• Recordings
• Notes
• Marketing
• Bean Sprout
• Dev Team
• Beanstalk DEX
• Copy
• UI
• Transcript

Recordings

Notes

Marketing

• Circulated a press release, which was picked up by outlets such as Cointelegraph and Decrypt. Did interviews published by The Block and Blockworks.
• Podcast with Mark Jeffrey yesterday
• Another Bean Pod episode coming out next week.
• We will focus more on getting content out, starting with articles and educational content.

Bean Sprout

• Almost done a review of the Halborn retainer. Came out to be 40,000 Beans. Exciting to have them take exposure.
• Teams have been approaching Bean Sprout wanting to get involved in building.
• Interested in having a mobile app or wallet for Beanstalk users.
• Root has been making progress on the Fertilizer market. The best place for it would be within the Beanstalk UI, similar to the Pod market.

Dev Team

• Publius wanted to thank devs who have been working tirelessly since the exploit to get Beanstalk ready for the replant.

Beanstalk DEX

• There have been many talks about the best way to implement this from a security, gas efficiency, permissionless perspective.
• We’ve settled on a very good design. Maybe the cheapest DEX ever from a gas perspective.
• Would not possible to achieve the gas savings by forking existing DEX code, since removing trading fees would have to be done at the base layer to see the savings.
• The diamond standard allows for an incredibly efficient architecture.
• Hope is to have permissionless pool deployment at launch.

Copy

• There are open discussions for BIPs 22 and 23 and BOP-1.
• BIPs 22 and 23 are for funding Beanstalk Farms and Bean Sprout respectively for the remainder of Q3. The voting has started for them.
• BOP-1 is to ratify a set of disclosures for risks of interacting with Beanstalk.
• There will be an upcoming proposal to retroactively compensate Beanstalk Farms contributors for their work since the exploit.
• Been working on how-to guides for interacting with the new front end.

UI

• Shipped the initial version of the new site. Been pushing some bug fixes.
• We’ll continue updating the site, particularly analytics as we get more subgraph data in and processed. Things like the charts for liquidity and deposits should be ready in the next couple days.
• Halborn will be starting the website audit beginning on Monday. We will be working with them to make sure the website and tooling are safe and secure.
• Trading page is up next.

