job Incubates and working on it as well. So tell it to you guys one inch. This is just another swap that we can be whitelisted on dumplings working on that and then let's see manifold I'm sure we'll get into to his stuff later on on Astra, but that's the bulk of my updates.
And then the, the one thing that's new as of today, this is very fresh is we're talking to Rory. Their team has been following been for a while and they're sort of pitching us on a Fuze pool and so we're trying to find the right angle there. So yeah, a few interesting things in the works, but that's where most things stand right now.
Okay. Thanks, Max. Any questions for Max before he hops?
I mean, Max, like, is there like a more like detail anywhere that we could read about? And I know it's a lot of like in the work stuff, but to be honest, I think even for me that a lot of that just flew over my head like, are you guys keeping those updates like in in the in the description or anything like that or some right notion at all?
Sure. Yeah. Probably the best, most thorough update will be the board meeting that we from yesterday. I have all the notes public in the notion and so I can send them here if you want.
Yeah, they'll be awesome.
If nothing else? Thanks, Max. We appreciate it. And this is totally fine for you to order as unimportant for me. If there's anyone else who time is really sensitive to them and I can throw them at number two for a typical update. That's totally fine.
I appreciate it, guys.
And I have a plan to do the last I still at time TBD but I'm going to do the last Thursday of the month we're going to try and alternate time. So I think we were thinking around like I'm still kind of playing with that, but it's going to be kind of midday, midday. SD Late morning Pacific Time, and then that's going to allow some folks in Europe to attend, like Mr. McKee and a few others.
So I'll as that approaches, I'll let you guys know. Okay. I just had a couple of quick updates. You may notice that. So Gww and DS Beans have been putting some really hard work into the notion. However, some people are not having I've been getting a lot of messages that people are getting based on kind of permission, access problems.
If you have any problem, you don't have, you don't can't see things or that you used to or some people even want access to the old notion to kind of port stuff over just shoot me a message. But I'm actually working with Gww right after this meeting. So we're going to just be going through everyone and making sure everyone has access.
But again, if you don't reach out to me because would want everyone to be using that. And in the last week or so, we've been seeing some really good press. You know, people it more it just kind of becoming a little more streamlined. So we're just going to continue to work that groove and get more and more organized on that.
So happy to see that. So thanks for your efforts there. If you have any questions about how something works or how to put anything, just reach out to me or general.
Next we submitted the BSP for the poker tournament. So that's, that's great. And we have a meeting tomorrow at live. We're doing 615 Eastern. So that's in the in the calendar. For more details, if you're interested about the poker tournament will publish some notes on that as well but stuff there is moving forward and that's all I have for for quick updates.
Next, I'll bring Mr. Manifold up and you can chat about being about updates, some of which might overlap with do we have manifold?
Yep, I'm right up there. It's okay. Yes. Good. Yeah. So like like Max mentioned, we had the call. It was great. We're talking to Jack. They're great, dude, and pretty optimistic. We'll have some high quality conversation in there where we can hopefully leverage beans as a borrowing asset, but some of like the bigger repos so like tester note has one family god likes to just like bigger five well capital hopefully we can kind of chop in do for afra we've kind of revamped the entire strategy there from a Tokenomics perspective, it's going to be more like a curve.
A curve. The model and AFRA is going to be launching its Usdc Evader Vault probably next week, which is a great first step because after that we should that should be in should hopefully be next in line to open up being vaults. So if anyone wants to participate, it'll look something like walking out or being being liquidity in an assembled and earning firm issuance.
As a result of that, it's going to I think I think Andrew is still working through the strategy in particular, but there will be some peg ARB strategies around being and hopefully generate cash flow and then ultimately after governance or decide, you know, where, where excess cash flow can be allocated towards kind of like a mental model of think about this is kind of like curve convex.
So you know, to the extent that a particular party or individual gains for a voting power, you can kind of funnel liquidity or offer out rewards towards certain liquidity pool or isolated lending pools, etc.. So hopefully that kind of makes sense. At a high level, there are putting out a revised white paper in the next few days, so I'll be sure to pin that in the general chat when that becomes available.
But all good stuff, they're making progress. I reached out to one end, so, so just waiting for them to kind of get back to us. The Layer three bounties, the first round of of those is complete. And so those rewards should be distributed fairly soon, kind of a random thing. The other day on Twitter, I'm sure everyone here kind of saw other read through.
Yes, Twitter spaces shout out being merchant for for helping us get to places voice coder up and running for Twitter and so kind of organizing that and that's just something exciting. Look forward to next week. But in general, I think those are all the main things.
Okay, great. Yeah. And those those layer three bounties were when Farmer Dan can speak to a little bit. But I went through those and seen all the engagement that was actually pretty, pretty amazing. You know, I didn't I didn't know how much was really going on until.
We were going.
Through, you know, awarding them. So that was pretty awesome. On that note, Farmer Dan, do you want to do you want to mention a few of those? And you know how that's how that's going with the with the layer three is what the next batch from is. And then also maybe I know that your some hats came and chat about the merch a little bit.
Yeah. Yeah, for sure. Yeah. So earlier this week we finished up the first round of those layer three bounties, actually got a ton of submissions for those. I was pretty surprised on some of them, like a handful of different infographics, you know, some of which we may or may not use, but like something like 400 retweets on the launch and like a bunch, like over 200 people with the emojis in their Twitter handle and stuff like that.
So some pretty good engagement. They're actually doing a bit of like a website update over the weekend. So the the launch of the next seven, eight, whatever it is, is going to be at beginning of next week. And there's some more fun ones in there, like the the beans in Paris and like making a meme to submit and some other stuff like that.
And then obviously we're still on the lookout trying to get in touch with some people for different podcasts or like YouTube content stuff. So, so yeah, those will be out the beginning of next week. And then yeah, I don't know if you saw my tweet or not, but we did get the hats in this week. They look awesome.
