- Projects update
- recap of
- BeaNFT (Kyamites + wherehaveyoubean)
- pod marketplace (beanjoyer, Lawrence, stolenhamburger)
- national bean day
- twitter spaces about stablecoins in DeFi
- merch project
- integrations (George update)
- AMA with Hugh from Klima (see notes)
BeaNFT (Kyamites + wherehaveyoubean)
- Want to make sure we don’t dilute the genesis collection
- converting NFTs over to new diamond contract, will share more details about this soon before sharing via Medium article
- been working on the design side, Publius been helping out with development
- will be rewarding any investment in the protocol (not just sowing)
pod marketplace (beanjoyer, Lawrence, stolenhamburger)
- chugging along, hard to say when it’ll be done but aiming for next weeks conservatively
national bean day
twitter spaces about stablecoins in DeFi
- Saturday at 1pm PT with Dumpling, ipoandchill, hypebae
- topical given senate discussions about stablecoins
- mugs are back order, hats are here, if you want a t-shirt with your BeaNFT please let FarmerDan know
integrations (George update)
- working on budget for Q1
- grants program (Beansprout, the incubator) to allow folks who want to work on projects to get funding in a more straightforward fashion and provide operational support
- Beanstalk Farms will hire and onboard new team members from community managers, solidity devs, etc. This org will fund Beansprout
- The community would vote once to provide funding to Beansprout. From there, if you want to work on a project (example: merch), Beansprout would evaluate the proposal and issue the funding via multisig. This won’t require a Snapshot for every single project proposal as a DAO.
- Beansprout would be a sub DAO. Considering 4 of 7 multisig for allocating funds from Beansprout to a given project
- Beanstalk Farms should transition to be a talent allocator of projects funded by Beansprout
- goal is for Beansprout to be decentralized funding mechanisms for projects
- talking with folks at
- Bancore (still evaluating risks with Bean, getting on a call with Publius soon)
- Avalanche (major blocker is eng support and they’ll require audits first)
- number of folks looking to help out with BD process, interviewing some folks this week
- PR front: could publish these notes as a newsletter, maybe on the bean.money site somewhere
- Ad budget for Q1 — another idea to add to this list
- 0xEvan working on a doc to help people in the wild understand Beanstalk better, hopefully shipped before Christmas (FAQ, style guide, etc)
- Kyamites: we could really use a straightforward tutorial to participate in Bean (beginning to end, fiat to sow) for folks that are new to crypto (setting up a metamask, etc). Shoot him a DM to work together on this with him
For coming by. I hope there's not too much honking outside of my window so you can all hear me pretty well. So I have a quick little agenda here, and then I'll kind of open the floor up so people can can talk. I want to bring up people who are. First thing is community led projects. So I want to talk about community LED projects and bring up some people.
Whoever happens to be here.
And if they're not here, I can kind of give a brief description of where they're at on those projects. I wanted to give a quick recap of the structure meeting that happened on Tuesday for anyone who wasn't there. And Evan did take notes on that. So I'm sorry, Austin took notes on that. So that is available and also the recording of that is available.
And then I want to talk a little bit about some stuff that's going on. It's kind of some marketing ideas and that sort of thing, but mostly that I just kind of wanted to open it up so anyone could could talk. So starting off on the community led project side, I have five projects that I'll just name and then we can all bring up some people to chat about them.
So we have the next project by Gww. And where have you been? So I see assignments. So we have assignments here and he'll come up and chat about that. Then we have the pod marketplace, which we can chat about. Three is kind of a fun one, a farmer just DM me and said, Hey.
January 6th is National Bean Day.
We got to do something for it. So let's.
I don't I don't know if they're here, so I might have to just get a quick update on that. But they're planning something for that and then IPO and chill and hype. Bay and I will we will be doing a Twitter Spaces 1 p.m. Pacific Time. So that's going to be fun. There will be a link for that and you should I'll come if you got a chance.
It's going to be a more of a stablecoin.
Stablecoin focused thing with.
Stablecoin defi. So it's not just like a bean shell, but there will be some chat about being obviously and that should be pretty fun. And then I can chat for a little bit about the Merge project, how that's going. I'll just say that right now I've sent out eight hats, which are the first thing that have come. The mugs are on backorder, which kind of sucks, but and then the t shirts, I'm if you could want a t shirt, I can do your custom NFT with that.
So Farmer Dan is going to be helping me with that too. So you can DM me and we'll get it going. I'll probably pass off to Farmer Dan at that point and then you can get your get your merch up. So with that, I will bring up the assignments you want to chime in here and give an update on the NFT NFT project?
Yeah, absolutely. So thank you. And I yes. On the NFT project, we've been punching away pretty hard since it passed and a little bit before that as well. The big thing is we've been been updating the design a bit to kind of real key takeaways or key focuses for the project. I mean, obviously, we're trying to drive newness, new people interested in the protocol or that may have not heard of the protocol and find a way for them to basically adhere to an attached to it from an NFT perspective.
And then at the same time really trying to make sure that we're not diluting any of the nfts that were created from the Genesis collection. We've actually done quite a bit to make sure that the former is surely well positioned and cushioned. So we are going to be rolling out a little bit of a marketing campaign, and I'd love to talk with the IPO and chill about that, maybe be merchant and the rest of us as well, where we can potentially push something out on all of our social channels and Twitter and stuff like that to get some get some noise about it.
But the plan is actually to be rolling out the the next set of nfts within the next 4 to 5 days. As I said, we're still working through some of the design stuff. We're still working through a bit of the code, but high level, we're actually going to be converting the NFTS over to a new diamond contract, which will be entirely off of Bienstock.
We'll share some more details of that in the near future. But with that, we're going to adhere to it, some voting structure as well to it. So it's basically going to be set up like it. So again, we'll share some details with you on that before we push like the Medium article live, we've got all of this fleshed out and docs and stuff like that and we are still working really, really closely to get it all done on the code side.
And we've been working really hard to get done the design side. And this next season what we will give a heads up on is it's going to be a little different this than last season. We're basically going to be rewarding any investment into the protocol as opposed to just focusing on selling. So it's gonna be focused on, as of now, the top five investments per season, no matter the investment that you put it in, will be limited to 2000 bins out of the gate, which is part of the longer term being NFT strategy.