Transcript

okay I think I think we can start um contributors feel free to the common stage um if you'd like to I don't believe uh Publius will be joining us today but we're happy to take any questions or any um any questions basically I can I can start off a kick off this meeting by talking a little bit about marketing so um in the past week uh uh you know on pause and repent what we did is that we had a press release that we circulated uh to you know our media contact and that was picked up uh by artists such as current Telegraph and decrypt and then we did interviews and those were also published by the black and black works we did have one interview which you know we think was one of the ones that we would have hope to be out but I think the news from tornado cash kind of like shifted let's say the priorities so a bit a bit bummed out on that but we still hope to to get to get on that publication otherwise we have that podcast with Mark Jeffrey yesterday that is out we had a spaces on another podcast scheduled for tomorrow but given the business schedule we're going to postpone those uh to next week uh with the bean pod we have an episode that we recorded with X talk and tomorrow and that will also come out next week moving forward uh what's what's our plan uh with marketing we will want to focus uh more on on getting content out so you know different different kind of content starting with thought articles and and the idea behind those is to discuss you know topics that are currently being discussed and Define genital such as you know decentralization monetary policy uh on on-chain and things like that then we'll want educational content to onboard you know let's say new new people onto Vin stock so what does Beanstalk how does it work what what do all of these things mean lastly is content for reach so these may be things that you know don't don't create anything new or don't say anything new but the idea of it is to reach out to more people who can you know hear about being stuck and be it and be aware of it when it comes to the thought articles this is you know our own efforts so it will be our our ideas or our thinking the others would require a bit of a budget and hopefully once we test the budget and then you know marketing will have a little bit of leeway to create more content from there we'll we'll see some some of that churning out that's it for my side from bean sprout from bean sprout um so starting with the halborn retainer we're almost uh done review of the retainer uh just a couple small things uh that took some back and forth but we think it's almost ready to go and hopefully we'll be signed uh at some point this weekend uh the final number came out to 40 000 beans which halborn is willing to accept as part of our agreement um so you know it's my expectation probably that we might seek uh bean sprout to help fund the bean portion anecdotally uh this is this is quite nice I think it helps align um you know halborn which is a key vendor of Beanstalk Farms um with with the actual currency of our protocol and that's always healthy and you know um this this is something that you know they plan to hold and you know increase the position in um and hopefully over the coming quarters you know they can increase the uh the bean exposure um that that's in our that's in our agreement so that's that's quite exciting um from from a building perspective uh there has been um a handful of really talented Builders and teams that have have been approaching uh being Sprout uh wanting to get involved in building uh and that's really exciting because ultimately you know as I've expressed uh many times I think that you know if we are looking to build a serious protocol here that is competitive and and you know achieves kind of the growth goals that we all independently have the ecosystem is is at the key in in facilitating that and so um you know there there's been a lot of interest in in you know recently in a wallet um slash mobile app uh catered for uh Beanstalk and Beanstalk users um which which I think is fantastic and you know one of the key uh you know limitations right now that I see is frankly just onboarding capital for for regular for regular users and and Growing the Farm and so uh you know this is something that I think other Protocols are also starting to realize you know if you take a look at Uni swap Labs it looks like uni swap is also looking to uh develop their own wallet uh an app and you know I think over time uh this uh this experience is going to be something that any serious D5 protocol uh has integrated in its stack and has an offering uh to introduce new users into ecosystem um so you know want to jump the gun here and and get going on that versus waiting and and making it back for uh and not a priority so uh that that's exciting to me and and I think uh you know has and has a potential to have a Major Impact um on the growth of our protocol uh from from Roots from from a root perspective you know we've been made significant progress on the order book um and you know there's a lot of things coming together for kind of this MVP to watch the fertilizer Market uh there's been some questions uh pointed towards me around the fertilizer Market uh right now it seems like the best uh place to to to put the market is within the Beanstalk UI it'll be the most convenient solution for Farmers uh similar to the Pod market and and allow you know people to easily trade without having to you know click between different tabs and different websites um and I think that makes a lot of sense uh so you know that's something that we're working on and hopefully we can get out you know sooner than later on the prediction markets uh that is also something that we're making uh great progress on you know we've we've recently added uh a couple people that um you