You know, like good quality and everything like that. We got 50 of them so far, including like arms and giveaways that we're going to do. And the poker tournament, about 40 of them are claimed. So, you know, if you are looking to get one, definitely reach out to me. We're going to have some mugs in on Monday, too, so that'll be cool.
I'll send a picture of those once we get them in. And you know, not too many of those have been claimed yet. So, you know, you know, you're part of the protocol, you know, looking for something to drink, coffee out of in the morning. But yeah, yeah. I mean, that's pretty much it. So the merch stuff is rolling along and yeah, same thing with layer threes.
All right, great. Then I've been getting a couple of requests for beanies, you know, like.
Why don't we have.
Beanies for being? I know they're kind of designed some, but.
I think about something to think about. Yeah. Yeah. I think once we get the stuff in, we get a VSP together for, you know, some of the stuff. But then yeah, I mean, I'm totally going to keep just running with it. The connection that we have is working really great. So, you know, it's something, you know, that I've kind of envisioned turning into a store eventually too.
So I'm excited to see where, you know, the next kind of stuff that we can make and cool.
Yeah, once again, if we had a little more bandwidth for effort developer or someone who can make a store, that'd be awesome. I don't think it'd be that hard, you know, considering. But anyway, I don't think it'll really.
Also, one more thing I wanted to mention. So you know, it's Denver's coming up and you know, there were some people, you know, a dumpling. You talked about stickers a little bit and then also just getting some hats out there for people that are athletes. And a few people would reach out to me, I don't know if anybody in this meeting right now is going, but it would be awesome if we could just send, you know, like five or six hats out all at once and sort of like a like a priority mail.
So we could get them there overnight. And if it's just one package, like there's this super nice site that I found that gives like discounts and all the the ticket prices and stuff like that. So it was being able to ship them out there. I'd probably do it on Monday, you know, they would get there the next day.
So I think it'd be easiest if we could get them to one person. You know, if anybody here is going and is willing to do that, you know, if not, I can ask of the other people to.
Doing their second in case anyone chimes up. But you can also anyone who wants who doesn't want to say so or anything they could just DM Farmer down also. Yeah just looking for some folks who might be there.
And we've got a couple too. And on that note too, I just don't think it's going to go there. I'll be going virtually. So I don't know what we can do for that. But if there's anything that that you can do together. Farmer down that we can push out and share virtually they'll be awesome. Yeah, for sure. You know, I think if I could definitely get with Israel on that and you know, we could come up with something there that's a good idea.
Okay, cool, cool.
Yeah. Thanks for those updates. There's been a few gww. Do you want to chat on the PR element?
And and isn't it also an issue but I'll let you go ahead.
Yeah. Yeah. So initially I have been chatting with well one I've been looking for a couple of different firms and the one that we're kind of making good progress with which we've talked to the community about was basketball weeks. It's called Luna. They're based out of Dubai. We're going to have another conversation with them in 12 hours, see how that goes.
And we're kind of closer to the final stages of that. We've got a new fleshed out scope of work from them that kind of cuts out some of the fat that we think kind of looked more silly. And that was a comment that I brought up that that that, you know, they had seen accounts paired with them that may have been in that direction.
So we're going to make sure that we're looking at the we're looking at the organic side of everything that we do with them. But really the big goal with a PR firm is, I mean, they'll help us with a few things in terms of marketing campaigns, obviously, we're flushing out that department in a different light level. But but the big thing would be for them to help us editors and build stronger connections with some of, I guess you'd say more old guard or traditional finance, but at the same time, like Coindesk and things like that.
So conversations are going really well. We're finalizing like what? What the cost would be and making sure we can get it all paid for and beans and stuff like that. But the idea would be to roll out with them as fast as we can. As of now, they're kind of like this, like a two week wait, basically to get going.
But whether it's them or some other team, ideally, you know, ASAP, we get going that it helps drive traffic and we'll be talking with them in terms of what the traffic we funnel it in every funnel it all into being that money is some of it coming to the discord, etc. So there's a whole bunch of like strategy that we have that conversations on from a marketing perspective to make sure that it be a good spend of our dollars.
Another thing that we're doing, like when they proactively reach out to editors, is trying to help us get like publications a couple of times a month as well, and just nurturing relationships should something pop up down the road. So I've worked with agencies in the past and kind of know the churn and the the grind that it takes to get publications to happen.
And this team seems pretty, pretty competent and that they're able to do it. So we're pretty excited about what what it could mean for the growth of being not just the protocol to be the money, but also growing the community, the discord, the Twitter following, etc..
And I think there's a there's a few more calls on that, not quite finalized yet, but if we should probably have an update by next week or of will that be going out? They'll be going out as a VP, right?
Yeah. Yeah. The submission for that would be through a but definitely not finalized. You know, we're still getting some final checks internally before we do it, but I would hope I was in the camp.
Sounds good. Okay, these bands, do you want to channel a bit about the design and you know, where things are headed and and what updates have for us?
So yeah, sure. Yeah. So we have some good new hires coming in. The team has really been about some good work and working on revamping the silo page. Branding is going well. Look for just a pretty much new style guide coming in next week school. And hopefully we're trying to figure out a good way to let the community kind of like we're not sure maybe maybe we might do like a Snapchat or something because it is it is pretty revamped and it's pretty different.
We've been, you know, talking with a different member. It's been working closely with the publishers as to what does it actually look like. But yeah, I mean, really excited on that front and really excited for just working with the new marketing department. You know, TV's kind of taking the lead on that and you know, we're just trying to get more content out and hopefully we can just keep growing, right?
Yeah. And you were just telling me, I think there's tons of really exciting stuff, the little bit like the bit that I've seen that's been really, really exciting. So I think next week will be, you know, as huge as the the pod marketplace was. I think that seeing stuff come out from your end is going to be even even bigger.
