🌱

DAO Weekly Meeting #33

Date
August 18, 2022
Timestamps

00:00 Marketing Updates • 01:18 Bean Sprout Updates • 03:40 Copy Updates • 07:43 Beanstalk & Root Relationship • 08:54 Design Updates • 10:27 UI Updates • 12:34 Development Updates • 14:56 Community Grant Program • 16:27 Comments from Publius • 18:39 Open Floor/Q&A

Type
DAO Meeting

Recording

Notes

Marketing

  • Bi-weekly Bean was pushed out this morning.
  • This week we had a Bean Pod with xToken, and tomorrow we are recording another episode with Fluidity.
  • Community Grant Program to be announced.
  • A few songs coming from Beanthoven and belabeantok.

Bean Sprout

  • Signed the six month Halborn retainer yesterday. The total cost is $240,000. That includes 2 months of three streams and 4 months of two streams. One stream will be a full re-audit of Beanstalk.
  • Root labs is going to cover $200,000. Bean Sprout will pay the remaining in Beans, and Halborn has indicated they will keep it as Beanstalk exposure.
  • The Seraph agreement is a bit trickier, so it is still pending. It will be $10,000 a month. Root Labs is open to covering that as well.

Copy

  • Spun up a handful of various how-to guides for interacting with the Beanstalk UI.
  • Expect a BIP this quarter to mint Beans for the bug bounty program.
  • Budget BIPs passed.
  • Hopefully have a governance page soon showing quorum and allowing you to vote from the Beanstalk UI.
  • Hiring proposals will start coming through, to be voted on by the BFC.
  • Drafts of BOP-1 and the Retroactive Payment Proposal have been posted.

Beanstalk & Root Relationship

  • Beanstalk is an open protocol, so there are no agreements or special relationships with any individuals or other protocols.
  • The audit agreements are between Halborn and Beanstalk Farms, Root is just helping with the payment.

Design

  • Governance page should be going live in the next few days.
  • Working on the DEX and how it will fit in with the core UI.
  • Planning on a dark mode.

UI

  • Launched the swap page. Allows you to swap on the Curve pools, as well as move tokens between the farm and circulating balances.
  • Looking forward to some front end and middleware deployments and hiring new contributors.

Development

  • Development on the Beanstalk DEX is going well. Trying to get the initial implementation done as soon as possible.
  • Hoping to get BIP-24 under audit on Monday when the Halborn retainer starts.
  • Pod Marketplace V2 will hopefully be able to get to audit sometime early next month.

Community Grant Program

  • Will be a blog post coming out explaining the program.
  • Any content that helps spread education and awareness of Beanstalk is eligible, as long as it’s not shilly. Blog posts, Twitter threads, videos, etc.

Publius Comments

  • The goal over time is to have more and more private companies that are trying to operate profitable businesses on top of Beanstalk. Many of those businesses will want to contribute to Beanstalk in various ways. So in the case of Root, in order to accomplish what they want, they are going to have to propose BIPs and those BIPs will need to be audited. Root paying for the Halborn retainer is an example of how their goals are aligned with Beanstalk’s.