And then starting next week, I was hoping to actually have it this week, but then starting next week we'll have we'll have like a stronger, more robust kind of one off session where we talk through the nfts and the resulting ecosystem. It's going to definitely be a bigger piece than what it was in the past, and we think it's going to drive a lot more value in the long term with the NFT that everyone's holding or the new ones that they're going to get.
So yeah, more to come. And while we have track and information to the community as we have it.
Okay, very exciting. Does anyone have any questions for him? Salmon tease. I'm the obtuse. I suppose that could be opening a can of worms too. Maybe we should keep it. That was pretty succinct, so maybe we'll keep it there.
Okay. It was.
I'm trying to invite.
Her in if I can get her to talk about the National Day. But let's see. I might I might ask Publix about the pod marketplace, what the status is on that. I know a few people were working on it. Published. We can't hear you. Looks like you're unmuted, but I can't hear you. At least still, unfortunately, I can hear you.
Awesome. Apologies for that. Yeah. So the pod market is chugging along. I mean, it's being judged to be a good job of weeding out and awards this kind of stuff that on the UI side, which is great, installing hamburgers and helping out with designing it. So, you know, now we got a great team that seems to be working well on it and you know, hard to say kind of an estimated time when it'll be done, but we're hoping in the next couple of weeks.
But, you know, obviously the one force that our dude outperformance could be.
Okay, great. Sounds good then. I don't have IPO in show here, but for that, that's just kind of a check out the Twitter spaces. You know, I'll be there. I will be there, hype will be there. And some other people from some other sort of adjacent projects are being invited. So it might end up being kind of a big one.
So that's Saturday, 1:00 Pacific Time. I did add that to the Discord calendar. So just keep your eye out for that and we'd love to have you there.
And then one more.
Thing about the Merge project is I'm kind of looking to expand it beyond the initial 30. I think I've found a couple of cheaper ways. There was 2000 beans allocated to that and I'm just going to, you know, kind of some of those were were for payment for me, but I'm just going to kind of spend them all on the merch if I can.
So it's really cool to get out of the hats. I they're, they're really sweet and people are those just start to arrive. So check your mail. I told most people who you know it's going out to but there might be a couple of surprises there. And if you're jazzed about getting your your 50 on a mug or you're after you've been out of town, a mug or a shirt, just let me know and pester me a little bit.
If there might be.
One or two people who.
Have sent it to me. You haven't sent me their address or something like that, so just let me know. But between me and Farmer Dan, we'll get it out to you. So that's pretty cool. Now on to the next thing is a recap of the structure meeting that we had. So we had a really cool meeting where we were talking with Hugh, who I learned was an older community member than I realized because he was previously Jim Bean.
You might get some of the older community members might remember him, but.
Is was experience has experience with Klima and with OAM and he was really, really helpful and we just kind of almost use that meeting as an AMA with him, which was really helpful. So yeah, he was kind of telling us about common pitfalls with, you know, with new daos scaling.
But without the support and the kind of the, the processes and documentation that you need to keep everyone on the same page when you all of a sudden go from having, you know, 12 people working on a project to having 60 people, and how that can just become really overwhelming. And people processes can be opaque and, you know, things, you know, it could be a lot of friction that can be really harmful.
So we're doing our absolute best as we grow to build out these processes and onboarding off boarding, training for people who, you know, who are going to be using the notion, making sure everyone's consistent about how they're doing things. So that's really that's really the goal here. So that was really great. We also chat a little bit about overall structure, the type of departments that that OMA has, that Klima has, but other Daos are seeming to have.
And how that's going to fit in with us to be in. So that's still an open conversation. We're probably going be having more of those structure meetings. It's certainly one of the top focuses that I have right now and that Publius has and that we're just trying to build this out in the smartest way possible and the most attention, a way to not just kind of throwing things together as we need them, but trying to really architect it from kind of from above and anticipating what our needs are before we scramble and need them.
So that's pretty exciting. And yeah, that's.
And so I'll just drop a link.
To there maybe in the barnyard chat for the the meeting notes Austin if you maybe can do that in a everyone might not have access to the notion just yet so we might want to do that in a PDF or a Google doc or something like that so people can see it. But there was also a recording of it, so that could be really good for people to listen to.
If you have time. Perfect. Oh yeah, that'd be perfect. Just want to make sure that people can see it. It works. Okay, good. Okay. Yeah. Yeah. So the one other thing I want to bring up just now, I'm going to kind of open the floor so anyone can can chime in if it gets too messy. As far as we have about 28 people or so in here.
If it gets too messy, I guess we can go on kind of a a queue system or people to raise their hand in the barnyard chat, maybe, but or maybe they can type out their questions. But the first thing I wanted to say was I listened to the the Nasdaq, who I see is here. What's up? Nasdaq the podcast with Publius twice.
And I just loved it. I thought it was so good. And I just sent it to I have a email exchange with David Stein at The Money for the rest of his podcast, and I sent it to him and I thought it was a good way of you know.
It's a really good kind of.
Explainer, I think, for someone who has a little bit knowledge of crypto. But, you know, that was such a great podcast and I was thinking that could be so good. You know, so many people through the anti university have been convinced, you know, to give bienstock, you know, another look or to sit down and read the white paper or but you know, as far as one on one chats, companies only had so much time.
So I was thinking if we have any connections in the podcast world for a little bit bigger kind of podcast or crypto, you know, crypto as a whole podcast, I think that'd be a really amazing way to grow the community. So if I don't have a lot of connections in that regard, but you know, I have a couple if.
Do that, I think that'd be a really cool thing to do. And maybe a community led project to reach out to the top 25 podcasts, you know, and Defi and crypto. I'd be happy to put together, you know, kind of a, you know, sort of a so-called sales pitch for.
If we had that kind of access. But I just, I thought would be kind of a cool action item for us to maybe do. But that's just an idea for kind of the marketing end of things. I don't want to be hyper specific here, so yeah, now without kind of opening the floor, I'm going to check out the barnyard chat.
And anyone who wants to chime in can chime right.