So anyway, excited for it. And you mentioned how any like video stuff coming along. Was there an update on like the video curriculum and if things got.
Yeah, not so much on the video curriculum because that's not really over. That is more like educational content. But as far as we were working with bunny mods on that project, TV's on the project did deliveries on that project. Just trying to get like a pretty much a bienstock intro video is kind of what we've changed up to.
So it's like a really simple way for animation and I don't know, like when the best time to if I could post it up on the binary chat I'm sure you wouldn't mind. But yeah, it's a pretty good sample and we think it could be something good for just new people being stuck to watch it.
Yeah. No, that's been really in demand. So that's. That's wonderful.
I wanted to jump in here continuing with what this means. So there's something that we discussed then, which was we're thinking a way to to start using this video just to get feedback for it. Well, so that when it's ready, we want to send it to like whenever anyone joins our this quote channel, you know, they got to get the welcome message, you know, that video for us to start like getting, you know, feedback from people who are joining in the videos, giving them what they expect or is sending the message or not.
Is this something that we can do? Do you guys think it's a good idea?
I think it sounds like a decent idea. I guess it would just really depend on the video. So I think maybe we should take a look at the video and give or give rounds of feedback probably before we do that. But other people's thoughts, too.
Of course, and actually thanks. Yeah. So on that note, actually, we were also we're working on the recording for the audio for that in addition to like you know, scripts and stuff like that would look like. But I bring this up because we are we have been good to kind of self nominated, maybe joking, but either way he's kind of been put to the fire against this might be doing some of the recording but if anybody out there has like actual recording equipment and has done voiceover before.
Adam because we might be just having you do read the script and see how that goes with the different voice as well is going to drop in the chat. But it is probably better to say it here.
Yeah, I'm thinking we're just on the the Twitter space is gww. I happen to know Beethoven who was I don't know if anyone else is on that. Yeah. A couple of people here around the three spaces. But he is a young guy I'd like. I know I know him. I don't want to talk to him. But he has done voiceover work and has done a ton of music stuff and has a little recording studio his on.
So he would probably be down for that.
Oh fantastic. Yeah.
Could send you could send you samples as well. Course he could send you samples.
To be great. Nothing to see in the discord.
He just joined. Yeah. So I can do a DM with. I'll just just add him to that. The video curriculum.
Yeah, yeah, yeah. And then I can just chat with him offline or connect.
Yeah, that sounds good because I think he could be he could be quite good at that. I think.
Okay, so is so is it real here. No. Last time.
So he was I think we're going to be shooting to try.
To update our our email service so that we have more standardized bienstock forms, emails. I think it really helps for a lot of things, you know, for when we're doing a lot of called reach out and just to kind of make us more of a kind of cohesive organization. So he's had some thoughts on that. I was going to bring him up.
But anyway, look for that. We'll probably just DM everyone tell them how to set it up once we get the structure going. So more on that to come. But that's, that's in the works. So just know that. Okay, so now I have some time for kind of Publius is going to be able to come on towards the end, but probably still a little bit until until they're ready.
So we're kind of have open floor discussion right now. Also, I don't want to oh, I hope I know that you're in you might want to just chat for a second about your newsletter. You're able to.
Yeah, for sure. So everybody just working on this newsletter. And so yeah, if there's anything key, we're going to start hopefully doing like a weekly update just to consolidate all of the updates from the various sections on what people are doing. And so if there's something that you think is like a key update, whether it's like a BIP or like layer three brownies I thought were cool, or if there's anything that you that you're updating and just beyond just meeting if you are familiar in or to make sure to include it in the newsletter and the hardest part has been the actual, the, the Photoshop aspect of it.
But yeah, hopefully we'll get the as the first one out before next week's meeting. And so we're hoping to get it out today, but we're just going to make a couple of changes and hopefully we get out tomorrow or the next couple of days before next week's meeting.
Great. And also, I wanted to give a quick shout out to the Twitter spaces that you and API have been hosting. Really great. And I think that today's was even better because we had a couple of guests. So if anyone here has any folks that would, you know, that we come to the Twitter spaces kind of as a guest, it really helps out because you get their audience, too.
It kind of makes it a little more fresh and just kind of fun to have someone that we had someone from refi. Yeah. How do you want to do. Want to chat for a second about that.
Yeah. Yeah I would just say and you know, hi babe. Feel free to come in. It's always good to have guests and I think it's super helpful for the guests too, if they're already interested in being, because.
It's a quick way for.
Them to learn about it and a really, really fun way. And I would not be surprised. And granted, the guest today was someone who had talked to Google this earlier and was already doing some diligence from an investment perspective. But if folks are already interested and intrigued and if you know anyone that has been asking about it, feel free to leverage the space as well as a way to get them being told, you know, versus feeling like you need to do all the work to explain.
It to them. Definitely. Okay. Yesterday was pretty great. Pretty great. So I want to have I think the more that we can do the better. And lastly, tbe I wanted to bring you up to chat about marketing tbh is going to be head of marketing. And so first off, welcome. And if you guys have any anything that's kind of marketing related, he's the guy to go to.
And also if you just want to chat about your first, first few days and and how it's been and then what your plans are, maybe that'll be awesome for your marketing update. Really glad to have you.
Yeah. Same here. I mean, it's been it's, it's been awesome just to look at the sheer amount of work.
And the amount of projects that are going around in marketing. It's almost like, you know, getting on a running train.
But it's I think one of the.
Things that stands out to me is just so much work.
Around marketing or just around.
Getting bienstock publicity and more eyes has been done by the community without sort of its structure for it existing.
And and I think that's that's the part we want to continue as well, is.
That is just amazing work that's been done by so many different folks in terms of content and in terms of, you know, socials that we want to build a marketing team or start building a marketing team that supports that work that's going on already, you know, so we want to be building a kind of an infrastructure, a team.