know are are are in what I regard as as incredibly talented builders that can help you know get these prediction markets out sooner than later um so you know also working on uh uh building out the prediction markets in tandem versus you know prioritizing one or the other you know I'm trying to push the push the ball forward here are multiple front so yeah those are those are kind of my main updates thank you manifold um I might ask a few questions and to everyone else feel free to drop your questions on the town hall chat or comment stage um when do you think manifold we will have uh hellborn on on retainer again do we have it yet there that we're targeting yes in the start date uh as it stands right now and the contract is August 15th assuming that we signed the agreement and disburse the payment uh which I see no reason not to um so August 15th would be the start date and with regards to the wallet that you're discussing this is an on-chain wallet uh what's special about the water how can it be like used differently yeah so look a lot of open questions here but I think the general thought is you know there's there's a mobile app that you know uh makes it quite easy to onboard Capital whether it's from a bank account or from a credit card uh into the beanstock ecosystem um and and be able to allow users to you know send and receive beans or do other activities in Fairly cheap hopefully free Manner and there's some accounting layering that facilitates this got it that's that's pretty interesting I'm pretty excited to see how that develops I've always thought about you know what if we have some sort of a card that tells you in a way that you know you pay through signage or use your senior Rich uh uh to spend on um but interested in seeing how this what it develops yeah absolutely likewise and you know uh it's it's early but you know I think it's worthwhile getting started on for sure all right uh Publius do you want to give us maybe a quick of an update um maybe one of the most Pleasant questions that we're having is the Beanstalk decks and when when can we expect the UNIF uh pool yes totally um you know first off just want to shout out you know the whole deaf team at Beanstalk um you know all the way from when you know the the exploit first occurred up until replant you know uh you know they've all been working incredibly hard to make sure that you know we were able to you know restart this thing in the cleanest most secure and you know efficient way possible um and you know these guys were you know working tirelessly for the past few weeks um you know trying to get everything ready across the entire stack for you guys um and just you know want to take a moment to appreciate them all um so you know first off on the sub graph you know we have Cujo and eth wallet who have been you know absolute monsters you know pushing code down to the wire you know doing replant you know there were some indexing failures and you know they were there to re-index get this thing up and running and ensure that you know we'd be able to have some graphs uh once we restart it um you know on the bot side you know funder broker has done an incredible job you know just seeing when uh you know the BCM initially added that liquidity and seeing that you know message come through the exchange channel was absolutely incredible and to you know just be able to work your way around the the complexity of the bean stock contract is incredibly impressive and you know for uh you know us to be able to have access to these Bots at launch was you know a whole lot of fun for all of us and you know very important when it comes to keeping Farmers informed on the state of Beanstalk um you know on the on the UI side uh you know cool beans um you know was an absolute monster making sure that you know we got everything done and you know of course Silo chat just putting in work non-stop there were days where you know I would wake up to messages from this dude at like you know three four a.m and then you know send them a morning GM at 9am the next morning and he'd already be up um so you know there are no words that can be said for you know how much Silo Chad has you know redefined the definition of what it means to be a chat so thank you for that um you know also on the the the the the the water treatment plan when it came to you know um when it came to validating on chain data and you know recomputing the the state of Beanstalk off chain uh you know each wallet and tea Beck were a huge help there um and then you know shout out to zero G's for helping out design the new Bean token um you know overall an incredible job and you know couldn't be more proud of the Beanstalk Dev team and you know really looking forward to working with you guys going forward and uh you know truly pushing forward the frontiers of uh you know what we can do with decentralized technology and the evm itself um you know kind of uh I guess moving forward off that you know uh you know a lot of conversation around the Beanstalk decks what is it when is it coming what is this beneath pool and uh you know we've had a couple of internal you know meetings with the dev team to really uh you know boil this down and determine when it comes to a decks as it relates to Beanstalk what is the most efficient way to implement this you know from uh from a security gas efficiency permissionless perspective um and kind of I think at this point we've we've set settled on a very good design you know I truly do you know don't want to talk too much about it before we get you know more of this written up in code but really think we'll be able to you know create you know maybe the the cheapest decks ever from a gas perspective um you know the amount of gas we can save just from removing fees from liquidity pools uh and leveraging the diamond standard as well as