Get dumplings. This is going to be it is. Again, there's actually a kind of a bucket of things that I'm looking at in terms of marketing, if that's okay, if I kind of cover a bunch of that stuff.
Yeah, definitely. Go right ahead.
Yeah. So there's kind of like a couple of areas just out of the gate that I'm trying to kind of corral all the efforts that are in because we've got just some really great attempts to push product through. So just like on the activations front in the near term actually as to just what you were saying about Jelly Bean in High Bay, I know you started the conversation with them about International Bean Day, and I think I'm probably on board with that.
So we're just starting a conversation just over the discord about that. I think it's January 6th, so it's coming up pretty soon. But obviously once we kind of get some thoughts and formulate some ideas around that, we'll push forward. Jelly Bean has some ideas in terms of putting stuff at the forefront of the site, which I'm not sure if it's feasible or not, but we'll kind of loop back on some ideas and share that.
Then I was actually talking with Gilfoyle for something else that I brought up over the weekend, which is the idea of looking at potential partnerships with coffee bean companies. So Gilfoyle and I have like a very loose start of a conversation going on that over discord. And we're going to have a conversation this weekend, I believe it's on Saturday, to spell out that as a potential activation as well.
And then the other big push, as I mentioned, on the left front. So there's a lot that we're doing there. Where have you been in doing so? The medium piece that we need to work on pushing out with the community, maybe even doing some ad options that you're talking about, probably it's about some more to come on that.
And I want to sync up with IP on that, I think because he's got I'm sure you'll have some good thoughts. And then like on the brand guide and the creative and the UI and the UX, just because again, I think it's kind of a handful of people that are working on it. I'm going to try to get in time with Stone Hamburger over the weekend to hear what he's working on from the Yorkshirelive perspective.
And same with a few others trying to connect with them as well. And I think there's a creative direction meeting coming up in the coming days. So just to get a little bit more grasp on total brand guidelines and brand thinking.
Yeah, that's that's great. Oh, sorry. You got to go.
Yeah, no, sorry. There's more. And then on the PR front, overall. Yeah. So I know Hype Bay had her proposal, I believe passed and she's obviously had some good excitement and push that she mentioned in the conversation. So I'm waiting to hear back from her to set up time to talk about the various pieces that she's working on.
But that being said, Austin has obviously drafted all of these great recaps. So he and I are going to connect, talk about a way of potentially converting these into newsletters so that we can figure out how we would socialize and push those out more as well, either using them as Twitter push or something that we publish on the site.
But just first and foremost, putting it in a format that we can use and socialize. Because to your point, dumpling, there's just a ton of amazing content that's coming out from this. And anything that we can get, you know, to help convert publishers thinking down to something that's approachable to everyone I think is really good. And I'll add that podcast call out that you just made, and then there's a couple of other things in terms of like talking with IPO about some social outreach and then like a broader marketing calendar as well that I'm thinking about.
So there's just kind of like a more comprehensive way to try to corral all the bits and pieces that are happening on that front.
That sounds great. One thing that you just said that totally was on my list but I hadn't brought up yet is yeah. Is advertising and having, you know, more of an ad budget for Q1 so.
With connections either to advertising agencies that might handle something this is something that was and I was discussing is, you know, having more of a like a traditional actual ad budget for Q1. So if people have connections with, you know, with good, you know, ad agencies or if someone here seventies maybe you can handle this IPO and show maybe you can handle this of you, you know, of you basically being the agency and the buying the ads directly and having ideas might be a more effective use of that money.
So that's certainly on the table for Q1 and that could be a really exciting thing. So I think glad you brought up the I'm glad you brought up the ad budget because it's going to top my mind.
Yeah, I think it's certainly something we can push out on our own. I mean, there are obviously there are a ton of agencies that work with smaller teams to do like good viral pushes and stuff like that. But they're going to charge obviously the commission stuff. So just another canvas, another thing we can add to the list in terms of our conversation.
And IPO and.
Cheli you just showed up thank you.
Wanted to I was just.
Chatting earlier about.
The the Twitter spaces. I thought you might want to jump in and just say a word or two about that and thinking that's going on with you in this on the social end.
Yeah, for sure. Twitter spaces, you know, we have been talking about just doing those regularly. You know, obviously all are welcome to join. I think, you know, I'm going to butcher this Twitter name here, but so I might stumbling type in myself. We're going to be hosting one on Saturday at 1 p.m. Pacific Time on Twitter. It should be on the the calendar on the notion side of things or your dumpling.
You mentioned you added it and we're looking to actually schedule it on the Twitter side of things. But Saturday 1 p.m. Pacific, if you're available, it's going to be on Twitter. You know, obviously join in the idea behind this was Tim to kind of just make it more broad about Defi and obviously there's some stuff going on about Stablecoins via what's happening in the Senate.
So the discussion, it's almost like a like a veil. The discussion is kind of broad intellectual discussion. But, you know, obviously we're going to want to bring being into it. And the goal is to educate folks about being, but also just make it a fun, cool place to just talk about what's going on in Defi. And, you know, ideally we do this on a week to week basis and the goals are to community build among us.
But also, you know, ideally it grows and it becomes something that, you know, people tune in to from the outside and maybe we can even have guests. So, you know, excited to do that.
Yeah, super exciting. Looking forward to it. I'll be.
I'll be letting you lead. But we're excited for it.
Yeah. And I'll send like another reminder in the general chat. Obviously it gets filled up by the other stuff, so I'll look out for that.
You also have a good base of Twitter followers, so I think it could really help draw people in.
Yeah, no, I mean, look, if we all start doing it, you know, my view on this is, you know, obviously the more eyeballs and ears, I guess for Twitter spaces, the better. You know, for those of you who haven't done a Twitter space or clubhouse or even or any of the million things, it's very similar to what we're doing now effectively.
So, you know, it's not something where you have to you just need a Twitter account. If you don't have one and you can join in and say stuff.
Yeah, and something else since you're here, I was thinking of doing a like a branding kind of a branding call this weekend, probably assignments is would want you there IPO and Joe we could get anyone else who's kind of working on the creative type of stuff just so that we because we had mentioned in the last branding call maybe trying to come up with a cohesive kind of you know, I don't know exactly, you know, but it's.