Supports the community and everything they're trying to do to get Beanstalk to sort of bigger heights. At the same point, we want to build a team that is also proactive and not only supportive, but also drives their own initiatives in terms of different.
Aspects of marketing.
So if you go over to the job board.
You'll see that we.
Have a bunch of different positions that are open. We're already talking to folks.
Who are interested in these.
Positions. So if you know anybody.
Be suitable, who will be interested, you know, feel free to refer people you think that might be a fit in those positions. And if you yourself are interested.
To just just chat.
About any of those and you know, my DMS are open, let's do it.
The other thing I'll mention is like.
You know, often we're obviously trying to get into a structure.
But at the same time, I don't know.
If you've seen the movie Moneyball, but they talk about how you're not only hiring players, but you're hiring runs and that's kind of how we think about hiring and marketing at the moment is we want to hire skills and so it doesn't matter, you know, your level of experience might be two years or you might be, you know, a marketer all like all your life, you know, hit me up.
We're looking for as much skill as you want in the marketing department, and.
We can build a really kickass team.
I've gotten a few questions about.
Sort of what is our marketing strategy overall? And I think with publishers and with the team discussing, it's coming together. But I think to give a hint to where it's going.
A lot of it is focused around two things.
Which, you know, this business also talks about, and that's awareness and conversion, which is getting as many eyeballs on Beanstalk as possible, but also making sure that the system, whether it's discord, whether it's our website, it's ready to take in those eyeballs and then convert them into farmers. So that's our focus. And I think that would reflect in the work that we're trying to put together.
So yeah, that's it. I won't go on for too much longer, but feel free to hit me up. And you know, any ideas that Peter discussed. Okay, I love it next to me and we appreciate it. All right. So I think that mostly wraps know what I have on the agenda. So this is a great time before open.
Also, if I if I forgot about anyone and anyone wants to hop up and say anything that of course this is a good time for that to, I can always prompt people to think about it. I feel like you always have this and project and interesting thing on your mind. If you have anything that's came up this week, I would be happy to hear it.
Hey, can you guys. You know.
Plans. Yeah, I can hear a dumpling.
Do you hear me okay?
I do. I do.
Cool. Yeah. A lot of exciting things. Really excited to be here about the, you know, the progress you and Mr. Manifold made with.
With the Rari guys, particularly with the possibility of, you know, augmenting that potential collaboration and, you know, making connections with Tetra Node and some of the others that he's connected to in the space. Interesting project just in case anybody's interested. That's the finance. It's a fork obliquity protocol I launched this week as soon as I saw the update from from dumpling Mr. Manifold.
I thought that was interesting because Tetra node coincidentally among aside from being a large USD holder, he's also an angel investor investor. So I thought with BEP 12 coming up, that might be open that might open some doors for us there. Other than that maxim, I connected with Max and Saddle Finance has a weekly community call. So we we reached out to said, oh, we just told them, look, you know, Publius and the Davos don't have the time.
But, you know, Max and I would be happy to jump on their community call on Monday and, you know, just kind of give them a high level overview of the instant protocol. We actually had a really engaging discussion in their discord with some of their users, and we're able to break down being staff to them there. So I'm going to try to use that also as an opportunity to to market the Twitter space on Wednesday and also let them know that Publius will be speaking to the Tally Wallet community on next Friday.
And I believe tally their community call on Friday. We were actually invited to it and they expect over 400 attendees there. So if you guys can help spread the word on that, once you know that's publicized, they'll be great. So that's all I have. Thank you.
That's great. I think these things seem to be if you want to just shoot me a DM with, maybe I can put those in the calendar so that people know and maybe I don't know if we can get links in advance to where they'll be, but at least to those discords. So some folks would want to see it and maybe having it.
On the discord Fence section might get a little more eyes on it. I'm also going to tweet those out, retweet, whatever. So that's great.
Yeah, definitely the tally. Paul that's definitive. Next Monday, as far as Saddle Finance, Max and I reached out to them. We sort of heard back if you know, they'll accept our offer, does speak to them on Monday but but yeah next Friday tallies already confirmed. And then yes, you could also give me the information on the Twitter space once that promotional material or whatever is coming up, I can share it with the with the saddle community as well.
So I'd be happy to do that with you.
Great. We're working on trying to get these bins is going to be working on kind of a standard just like a standard little promotional thing that we can just stick in the different info on so that I think that'd be great. We saw something like that on Twitter to promote to Twitter spaces, and I think it would really help to have just a little graphic image promote them.
And when we're having people speak in front of so many people, it'd be great to really spread the word about that.
Yeah, definitely. And I'm just again, the one thing that we also thanks for being merchant, for giving us the heads up on this saddles. Kind of a small project. It's not as big as current, but in November they got a seven and a half million dollar seed investment from capital and electric capital. So, you know, Max and I are going to do our best to kind of maintain a solid communication channel with them, even though, you know, integration possibilities are still not clear right now.
But, you know, moving ahead, you know, you never know what doors might open. So looking forward to the coming months.
On that Twitter space. What time do we want to do that for? I can set that up so we have the link and then we can dump it into whatever marketing materials. We get.
That's a good question. I'm not sure of stuff in my head. Okay.
We could figure out offline.
Yeah. I just think it's good to maybe optimize timing for there must be a resource online that you can find best the best times to post those things I know we've had depending on when we do it, we get different amounts of people, but I do know if that's enough of a sample size to really know. So it's an open floor for folks.
Oh, one idea I had was that these meetings are probably the probably more Beinstock Farms meetings as opposed to being stuck down. When you just think of the difference between being stock farms being, you know, the sort of the, the payroll side of things, the organization that tries to move it forward, everything beinstock and beinstock Daou being, you know, the Dow of stockholders, everyone who's put these, put their, their hard earned.