Transcript

all right thank you all for joining maybe I can kick off this meeting with a bit of some marketing updates so we had the bi-weekly being was pushed out this morning um this week we had a bean pod with X token and tomorrow we're recording another episode with fluidity um when it comes to the videos or the educational content we've started working uh on that initially I can share a sample of what we expect the videos or the content to be or to look like let me see if I can copy that foreign chat this is the let's say the style or the direction that we're we're going to be taking with the with the future uh videos then we have a community ground that will be announced today as well uh we have a liquidity spaces uh tomorrow that will also push out or announce today and then lastly there are a few uh music or or songs from the intervene and Bella Bean talk uh that that they recorded or not but I didn't have the the time to like put them into videos so hopefully we'll put those out and then and then push them out that's it from from my side Mr manifold do you want to take us maybe through a bit of bean sprout yeah so uh just working on it now actually um we signed the six-month album retainer yesterday um so you know could we were able to to kind of wrap up the the terms that uh we that were still pending um the total uh six month retainer is 240 000 uh and that represents uh six months two months in which you know we can utilize three streams which is very exciting uh meaning that there's three separate you know uh projects or or or or or code pushes that halborn can uh audit simultaneously and then two streams for four months um you know we have a lot of uh you know new new updates and upgrades to be in stock that you know are incoming and you know we want to get some certain things re-audited and the UI Etc so uh we thought three streams was appropriate for the first uh two months um so 200 000 US dollars of that Labs is going to cover uh there's gonna be a forty thousand uh beans portion of the agreement that uh bean sprout is going to propose uh to cover and halborn has verbally expressed Mutual alignment and that you know they they intend to uh keep that being exposure on their balance sheet um and you know I think that's healthy um it kind of represents this you know shared skin in the game and uh you know shared success uh so you know that's very exciting that you know they they are they are open to uh taking on a portion of this retainer uh with with being exposure uh the Seraph agreement is a separate agreement that is still pending um that one's a little bit trickier but hopefully in the near future we we have that wrapped up and just for reference that's ten thousand dollars a month in US Dollars and root Labs is also uh open to covering that uh assuming that we can get the uh the terms nailed out thank you manifold for the update and to everyone who's in the audience feel free to drop any questions as follow-ups if you um if you have so in the town hall chat Austin um updates from your end and maybe take us through the the current um proposal that's in discussion and you know yeah definitely thanks mud uh and yeah we'll we'll cover the the couple of uh proposal drafts that have been shared as well um I guess just first to start on the documentation front uh we spun up a handful of various how-to guides for interacting with the Beanstalk UI and we've dropped an update in the in the docs updates channel so hopefully this is also linked to from the UI so there's a little little tool tip on The Silo field and barn pages to to link to how-to guides and there's various stuff in there for example there were a lot of people asking questions about how do I transfer beans out of my farm balance uh after the unpause which we now have a guide on and things like that so I would encourage everyone to check that out and uh link folks to it whenever people come to the Discord and ask questions um otherwise uh I guess on the bug Bounty front I think sweetbread sweet red beans talked about this last week and uh he did all the heavily heavy lifting up to this point but I was planning on managing that process moving forward and just to repeat a little bit of what red beans mentioned last week um the idea is that we would pay out any any bug bounties for valid bug reports in beans and so I would expect a bip this quarter if not uh hopefully much sooner if everything goes well to meant some number of beans to to cover that and there will be more more information forthcoming on that front as far as the the structure of the bug Bounty program and things like that all right let's see so on the governance proposals perspective uh obviously uh if you're staying tuned in the Discord bip 22 and 23 past on Tuesday night which is very exciting those are the the budget bips for Beanstalk farms and bean sprout respectively for Q3 and there was a lot of commentary on you know voter turnout and uh voter apathy on that front the goal moving forward is uh you know it was very unclear what what Quorum actually was and so the idea is uh and and red beans and cool bean have been crushing in this front but hopefully we'll have a governance page very very soon that shows uh you know a lot live the number of stock that has voted for a given proposal how close it is to Quorum uh and things like that and you also you'll also be able to vote directly from from the Beanstalk UI which will be nice so I guess uh with regard to now having a budget I would expect uh you know the community can expect some hiring proposals to come through again just the BFC votes on those