The same way of.
Talking about the same stuff, you know, kind of a cohesive sort of through line style guide almost for being stock, which might be something we should think about a little bit more as we do a lot more of this. You know, this kind of as we expand, I guess.
Yeah. And on that front then I think I think it was sorry. I think maybe stolen hamburger got us talking about I think there's like a again some somebody had talked about a creative direction meeting coming up but between chatting with someone hamburger and I think P.K. and Ryan Ryan each will get a little better feel for some of that but again just that them something else we should definitely be open and also IPO until I have to give a huge call out for your your thread this week when it came to beep seven passing I mean that was absolutely phenomenal.
Oh, thank you. Yeah. I mean, it was I mean, the bit was phenomenal, right. You know, we look at the market data, it's just crazy that that it works. So, you know, look, I think all of us, you know, should get into the habit if any of us here are active on social to try and, you know, capture some of these like super landmark milestone moments.
And, you know, to do it in a way that is clear doesn't look and maybe we'll put some of this stuff in the style guide. You know, I think the general principles I like to use when I talk about the project is, you know, here's what's happening, here's why it's important, here's where we're going. And, you know, potentially here are some of the benefits that are possible.
So, you know, trying to not make it like Chile or, you know, been to the moon, call your representative at the Lamborghini dealership and let them know you'll be there soon. You know, the idea is, is to be very like almost like lean intellectual and make it entertaining. So that's kind of the process that I use. And judging from everything that I see on Twitter and and and also just in general, I mean, shout out to all you guys, right?
Like being Twitter is definitely becoming a thing, which, you know, I think if we keep that going and the Twitter space is part of that, this can really snowball into something, you know, very big as time goes on.
Yeah, certainly. What I also I just noticed we're at 600 member 606. We just crossed 1500 a little bit ago. So we're.
Discord. So that's pretty good. You know, I think we are starting to kind of turn that corner. And part of that, I think, is being Twitter.
Um, the one thing I hope is we may and B and Merchant did a little give.
Away that was I'm sure that all of you saw that was pretty I had fun with it if that gets.
Out, you know in the style guide that seems a little too chilly. Happy to drop that sort of thing.
But I have a pretty cool.
Idea for the next one and I already bought the I bought a big bag of kidney beans. I'm going to put them in a jar.
And then I was going to take a picture of.
The jar and I was going to say, all right, guess.
Guess how many beans? And if you guess.
Then you win that many beans. So it can be kind of a fun giveaway.
If I do it, I.
Definitely want to tie it to like someone's informative thread and make it seem less silly. But I'm open to that.
Getting shot down dumpling. I have to shoot that down really quickly because if you do that, it's going to be too easily reproducible. And so people will be able to just cheat.
Well, I mean.
Like you got the picture, you got the sizes of the cup, like you're giving everybody information the all the information they need to know to recreate the same thing. And then it's just a simple arbitrage between the, you know, the prize and the cost of a bag of kidney beans.
Well well, either way, whatever. And to me, what activation.
Yeah. For prove your deal.
Don't be surprised if I win then.
Okay guys if people are going to the grocery store to win beans, that is incredibly bullish think yeah I think that's fine that it can be gamed that way.
But dumpling I think that the if it's.
Just beans with different sizes they were kidney beans.
Goya kidney beans just that's total alpha leak total alpha leak.
It's it sounds like a great activation dumping to do it again. And I think adding a brand guy does that as well or like adding guidelines around future activations and timelines of that atmosphere that you.
Regarding the whole marketing push and kind of the also the push away from the, I guess more Schilling threads and kind of more intellectual. I'm, I'm in the process of kind of writing a paper on kind of all of the benefits of being. And I think I'm pushing to have that out before Christmas. So I think I hope that will be a helpful kind of piece of information so that it kind of levels up every what everyone is saying.
And we can put on a better front and kind of like sound really smart I guess, when we start showing all of this stuff. But I just want to say let me make that known and the timeline before Christmas so that we can just start getting this out as soon as possible.
And if we could.
Carve that up until like a gig thread, Evan and I were talking, we could turn that into like a 3030 tweet long thread, and then we could well sort of promote maybe.
We could make it. We can make it a lot shorter, like, you know, five of five tweet thread that starts with like being is a 500% API stablecoin for example, which sounds not too bad.
Yeah. A lot of things we could, we could do with that. Yeah.
Yeah. But yeah, the whole general idea about just being able to put out more high quality content, I want to be able to help and kind of unify us in our knowledge base so that when we are going out and talking, we're kind of like all on the same page and we have all of the answers to questions that come up from people, because I'm sure there's going to be very repetitive questions and we'll be able to, you know, just basically win it out in the intellectual space.
And two fronts actually that I wanted to push. So anyone that would might want to jump on and help out with these. I started piecing them together. Just don't have a ton of time to do it. But one is like a really straightforward tutorial. I think a lot of us are very comfortable with getting into the space and by, you know, getting each wherever we get our E from putting onto metamask.
But something that really walks through anyone who's never, ever been involved with crypto and defi. So I started working through it on my end. Just takes a little bit more time than I was expecting, but some easy walkthrough guide. I know that we as has a how to guide on the site, but really just making it incredibly easy to add your information here.
This is the next screen etc.. So just to help on board brand new people into Defi and crypto will be fantastic. And then another piece that I was thinking about which I think was written by somebody with the name Beans, which is great if you speak Japanese. They wrote it in a really funny way. Anyway, they were promoting that they were going to actually be investing for friends and family into pods for this year, for the holidays.
And so I started drafting some generic content around that, but that's another good push that we have. Again, these are just some things that are part of what I'm trying to piece together for, like a much larger calendar. So both dumpling, you know, that activation that you just mentioned, I've got added to the list. Now, Evan, what you just mentioned in terms of a bigger thread would be fantastic as well, just because we're obviously working on all these bits and pieces.
But if anyone's interested in kind of helping spec out a really simple onboarding just in screenshots and stuff like that of like this is step one, this is step two, and all of a sudden you get parts that would be fantastic and the other would be kind of copy around how we want to like share, give the gift of pods, so to speak.