just making some simple gas efficiencies uh you know that other protocols have not taken um we can create a truly competitive decks all around uh you know super excited for the design we have so far um and you know just I guess just to talk a little bit about why we're going with Custom Pools um you know there's obviously the the alternative which is forking existing exchanges whether that be univ 2 uh curve balancer Etc um you know we did some digging into those pools and it it seems that you know the the task of you know removing the fee altogether is one that you know really needs to be done uh you know all the way at the base level to truly get the the gas savings we would want on that front um and then secondly it's pretty clear that we want to Leverage The Diamond standard for this decks and by doing so will truly you know be able to create an incredibly efficient um you know kind of uh architecture here and you know no one has yet to kind of you know try to tackle creating a decks through the diamond standard um and that's something we're really looking to do um you know here at Beanstalk whenever we release code we want it to be you know the the best version of that code that's ever existed and uh you know that comes from a design perspective uh you know a implementation perspective and most importantly gas efficiency none of us like L1 gaspy's and you know we really want to do everything we can to bring the cost down as much as possible given we want to set the feed to zero you know any fee on trading beans is a significant tax on the peg maintenance model and we you know want to make that as Vision as possible um so you know really excited for what's to come on that front um on that knowledge you know the initial beneath pool will likely be launched on the Beanstalk decks itself um you know we could go with a simple unit swap V2 pool in the in the you know interim but you know a lot of that unit swap code has already been written out um the unit swap pool is incredibly you know the unit spot V2 pool is gas inefficient from a uh you know liquidity perspective um I don't know if any of you guys remember the cost of convert operations in that pool but they were quite significant um you know given how we want to you know optimize around making Beanstalk as cheap as possible uh you know we want to take advantage of all resources at our disposable to you know truly create the best pool they're at um so you know on the curved side uh you know it's it's a little more complicated uh because you know they have a lot of fees you know they have the fee that goes the curve token holders they have the fee that goes to curve LP holders and uh you know really digging into the contract it's clear that you know that fee structure is really boiled into the into the root of the math they use and it's quite expensive just Computing those fees alone so it's you know very clear that we just want to start from the ground up create the most minimalistic pool get rid of the fees and it's going to be awesome on a timing side you know we we're working internally on finalizing kind of the interface for the you know the the pool facet and you know the hope is to have permissionless pool deployment you know the ability to update pools uh you know and then basic swap ad liquidity you know in gas efficient manners um at launch and kind of the thought is you know uh you know it'll take you know some amount of time to get that up and running you know don't want to put any dates on things yet but you know uh there's already a lot of the work you know a lot of the work has already kind of been done in designing this thing and at this point we just need to you know Implement and test it which you know of course is a very long thorough process but uh you know incredibly excited about uh this project thank you Publius for the detailed update pretty excited to see the decks in action it's one step further towards you know being stuck uh or maybe The Silo being the largest liquidity provider uh pretty excited to see to see that in action we have a few questions maybe you can take them quickly Alex asks who's going to build uh you know some of the stuff like the wallet manifold maybe you can answer that but briefly Alex bean sprout is an accelerator so it supports you know any anything or anyone who wants to build anything on top of on top of Beanstalk but manifold can maybe answer in specific about the wallet yeah I think that's right you know uh with bean sprout we want to be able to create vehicles and and recruit uh you know engineers and other talent to build on top of Beanstalk and and you know typically that that are you know right now that looks like the easiest path to do that is through private Vehicles just for a lot of reasons um you know it's just more streamlined it's easier to build with you know more centralized team um you know legality is clearer regulations clearer so you know there's just a lot of a lot of advantages right now of of private Vehicles building independently around uh Beanstalk but at the same time you know there there are many initiatives that Beanstalk Farms himself is taking on like the decks uh that probably has just mentioned so you know it's a combination of both depending on the project and needs um you know we just want to we just frankly want to make sure it gets done and whatever the easiest way to get it done and get it built you know that's that's what I think makes sense to pursue foreign asks um about the prediction Market development and is there a way that he can get involved definitely reach out to manifold and you can take it from there oh yeah you can just visit the Discord and ask any questions or feedback or whatever pizza man asks will the decks also have non-beam pairs so like you know rap b2c with with wrapped if and if yes what is