• Recordings
• Notes
• Philcore Intro
• Operations
• Copy
• Marketing
• Community Management
• Bean Sprout & Root
• Engineering
• Documentation
• Transcript

Recordings

Notes

Philcore Intro

• Started out his career in design. Started a consulting company that merged with another. Ran a team of 25 at a startup and was CEO. Ran operations at a venture-funded startup with a team of about 50.
• Introduced to Beanstalk through sync in another community.
• Working full time for Beanstalk for a few weeks running operations.
• Goal is to support the community and core team to prepare for the next stage of growth.

Operations

• Putting together a Q3 budget. Will have something to share in the next week or two.
• Doing due diligence around some legal ramifications of Beanstalk organization.
• Working on processes for collaboration and product delivery and best practices around organizational management.

Copy

• There will be a BIP to transfer ownership of Beanstalk to the BCM and another to replant Beanstalk.
• Will include unpausing, whitelisting Silo assets, etc.
• Lot of work to do on the gitbook.
• Sneak peak on docs.bean.money
• Results of BFP-75 mean we will need another BFP to pick the starting pool.

Marketing

• New Bean Pod episode is live, with publius talking about soil.
• New blog piece is coming
• Working on a Community grant program.
• Working on additional Beanstalk explain videos.

Community Management

• Shout out to Chinese team on translations
• Will be doing another happy hour

Bean Sprout & Root

• Been focusing on raising capital for the Barn Raise.
• Spending time designing the Root protocol.

Engineering

• Working on internals in terms of how to access data from the chain.
• Preparing the migration of pre-exploit assets to the new version of Beanstalk.
• Trail of Bits will need an extra week to complete the audit, so it will now be finished July 6th. Final report will be available about 10 days after that.

Documentation

• Lot of work being done to update the White Paper.
• The gitbook and technical documentation will provide supplementary documentation.