but they'll still be uh posted by the snapshot bot uh in the snapshots channel uh for folks to to see because the goal is for it to be transparent uh what else so there's a couple uh open drafts that have been shared um Bop one was shared about a week and a half ago uh would encourage folks to to read that that's a set of disclosures for the risks of interacting with Beanstalk and I know that's been out for a while but the idea is to hopefully propose that around the same time as the the retroactive payment proposal such that people can vote around the same time and then uh lastly on the retroactive payment proposal front um or BF RPP that draft has also been shared in the respective Channel and there's been a lot of good discussion there and I would encourage folks to give any feedback on on the process that we've been running there there have been a couple comments about changing the structure uh which I think you know anyone's totally open to would but would probably have to be ratified by the Dow so that probably warrants some some extra discussion and uh hope folks have a chance to to read all the individual proposals I think uh I think that's it for my end thank you Austin um we we have a question that we might take quickly before continuing uh which is uh and that's from excellent asking about the root or where can he read about the root beam relationship so just to be clear being such as an open protocol so there is no like agreements or special uh relationships with any any sorts of you know individual or or let's say uh other protocol but manifold feel free to like you know touch some a little bit more about this sure so you know the current agreements with halborn these are agreements uh with Beanstalk farms and halborn uh not with through in halborn uh root is just uh covering the payment um so kind of like every other audit being stock has done in its history omniscia unfortunately uh trailer bits and the the previous halborn one these are all agreements with Beanstalk Farms um you know root is just helping with the payment also answered or dropped in a comment uh excited if that if that's sufficient uh good or otherwise let us know okay sweet red beans you can you can share some of this from your hand yeah absolutely uh so like Austin mentioned uh have kind of been helping out the bug Bounty program hopefully that goes live soon uh and then on the design front yeah it's uh not too many updates this week I mean we built the governance page which should go live in the next few days so look out for that I should be pulling from the Snapchat API so shout out to uh to cool Bean for for his good work there um otherwise for the next two weeks or so it kind of heads down thinking about and designing uh all the kind of pieces of the decks and how they interact with with the core UI uh so we've got some kind of design debt to pay off uh in order to make sure that it slots in correctly and so uh yeah look look forward to to the decks uh and and some of the the ways that it will interact with the core UI so still thinking through that but that's that's probably the next two weeks or so uh we'll be heads down there so uh yeah that's it from me for for this week I've also heard somewhere you know on the Discord that there's going to be a a light mode or a dark mode for the UI yeah definitely uh definitely planning on doing that that's that's uh something I'm personally really excited about but just trying to make sure that we keep up with with all of the new features first so uh yes sounds good uh Chad can you take us through some of the updates I see there has been new new updates or changes already uh push start and on some plans as well yeah certainly so in the past week we launched the swap page um that's available if you head to the site uh under the more tab currently so uh the swap page enables you to swap on top of the curve pools that uh Power being stuck already as well as do a couple other actions like move tokens between farm and circulating balances so feel free to take a look at that uh send us some feedback and UI feedback or ask questions if you if you have them um next big thing is launching the governance page which cool Bean is working very hard on uh has been working very hard on the last couple days and we plan to go out sometime in the next couple of days uh maybe maybe uh pretty soon actually and then from there on my end really thinking forward about what the next couple of months looks like and how to coordinate some of the the bips that are moving forward along with front end and middleware deployments so spending some time on that and also looking at hiring new contributors to the Beanstalk Farms team so so if you're interested in writing some code with us or know somebody who is definitely reach out and yeah I mean happy to dig in more on that front as well but got a lot in the half of this fall so we're going to be we're gonna be pretty busy thank you and barthy asks if swap combinations are supported on the swap page now not sure if I fought it across from bharti yeah um so I listed some of the swap or all the swap combinations that are currently available on this post which I will link uh in the town hall chat but uh more or less we cover some of the common Bean swap use cases so for example beans and eth beans in different Stables beans and three curve and then also have some of those utility swaps like moving from uh wrapping and unwrapping East to to weath uh then moving tokens to farm and circulating balances clear all right uh Publius can you take us maybe through how is the development happening with the