the incentive to the lp there instead of something else the decks will allow permissionless deployment of pools that can consist of any tokens so yes you know if anyone wants to create a pool with you know token X and token y you'll be able to do that um but you know there'll be no incentive for adding liquidity to this pool um you know all pools you know can be you know submit a request to be whitelisted into The Silo but obviously that would require an on-chain Dow vote um so you know beyond Silo yield there's no incentive to add liquidity and just to clarify what what Publius said so the decks will be open for anyone but then it's only the white list of tokens that can enter enter the silo so just being on the decks doesn't mean that you you get senior age it is being in The Silo that does that uh Alex asks if there's a channel for beam Sprout or a Discord for beam Sprout we do have a Channel or we did we still have it I think I think that got three reorganized maybe we can we can look into that and answer the Alex onward where to direct questions about being spot yeah I can definitely add one and think that'll be very appropriate as as there start to be more more bean sprout proposals as well all right then also while you have you here do you want to give us updates from your end definitely thanks mod uh yeah hard to follow up those last couple updates exciting to see all the the various developments in the ecosystem but uh kind of in the light of uh publius's Shadow it's also want to give a shout out to uh allocera's Canadian Bennett and Ariel for all their work since the exploit on both uh the copy front from writing governance proposal helping me write governance proposals uh how-to guides Etc and also various uh Ops Works sorry excuse me Ops work like making sure uh the recording of these meetings and uploading onto to YouTube and Spotify et cetera goes goes seamlessly so thank you all for that let's see uh on the governance proposal front um you'll see under the Town Square section there's a couple open discussions for bips 22 23 and uh bot one so on the bips 20 22 and 23 front uh those are both for funding Beanstalk farms and bean sprout respectively for the remainder of Q3 so call it you know the remaining uh six or seven weeks or or however many so those are live on Snapshot and if they don't hit super majority of the voting period would end uh on Tuesday next week and thanks to the stock haircut at replant that the Quorum is about 25 million or so so I would encourage everyone to uh check those out on Snapshot and interact with them there uh with regards to Bop one which is the first Beanstalk operations proposal uh the concept there is that because the Beanstalk Dow is the governing body of Beanstalk decides how it's designed uh the implications of that design etc etc the idea is for the being stocked out to ratify a set of disclosures for the risks of interacting with Beanstalk very much in the ethos of uh you know what Beanstalk Farms has written previously that Beanstalk is an experiment in many ways so that has not been proposed on Snapshot yet and would encourage everyone to discuss in the channel and ask questions there um so folks might notice that in bit uh it'll it also proposes to retroactively compensate Mr manifold for their contributions uh since the exploit so similarly similarly there will be an upcoming proposal to retroactively compensate Beanstalk Farms contributors for their work as since the exploit also in right beans so we've been running that process internally I've been collecting everyone's drop proposals we'll discuss internally for a couple days and hopefully we'll have something to this to share with the Dow on that front uh in the next few days uh or early next week uh otherwise on the the content or documentation front uh I've been working with uh Canadian Bennett and alloceros on various sets of how-to guides for interacting with the new Beanstalk front end so I'll uh just drop a link here we published a few of them but we'll hold up on announcing till we've uh been able to publish the rest of them but the whole concept there is you know although folks should feel welcome to come to the Discord and ask questions to uh figure out how to interact with the Beanstalk UI to the extent possible you know hopefully we can uh answer those questions from from within the UI itself or in documentation so uh you know feel free to drop any feedback on that in in the docs feedback Channel I believe that's uh that's it on my end thank you Austin um Chad we've seen a lot of updates uh on on the UI Channel and expect some more as well can can you take us through your ideas or or work ahead certainly yeah uh definitely a lot of updates over the past week as we've you know shipped the initial product and then continued updating a couple things that needed some polishing and fixing bugs um as always if you have thoughts or feedback or run into any issues please reach out in the UI feedback channel uh in terms of what's next so we'll continue updating a couple sections of the site particularly around analytics over the next couple of days as we we get some more subgraph data in and have that data properly processed so things like the the chart for liquidity on the forecast page the chart of your deposits over time that shows them a silo those should be you should be ready in the next couple of days um beyond that so a couple things looking forward first and foremost uh halborn starts at website audit we're getting on Monday so we're planning to to work with them to make sure that the website is safe and secure and that the stack of you know tools that we use to to run the site are secure so I'll be working with them next week uh from there you know I think we're at a position right now where we're beginning to plan for for what's next