DAO Weekly Meeting #25

June 23, 2022

00:00 Intro • 01:52 Operations Updates • 07:34 Marketing Updates • 10:04 Community Updates • 12:46 Copy Updates • 14:32 Engineering Updates • 17:20 Open Floor

DAO Meeting




  • Budget
    • Originally wanted to submit a Q3 budget before the start of July, but due to circumstances it must be delayed until Beans can be minted
    • Have a draft, but have to wait until it can be issued
    • Expect to see something in a couple weeks
    • Focusing on security with what little we have
  • Hiring
    • Will be implementing a process for managing contributors
    • Working on that, will have something to show in a couple weeks
  • Legal
    • Doing strategy work internally to figure out how to manage the risk of operating a project like this
    • DAOs are a new area for legal, so we have been trying to figure out what that actually means for us
    • We want to be building a lasting organization and want to manage risk in a smart way


  • Focus is on Barn Raise
  • Community Grant program will hopefully be out next month
  • Hoping to have some announcement after a call with Root tomorrow
  • There is a blog post written by Austin that will be coming out
  • A Bean Pod episode with Pickle Finance came out this week, another one with TBIQ is coming next week


  • Might be pairing the Community Grants with bounties to bring in new users and create quality content
  • Starting to work on a second Zero to Beanstalk video
  • Developing a quiz that will have a POAP tied into the NFTs
  • Chinese team has been doing a great job with translations. We encourage foreign language speakers to reach out to contribute.


  • BIP-20 reached quorum, paving the way for the migration of pre-exploit balances and getting Beanstalk ready for Replant
  • BFP-76 voting period ended, with the DAO voting for the BEAN-3CRV pool. Discussions are ongoing about the A parameter. Look out for a proposal on that over the next few days.
  • Work on the gitbook is underway.

Front End

  • Preparing to show pre-exploit balances on the old website, so they can be compared to unripe balances
  • Working on Silo and Marketplace for the new site, which has mostly been rewritten from scratch by Silo Chad and sweetredbeans over the past month and a half

Back End

  • No major issues on the audit front
  • Preparing to migrate balances on chain if everything looks good after balances are displayed and people have time to verify their accuracy