That idea and I could hit you with a DM for this. This is Eero, by the way.
You're lucky. Great. Yeah. Why don't you do something? You guys.
Something you guys could do is.
You could have, like, a gift card that's like, you've.
Been gifted. So it's such and such amount of pods, like and have it, you know, I'm talking about. Yeah. Okay. Amazing.
Yeah. You know, if you want to shoot me a message and then we can connect probably to tomorrow over the weekend or would be fantastic.
Yeah, it sounds good. That reminds me of those OMI cards. That was one of the things that helped them spread adoption and then they could put it as their cover photo where they were like, You cut out.
You got interest in those cards. I was just saying the gift of pods reminds me of the only cards which people could use as our cover photos.
And I think that was really like excellent marketing for them.
Some of the homies were saying that.
Their like adoption really took off after they did that push.
I remember that. Yeah, I remember that. And they were all over Twitter and that did seem like that was kind of the elbow of like the curve for them. So that that was big. I did that kind of stupid meme with Christmas vacation, with the in the gym in the month club. It was the they gave me.
And and that one did pretty well and people seemed to like that one. So yeah, I think the gift the pods.
Give, the gift of.
Pods, that can be a really cool thing.
Yeah. And then I was also just trying to.
Because I mean, the nets are around the corner, so now it's not just that. I mean, we can all support the NFT side. So again, I just need some time to spell it out. But cool. I think we've got some great ideas in terms of activations for the next two or three weeks.
Then also like your idea of taking someone from sort of like ground zero like doesn't even have a metamask yet.
Because we've had so.
Many people reach out to us and say, like, beans is the first project, like my first Defi project, it's the first I had to download Metamask in order to, you know, to so being sort of buy beans and put them in the silo, it's like, wow, why would we need.
Yeah, why would you say that is like what's the.
What's why I'm so confused.
I feel it's like a friendly I don't know is it.
Is it the beans themselves?
Like they're just beans, they're cool.
I mean then yeah, these are.
I mean, you can't deny that.
I bet someone.
In here, someone in this chat, as anyone in this chat was, it was beans. Their first touch point to defi and if so, speak up.
So it was actually mine being billionaire here. The main reason being honestly just the whitepaper like the actual economics behind it were really fascinating and exciting to me, having watched on the sidelines a lot of crypto, a lot of defi stuff, but for whatever reason, the combination of the beans grabbing my attention with kind of the hilarity of the name and then reading the white paper and saying like, oh, this is like this is the real deal.
This is like actually really exciting. And how did you come.
Across the white paper or the website or anything like just Twitter or did you come across.
It? Somebody on Twitter tweeted that they were going to get rich from beans. And I was interested enough to to like search for like what is beans? And I found the website. Yeah. And the white paper where.
Well would you say that it was like a Schiller or kind of like a person you follow for alpha type.
Definitely not Schilling. And I think like someone else mentioned that earlier in this call, which is like this like intellectual or just kind of like subtle hinting because nobody I mean, people don't really respond that well to Schilling. It's kind of an obvious ploy, but really just like an honest, like, true tweet about like beans being like interesting or exciting or whatever it is.
I think the tricky.
Part here is like one Man's Schilling is another man's alpha. Like, I totally agree that some stuff is just definitely showing like, you know, one.
GM, you know, like that's definitely showing. But like talking about a project and like you said, kind of hinting that you're going to become rich off of it. Like that could definitely be considered showing from some. But, you know, it's tricky. So I think we have to tread that line but always be providing reasons like actually talking about being and actually why it's different and cool and like, oh, like my approach to to quote unquote showing.
But I don't know, yeah, this is part of that whole brand like guideline talk.
I suppose ultimately like Beanstalk really does like speak for itself, the protocol and just like the system of incentives and the entire purpose around creating a stable client, like that's ultimately what's really going to get people long term invested and excited in the project.
So being billionaire, if I had to describe your experience.
I guess I would call it.
Like intellectual signaling. Basically, where like someone you looked up to or respected their opinion enough where there's not like full of crap all the time, you know, said something about being and that gave you the suggestion to kind of look at it yourself because like they, like you said, they didn't even.
Website. It was literally just like I'm getting rich off of beans. And you drew the connection from there.
Yeah, I think that's right. And that may be a unique experience to me. You know, I can only speak for myself, but absolutely. That's that's how I found it and why I got involved. Yeah. If there's anyone then.
On the design side that wants to run with.
Me in terms of just again picking a really barebones and, you know, introduce your grandmother to this thing.
Get it through.
Medium and we'll run with it and then yeah, figure out.
Ways that we can finish that and use it broader.
In a more broader context. Joe or Liam and I are working on the cookbook and I sent a message in the bone.
Marrow chat before, but I think that's.
A really good thing to include in the book, having like.
Zero two page.
Guide in addition to just the.
Standard walk through.
That, one of the places that we can kind of put that kind of guide, that's great. You know, if you want to connect with Simon Cheese on that, it'd be wonderful. You want them. I also think maybe not necessarily right now.
But one of the things that could be really good, you should have to go along with that zero two parts guide would be having like a being.
Specific about kind of like how they created their own like.
App where you could use just that specific app to.
Send and receive.
And bio. You have something similar that's specifically for been to kind of slimmed down the process to people actually getting involved with Beanstalk. I'm I'm familiar with that specific app I always use there you know Olympus you know the website.
Can you describe that a little bit more.
About a recent thing is that I may have bought in earlier than that. Was it. Yeah.
I don't think I don't think they have it out in production yet. I know the recent hackathon that they were doing.
The winner was the app where it.
Like an app where you could.
Send and receive, oh, I think like through text.
And you could buy it just in app instead of having to like download Metamask.
You know, load everything through there.
But it was sort of like a.
An app to just make it where you could download the app and hurry up and just get home straight from the app without having, you know, any other outside steps. Was it a fiat onramp like.
I would have to look into more detail. I would assume you need a Fiat on ramp.
But I had I think I had it bookmarked on Twitter so I could send it in the chat once I find it.
Okay. Oh, that'll be interesting. B I don't.
Think it's I don't think it's been completed.