I respectfully disagree dumping in the sense that there are some people that are not you know, most of the people who are part of being stock firms officially but there are some that aren't. And I think it's very healthy to, you know, to have even though most of it has been stock firms related, it's probably healthy to, you know, keep it slightly ambiguous unless we're going to have a separate being strong down middle, you know, not because I feel like the research stuff that regular like for example bips one of the things but whenever we start talking we'll talk about is B12, some of the other bits we have in mind, you know, that's more
down stuff as opposed to be in stock form stuff that listed on there.
I totally understand that. I mean, I was, I, I definitely want to keep having them in the barnyard. I think this is really effective I think that having people come here who are having an inclusive is important. My idea and totally this was really just a just kind of a brainstorm at this point was to maybe start doing it like for monthly monthly Dow meetings that are specific to the to the Dow and just more kind of come up with maybe an agenda that's just about, you know, different questions that are on all of our mind to just go through and sort of, you know, maybe have three topics or so that we talk about
and kind of more of an open format, sort of a town hall type of thing. But at the same time, you know, this I think we do still usually have about half an hour of updates and about half an hour of. So it's kind of more open discussion. So maybe it's premature to start out start doing that as we find the entire hour, you know, as we grow and we have more updates and the whole hour is always taken up by being stock farms stuff.
Maybe at that point we might call it a year, maybe we could consider a delineation, but probably too premature for that area being money, being money.
Being funny, being Bernie.
On that CFP, do you want to chat about your video and.
I'll be in money.
Oh hey everyone. Yeah, I hope you like it. Yeah, well, I missed the beginning.
Oh, no problem. All though there's the only thing was when we were discussing the voiceover, there's that musician that's been making a couple of songs. He's also done voiceover work, so I'll connect you and maybe you could figure out if that's a good option for that or not written.
Okay. Well, is being Tobin here? Should we get should we get a little rendition? It's not.
There's not. But anyone that we have that spaces recorded, don't we.
Have been told it's not reported.
What did you said is.
Oh, sorry, I didn't mean to cut off. I'd be.
Oh no, I was just writing what you said.
Oh yeah. Just saying if point of is not up for it I had nominate it'll.
Reveal a little ditty. Yeah. That was really fun and definitely listen to the recording. We should maybe just post that in general. That was a really that was a good basis, you know. Well now that this is probably a good time for approval. Yes. Now that you're next year, Mike, if you want to tell us a little bit about that 12 and everything else that's on your mind.
Sure. So hopefully everyone saw that picture. Well, draft for that, which will hopefully be a proposed run train in the next day or so. Very exciting in terms of taking a big step towards general waters in the silo. I almost had a bit step. But the other thing that's on our mind or the main thing is we've been working on and with Diesel Dumpling a little bit also the beanstalk road map like a six month you know because beanstalk two and six months old this week with an updated road map and the substance of that is mostly done.
We may also try to turn it into like a one page or as well before we kind of put it out to the community for a comment. You know, it's not final. It's more like a draft for everyone to comment on. But it's our thoughts on Beanstalk and you know, want to use this town meeting as an opportunity to raise like the there's a big question that started to pose itself to us that we don't necessarily know the right answer, but we may have an inclination as to the best answer, which is as we've started to think about like a really scalable and flexible beanstalk with a gauge system that may over time extend to
multiple chains. The question as well, you know, in practice the question is whether to keep seeds as a formidable asset or whether to only have stock as a fungible answer. And we wrote up in the roadmap sort of a long form explanation of what the what the reason for that is. But in short, if you're going to take away engage from a pool and basically say, like going forward, we don't want to award any grown stock to the pool.
If seeds are fungible, you basically can't do that. And so once you a lot seeds towards basically permanence that they're going to be able to accrue stuff on a permanent basis. So, you know, that's that's a big open question on our mind that we've only recently started to really consider in depth as we really work on, you know, like a really forward looking wave map that we tried to be thoughtful about not just over the next month or two, but a little bit longer term than that.
And, you know, want to kind of just open that up for comment and question in general. And the road map being published will be part of that because it is would be a real substantive change to the model going forward. And that was the plan that both staff and see you to be vulnerable. But you know this is I think from a flexibility perspective that would be the main thing that is gained where there would never have to be a pool that is permanently a part of beanstalk per se.
And therefore, Beanstalk could grow to be, you know, bigger than any one particular chain for, say that's published.
Just to make sure I'm understanding it correctly then what you're saying that I know you just said it, but the stock still be fungible, but basically we wouldn't ever be able to buy and sell seeds, then you would only be able to organically get them when you're in, when you're investing in the silos that right.
Yeah. I mean seeds would basically be abstracted away at that point, whether explicitly or not, but they would not be fungible in any way.
But they would they would still be received if you invest directly in the silo.
No, I mean, you would still receive grown stock through the game system, which, you know, has yet to be defined, but it would not include seeds. Right. Because the growing stock is really the incentive structure that matters. So seeds were the, I think, a complement to that accounting structure that was originally used to help the implementation, but ultimately was not necessary for the implementation.
And, you know, there was some elegance and beauty in the fact that there were two different assets that were both futures on the growth of the being supplied, but you know, as we're thinking about building the most scalable, flexible system, it it is a little bit of a problem.
So then would it be the case that the seeds that existences would just be converted into the stock itself then like the growth of the stock? Right. With that quirkiness, keep.
In mind that currently exceeds seeds are just an internal accounting item which entitles a deposit to a certain amount of grown stock every season. That wouldn't change, if that makes sense. There wouldn't be any change to that in practice. It would just be a question of going forward whether you're seeds which represent the amount of stock to be receiving on a season by season basis would also be a vulnerable answer.
And I was just going to say.
It may be best to keep seeds from a representation perspective, but make them nonfungible. And then it would be like seeds kind of only die if your pool gets deprecated from gauge, but how to play the metaphor is unclear. But the point is seeds would not be fungible. Didn't mean to cut off whatever that was. I think it was meaningful.