happy summer this is uh so I think we'll we'll start it out with this um so thanks everyone again for for joining um again you know the time of day is kind of unique for these historically random end of day in the US but we're trying to make sure that it's more inclusive kind of to the entire Global community that this represents so uh we'll continue down this path of having these earlier in the day to start if you're in the US and later in the day if you're in Europe um definitely leave some feedback and thoughts if you have it but but as a whole thanks for joining and um yeah we'll go from there so just a reminder for everyone that these these uh weekly sessions as well are a little bit more focused on giving you giving the community um and down members Etc as a whole and update of what's actually happening on the farm um it's definitely different from what we're doing on Tuesdays with class what's very Beanstalk mechanic focused um we've been leaving time for questions at the end of Publius and thankfully they've been able to squeeze some time out of their schedules to jump in and join camp promise that'll be the case going forward but um you know as we as we have the ability to do it and we'll do that right now um so yeah overall I mean I think just a quick synopsis and pulse of the what it looks like in the community out there overall I have to be honest it's looking really great the conversations have been really good um and I think the timing is very suiting in the U.S uh you know farm season starts in the summer so to speak so it's kind of when the kids get let out of school go back and work on the farm and it kind of like feels that way as we're jumping onto Discord every day and working so superseding to hear all the conversational Beanstalk and debate about liquidity pool and kind of like we're preparing for the Harvest um certainly started actually back in August but anyway um so we'll keep the keep the uh conversation as tight as we can um bring up the different uh departments and areas that we're working on stuff um have them give a brief overview and um then we'll leave some time at the end of our questions um so uh Phil core if you don't mind uh giving a kick quick kick off and kind of how you attack on stuff on operations cool hi everyone good morning happy uh summer um hope everyone's doing well um so a few things I wanted to talk about today for op stuff um so budgeting um hiring and personnel and then some legal things um so budgeting um so we had originally planned to submit a Q3 budget to the Dow um prior to the beginning of July I think given the situation with the with the replay and the fact that there's no beans to mince um we have a budget drafted but we're going to wait until we can actually issue a budget um uh which means uh folks here can expect to see something but probably um not for another um couple weeks um but the team has been working to figure out okay realistically given the state of the protocol and the fact that we're on kind of a shoestring budget like what what practically does uh you know should we be allocating and I think in Broad Strokes want folks here to know that um uh uh our top priorities are um one kind of operational efficiency like um obviously there's not a lot of resources right now so how do we um do a lot with a little um and you know shout out to everyone who's been contributing and and kind of putting hard work in um you know uh with a little compensation in the moments um and also want to be clear that like from uh where we do need to spend money or we are allocating The Limited funds we have is is around security um and making the show that we launch with um you know everything as buttoned up as we can so take away on the budgeting side is um you know we've got we've got a good plan in place um you can expect more clarity uh in the weeks ahead um so the next thing I want to talk about um is the team um so and just to be transparent you know I think one of the things that's challenging about um a Dao is you know how do you get amazing talents onto the project um how do you tap into kind of the excitements and skill of the community while also still maintaining some sense of like organization and um keeping everyone you know on point um and so part of what we're going to be um you know we expect to be implementing is um a process or a refresh process for um uh managing contributors moving forward because we're excited to tap into um this energy and talent in this community we also recognize that in a world where you know there's a lot of Persian work that needs to get done we want to be focused and we want to have some good processes in place um so we're working on that right now as well uh and again we'll have something more concrete to share um in the next couple weeks our big priority obviously is getting through replay ants are getting two replants and then we'll have some more um you know work to share to ensure that you know we're building the kind of organization that we need to be successful in the long run um and then the last piece I wanted to update everyone on is is legal um just continuing to have some um like uh kind of road map building conversations um and doing some strategy work internally to figure out you know uh how do we want to or to what extent do we want to manage the risk that does come along with operating a project like Beanstalk um you know defy and Dows are are very much like uh um a new area um for for legal and so we've been talking to folks trying to figure out okay what does that actually mean for us you know we want to be building a lasting organization here and we want to manage risk in a smart way so um no clear Direction yet but but we are trying to make sure that we're being smart about it and um you know we'll have more to share there um once there's once there's news to share so that's kind of it on my ends happy to field any questions or um offer clarification if any of that didn't make sense but that's it for me thanks cool awesome thanks Phil core um yeah I think on the on the the kind of the legal side that's I mean there's a ton of really interesting pieces that we're looking at um I guess functional side but for those of you who didn't join class or haven't listened yet I really recommend jumping in and listening to this week's session uh it was a really good kind of high level overview of of Dao's and governance I feel like in general it's something that's overlooked a lot with what what's happening at Beanstalk um and uh mod and Publius had a lot of really good back and forth so definitely recommend uh tune into that to get kind of the high level theory side as well um so actually on that note do you want to give an update on marketing sure um so when it comes to marketing the the overall messaging uh