But like they had the, it was the hackathon project that won. So I think they're still working on getting it out into production right now, but it was just the idea to seem like something that would be good to consider. Austin Did you have something to say?
It was a mobile app. We've Oh.
It sounds cool. It sounds like kind of a heavy lift right now, but I don't know. I'm not really. Someone else could speak better to that than I could GDP. I know you were involved with a do you know anything about this?
That must be something new, because I was only on the policy side. So anything devs that was if it.
Like didn't or.
Wasn't about to come out then we wouldn't know. So it's probably something that's about to come out. Well, yeah, that's something that they probably just started.
Working on later. First things that we did at home was work on the UI and work on bonds.
Um, is there like a name of the app? I kind of want that.
One download and take a look. Yeah. My friend my friend created his name is ah Sean. I can send his Twitter in the group chat or things you know. Yeah.
All right. So the floor is still open for anyone, you know, other ideas, other things on people's mind or.
Yeah, sounds good. So definitely there's been a bit of work focusing on structure continuing. So with this, we've been working on sort of the budget for Q1 as well as continuing to have conversations with new players. So I've been talking with people about integrating a bancor at you know, conversations are continuing with avalanche major sort of blocker. There is I mean combination of engineering support as well as they're going to require the audits to get completed before they would integrate.
Bancor is still evaluating some of the risks associated with the protocol and is looking to get on call with Publius in order to help understand some of those risks. Beyond that, there's been a number of other people in the community who have reached out looking to help participate in this process. So I've been doing a few interviews this past week just sort of, you know, evaluating, you know, people that are committed to the project and then also understanding where people can sort of add value, whether it's spawned the like introduction side or whether it's on like account management.
So yeah, there's been that's been most of the work. And then also just continuing to do introductions of engineers and working on some of the structural docs on the notion.
No worries. Also, I guess one thing I'd sort of throw out there is, especially as we look to get the grants program, I mean, first proposed, but I think with that, I'd like to sort of seed and you guys as heads the you know, we're looking to try and have a grants.
And for you guys to think about you know, what are some potential projects that you guys would be interested in leading yourselves and receiving funding to help make happen. So this could be anything from marketing initiatives to, you know, a new defi primitive that integrates with Beanstalk or, you know, simply working on maybe a new UI, what have you.
So yeah, definitely, you know, feel free to bring me if you guys have any ideas or questions.
About the grants programs, the way you were describing it, it sounds like it is kind of like an incubator. And so is there also like I believe there's like a beanstalk farms and then like with the grants. Another thing and I guess like so would the structure look like the grants program is kind of like an incubator startup type thing where these are like kind of good potential ideas, you bet them out, blah, blah, blah.
And then if you want to move forward and do things more, longer term, then it goes to the Beanstalk Farms to make it more, longer term.
I think it's sort of a different way to think about it would be more so looking to incubate various projects which, you know, we're sort of considering as sub dose. And so again, like in this world where sometimes working groups, what have you are operating as fully cross-functional products of, you know, a team of like minded individuals looking to establish a key goal that advances the protocol.
I would say Beanstalk or Bean Sprout, sort of the incubator. Their role is to allocate funding and help coordinate resources as well as give operational support to make all of these different projects a reality. You know as well as sort of evaluating each of the projects to ensure that, you know, we're we're using our resources wisely, sort of underneath that, I think the most extensive sub dao would be bean stock farms.
And so Beanstalk Farms will operate as a bit of this like human capital acquisition and development project led by Publius. And so with that they will, you know, hire an on board core team members. This can be everything from community managers.
Blockchain engineers and everything in between. And from there they would then, you know, determine, you know, how to best grow that team, manage that team, what projects to sort of, you know, assign those term contributors to. And so then especially other sub does that get funded by bean sprout can potentially borrow some of these resources from beanstalk forms on so you know say there's a really good team that you know competent engineers but they need someone who's like a good product designer or someone to help out with partnerships, you know, then we may end up lending somebody from beanstalk forms to help out on one of these other subtasks.
I'm still going to have to kind of wrap my head around the whole thing. It's, it's, it's it seems like a lot of, a lot of structure, but I'm, I know, you know, I hear other being sprout but I might need a little bit of I'll probably have to read Austin's notes on it and kind of kind of wrap my head around the whole structure.
But dumpling, if it.
Maybe this analogy might help, it's basically do you know Y Combinator?
Okay. Well, it's basically that except for Daos.
Yeah. And I'd say sort of like like bean sprout is.
More of the.
Like asset allocation layer for beanstalk farms and so especially more so on funding and then sort of underneath that is then we as a bean sprout at first, yeah, bean sprouts, asset allocator and then bean stock farms is the like talent allocation layer. And then from there all other projects related to the development of beanstalk farms would be considered sub doughs.
And they can, I mean, they can obviously, you know, work independent of both of these vehicles. You know, we would never turn around somebody who wants to contribute to the project, but if they're looking to get funding from the community or get like human capital from the community, then they would have to apply to Bean Sprout and or Beanstalk Farms.
Think George, in this.
Is bean sprout kind of like alphabet. And then something like being bean stock would be Google like Bean. You said that bean sprout is the asset allocator. So I would say it's like on the yeah, yeah.
In a sense.
Okay. Yeah, a bit.
Of like a messy.
A better analogy, although I hate to make this analogy is that bean sprouts is almost more like meadow and then bean stock farms would be like Facebook. And so the reason I like that went a little bit better than Alphabet is more so because, you know, in the very Zuckerberg manner, it's all sort of advancing the one central good.
So you see how they really try and develop synergies between the projects. Alphabet I feel like, you know, likes to go off on their own way and all of the different projects, you know, sometimes very much not related. And so, you know, with this, the goal isn't necessarily to just fund and build various potentially valuable projects, but more so to really develop a cohesive ecosystem that is Beanstalk protocol.
Got it. So a quick can we run.
Through like a specific example of, you know, how things work now versus how things will work under Beanstalk Sprout ecosystem. So like if we had, I'm just trying to think of like a very small project that right now we would be operating through, you know, through voting, you know, snapshot voting, for example. Yeah. How would that operate? Like we're going to do?