Yeah. No. All good. I think that actually could help simplify the stock in a sense, if just stock is fungible and we kind of focus in on that while obviously retaining the same principles, it seems like it could simplify things. Just a thought.
I totally agree because I remember when I was starting to.
Finally start to.
Get it, then I was like, Wait, there's another thing. There was always one more thing, you know, it was now there's soil and now there's, you know, when I was only starting to understand it and then there were seeds. And if there's one last thing and you know, the I don't know, to be honest, that I know that sounds really stupid.
But just by removing one more term and, and thing that I think that can actually be a benefit.
Mechanism is still the same.
Yeah, I agree. I was telling on silo chat actually because he and I were talking about, you know how the future of both we were talking separately about like representing like like silo growth to new users and their potential to gain stock over time or whatever. And one thing that was I was scratching my head is if both seed and stock become fungible, if you withdraw like my question to him, you know the answer.
And now this actually makes it clearer, like if you were to withdraw seed but not start with the lock the with the with the with the corresponding deposit be locked if you would or if you would or is if you withdraw the seed and the stock or, you know. So just keeping that stock just keeps it more simple.
They could withdraw X amount of stock that percentage of.
But just to be clear, you don't withdraw stock or seeds from the silo stock and seeds just exist like, right. The thing that you could deposit or withdraw from the silo would be, you know, like the balance or stocks being LP tokens or if it were just being in stock, probably uniswap.
Okay. Yeah. I mean, I think even just from an explanatory perspective to like just keeping it at stock would make it so much easier.
I have to say, I'm actually I'm kind of bummed because I was really pumped to start getting a ton of seeds. But potential is just a if. If the seeds wouldn't be fungible, then would the stock itself then grow at the current 1/10 at 10,000.
Per season or it would just be sorry, can you just walk through that last part?
So the gauge system is not necessarily well defined in our minds yet. You know, the goal would be to continue to have linear growth in your growing stock. Now, the question is how would you define the slope? And particularly the thing that we have to kind of figure out is a balance between allowing multiple pools to be heard for introducing opportunity concepts that you can't necessarily vote for every pool.
But I mean, those are finer, finer details that mean the game system is a long way away, like the Big 12 silo, it's going to be the general structure by which things operate, where it's a fixed amount of stock in seeds. And so the bigger questions just set up the gauge which will be implemented months down the road.
You know, whether because once you make seeds fungible, there's no going back is the real point. So we're just like we're thinking in the long term, once you make this decision that you can't go back versus there's no problems making stocks stock liquid, that's going to be wonderful regardless. So because if anything, we're raising that now so that there can be a really thorough discussion.
And can you sorry, can you elaborate on that, the gauge that you're talking about?
Honestly, I'd rather not, because I don't have a lot of thoughts on that at the moment. You know, for those of you that are familiar with the curve gauge or the FRAX system, those are good examples for how a general gauge system works. But I don't think that, you know, we'd like to define anything further at the moment.
There's A lot more thought that needs to go into making it, you know, the most aligned with the stock. Again, the goal would be to still have some sort of linear increasing opportunity cost for each type of acid employer. But just from an implementation perspective, think about how if you have a certain asset that for a short period of time is attractive to a worker and stock to you, but at some point is no longer attractive to the stock.
To the goal is for the gauge to be able to transition away from that pool and encourage people to either convert their bills to another token in the silo, or they can leave those assets there and keep their stock. But they won't continue to receive grown stock because that asset is no longer benefiting in stock for whatever reason.
So that's the main benefit of losing seeds, is that you have that ability to, you know, for it for whatever reason, stockholders can collectively, through the Gates system, elect to stop rewarding growth. Stocks were given pool in favor of other pools, if that makes sense. So one of the things that makes defining the gauge a little bit difficult is, you know, defining like the growth, whether you define it as a function of the total being the nominated value of the silo as a whole, and then distribute the wrong stock each season based on the gauge or there's a lot of different ways to play it, but I don't have anything definitive to share at the
For a quick question with the decision to make that Nonfungible does it make sense to maybe take away seeds just to avoid complexity and maybe.
You know, use something? We what would happen? The seeds would get abstracted away entirely from this.
How often are these like what's reward? What's happened, you know, where the voters get to choose.
Curve, curve curve was not able to do it on a continuous basis because of implementation limitations. And so we're going to try to look into doing it on a continuous basis, but that remains to be seen whether it's possible. So unclear on the frequency at the moment.
The seeds are abstracted away. I wonder if there's a fun way we could make it where it's like proof you were a total OG. The fact that you still have seeds like they're. They're worthless, they're meaningless.
But you could have, like, a seed planting ceremony.
Let's just see that ETF ts seed f ts Ukrainian seeds.
There's something there. You know, it's like, yeah, I still got my seeds.
I still got my seeds.
You know, we should just give everyone a totally useless functional seed. So you get a seed, everybody gets a seed.
So I have a I'm the proud owner of a Nonfungible Olive Garden. If you got a nonfungible Olive Garden, you can get free breadsticks. You can rent breadsticks on their website.
And home is the NFT is don't have utility. So now if we really start with that utility, people are going to be complaining even more.
Stroke. So so the modifier really kills all the sarcasm unfortunately.
I mean, there is a limit.
On how many things you can have, you know, how many nfts you can have.
And I think like the running joke, it ends up being like, you know, over time, what's going to be more useful is your seeds or your dollars.
Maybe a bad look, though. It might be a bad luck. Like, I don't know, just like I got these seeds that are useless. And then I got the I don't know, I could see it being a liability almost. Well.
I mean, if you had legacy seeds, can you, would there be an opportunity to convert them in one shot to something or do they actually just become absolutely useless?
Well, they don't really exist at the moment, right. They're just an internal part of Beanstalk. So it's not something that would have to be taken away.
We could use them to buy into poker tournaments, too.
I always looked at seeds as the sole interest threat. So I think it makes sense just removing it altogether and moving with the reward system and then having, you know, certain members of your to these sorts.