Beanstalk decks um you know on what on on on what we're working on in general yeah um you know uh development with the Beanstalk decks is going well um you know no real updates on that end you know just steaming along trying to get you know uh you know the the initial implementation done as quickly as possible um I believe we talked about bip 24 uh in class on Tuesday you know hoping to get that you know to you know uh to audit on Monday when the Hub one retainer starts um and then I believe we also mentioned the Pod Marketplace V2 um which you know will hopefully be able to get to audit you know sometime early next month um you know nothing else on my end oh that's great and one last thing um on the nft front I have an update uh which is you know they're working on the last I guess attributes on under hopping to get that out uh maybe sometime next week okay James asks what's the Pod Marketplace version 2. so previously on the Pod Marketplace if you create an order or a listing you can only specify a singular price um and pod Marketplace B2 when you create a pod order or listing you'll be able to specify a piecewise polynomial function so this will allow greater efficiency in the Pod marketplace where say I only you know have a thousand beans to spend on pods instead of saying you know I am only willing to buy Pods at this given price for this place in line you know now you'll be able to specify kind of a pricing curve across the whole pod line if you so desire okay another question on on when can we expect the decks and the beam if pool um hopefully sometime by the end of Q3 or early Q4 and so please let us know there are update an update on the timeline Barty asks about the community grant program so it will be and his question is um like What's the progress with it and who who is to like participate in it so there will be a blog post coming out today that will you know detail out what is the community grant program what are examples of you know content uh that uh that is eligible or could be eligible within the grant but generally speaking any content that helps spread education awareness about Beanstalk is eligible as long as it's not you know misleading it's not chilly in itself and it's genuine in in explaining what Beanstalk is and you know either by diving into some of its Concepts or generally raising awareness of unbean sockets so any any sort of content from that from any kind of person irrespective of what the content is and the type of it if it's a Twitter thread if it's a blog post if it's a YouTube video if it's a music video all of all of these things are are applicable and and the blog post will will have an FAQ and kind of like detailed out what what can we expect that that would be part of the grant okay Excel I'm just coming through I'm not sure there's a question or that that's just a comment I think it's just a comment all right publish any any closing comments um before when this meeting yeah so I see a little in the town hall chat about the funding of the Audits and the relationship between root and bean sprout and Beanstalk farms and Beanstalk and halborn and there's a couple things to be said here one is that in general the goal over time is to have more and more private companies that are trying to operate profitable businesses on top of Beanstalk and it's highly likely that a lot of those businesses that are building on top of Beanstalk want to contribute to and benefit Beanstalk directly in some various different ways so in the case of root in order to implement a lot of the prediction markets and other things that they want to implement they're going to have to propose bibs to Beanstalk and those bips are going to need to be audited and so in practice the concept of having root pay for a six-month retainer from halborn is highly aligned with the long-term goal of beanstock which is making sure that there are lots of different Auditors looking at the new code so root wants to develop things as part of Beanstalk and on top of Beanstalk and it's highly aligned that there's they're willing to fund a significant portion of the audit so uh and I recognize your common egg salad that you're curious as to how it's all working and I think to that extent uh continue to ask questions and anyone that has any knowledge I think will continue to try to answer as as transparently as possible and you know this is an experiment when it comes to decentralized governance and uh in the past we have had to ask uh in order to even disclose the rates that have been negotiated in order for each of the audits separate from the sharing of the documents themselves so uh the goal is to always be as transparent as possible but uh to some extent you know can't can't share all of the contracts for example but other than that uh as always I think everyone involved is happy to share as much as as much as possible foreign we have a few questions that we can questions that we can go through quickly um will The Bean Is the pool will be delivered with the decks yes and it's expected to be called a well um Can can the team then James asks if the team can touch upon the eth merge and if that would have an impact no impact that we can foresee what Publius feel free to touch more of that and we expect being stuck to to be on the proof of stake um upgrade um is the decks on the side integration going to be audited the expectation is to have halborn to re-audit uh being sucked from scratch and and expect it to also yes uh order the decks uh but also feel free to add them uh more yeah maybe maybe just to clarify so the structure of the halborn retainer is