I'm thinking of like my, my little merch project, right, was 2000 beans. So like if that, if that happened in, you know, post bean beanstalk sprout, how would can you bring us to like how that would work with what the different stakeholders and decision makers would be under this new system.
Yeah. Yeah. No, I mean, that's a, that's a perfect example. So pretty much in this, the community would vote once to provide funding to bean sprout. And so that would be this, you know, quarterly budget from there, you know, say, you know, you put forward a proposal, you want to, you know, get a small amount of funding in order to make this thing happen.
Bean Sprout would evaluate the proposal and then they would be able to issue the funding via multisig. And depending on the size of the grant request, there may need to be more levels of community engagement. But the really big procedural thing here is more so not requiring a snapshot vote for every single proposal because that's very inefficient and especially, you know, as quorum, you know, increases with supply, puts more constraints on, you know, really getting out there and trying to drive, you know, the community to go vote, which potentially could become harder and harder and is, you know, just this strain on the community.
Yeah, that's one of concern I had for for sure is the quorum.
You know, some people just buying and not not being that engaged, not voting. Someone comes and buys a million, you know, puts $1,000,000 in the silo but doesn't check it for a few months. You know, they're not going to vote. That's not then we're not going to reach quorum for these little dinky votes. So I definitely see the reason want to not to jump in but who is it a different is it just the stockholders who are the voting who are the voting members of Beanstalk Sprout or is it just another layer with the same stakeholders or is it.
Being sprout itself would also be a sub though. And so part of this potential proposal that will go forward will include the process for determining who are the members of that sub dough. And so right now we're considering a four of seven multisig, you know, will definitely be sort of evaluating community feedback throughout this process. And, you know, is that the right number?
Should we have more people? Should we have less people? Should the voting amount be more or less as well as, you know, who should those people be on? So pretty much then, you know, you would only need, you know, if the community agrees that, you know, we should fund the merge idea, you know, using the four of seven you only need four people in the community to actually or well for specific people to go inside the transaction.
But you do have a bit of that protection by using the multi circle.
Okay. So for the funds release, you only need the four of seven. But what about for the the decision as a whole? Is that a snapshot voter? Is that how does that ultimately it seems like.
Because that's a community vote. So so the multisig.
Is the vote.
So the Multisig committee votes and then also distribute the funds.
But I guess and not to have I'm sorry to just these are just questions that are popping up in my mind. But so we have a this is sort of a representative government within a DAO. It's kind of the idea.
Yes, I guess so. This goes back a little bit to sort of this idea of using like fractals for subdivisions where, you know, it's like doing a lot of the token sort of token economics and economic design of the protocol. You know, there's really only a few people who, you know, should really be owning that. You know, there's a few people who should probably own, you know, NFT or merch or marketing or development of front end, etc..
And so this pretty much makes an organization that is like evaluating where to invest those assets and then putting certain constraints on it. So that way they can run wild.
Okay. So I'm.
Well presented. I'll let all that other people jump in. I just wanted to get an overview of it. So yeah, yeah, I was I mean, I.
Guess, I guess I'm a little confused because it's not like the conversation is more to create like one budget that at some point is going to be managing operations. Now I might jump don't and have an operational preventative but it sounds like the way that you're operated or entirely differently there is no structure.
Only these multisig that are making all of the decisions that they're up on the budget. Is that right.
Through to just to try them, you know, for a minute, the there's a separate question of the funding and where the funding comes from and the structure of that to have been sprout is the accelerator reason to separate that from being staff forms. Even if you sprout bonds, beanstalk forms sort of automatically every quarter is the beanstalk forms is really hopefully going to transition to being more of a full stack labor pool to be plug and play or different projects that are funded by being sprout.
And the question of which projects to fund alternate will still be determined by snapshot votes. I think that the best way to do it going forward is to have like a pure quorum, where maybe we can define a curve on depending on the amount of capital being allocated that determines the quorum. So whereas like this budget can be approved with 50% stock, so minor allocations within the budget depending of really size should be approved with at most a 33% quorum, which is what is the status of current a budget.
And I think in order to improve efficiency, one third of a really tiered quorum was dramatically scaled down to the point where something like dumplings or dumplings, 2000 over 2000 being allocation for move to if that needs 1% of stock. Right. Look, why not just have that approved by the council and remove some of the inefficiency there? Put general things that are able to 10,000 beans or 20,000 beans, you know, maybe they need a 10% quorum.
But at the same time, it's it's really tedious. It slows down the process. And this is where the rubber meets the road. On doing things in a decentralized fashion versus a centralized fashion. And the goal is to have bean sprouts, decentralized funding mechanism. What are the numbers of the sale increase to approve funding for two different projects that are run by independent players or people?
And then separately, Beanstalk Farms is also funded by bean sprouts of facilitating grease the wheels on all the projects. And I guess just just I'm sorry, but I do have to hop, but I want everyone to continue the conversation. But we have another caller to hop on. So don't want to be late for that, but I just wanted to chime in before for alcohol.
So take care of everyone. And this is fabulous.
Appreciate that. Bruce, let you jump in because my concern we might both have is, is that I think what we don't want to do is sort of like neutered the Dow into just basically a yes or no vote, a huge budget. And then that huge budget gets pieced out by a smaller sub community that gets all of the decision making power really, you know, I feel like there must be a balance here because I totally agree with what have said about, you know, we can't be bogged down by these, you know, very small decisions.
But also, I feel like there is a risk of, you know, there is a risk of sort of giving a lot of control over most of the control over to a small subcommittee. And then we really lose the ethos of the Dow. Yes, that jaydev is that kind of what you were getting at or.
Yeah that was the start of it. But it's also like, you know, we're we're all this whole month is meant to be and we prepare ourselves for when we start to.
Really ramp up.
And the idea behind that is the planning and structure. And anyone who's had to work through budgeting knows it's a nightmare. And you don't we don't want we don't want to be doing this kind of picking projects here. And they're like, I guess my thinking had been like the Q1 budget was going to be a little bit more siloed.
It didn't have to be like walled off when it would be clear, like we would be spending, you know, aiming to spend, you know, anywhere budget between like 30 to 60% on Deb support, you know, in like 10 to 20% on operations.
Or something like that.