Transcript

start to set the stage for everyone so in the past what we've actually done with these meetings so on Tuesday we typically run class where it was a chance to uh come in and and fire off any questions you had at Publius and just get an update on a lot of the uh the thinking and the mechanics of being stalked and then historically with these meetings what we were doing is just giving a quick update to the the community into the Dao as to what's actually happening on the back end as we're working through getting Beanstalk replanted and getting things up to speed and so we're going to try to continue to host these for everyone so that we can provide that transparency just to give some updates and so what we'll do is bring a couple of uh kind of core team members who are leading a couple of areas of the of Beanstalk Farms we'll bring up Mr manifold for bean sprout as well um we've got this listed as an hour don't foresee it taking that that full time um it's more so just to give everyone a quick update on those various areas and then we'll have some time at the end for some q a um so just before kicking it off I think everyone's seen this but we've actually started a new thread for bfp 76 to talk through the pools that we could potentially launch with obviously a lot of conversation happening there in general as a result of pfp 75 so definitely jump into that um on Austin listed a soft pole at the top of it to start to gauge interest so read through that we can definitely address some questions on that um but with that being said I'll start to bring a couple of people up here and we'll just get some updates from some of the core members hey hey guess I'm first yeah yeah um so the team hasn't really had a chance to to have a full kind of introduction to you yet so if you don't mind just giving a quick background as well uh and then if you can give an update on the people here Phil core can you guys hear me I can hear you so far please can you hear him can you guys hear us can we hear you I can't hear anything is this on you I can't hear you yep we can hear you good place could people hear Phil core well no Jacobs you said you could right again yes I can I can hear you and Publius okay probius is gonna deal with his audio um well hello everyone um happy Thursday it's super nice to be here um excited to be working with this team and and this community um a little background on me um so started my um career in in design and uh started my own um consulting company um ended up merging with another consulting company built a pretty successful um Consulting uh business um building amazing products from there ended up going and working at a startup where I ran product um and so ran a team of about like uh 25 and was also the um CEO and CEO at that organization and then most recently um was working at a a venture-funded startup a team of about 50 where I also ran operations I got introduced to Beanstalk um through sync on another uh in another Discord Community got super excited and ended up having a conversation with dumpling and one thing led to another and and here we are um so I've been working full-time on the project for the last few weeks um and and you know here running operations um so super excited to be here working with the team um also excited about like this moment in time because I think that we not only are obviously doing a ton of great work to get the protocol up and running but I think there's a lot of work to do in order to um take Beanstalk Farms as an organization to the next level um so I think that that is kind of my overarching goal here is that uh to support the community and support the core team in uh preparing for the next stage of growth so I think there's a handful of projects that are are part of that so A couple of brass tax things um one is budgeting we're working on putting together a Q3 budget we'll be talking about it today and we'll have something to share with um you know the larger Community um in the next week or two um so excited about that we're doing some a bit of due diligence around some um uh legal ramifications in terms of thinking about like what's the smartest um and most uh you know secure way to like organize um uh Beanstalk is that something we even need to do um so doing some due diligence there um we're also working on some projects uh to support the way that the organization gets its work done um so internally putting some work together to help codify sort of our um you know our processes the way that the team collaborates to deliver product um the way the team communicates um and just uh you know some basic best practices around organizational management so that's work that this community isn't going to see too much of but um what you should see are uh will show up in the results that the team is able to achieve I think if you know from an Ops perspective give if we do our job super well you don't notice too much other than the team that consistently and reliably produces really high quality work and you can just kind of sense that things are humming along so um again excited to be here happy to answer any questions um and uh yeah thank you awesome thanks Phil core yeah and so for the team we haven't really had a chance to uh introduce you yet to Phil Corso I wanted to take a couple minutes to go through that so appreciate the update on the Ops in your background as well Phil core um Austin do you want to give a quick update I mean I think we've all been lucky enough to read the tons of writing that you've been putting together but is there anything kind of high level from like a copy perspective and a little anything beyond that that you can talk through foreign sure yeah thanks JW um although my update will be brief I guess the the work involved is not so brief but I think between now and replant uh we're expecting just a couple more proposals at least one more bip to actually transfer ownership of Beanstalk to the BCM or the the guidelines outlined in I think bfp 73 and then another one to actually replant Beanstalk and so that'll be unpausing Beanstalk whitelisting the various Silo assets Etc and uh the big meaty project we're working on now is uh the get book um and yeah so there's going to be a lot of work to do there in terms of guides documentation Etc you can check out a sneak peek of it actually at docs.bean.money we won't share that too widely at the moment because it just houses the governance documentation that was outlined in bfp 73 as well as a dashboard for looking at the list of addresses that are on the BCM when they last signed transactions and then every time the the list of signers changes uh that's where the the hash will be published as well so you're welcome to check that out um although other than governance it's