right now we're still fundraising or we're in the blind race but we'll be moving uh that towards uh the replant already planting um so as as we get towards there we'll it's already reflected but you'll find it's reflected on most of the content or the content that comes out that is going to be talking about Beanstalk in general and you know uh what Beanstalk is the boundaries will continue as is but the focus will be on the protocol itself um the media and PR I have a call tomorrow with the root team so we're hoping to have some announcement there soon and then there will be another one uh when when we replant um otherwise uh there's a community grant program that we're working on and hoping to have it out next month and the intention that is to to reward basically anyone from the community or otherwise who will create a good content about being stuck whether it's about raising awareness or educating you know existing people about how binsock works or you know the the the details of it um otherwise there's a blog post that will be coming out next week we had one this week that was written by by Austin um he posted it yesterday so I'll encourage you know everyone to go read it um there's a being put episode that came with pickle finance that was out uh or came out this week and there's another one with tibik who's a contributor to be in stock that will come up next week um and then otherwise the thing that we would want to uh uh get back on or put more effort and is appearances or Outreach in general we did that we did a tree exploit and then as soon as uh the exploit happened um but now with the overall thing was happening in the market on the overall crypto Market in general it may not be you know there's a lot of noise going on uh but as we're going uh back towards V plant that's probably something that we want to get back on and especially as as we go back again uh uh go on live um otherwise a few other things that we have in mind uh to work on which is like generally less convert uh transferring deposits these things once the protocol is up there we'll want to have content out there as well educating you know existing users on what these things mean and and how can they also make use of them that's it from my side thanks um yeah any on the uh the Bounty piece actually that'll transition I'll give a quick update on the community side so uh or sorry in the on the community grants that you're talking about um but so yamad uh is definitely started leading the instruction of the community grants piece and we're gonna have a chat uh later today actually about maybe pairing that with the bounties that we did in the past um or if not worst case scenario just stick in with the grants that we did those did a really good job of driving uh new users to the protocol and continuing to create you know good content uh that was um driven which is great um another big piece that we actually started kicking off uh early April and free exploit and everything was a focused on education um with Community itself so we all know how important that is um especially when we're looking at non-native investors uh and new users of Beanstalk as a whole um and so kind of full circle on the zero to bean stock effort we're starting to work on the script for the second video um the first one that you guys have all seen is that everyone has seen is on the main landing page the Beanstalk explained video problems we're aiming for a subsequent version of that that'll walk through a really high level the content of Beanstalk and Then followed by another one that I'll talk really quickly about interacting with it obviously with the update with fertilizer there's some tweaks that we're making to the script but we're working on doing that now uh then we're also building out a script kind of a scrollable script that um we're figuring out how that might pair on the site uh that ties into the overall zero domain stock theme uh and then there's a quiz as well that uh ma and I will be working on that we're trying to have a pull app tied to that will tie itself to the nfts and the Rarity of those uh so actually on the note of the nfts themselves and signs underway we'll be dropping more leaks as we progress and anything else that we have in terms of updates on Rarities and things like that um again the big Focus though obviously from an engineering perspective is not on being nfts at all really um it's really to get the protocol up and running and then thereafter we'll prioritize the nfts um hence that we've given the timeline we have of post uh replant for delivering those uh and the event side I will continue obviously having these class and the Dow updates um any other events we'll share with you guys and yeah as a whole the the community the community uh International side has started to get really interesting uh with the Chinese team have done they've done a very good job of bringing a lot of conversation to light working on translation so this is kind of a call to action to anyone who may speak another language or wants to join out and help volunteer to help uh build up those with me to shoot me a DM um and in general you know if there's anything else that you want to be looking at contributing uh to being stock as well just to DM um yeah and that's largely in on the operations side um Austin do you want to give an update on how it's going with the copy uh yeah that sounds great thanks Jacob um cool so from a copy front uh maybe I start uh talking about some of the proposals that have gone out recently in an upcoming so I guess an update from last week uh you know most folks are probably aware but just for the sake of completion uh bit 20 for each Forum uh which was really exciting and that was the migration of pre-exploit balances bip one of a handful of steps to get Beanstalk uh ready for its replant State also bfp 76 uh the voting period ended yesterday I believe and the Dow ended up voting for The Bean 3 curve pool so in the meantime there's been a handful of conversations with like Mochi and Breen uh who've been helping out a lot with uh you know decisions around parameters for that curbpool particularly the the the a parameter so I would be on the lookout for a proposal on that over the next few days perhaps early next week um and in the meantime I think work on the get book at docs.bean.money has uh properly kicked off and I'll be working on that with uh with Ariel and and some other folks so pretty brief update online but uh I think that's everything on the copy front awesome great thank you um cool so I think uh I don't see Mr manifold in the audience so um mod I think you gave the quick update in terms of you're going to have a conversation with them with rude soon and uh we'll hear an update from root and what that means for bean sprout probably