Because if it ends up being kind of piecemeal projects, then it just seems we're constantly going through a re budgeting process. And to your point just now, we would be having to figure out kind of these decisions were kind of rests on the shoulders. It just seems like varying parties as opposed to like a clearer direction and a clearer strategy with the.
Goal of where.
So I guess to chime in there, firstly, the way that the program will be structured will include a lot of input from the Dow. I would say the only world in which I think based on its current structure like the Dow would have no input is like if the budget proposal is like under the care in which it's like it makes much more sense for the sake of efficiency to let those very small projects move quickly than it does to, you know, make people get engaged on a boat from there, I would say that the programs also based upon the grants programs for Uniswap compound, all the divide, access and a number of others.
And again, they typically all utilize this structure of like varying inputs based on the the level of the actual amount of funding. And so in this, like I wouldn't view this as like making it entirely centralized on one small committee, but more so as a novel way of scaling up the speed at which different proposals can happen also.
Additionally, having a grants committee as the one central party that's pretty much like responsible for driving this growth also enables people in the community to know who to turn to when they have ideas or want to get feedback on their idea. It has a team that then is pretty much responsible for helping bring those ideas to market. And then, you know, again, it's like if the community doesn't like the job that he is doing, you know, they can replace them via votes.
And so I do think, you know, once you actually see the proposal, I think the community will be pretty happy with, you know, all the great work that we've been putting into it.
I I've also just real quick, I just kind of wanted to add, you know, we're all farmers here and I feel like we've sort of been getting out our digital pitchforks here. And I don't mean for it to be that way. I just kind of wanted to before, you know, I just wanted to kind of voice some concerns that jumped in my mind before I'd really seen the proposal.
So I just.
I think it's.
We will certainly take a look at it with Sober Minds and we'll continue this conversation. But I just wanted to I'd like, you know, the fact that anything above 10,000 beans would be, yeah, I'm going to whoever was chiming in can chime in. I just wanted to say about.
Yeah, just, just real quick, we'd love to take a look at the proposal. Thanks for putting that together. I think in general, my sense here is that we would want to lean away from sort of prematurely adding multiple layers of structure to the Dow and focus at least for the next couple of months or so on, just Shipping features, effectively improving the community really quickly, and that may even sort of lead us towards having something like a budget where we're probably is making those small decisions that you described, like the two or 3000 bean type type project decisions.
And so I'm personally open to like looking more at that and happy to chat as well, George, about sort of the specifics of what you're you're putting together.
Sounds good. Anyways, I need to run now in a couple of minutes, but if there's any other questions or thoughts now, I can probably one or two more. Okay.
Yeah, I think we all just have to probably look at the proposal. Yeah. You know, when it comes out and but thanks for going through that with the storage was a great that's kind of what these meetings are for and definitely want to keep doing these each week. That also.
Floor's open. We'll probably keep this going.
A little bit longer, but you know, don't keep this too much longer than an hour. I'm happy to chat with whoever for. However long.
But yeah, I've got one more thing follow up on. I think in general, it would be great for all of us to think about how we can keep these down meetings as tactical as possible. I know that there's some work being done in motion right now to try to better structure things, and I think there's a projects page that's being put together, but I think it'd be really helpful to to think of this as a as a time for us to rally around, you know, sort of weekly deliverables and action items and really everything is as tactical as possible.
I know there's a lot of stuff going on simultaneously, so I just want to make sure that those things kind of all get get done. And I think both of the cracks, I think like everybody here are super excited to kind of jump into a lot of the new projects. But my worry is that will kind of fan things out too quickly and not actually not actually push the ball forward overall.
So just sort of a meta comment. I don't have an answer for for exactly what that looks like yet. But dumpling, maybe you and I can spend some time this week just kind of jamming on that.
Yeah, happy to. I think that I would kind of like to have too. I mean, you know.
For this is more meetings, but I do kind of feel like it is because I want to have some open format where it's not just, you know, the it's not just five people talking in a room of 30. I kind of want to have it, you know, because there's a lot of people with horrible stuff to say who might want to be sort of taking a step up in the door, but they might not they might get edged out if it is more of a procedural like action item efficient conversation.
You know, I kind of want to leave a little bit of space for people, but I can also have those chats. You know, we could have a weekly town meeting that's more of an action type of thing. And then we can also have like, I just want to I want to have a format where people can have a little bit more, you know, where the small guy gets a chance, you know, I'm saying, yeah, of course, me talking the whole time or you know, that's the kind of like the top six people who like are involved in the projects, you know, dominating the floor.
So it's a balance. I agree with you. I also think that maybe a almost like a like a stand up would be good. So it's definitely open to that. Look forward to chatting with you. And yeah, I appreciate what you had to say earlier too.
Yeah, I totally agree with that. I think there's a fine balance here between keeping things tactical and doing some sort of stand up and also leaving the floor for everybody to contribute. So definitely want to balance both of those. But yeah, we can talk more about it. And also for for those of you here who've worked on this type of problem before or have done like sort of the project management style, things like this definitely chime in if you have any suggestions on on how we can all do a better job here.
For what it's worth, I think a stand up.
Is a great idea.
A separate call just to talk to specifically about projects and deliverables and progress and then have an.
Open forum, something else.
So the waters don't get too muddy between them.
And you also just kind of delineate between what the audiences.
Are for the two of your calls because they will be different.
Yeah. Yeah, I agree with that. 100 people is like eventually we get to like 200 people for the weekly meeting, which is just kind of like an open barnyard kind of thing. And then we can have a more dedicated stand up. I think that's a good idea. Jada Yeah, no, I agree. I don't, but I think that's a great idea.
That's more practical and one that's.
But yeah, I think, you know, mean I'll look back with you over the years and stuff and thank you everyone.
I've got to drop off as well. But this is really good to hear all the updates. Okay. Yeah, I think.
This is probably a logical.
Time to end the meeting, so yeah. Thanks everyone. In case you're trying to get ahold of me tomorrow, I'm traveling towards the end of the day, but I'm around all weekend and certainly throughout next week. Let's set those meetings. Let's, let's get stuff moving forward. Yeah. I mean, my thoughts on anyone thank stumbling.
Or thinks everyone thinks something.