pretty sparse at the moment um over the coming weeks and months that'll be the main homepage for learning about Beanstalk and then otherwise been working with uh one of the public eye on setting up a governance Forum of sorts um we're probably going to stick to Discord in the meantime for governance discussions at least between now and replant uh but you know as we grow we'll uh we'll kind of figure out a process for whether we want to discuss bips here in Discord there on the Forum Etc but I think uh I think that's it on my end happy to answer any questions though awesome yeah I think Austin one thing I mean uh one thanks for the update uh and also in terms of the um like for example the last with bfp 75 there were some comments about um people getting a little bit more updates on it can you talk through um from the conversations that we've been having at least from a cursory perspective what what that might look like in terms of providing more foresight um so that teams know about live bfps Etc uh sure so bfp 75 uh I'm sure most of folks on here know but the voting period ended on Monday and the Dow voted to replant with a different pool which uh required that we run other snapshot to pick the pool it seemed like there might have been some confusion about kind of the implications of each as well as timing I know between the exploit and replant we've been running snapshot voting periods pretty quickly in order to to move pretty quickly but I think that was one where you know perhaps we should have shared a draft in advance you know reminded folks to vote things like that so uh you know lots of things to learn from from that process that should be improved moving forward yeah awesome um and then yeah just to further Echo that so we're gonna we'll try to put some kind of a process in place um between copy and Ops uh you know and frankly even like marketing community so that there is more of an understanding of what is live uh when it closes just continuing to remind people to hop in and vote um to the extent that we can do it obviously without nudging people in any kind of a Direction so thanks Austin um so I will give an update really quickly on behalf of mod with marketing and then I'll give it Mark Community update as well um so just so the community knows there's actually no update right now on the pr front I'm actually waiting to see how root and the barn Rays unfold we'll pull up Mr manifold for a quick update on that in just a second there is a new bean pod episode that's live uh it was tweeted about and um it's an episode where police talks in a bit more detail about soil uh the soil and weather as a whole so definitely suggest checking that out uh there's another blog piece that should be ready in the near term that Mod's working through with I think through copy as well he's got the initial draft out but that should be coming out pretty soon uh the most recent version of bi-weekly Bean was recently put out as well and then there's a community grant program that that we're looking at on the marketing front on the community side itself the big emphasis is on education so everyone knows about the Beanstalk explain video If on maybe maybe not but if not could have been that money and you'll see it on the home page um and so we're working through what would be the second and the third iterations of those videos that just give people more clarity in terms of what what The Silo is what the field is and then how to interact with fertilizer itself and then what the mechanisms are so um again everyone that's in here I think it's all pretty clear how you do all this it's more so for new users that are coming to the site because that Beanstalk explained video has been pretty pretty helpful for us to drive awareness overall then on the Community Management side I've got to give a big shout out to the to the Chinese team as a whole we've got a couple of different language teams um and I've got a few members in the uh through the Discord that are helping us work on translations and things like that um so many thanks to the teams that are doing it but the Chinese team in particular has been working through quite a few translations so uh Jeremy who's here in the audience has been great along with res so many thanks to them for working through all the translations of things but it's another way for us to continue to get Outreach to the community as opposed to just keeping it focused on English um on the nft front we're progressing through the the work with that I saw a couple of questions that popped up in general if you have any questions about that let me know um but again we won't be listing out any uh we won't be pushing on the nft front uh right now given the fact that uh all the engineering needs to focus on the replant again that's the most important part of what's Happening um but we'll keep you guys surprised as we can start to leak those um in the future we'll be doing a few more events um in the next couple weeks we'll probably do another happy hour with dumpling and bean Tov and Bella Bean talk which if you guys haven't come to those they've been really kind of just a way for us to relax uh have more light-hearted conversation um and uh just have yeah jokes from IPO and chill um whenever you can pop in as well um and then there's some Merchant giveaways and stuff like that we'll be doing on the community front as well so just a pretty quick update on a community front um Mr manifold now that I've got you up here do you want to give a quick update on bean sprout and root sure uh you know quick question JW so who's who's on the Chinese team uh well it's it's a kind of an informal team we've got uh in the audience there's Jeremy on it there's uh someone named res and then there's um I think it's I can't pronounce the name it's there's one other person that's helping us no worries no worries that that's awesome though no I I just wanted to give a shout out that's pretty cool I didn't know too much about that that's awesome um so on the bean sprout uh side of things you know really for the past you know honestly ever since the exploit um it's it's really just been you know non-stop uh on the capitol race front and you know even though the barn race has started we we really haven't you know taken the pedal off the gas there so we're still continuing to have conversations with buns Angels Traders um High net worth individuals and uh you know family offices um and so that's still kind of continuing and you know we're still um you know looking to uh have as many conversations with capital as possible um you know Drive awareness of being stock um you know what what this technology is what what type of you know investment or bet you know they would be taking on um and and you know at the very least