The does this end up with like a convex like scenario down the road though? I mean, not the you know, the convex symbiotic relationship with curve is has really been good. But is that is that a possibility that you see?
But with this one a possibility.
So this this.
Symbiosis that curve and convex have where, you know, essentially convex created their own their own token to.
So so one of the reasons convex is particularly powerful is because curve has a white list as to which smart contracts can participate in their gauge vote that would not be aligned with be stock. And so we wouldn't want to create those types of artificial barriers to entry. However, there's a very high possibility that something like A4 or something similar that is well designed and you know, taking full advantage of the game system could end up becoming something symbiotic.
But, you know, that's, you know, it's hard to predict given the convex very clearly has an advantage, given their priority on the white list. And so therefore, it's hard to model out, at least for me, how how the instant will accrue, you know, and again, given that the rules of the games are not defined at the moment, that's also a little bit harder to think through.
And that's where the what was running through my mind is. So, you know, we're talking about curve wars right now and, you know, six months.
Down the road is are there other there.
Stocks or course.
Yeah. I mean, we've already got the voice modifier going. So the terms are going to be fine.
Know, good information. Appreciate it.
We're just having fun with you guys. We love you all.
Good we got on Sunday. That's the real question.
Joey? Because all the way through there is division within Cooper. So, you know.
The big ideas get a side.
Yeah, this is one place we don't agree is on the Super Bowl.
I think Ibos get a side bet about Matt Damon's involvement.
In any Super Bowl ads. Yeah, probably. We're working hard on trying to get Matt Damon, you know, feel free to veto now, but we're work real. Let's see how it goes on Sunday. Let's see how he shows up. But we're we're keeping our eyes peeled.
We calculated it'd be about 56 million to get a three minute spot where we just talk about being stock.
Is that right for us?
I mean, you know, then we'll talk.
Oh, you know, it's a stretch goal for next year. Well, if.
And if you don't have seeds to talk through, it makes that message contact.
You could this other stuff on their hands. I don't think they're going to be able to win on the intricacies of the stock system.
Yeah, just on that note, I think being tokens can be pretty sad to hear this about the seeds going away rewriting the lyrics.
Yeah, I mean, that's frankly, this is, you know, and I know that's more of a joke, but, you know, we do really not want this to be like just a decision that we're making this is more a thought that we've had and we think there are compelling reasons to make the change. But, you know, this is really a down decision to be made.
And from that perspective, you know, I think maybe we should do a snapshot or it would certainly at least be good once we publish the roadmap to have a high quality discourse on it. So this is the beginning of that discussion. There's nothing that needs to be done immediately and start considering being, you know, becoming liquid next week.
So it's like, you know, there is time to debate and discuss and you you know, the questions tonight about this were very thoughtful. So we're excited to start that discussion on.
And all joking aside. I'm sorry. Go ahead. Go ahead.
No, you go ahead.
But I'm just thinking about, you know, Twitter.
You know, just a little while ago, one of the.
In Twitter spaces.
Was about the external messaging.
And how complex it can be to introduce folks to the terminology and, you know, how gratifying it is once people get there. But you know that that barrier entry can be a little bit difficult and.
Complexity. I don't see a downside to that as long as it doesn't, you know, threaten any kind of.
Fundamental component of how.
The protocol works. You know, if we can if we could make that message more concise and more communicable, I don't see a downside to that.
Being stark as to tokens, beans and stock. I mean, that's pretty, pretty simple.
Yeah, that's right.
Yeah. I think from a from a communications perspective, it's it's a it's a winner. What I would like to believe is if you could if you could sort of Steelman the argument against you know what you that would be really helpful for me if you could.
Yeah that's a.
So the main reason to keep seeds is like there's real beauty in having two separate assets that are different styles, futures on the growth of being and particularly the fact that stock entitles you to current rewards, whereas she's entitled you to stock over time. So you're like, if you prefer to hold seeds, you're betting the more likely to expect future growth in the beans fight in the future when your seeds have yielded stock.
It's it's just that there's real beauty in having a way for the system to kind of deliver leverage, draw on a more sophisticated internal market based price that reflects some sort of state of the system. But, you know, just to talk about that in substance, I think the pot market in the farmers market is going to be more that becomes a market data.
So, you know, you're not necessarily losing that much at the moment. But I always thought it was really a beautiful, elegant thing to have stock in seeds and they were totally different, you know? So it's like I analyzed it totally different, not from each other only, but like it's a total that I mean, not only pointing out how hard it is to explain with good reason, it's like, yeah, it's a totally unique system.
So that would.
Be cut out.
For one last to relax to their privacy, like when your favorite seed skips, you know.
What about now?
That was that was a great. Okay, yeah, great. Good. Now, you know.
The real thing that you're losing is the elegance and beauty having a way for people to trade and say, okay, I don't think beans are going to mint over the next two weeks, but I'm not leaving the sidelines, just selling my stock for seeds. I think that's cool. As far. But you know, at the margin, it's like I think you're probably going to have to give up too much to get that cool thing.
That would be the analysis.
Could you ever create.
Like a synthetic seed that somehow like it seems like you could almost create a product like that? Like.
Well, the issue is if you have a game system where it's at risk of always losing, now it's not so simple. At least I'd have to think about it a lot more, but I don't think so.
You don't know what the future voting is going to be, so you can't you can't count on it. I think it's a really.
I just heard one thing on the C front. I don't know how this is what it is, but in general, just the use.
I'm sorry to cut you off, but I guess what you could do is you could have like some sort of tool that is committed to always like moving assets to the pool that has the highest stock doing stock yards. And then you can issue some sort of synthetic seed against that, assuming again, it would be dependent on the structure of the gauge.