in the coming days if not next week um so do you want to give an update on how it's going on engineering maybe even uh but we can kind of tag team though yeah sure thanks shut UPS um so what's going on I think two main efforts on the front end side so uh the first is we're preparing to show uh basically pre-exployed balances on the old websites so that they can be cross-compared to uh we'll show on the new site which is uh picking on right beans so for for context uh certain types of Prior beans and LP need to be uh what we're calling picked but basically claimed um to your to your account after Beanstalk replants and so we're going to show those balances on the new site let you compare against a forked version of ethereum on the old side so expect to be able to to access that in the coming days hoping to launch that today but we'll keep everybody posted beyond that we're just scheming ahead on the front end there's a there's a lot to do we've basically uh cool bean and red beans and I have rebuilt the the front end more or less from scratch over the last month or so and we're steaming ahead pretty well right now working on a mixture of The Silo and pod Market functionality um so some of that may be visible but uh you can't interact with it ahead of replant but in general just trying to get all of that ready uh as quickly as we can so you know that's uh it's a quick update but happy to answer any questions as well great thank you um yeah I know everyone in the audience if there's anything that you do want to ask a question about you can either raise your hand similar to class or just drop something in the town hall chat um previous is there anything you want to give an update on in terms of the back end and how that's progressing um so you know all is still looking good on the audit front you know no major issues have come in kind of over the course of the past week which is great uh but you know something very substantial could always be found in the audit last day so it's really hard to kind of uh you know give any sort of updated timelines kind of about when the full audit process will be finished um you know kind of on the migration side to Chad's point you know kind of showing the unright balances on the UI and you know once we've had some time for people to confirm not that balances seem right we plan to execute the migration on chain so you know just steaming along with uh you know getting uh you know the last little bits and pieces ready for replant which is uh exciting stuff okay great and then boobies at the end of the audience they do similar to in the past there they provide a full audit log that will have access to correct believe so um you know have not received full confirmation on that but uh we'll double check with both Auditors and get back to the dial on that okay great good um so I mean that's I think the really the update if there's anything else in it as I said anybody wants to jump up on stage and ask a question for drop it in the town hall chat in the past we ran these they ran for about 30 minutes we were running them so it's kind of how they're looking right now um so unless there's some other conversation but as you guys are if anyone's able to drop a question just a reminder to what uh kind of some things that were touched on uh the new bean pod podcast that came out definitely tune into that Rex and dumpling talk with Larry the Cucumber at pickle Finance about Beanstalk Farms which is a great play on farms and food as a whole but they talk about D5 more seriously Barn race itself I think everyone's staying pretty closely in touch with it but it's great to see we're above 10 million uh 13 raised and I think it's like 340 wallets so far so it's looking really good and a lot of other content that'll be coming out into uh once per month earlier Point as well definitely let's take a look at Austin's piece that he wrote uh he did a really good um synopsis of talking about reflexivity and what that means to be anti-reflexive and how Beanstalk fits into that compared to um systems like Terra Luna um so a lot of really good stuff that's going on and I I you know it's not the biggest class that we've had to date I think it's great that we're continuing to grow but just as a whole we want to continue to keep you guys apprised of everything that's happening so be sure to continue to shoot messages and questions I'm not seeing anyone typing I'm seeing one person typing right now uh so we'll grab that question from jams um maybe publish if you want to tackle this one um James asked how does the team view generalized converting between unripe LP um I think we've all seen this but then there's a lot of discussion about Beyond right ethlp versus some other stable LP So currently in the version of Beanstalk being audited um you know kind of there exists two unripe tokens there's the unripe beans and the Enright Bean 3 Kurt vlp now these unripe tokens are a very unique structure of token such that you know it allows Farmers to uh you know basically chop these tokens into the underlying asset at you know kind of the the given chop right um so what that means is you know these LP tokens are structured like a vesting token when it comes to convert you know we've implemented convert between unripe being three curve and unripe beans um you know and there's been a lot of discussion lately about the potential of adding you know an unripe Bean if LP as well so um you know that's something we can definitely consider and you know allow converting between unripe beans and unripe beanies but you know the the convert logic between unripe assets is probably one of the most complex you know uh you know kind of mathematical intensive parts of the code and you know thus any sort of you know re-implementing that logic or duplicating that logic with a different pool is going to be a substantial amount of work and it will likely need to be audited before it can be released or added um which you know obviously isn't ideal but um you know if it's something the Dow really wants we can discuss kind of post replant but it is important to note that you know just simply adding an unripe beneath l p is something that will take multiple weeks and you know cost money and Audits and if you know moving forward on the pace of beanstalk's innovation is something we really want to step away from from a moment to add this you know additional unripe token we can definitely you know talk about that but you know it is important to note that with all these things they're in checks are balanced you know we have we have infinite things on the Beanstalk roadmap and you know to kind of step away from that for another three weeks after we've just stepped away from that for kind of a whole two months would be you know uh you know um not the most