you know if not a capital contribution you know Beanstalk is on the map um and you know they'll be following the project moving forward which you know should have you know positive benefits you know down the line even after the barn race so that's really been you know what's been preoccupying most of you know the time on the bean sprout end of things is you know just raising as much Capital as we can um during this Barn race um you know specifically clicking into root um you know a lot of uh bandwidth and and time just going into you know the design of the protocol um and you know the the the the really you know just thinking again from first principles you know um it's it's really non-trivial because you know I think I've expressed this publicly before just really not you know too overly impressed with the current state of DFI today and it's easy to you know throw together a few things and launch a protocol that mirrors a lot of the past um but we're being very cognizant um and and really want to think this through and you know that takes some time but you know we made a ton of really good progress um you know we've we've basically you know raised all the capital we sought out to um we're still having a few more conversations um for some strategic checks that might come in um but yeah all good stuff you know we're excited so um I think you know from from the bean sprout side of things from the root side of things you know we're chugging along here um and you know although it's although it's a bear Market um and you know there's a lot of volatility around um you know I think being stock and root and is is really you know one of the one of the things uh in the current market environment that you know is getting um you know is growing in interest and and and and you know is going to come out of the other side um as a real novel technology to facilitate the next run yeah thanks Mr manifold I think I speak for a lot of people when I say that we're all quite excited uh for root to to be uh you know public and out in the open so um that's great to hear thank you um so Silo do you mind giving an update on engineering maybe you and I'll have you in uh publicly stag team that if that works maybe you can give an update on the front end side or whatever um yes on the front end side steaming ahead with with cool bean and sweet red beans um as many of you have probably seen we relaunched uh the Beanstalk app for the barn raise uh we're continuing to work on some of the internals in terms of you know how it's accessing data from from the chain a lot of that's changing uh now that we're replanting Beanstalk so have been accommodating those changes um and yeah just generally steaming towards our uh replant deadline which we don't really have the hard deadline as we've mentioned you know this will be sometime in July um but yeah we also plan to open source the website sometime soon after that um no hard deadlines set there either but as we're rebuilding the site that's in mind so hopefully it's something that the broader Community can contribute to soon and um yeah just really excited to get that wrapped stuff Publius I don't know if you have anything you'd like to add there um yeah I mean want to touch a little bit kind of on bit 20. um you know first off you know uh seems like it's received you know significant amount of the required Quorum which is again 50 of stock at the time of submission but you know if for those in the crowd you know who haven't taken a look at it you know would would love it if you know kind of everyone would take a look and see if it's you know worth voting on and if they're in support of it again you know if you're against it uh no pressure to vote on it but would you know encourage everyone to at least take a look um and you know kind of in the case that it doesn't pass it's kind of hard to see where Beanstalk goes and you know uh goes forward so it's important that we at least have you know a sufficient portion of the stockholders at least take a look at it so that it has a potential to pass um so the breakdown may be a little bit what is going on here uh kind of behind the scenes on bip 20. um we're pretty much wrapping up now the data validation portion of the micro operation which is basically you know uh via several different methods we've kind of recomputed the state of Beanstalk on chain and then cross-validated that the data that we computed from you know on chain calls directly pulling Beanstalk state from a node and events is the same and kind of now that we've kind of recomputed the state of Beanstalk off chain we're basically going to take you know all non-circuit all non-deposited beans all non-deposited LP whether that's withdrawn circulating pre-exploy wrap beans being stuck in orders our vegetable beans erase them from the Beanstalk system and redistribute them in the form of unripe beans and unripeout pea and you know discussed with silent Chad earlier today about you know trying to get a kind of number up on the website of how many unripe beans and how many unripe LP each account has so that we can kind of collectively all together go on the website and validate that these numbers are correct um kind of the goal here is to make sure we do this as correctly as possible and you know with no mistakes and it feels like we've done a great job of validating data so far and want the community to be as involved in this process as possible so that we don't run into hiccups later down the road um you know kind of before we replant it would be easy to kind of readjust and fix any problem in this migration but once we replant it's a little more difficult so you know any sort of community help there is awesome um and then kind of on the deposit side we're basically going to remove move your existing Bean in LP deposits from an event perspective and then redeposit them in the form of unripe LP or Bean deposits which is the second half of it so on The Silo side of things you know the only action there's no action actually necessary um but you know once those deposits have been migrated If people could kind of take a look verify that their balances look okay and you know that was all done properly would be greatly appreciated um kind of what's to come after bit 20 is you know kind of have been discussing and you know Shadow Cujo for helping out with this but the potential of we would like to do a fork of mainnet on some kind of separate node after the migration imbalances in tandem with the UI to kind of open up a full Beanstalk test of the replant on a fork node that everyone in you know that can kind of go check test make sure it works so you know kind of in preparation of that and maybe you know two to three weeks we would love everyone's participation on that to kind of