But you would have to have some sort of proof that the seeds are issuing are the greater than the or less than the maximum or the minimum seeds. Some grain stock for BDTV you were getting in your fund no matter what, so that was more a word salad there, but you could do it now to shut your uranium drilled off.
Seed. Yeah. Okay. Immovable synthetic seed.
You know, I'm sure. I'm sure that it's even easier to explain. I, I was, I was just going to say the economic component of having a longer term incentive, that clause people like clause people in to keep capital in, especially, you know, thinking about marketing and trying to get longer term capital gain. I think as long as we can preserve something like that, we should be fine like it.
And I'm not too married to the idea of having specific fees or anything, but as long as economic principle of incentivizing longer term deposit in there, then I think we should be good. Because to me that's.
What the purpose of the seed really was.
And just to add, this is David. You know, I was considering.
When if Stock and CS both were to go.
Live and this is more of a question, I think it would be hard for investors to kind of value.
It comes to kind of figuring out whether they should be in stock or seeds. And I was like, maybe it's a maybe it's just simpler and it's an.
Easier sort of buy when you know what you're buying, you know?
Yeah, maybe, maybe. And also from a.
Farming metaphor perspective, I mean.
Beans are seeds not in bean stock. But, you.
Know, again, if I think it helps to simplify it because beans are seeds and then you're throwing beans into the soil to grow things because those are the seeds. I mean, there are lots of sprout beans from very small seeds, but. Yeah.
All right. Well, if everyone agrees, will disappear and rewrite the whole white paper and we'll see you guys in a.
I think I think the goal should be the goal should be. Can you get Matt Damon to explain this? If the answer is yes, I we're done that we're good though you got to pass the Matt Damon tests IPO.
You get your 10 minutes on Matt Damon at the.
Don't bring Matt.
Damon to the board and be bold deposit in the silo.
But people are leaving.
We're leaving the minute you don't like our names.
But I'm still.
If we're going to go with the celebrity, I think it's going to be Robert Downey, Jr Iron Man.
I mean, Gwyneth Paltrow. I was going to say go inside and be like a geek and be an advertisement.
Yeah. Just think of.
Mad, funny, smelly candles.
Being people for serious about luck. Fortune favors the brave, fabulous.
You briefly mentioned the idea of a dex two days ago. Well, I understand why Curve is, like, more efficient than Uniswap. And can you briefly tell us, like, the idea of this, Dex, how's going to be, like, more efficient? What's what's like the this transform the differentiation point?
So the two catch 22 of exchange is decentralized exchanges or exchanges in general is, you know, liquidity attracts volume and volume creates fees and fees attract liquidity which attracts volume which attracts fees and so on and so forth. But there is very much a chicken and the egg problem around attracting liquidity to begin with. And so various protocols use different incentive structures to try to attract liquidity to their dexs and began to go back to that problem the way that most dex solve that problem is they have fees to pay the liquidity providers to attract the liquidity.
And so European stock is able to attract liquidity through the stock system. And therefore, instead of using fees to attract the liquidity, BIENSTOCK could just use the stock system to attract liquidity and therefore for a zero fee dex and that would attract a ton of volume, which, you know, would potentially be a much better experience for traders because there's no fees.
And again, fees are raised to zero, in our opinion, in DEFI and open source finance.
Okay. Thank you. This is this is clear and interesting.
And again, this is like something really down the road. But it's particularly interesting in the context of there are lots of assets in the silo on a bunch of different blockchains and therefore the ability to leverage like a zero fee. Dex to go from any asset on one chain that beanstalk is on to another asset on any other chain that Bienstock is on is really powerful.
So again, this is where we get into why we want to think about the gate system from the perspective of how can be in stock scale to be bigger and longer lasting than any one individual blockchain or a liquidity pool in particular. And therefore, removing seeds offers a lot more flexibility in that. But, you know, not to weave it back into that discussion, but it's directly related.
And how does that function in the sense so will being plugged in on the liquidity or.
Use of or not on any of the goal is just stay away from pole. But it would just be unlikely that any of the asset, the vast majority of the assets on the decks would be deposited of all the LP tokens for the taxable silo and therefore you to crew stock rewards for adding liquidity.
Okay. So it's not owned by the inside, but sits and you know, bean stocks, correct.
The same structure that currently exists.
The only difference now is this exchange. You know, within there's.
Zero exchange that attracts liquidity through stock rewards. And I would just comment and go ahead, man.
No, sorry, go ahead.
I just comment that this doesn't mean that business I would not be reliant on decentralized exchanges because. Keep in mind, from an alternate perspective, we've been starting to be totally resistant to censorship attempts from usdc or other centralized stablecoin providers and using uniswap and three curve on curve to obfuscate direct exposure or remove direct exposure to censorship from these providers is really essential.
And so while the START tax has a lot of utility, it wouldn't replace the, you know, bean stocks integrations with other taxes by any.
And the few. If you were to think like, you know, once we start or if we're going to serve the stocks, which which assets would you think would be the starting point for that, first of all? BEAN And then, you know, being or, you know, is another stuff.
You know, it's too hard to predict it. It'll probably be a couple of different stable points to start. But the I mean, this is now we're talking months down the road.
I think if.
This has been pretty awesome. I think I'm happy to turn this into a universe. The class this has been really cool, but there are many other questions. We want to chat for a little bit longer, but it mostly concludes meeting business.
Hey dumpling. I was just going to say to the Gwyneth Paltrow reference that Pugliese just made way if seeds are abstracted away, we could just write a blog post and call it conscious uncoupling. I don't know if you guys ever heard of that, but that's her breakup philosophy.
So this is really good guys. Fun stuff, interesting. We're unseeded. So this has already gone pretty long. Didn't mean to drop in with this at the very end, but you know, it's very important that there's high quality discussion. So hopefully people found this helpful.
Super, super exciting. Forward to seeing more about this, having an active discussion. All right, guys. Thanks for a nice meeting and we'll talk to you all soon. I think that's it for tonight.