that as manifold was saying there are three simultaneous streams for the first two months and then down to two streams but we can always uh up it again up to three streams if necessary and so the concept is that one of the streams is going to be a full re-audit of the Beanstalk contracts uh we hope we have an initial meeting with them in the next couple of days uh in order to figure out what all the streams will be but we think it'll be one stream for a full reorder of the contract one stream for a full audit of the UI with the goal being that upon completion of the UI audit will be a lot closer to open sourcing the UI which is very important and then there's going to be lots of different upgrades and dips specifically that can be audited one off so as privilege was saying uh by Monday the hope is to have the Beanstalk decks ready to go uh for audit uh there's also dip 24 which is also ready to go for audit uh pod Marketplace V2 is hopefully going to be ready for audit uh by September one so there's going to be lots of different uh things for halborn to start to audit and uh to some extent the the only delay may be uh the only delay may be uh how quickly how about 10 product stuff okay I think we're at the end of the Town Hall questions maybe we can give it a minute or two I see a few Farmers typing James asks if we have a timeline on how long will the audits take and what are the priorities timeline unclear I think we'll we'll probably get more guidance from them as the as things get underway uh but not at the moment bharti asks if every bip is going to just just to clarify I've got Publius in my DMs very upset because he said vip24 was on Monday not the decks so hopefully bib24 will be ready for halborn on Monday not the deck so don't mean to jump the gun there apologies Publius Marty asks um if every bit is going to be audited before it gets committed or proposed well it's hard to say in practice what will be the case because anyone can propose a bib but our hope is that the the our hope is for bips to continue to be audited in advance of proposal or to start to be audited in advance of proposal exotic asks what is the primary messaging or opportunity to encourage inbound capital in the next three months I can answer that on the top level and then um probably feel free to also add them in there domain messaging again will be through educating what Beanstalk is so Beanstalk is is working uh how is it working and and what why why does it why is it existing why is it why is it dead so what what are the problems that Beanstalk is solving so highlight the problem and then highlight how being solving it and how is it working or why why does it work so what what is the value of it exactly on purpose you can you can add them if you'd like to as well Tyler B asks any plans for future use of beans as collateral for crypto loans so maybe you can take a loan against your beans well there's a lot of different ways to implement loans on top of being stock but I think mod is probably the one driving the bus on the Beanstalk CDP so feel free to comment yeah so we we have a few ideas or thoughts on on how can uh beans like a self-issue loans um so you can you can take on loans uh or or take Bean uh Bean loans and and we think uh or expect that to also have an additional help with uh with big maintenance with regards to using beans as collateral uh for other other uh loans so let's say you know maybe uh I think someone was talking about like why wouldn't make it for example collateralize their die with with beans uh or why can't I take another lawn wet beans that may be uh something that that that that may work uh but it will probably have to come with more adoption of being and has been becomes like you know let's say like a gold standard uh that will enable more and more uh um maybe others to use it as some sort of collateral but right now there is no like sort of um work or initiative in trying to get other protocols to accept being as as lateral or no active work on it as far as I know excellent asks if Publius thinks of writing some you know think peace or editorials um do you want to answer that previous yeah I mean so on the one hand everyone has started to harass us to start to write editorials or think pieces or whatever you want to call it uh and there's some value in putting pen to paper uh but I were hesitant to start to just like pontificate about a bunch of stuff uh you know it's a fine line between making statements about things that you feel highly confident about and have thought about a lot and at some point you run into the trouble of now you're now you're just writing to write and I think if we have things to say we will definitely we will say them but also not not in such a rush so have been I think now that the white paper V2 is sort of done uh there is a little bit more time to be writing more substantive material and you know perhaps something will will come but we're not going to rush it and we're not gonna just create content just to create content we're more focused on putting out content that we think the historical record will look kindly upon agreed with that and look forward to such content foreign questions see Barty typing but maybe a commenter and that's a thank you all right thank you thank you everyone for joining uh this week's doll meeting uh today will be as I said earlier we'll we'll announce the community grant program and then there's also a spaces with liquidy uh and and we'll push both of them or announce both of them later on today otherwise thank you for joining and see you next week's Ada meeting thank you Iman