test make sure everything's great so that's just a little bit of what's to come on that end and on the audit side of things you know we did receive a message from Trailer bits yesterday saying that they're going to need an extra week in order to finish the audit so we have paid ahead of time for eight engineer weeks initially it was only scheduled to be six two Engineers for three weeks and they've asked to extend the audit to be four weeks with the two Engineers so the if this the end date of the audit is now June 6th um you know not much we can do there we're not going to ask them to hurry uh you know obviously if the Dow wants to create a proposal to not push back the audit in an extra week we can do that but you know it should be uh you know yeah there would be serious security concerns to not waiting for the audit to finish and you know kind of the reason they want to push back the audit is just you know there's a lot of complex code that has been written uh you know the new barn raise format is quite complex and they just want the extra time in order to you know fully test fully review and fully make sure everything is you know secure on that end um so you know on our end you know slight inconvenience but you know not a real problem as you know the goal is to release Beanstalk in the most secure and safe fashion so that such an excellent is the one that happened to us doesn't happen again not to get Beanstalk out as soon as possible so uh you know just that's the update there but other than that the audits are going well you know have you know been in constant communication with Auditors both at trailer bits and halborn every day answering their questions walking them through the code and uh discussing potential issues which has been fantastic so you know overall really happy with the the quality of the audits we're receiving and believe it'll be great for Beanstalk once those are over um so you know that's about it amazing thanks police it's uh yeah it's really exciting to hear about that the fork that you mentioned um as an option to test things out in terms of unripe um so then just just to clarify and confirm so with the with the trailer bits piece that came out they're basically saying they need an extra week uh is that a fair thing to say to kind of push through the piece of code the next piece of audit that they need to do is that right yes uh yes initially the audit they had told us it was going to take two Engineers three weeks um you know kind of in fund one the fundraiser to fund trailer bits um we had initially we had initially paid for eight weeks which is four weeks of two Engineers time um basically what they're those extra weeks we're going to be used you know were were allocated in case an event like this were to happen and if we did not if this case did not happen they would be used to eventually audit something in the future um but yeah trailer bits is asking for that extra week which is two Engineers working for one week it's already paid for and there's really no action needed other than the fact that we're gonna now expect that trailer bits to be delivered a week later the initial report is basically scheduled to finish June 6 now with the final report being released up to 10 days after that um and so kind of we would expect kind of waiting for the final report to be ready before replanting as well as any issues that they come up with that have not yet been fixed by the end of the audit to need to be fixed and then reviewed but obviously we're trying to work as quickly as possible to fix kind of issues as they come up but again the priority here security not speed so uh you know hoping for the best there but it makes it hard to kind of determine when a replant would happen great thanks yeah and I think we've been we've been trying to pre we've been pretty clear with the community about this and we'll continue to be clear like it's also why as much as we love the idea of um July 4th as a launch um we had to we have intentionally been a little um flexible with the language because we knew that the audit itself could potentially have these kinds of these shifts to it so uh yeah just for everyone out there again we're obviously focusing on getting this done quickly but but definitely more importantly is safely and securely to buddhist's point there's no point of us running through this audit uh if it if it's not going to be done that way so um great so um I will just really quick there if there are any questions that you guys have uh for myself or anyone else up here definitely drop those in the chat um you can raise your hand as well and I can pull you up really quickly um but just one question that came in from egg salad in terms of the strategy for the next three and a half weeks pre-replant to maximize the raise um so there's we're continuing to kind of provide educational material both on the marketing and the community side egg salad um we don't have a formal campaign to promote the barn raise in general that it hasn't really been the way that we've been pushing the the barn race itself we because we don't want it to necessarily come across as you know giving Financial advice Etc but what we have been trying to do is let people know that the barn race is live and I know that mod is working on a video I believe on the marketing front that we can be using um and then we're going to continue to have obviously all of the regular Discord sessions and Twitter sessions that we're doing to promote it and in addition to that I know that there's a going efforts to to land other podcasts and amas Etc so in case you guys didn't hear it Julius was on a call with frax earlier this week so we'll continue to have events like that happening um and so it's not just about uh providing written content but we're definitely looking through other other ways to do it if there's any way that the community recommends that they you know would love to see us do it definitely you know shoot that in general tag me take mod and we'll definitely take that into consideration but we're definitely thinking of the best ways that we can get the word out there about the barn Rays without you know without in any way coming across Chile um so that's just that question if you have any other questions um feel free to drop them in there um previous 6986 do you have uh anything that you want to give an update on sure I'm not sure if my sound is coming in any better than it was before I'm still a little shaky on this end but hopefully everyone can hear me so uh have been spending a lot of time on the white paper trying to get things to a version 2.0 uh prior to the replant uh frankly have been is surprised by the amount of work that it seems needs to go into the white paper uh have felt like almost a year