ideal but it's like you know if the Dow wants it we can do it hopefully it's um yeah I mean I think the conversations are going to continue down that um and I think as the as we as the Dow continues to talk about potential ways to you know what timelines look like that for that I think it'd be incredibly helpful for us to have these conversations uh like this in public um Silo really quick I think uh maybe your best best to answer this one Kim Young Bean asks what is tractor you'll find out one of these today Kim Young being perfect um cool uh so it looks like I think we'll take one more question and think I see you type in um which uh so in general again probably something maybe you can help address this one but uh it's about public goods funds um in public good funding which you think you've been a big advocate for for many months now um but he mentions a tweet from metallic um about well I'm just gonna review your road think um metallic wrote a great threat on Twitter today admonishing the predominance of status signaling among prominent players in the crypto space um I'll lead into three ACS one rate of 50 million on a yacht taking the rest of the crypto space down with the ship and Raider with support for projects that direct Revenue towards public goods funding um when will be in stock Embrace public goods funding initiatives after restart well [Music] you know there's there's a lot to be said for the benefit of having uh the protocol distribute assets to people that are adding additional value to the protocol Beyond just using the percent and on the other end the concept of writing in those contributions into the protocol such that it happens in perpetuity means that there's effectively a tax right X percent of all new Bean mints will go towards public goods funding that's a tax on the system and you could make the argument that minting beans one time for development uh is also a tax on the system but having it be a one-time thing that requires a dow vote to do versus making a one-time decision and then it happening the perpetuity are fundamentally different taxes if you will so historically uh Beanstalk farms and bean sprout have benefited from these one-time mints and I think we can all agree that Beanstalk farms and bean sprout have been beneficial to the growth of Beanstalk and the speed at which Beanstalk has grown and the beans minted for the development from Beanstalk farms and being Sprout have been put to good use but the concept is what does it mean to do this at scale out and to some extent if you think about the role of Beanstalk or beans as a currency the fact that you get interest from holding the beans themselves is potentially such that people will be incentivized to use the currency and add value to it but there's obviously a tragedy of the comments when it comes to doing work that nobody wants to do that isn't necessarily going to make money for the individual that does the work there's definitely some budget that needs to be allocated to that so the hope is in the same way that if we look at how the development of the ethereum ecosystem has been both complemented by the ethereum foundation uh as well as other capitalist actors in this in the in the ecosystem that own a significant amount of ethereum uh the hope would be that between one-time mintings and public goods fundings that people donate to in a philanthropic or a charitable manner that that will be sufficient to to continue to develop or incentivize the continued development of Beanstalk as much as is necessary great thank you Mr manifold I just seeing you just saw you pop in um do you mind uh we've kind of posted wrapping things up do you want to give a quick update on how things are going on on your side with everything hey guys um you know don't want to take too much time here um but a lot of good progress on uh the root end um you know famous uh busy building the product design the design the system um you know we've kind of started on on the outlines of the white paper um and continuing to take in you know a few more checks um it seems like every week there's there's a couple new actors new funds or or investors that you know learn about roots for the great Ryan and get interested um and it's a great way to also introduce them to Beanstalk obviously um and so you know it's fantastic exposure for the protocol um you know aside from that on the bead Sprout end of things you know uh you know Capital conversations are still ongoing uh although not as you know rapid Pace as you know a few weeks ago um you know I think there's a lot of participants now uh well educated and aware of The Bard raise and you know our father done homework on or are currently doing homework on page talk um and so you know we're pretty optimistic um on how the barn race has went so far you know um you know what what you know we we might uh look like in a post restart world uh from a liquidity perspective um so so yeah all good things uh but nothing too uh material to update you guys on aside from that great thank you yeah I think any material is uh is good material so I appreciate you jumping up and giving the update on it um good well unless there are any other questions like I said we're going to try to keep these these meetings pretty tight uh in the future we'll keep some space for the for the town hall chat but definitely encourage everyone to continue leaving those questions uh both in general and whatever active threats are working on uh or continue to bring that list uh for class as we have them on Tuesdays uh and unless there is anything else which doesn't look like there is I'll drop a couple links um just about some of the content uh that we've talked about earlier in terms of blog posts and bead uh podcasts um and let me just check questions one more time um actually there is a comment from Walkabout that said we need permissions granularity between devs and the Dow and in their opinion um walk about do you wanna if you want you can pop up here real quick and uh elaborate on that real quick um and then we can close out the session with that you want to jump up foreign in the meantime really quickly as we try to get a response from them uh Mr manifold do you want to just have been just asked if root Finance is investing part of the funds uh into the burn race um probably don't want to comment on Route specific strategy just yet um In fairness to the team and investors uh probably you know when I Greenlight some of that but you know uh in general I'd say you know the barn race is a very interesting entry point for any individual participant into being stock perfect great okay um let's keep this tight um if you have other questions anything else to DM about Etc um as I said just shoot messages but thanks everyone for taking the time for the call