on the front end so looking at you know the combination of what the the decks means um potentially integrating the fertilizer Market into the front end those sorts of tasks uh and then I think maybe the other notable thing would be that the the trade page uh is on the docket and the next major thing that we'll be shipping so you'll be able to trade on curve uh initially through through that trade page going from Beans to Ether or whatever else um and then upon launch of the decks you'll also be able to trade on the Beanstalk decks through that that page so happy to answer any questions about those um and wanted to say thanks to everybody who's provided feedback and helped us identify bugs and such on the website it's been a massive help on our end thank you Chad and for those who want the summary on the updates that is the UI update Channel and I think if you like scroll to August 6th it's like a three-page update list all right I think uh we we are at the end of our updates um if anyone has a question or anyone wants to come up on CH to ask further questions please [Music] my bad okay you're good you're good no worries I'll be quick I'll be quick yeah take your time briefly it's it's been awesome and rewarding to see everyone getting to use new Core i core UI uh so you know thanks for feedback everyone please keep sending it uh just so you know there's a standing offer from me to transfer you some some deposited beans if you're open to having a longer conversation about usability uh uh so this is particular you know for people who are new to Beanstalk post replant would love to to kind of get your feedback uh so you know I think one thing the community might be interested on hearing about is the bug Bounty program that we're kind of launching right now so we're developing a relationship with immunify we like them they they seem to have good relationships with other protocols you know maker dial optimism Wormhole uh to name a few and uh we would only pay a performance fee on top of confirmed submitted bugs which uh indicates some kind of strong alignment there so uh we're finishing up some details and in conversation with their team uh right now the idea is that we would propose to Mint beads to a new multi-sig which would sit there only to be used for uh bug bodies and we'd pay the the bounty hunters in in the Native Bean token uh we'll keep everyone kind of in the loop about the bug Bounty program uh these details definitely are subject to change but uh really really exciting kind of progress on that front as far as you know usability and UI goes uh yeah we should have those guides added to the UI that Austin was talking about uh hopefully sometime this week and then uh started to kind of explore what the decks means for the UI how does that integrate uh you know how closely related are they and then uh yeah uh uh lastly uh uh yeah it started exploring dark mode which which should be a lot of fun it might be a lot of work and we'll see how quickly we can we can get that out by uh yeah that's kind of it from me uh oh and and and just a notice that uh you know if we were to Mint new beans to kind of fund this multi-sig for the bug bunny program I would we would have to propose a bit so uh yeah happy to take any questions uh particularly regarding the bug body program in the chat but otherwise uh yeah feel free to DM thank you sweetheart and and the immunified program is is one step forward the one extra step you know to to try and protect or um have security measures for being stuck uh and maybe one thing one one more thing to uh to mention is that we recently had the bug uh with the on on Earth unearned or uh beans uh distributed that affected a few wallets that will also require a bit to reimburse uh those you know those wallets so it will be something that we'll probably want to include uh in our proposal or a bit awesome I don't know if it can be included with other other ones but it will it would have to be proposed all right before ending uh this meeting maybe you can touch upon one one more thing that has been discussed recently or lately which is the conflict of interests amongst uh contributors and I wanted to just like you know go over again how governance and being supports and you know remind everyone that contributors have no sway or control or action uh towards what the protocol does everything that happens in the protocol passes through a bit and you know those those paths through stockholders what's so by default I guess you know maybe the attitude will want to be that everyone will want to always see and think of everything as a conflict and only has you know bips uh given that it it has or is for the overall uh Improvement of the protocol itself so there is no way in a way that you know whether someone has a conflict of interest or not that can impact the plot code itself because no one has control uh uh to a protocol in itself hop hop that makes sense and of course I can encourage the discussion to continue uh and we know we continue with the weather on Discord or in future meetings with that uh thank you everyone for joining and we'll see you in next and next uh posted the question we can answer that quickly and this is the first few minutes all right pizza man asks if there are concerns with the soil uh available that that's probably a question better answered in class but briefly uh uh to answer it and that has been also answered last week no no real concerns when it comes uh right now uh uh you know to soil or or the soil instruments and it would probably want to focus more on the portrait and the percentage you know of of that uh change with the overall protocol but maybe it's a more detailed answer it can be answered in in class all right otherwise thank you everyone for joining and we can we continue it on Discord or take it next week