after publishing it's a document that's held up pretty well but frankly now you know diving back into it and really looking at it with a critical eye there's a lot of work that can be done and so intend to continue to spend a lot of time on that in the next couple weeks uh it's funny I mean this may be TMI but had like the first task was just combining all the different versions that we'd had because prior to the attack there were different updates that were happening and there were different versions of the white paper to support different updates and so it took like three or four days just to condense all of the different versions now we're down to two versions so hoping to get that to one version and then finally be able to start to just iterate on that prior to the replant but that's going to be a significant focus of of ours until then uh really think that having up-to-date and high quality documentation is essential for a decentralized protocol so going to continue to spend a significant brain power trying to get that to be as good as possible and then separately the goal is to put out supplementary documentation uh along with the white paper upon replant so there's been some work going into a gift book uh there's some more technical documentation being written to support the Auditors so across the board the hope is to have uh better and better and better materials to support uh Bean Farmers but uh it's tedious work to do it properly so uh that that's the main focus at the moment okay great yeah I mean I think that it's fair to say the white paper is basically the equivalent of our Bible so it's great to hear it's getting the focus that it it deserves um good okay so that's largely the updates from the from the team um if you guys uh I think we've got just a again we had this later for an hour um we're planning to go over that full-time um I think since we've got Publius here if you have any quick questions um you know feel free to just drop those in the chat or raise your hand um but if we don't have anything come in like in the next maybe a minute or two uh we're probably gonna call it so uh eagerly waiting for you guys to drop those there raise your hands um we'll just give you guys a minute to see if anything comes up and uh so I see egg salad uh writing so I'll just wait for that but um just again one last time as you guys uh as we do kind of come to close then so bfp or sorry bip 20 uh live and it wraps up on the 21st uh drop that in the general chat so be sure to jump in and um to publish this point take a look and if you're in favor of it vote for it um and then as mentioned at the outset of the conversation we've got a channel for bfp 76 uh in terms of the um in terms of what pools that we've got as options so definitely take a look at that channel we need to kind of progress through that conversation and it would be great um definitely make sure you're asking questions along the way um always questions questions um so really quick in the chat uh Eddie after the barn rate started the whole team is on fire thanks uh yeah definitely a great call out to the entire team thanks Eddie a lot of great help um you know from everyone that's on that's been on this stage and more so many thanks to everyone uh Q3 budget Pepe Le Pew if we can get your help with translation in Russian fantastic why don't you shoot me a DM and we'll kind of keep that conversation going we don't have a Russian team yet so that would be great um esophagus yes uh at everyone for the announcements for bips and bfps uh we were previously doing that and historically what we are doing is dropping in at everyone in the in the announcement um I think uh that may have been a fall off of bfp75 well can I ask a question sofa please so I think there was an app everyone tagged in the channel itself um but did you not get the ad everyone or do you only get at everyone's to go to the announcement Channel this is good to know if people are not getting the announcements yeah that's a great question if anyone can let us know that I can say personally I got an at everyone uh even though but I might have and I don't think I was part of the channel um but so that's so interesting that not everyone got the ad everyone so perhaps what we will do should we just repost that at everyone uh we can repost it in the announcements uh you know going forward perhaps we should announce it in the announcements Channel 100 that sounds great I appreciate that feedback guys um okay so really so it looks like lone tree's got a question um police maybe you can tackle this one uh hoping to get clarification on there not being a way to earn stock until the replant begins uh I.E there's no way to participate in governance as a new user since the barn raised so that is correct uh the way Beanstalk works the only way to acquire stock is to deposit Assets in The Silo and currently you can't deposit Assets in The Silo so unfortunately yeah there's no way to buy stock to participate in governance until the protocol is back on okay we've got a couple people typing here still um okay so it seems like it's still kind of a lot of conversation about how we'll do these announcements uh both bfps and bips and as mentioned so appreciate that call out topic please and it'll be sort of continuing it we'll be sure to keep doing that uh in the announcement Channel again historically we had been dropping both when the event uh kicks off or one at a bfpr bit kicks off and when it closes um and we'll just continue to go through that process on the announcement Channel um so we'll just if anyone has any last questions benjc type in Austin as well just give you guys a minute but then if not we will wrap things up yeah and that's a that's a great call at Austin so that's what we'll we'll continue to go back with that um I think the other thing that we were talking about is uh not just when a bfp or a bip is live and Austin alluded to this earlier we were talking about it as well the core team is we can discuss it both when it goes live uh then as it's as a bfp or a bip is still needs to be voted on and then as well when it closes so making sure that the team understands what the community understands that it's still live and accessible um so police Benji asks real quick uh will unripe beans be convertible with Silo within the silo I.E from three curve from three curve being to eighth being four no you'll be able to convert the unripe lp uh to unripe beans and back and forth but not within different types of LP the unraved LPS has been implemented only as one type of LP token great and then uh I think to continue with lone tree's question earlier in terms of stock uh warm porridge asked uh if what about the plans to make stock liquid and as an asset uh to be potentially to be used as collateral well that's a very interesting question so the the plan uh from the initial deployment of Beanstalk was originally to make stock and seeds liquid upon a lot of discussion with the community It ultimately seemed like in order to offer the Stylo flexibility that making seeds permanent uh or seeds liquid we should say uh was a problem but the question on stock liquidity is a very interesting one from a variety of different standpoints particularly when it comes to whether it creates a more reflexive or anti-reflexive system and the reality is that you know the specific implementation of stock becoming liquid is probably months away uh at this point even though the thought was it was months away upon deployment it continues to be uh in the future and there's there's a lot of sophistication when it comes to allowing people to effectively leverage their stock or their governance tokens to get right and particularly if you have liquid stock how does that affect the Integrity of decentralized governance that's probably the biggest open question so given the nature of the Beanstalk exploit which was a governance related exploit the the difficulty is it is apparent and the goal is to get this right so making stock liquid is an increase in the sophistication of the governance system and uh some more thought and discussion definitely needs to be had on that front but it remains uh definitely a goal over the next a couple of months let's call um then just a bean asks um how how the government's voting happened concerning stock will be locked until the barn raise starts getting paid off well the concept is that there should be a non-zero amount of stock whenever the first beans are minted and given that the protocol is going to replant above Peg the expectation is that there should be stock uh basically immediately uh it's impossible to imagine a scenario where you're not going to have stock after the first uh season passes so it won't be I I don't really think that this scenario plays itself out where where it becomes an issue so the the haircut on stock to all existing Silo members is equal to the percent raised in The Bard raise you know given we've already raised something like 12 and you know that number can only increase that means that there will be stock upon replant and there technically already is stock equal to the previous existing stock times the amount raised um so all that stock will be voting stock it will be active stock and as more of the barn raise gets funded more people you will be able to update your unripe deposits to be equal to the new bdv given the new haircut so say you had 100 million stock before and we raised 20 of funds at replant you will immediately have 20 million stock um I guess it's a terrible example because 100 million is a big number um but you all have 20 million stock and then say we recap up to 50 you'll be able to update your deposits to now have 50 million stock under that not including you know the groins stock which you'll also receive in the process but there will be stock at immediately after replant and you know there will be continue to be new stock entering the system and as the barn race continues to get paid off more of that old stock will be given back to you got it then please um Exile it kind of expands on that a little bit as well yep or go ahead um I don't know if you Excel if if you're going to address what egg salad wrote that'd be great uh just in terms of risk of a large solid deposit being able to pretend the risk of a large solid deposit obtaining maybe too much stock or a lot of stock well this is the whole I mean it's important of proof of stake system right it's that the value of the governance tokens Can Be matched in the market so in general the way Beanstalk works I guess with the exception of a flash loan is that if you're buying the stock to participate in the system that that actually creates demand through which other people can sell into and so there should be an opportunity if there's someone that's buying a significant amount of stock to take control of the system for people to sell into that so it's an economic transaction but as a proof of stake system there's nothing that you can do to prevent people from purchasing a significant amount of stock foreign [Music] Excel and you're welcome to jump to the stage as well as ask these questions but then next solid continued by saying isn't the percent drastically altered uh owing to Lock Stock what is what is locked stock and I guess the answer just to beans question stock unlocks on when the money is recapitalized not based on when the barn raises paid back the barn rate is being paid back is exerts a penalty on when you unlock your unripe beans into beans that's totally separate from The Silo turning unripe beans into beans is a totally separate part of Beanstalk just the unripe bean token will be whitelisted for deposit in The Silo the amount of seeds in stock you receive for unripe beans is equal to the bean denominated value of The unripe Bean token in the unripe beam token the bdv of it is dependent upon the percent of funds raised which is basically equal to the amount of beans that have been recapped divided by the total amount of unripeout P um so let's say we raise 20 I get 20 of my stock that means 20 of everyone's stock is currently Frozen so that that stock doesn't exist that 80 of the stock gets wiped it's not included in the total stock count you no longer have that stock but as the barn raise gets paid back that stock will basically um you know be re-minted so basically we're scaling down if we get 20 of stock the total stock figure also gets haircut 20 um so it's not like there's lock or frozen stock that stock just ceases to exist until you get it back hopefully that all clears it up okay thanks uh thanks and and then egg salad you're up on the stage so if you want to continue with that and ask any more questions definitely do um sir how can you I think your name may have changed or maybe it was this the whole time but yes I think the call is being recorded so yeah as long as you see Craig in the audience uh we should be getting it recorded okay um so any last questions we're important to see you typing a little bit um we'll leave it I think we'll ask call for questions and we'll try to wrap um unless there's anything else pressing that anyone has questions about yeah and dropped a link in the chat with the Dune dashboard uh for stock and as you can see that with the the exception of the month prior to the attack whether there was a massive increase in the bean Supply and liquidity and the stock supply that uh the stock supply was in the same a similar range uh in the mid eight figures for uh for a couple of months and the thought is Beanstalk will likely replant with a similar amount of stock so orders of magnitude it will be probably a month before the replant you'll be in the same range but otherwise it's not like this the governance token is going back to zero it'll still be a significant uh a significant amount of stock so to answer your question Benji about allowing convert between different pools to help Arvin balance them um this will be possible with non-unripe tokens you know if you deposit beans or the normal LP token of which you'll be able to buy and deposit or atop and deposit upon replant those tokens will be able to be arbitraged and converted between different LP pools but the problem is that the unripe lp token has a very unique kind of structure and mechanics attached to it you know pretty much that may convert slightly more complicated from a perspective of when you convert how many unripe tokens do you actually get you know we basically have to convert from unripe Beans to beans to LP and then to unripe LP and currently the unripe lp token basically is a pro router ownership of a bigger pool of the actual LP tokens having that pool of LP tokens consist of more than one type of LP token is technically very difficult to implement um you know but that being said if this is something the Dow is concerned with you know when we do add another type of pool we can consider outing another type of unripe LP token for instance we can have an unripe B and eth LP token such that you can convert unripe beans into um but this would be a quite drastic technical challenge that's not impossible um but you know it is a good point to bring that we do want to be able to you know arm all the pools together and the question is is the fact that you can do that with circling assets enough or do we also need to do that with unripe assets ideally we don't have to um but you know what the Dow can discuss that going forward but at launch there will only be one pool so this will not be a problem at all and when we do inevitably launch another Pool we can discuss discuss it at that point and if when that pool gets significantly big enough for it to be a real issue I would just add though that any additional functionality well you know it can all be done it all takes time right and so the concept of replanting and then adding another Pool shortly thereafter well the timeline to replant with another Pool becomes a lot more a lot longer if now every single convert feature needs to be added including unripe assets you know nothing is is free so everything that's possible but every every development and every implementation needs to be valued at the time and the development resources that they're going to take away from other stuff so everything's possible but uh to publish this point unclear whether this will be at the margin a meaningful uh meaningful friction to try to remove and then just to continue on the uh on the conversation about the pools uh warm porridge I see her call it about the uh bip 75 and the other pools that are options um so Mr Mochi did drop a link there's a lot of conversation that we have going on there and um I think per Austin's message we're gonna be looking for the the top pools that have I think 15 or above so that we can resubmit uh a bfp in terms of the pool that we would launch with so definitely jump into the conversation there in that thread I think Mr Mochi even listed a very high level pros and cons of each of the separate pools that you'll find closer to the top of that chat and not sure if Austin is around but I believe that the plan is to First select the asset of which Bean will be paired with and then at a later date select the decks and or potential parameters such as the a parameter or a fee that the pool is launched with at a later Point um but you know not quite sure on that but you know that's important to consider as well you know if we do go with B3 curve what a parameter do we use if we go with beneath are we using curve or curve or you know curve V2 or uniswap I see Austin's here if you want to talk a little bit about that uh no I don't have much to add honestly uh you're correct the idea is that we have a follow-up bfp to uh select the given given parameters based on the the asset that the Dao wants being to be trading against initially so that'll depend entirely on what asset is chosen okay great um well I I don't see any hands I don't see any typing um you know thank you everyone again these these calls were kind of a mix of the first the update uh from the Dow and then q a at the end of it uh in the future we may continue the Q a side but the the goal of these as I said out of the gate is really to give you more of an update on things so definitely keep a list of those questions that you have and be ready for them in class uh you can always drop them in town hall in advance of class when they come up um so that you don't have to wait until you know the moment of and then just whatever whatever is just reply to your own link or something like that so we'll continue with this Cadence and continue to guys give you guys uh more foresight of events that are come police did you have any closing thoughts or anything I just want to remark uh this is really the first like traditional down meeting we've had since the attack uh while they've been scheduled this down meetings they've been used for other stuff mostly uh feels really good to have everyone back and just chatting about what they're working on and stuff and answering questions about it this is what it it's all about and building in a decentralized capacity is non-trivial uh we're kind of watching collectively a bunch of other Dows implode across the space and I think it speaks very strongly about Beanstalk and the community around it that with no money and the protocol being off and the whole Market collapsing around it everyone continues to not just work but work really hard and put in great work uh want to give a huge shout out to all the contributors that are just doing great stuff and it's a you know it's very exciting to be a part of so excited that we're back on the down reading schedule and hoping to have these weeklies so that everyone can get on the same page about everything that's going on and you know we'll just use this time to shout out there's endless work to get done if people want to pitch in and help out here and there make it known and uh you know it takes to Village so thank you guys very much great yeah thank you Publius um and then to that last point if you are interested in joining you know feel free to to shoot over a DM to me uh and then we'll progress conversations uh in terms of getting support but thanks everyone we'll give you uh seven minutes back on your day and uh we'll be we'll be in touch thanks everyone