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DAO Weekly Meeting #39

Date
September 29, 2022
Timestamps
00:00 Intro • 00:25 Bean Sprout Updates • 06:27 Operations Updates • 11:41 Silo Chad Updates • 13:35 sweetredbeans Updates • 15:52 Publius Thoughts • 20:41 Chainalysis Update
Type
DAO Meeting

Recordings

Notes

  • Bean Sprout update
    • BIP-24 is live for voting here
    • FDBDV (Fungible Deposited BDV) is almost ready for audit
    • Continuing with the idea of business using Beanstalk
      • Trying to get businesses and real world assets exposure to the Beanstalk ecosystem
      • Lots of really cool ideas circulating
    • New budget BIP, BIP-27 is live for voting here
      • 100,000 Beans to grow the Beanstalk ecosystem
      • Goals for Q4
        • Launch another Beanstalk business
        • Recruiting the best talent possible to build on Beanstalk
        • Fiat on-ramps
    • Root Updates
      • Started working on the Seaport fork faucet added to Beanstalk
    • Big picture, Bean Sprout is looking to grow Beanstalk
      • Halborn is a great example of Bean Sprout making payments in Beans that are then held in the Silo (beginning of the BDV economy)
  • Operations update
    • Current BIPs
      • Beanstalk Farms Q4 budget (BIP-25 is live for voting here)
      • At Beanstalk Farms’ current burn rate, it would be surprising to use more than 700-800k Beans
        • Beanstalk is in a really strong position, and if there is an instance where Beanstalk grows and there is an opportunity to hire more high quality contributors, we do not want to play defense.
      • BFCP-C-1 live for voting here
        • Goal for the quarterly term extension proposals is to hold everyone on the BFC accountable and to receive feedback from the DAO on their output over the last quarter
        • Original BFC proposal had terms ending in Q1 2023, if these proposals pass the terms will end in Q3 2023
      • Bug Bounty BIP is live (BIP-26 live for voting here)
        • Highly encourage reading the BIP in full, there is a lot of detail about what the BIC and Immunefi have discretion over
  • Marketing Updates
  • Silo Chad Update
    • There is a really good overview of what everyone is doing here
    • Wrapping up the Pod Market history page
      • This has been an interesting challenge because of how the Pod Market place works and the upgrades to it coming up
    • Bean-Sama has been hard at work with random bug fixes and final wrap up stuff from the initial launch of the site
    • Updating the theme of the website to a fall version that should be updated very soon
    • Numerous other projects going on, those are listed here
  • sweetredbeans update
    • Has been spending a bunch of time on the new Balances page
      • The refactor is finished
      • There will be a lot more features
        • Farmers will get a lot more of an overall view of their position in Beanstalk
        • You will be able to see your debt assets, Seeds, Stalk etc
        • You will also be able to call some basic functions like Harvest and Mow
    • Fall theme should be out very soon
    • Building a design system for chaining transactions together like Harvest and Deposit
  • Publius thoughts
    • Thinks that there is a shared sentiment that it would be best to move Beanstalk in a position to perform minimal upgrades via governance at the base layer
      • Needs to start working on this now but will take time
      • On the liquidity pool side we need generalized oracles solution that Beanstalk can rely on
      • Working on removing the Convert Whitelist all together
    • There has been a lot of debate and discourse about the budgets
      • This is all healthy
      • We are all trying to figure out decentralized development and it is best to have accountability in a decentralized forum
  • Chainalysis update
    • Funds are apparently still in Toronto cash, and they will keep watching the stolen funds

Transcript

okay I think we're good to go and once again everyone will barnyard so you know anyway I can talk would appreciate if everyone is muted I see that you all are except uh but uh that's fine I can reach you if you'd like to uh to to China all right let's kick off this this meeting as usual with beans a budget proposal that mentions um thing that maybe you can throw it yeah totally I'm happy to uh thanks mod um so you know just kind of kicking off here uh dip 24 uh is live uh for voting so uh make sure you kind of get out and vote uh however you see fit um the FDB um which is you know generated a lot of of discourse in recent days and weeks um is just about ready for audit uh so that's that's exciting uh we also have a uh Special Report we're working on as a potential first use case um for for this new contract uh which will hopefully be public soon and and we're pretty excited about and we think the community um also will be um you know continuing work on uh the incubation of this Beanstalk for business concept um as as one potential approach um to getting businesses and real world assets um exposure and and further involved within the beat sock ecosystem which which we're also excited about um and there's a lot of cool ideas spinning there um and so right now there's kind of a focus on kind of nailing down what the MVP will look like um what the tech stock for the MVP will need to be um and and kind of the the various rules um you know that will need to be brought on board uh to hopefully make this a a success launch um and then you know as mod mentioned there's a new budget bip uh that'll be live for voting um and I'm happy to go through that let me just pull it up uh give me one second here cool um so you know the the request is to Mint a hundred thousand beans um for you know effectively you know continuing to grow the the Beanstalk ecosystem um you know the first kind of bullet here on the key deliverables as uh as as I've kind of outlined them is is launching you know another Beanstalk based company which is this you know being stuck for business concept um that I mentioned uh just earlier um and you know that's going to kind of entail like this thorough customer Discovery process um you know we're gonna need to bring on banking partners and cost City Partners um you know Envision this you know kind of being a type of concept where uh you know you might not have the most crypto native users um and we want to make sure you know uh that you know there's there's custody uh Solutions in store for for people that might our business owners that might not be super familiar with crypto um and make sure we build for that and then you know making sure we're recruiting the best talent um that is capable World executing what's really a big idea and a hyper competitive space um and so you know the team kind of has to be uh incredibly competent in my opinion for for this to really take off the way that we'd want it to um kind of next thing is we've been we've been having discussions with actually two different uh one approach us we approached another one with um you know just really Fiat on-ramps um into crypto um and and you know various various players that offer uh uh self-custody wallet and then you know banking Solutions with Partnerships like with banks like evolve for example um and so you know we think that there will be some type of finalization there in the next few weeks uh which is exciting um and you know just another way for consumers to access the beanstock ecosystem and you know do cool things with their beans which is you know uh what it's all about um in terms of root um you know I know we've gotten started to work on this Seaport Fork facet uh to be added to Beanstalk we haven't really spoke about it much too much uh as the focus has been on this fungible deposited Bean contract which is now uh like I said ready for audit but expect more to hear more about the C4 for facet in the coming weeks as well um so yeah I mean that's that's kind of the main you know pieces of the bip um you know I just want to make a general comment um there there there's there's you know a really over overall arching mandate um as I see it for being Sprout and that's the drive net demand to the Beanstalk ecosystem um and so you know in general where where we look very favorably on on grants and and spending that you know is is not net cell pressure or net you know uh you know exposure added beans um but rather estate and beans for you know incentive alignment purposes and you know I think halborn has been a great example of this with their smart contract Security Services making sure that they have skin in the game and I think that that's a model we want to pursue for all of our vendors and hopefully you know over time that exposure Trends to becoming closer and closer to 100 B uh and so you know I just wanted to mention that um as as just for clarity um you know oftentimes people come to bean sprout and they say hey we want 5 000 beans to go do X but that really entails selling 5 000 beans and you know there are obviously you know everything's kind of on a case-by-case basis but in general I think you know we would rather be issuing grants where the bean exposure is kind of uh you know held on some balance sheet or something like that for land exposure um so I know that's a lot animations thank you manifold uh for the update um everyone else if you have any comments feel free to unmute yourself and just like ask it uh I'm right away otherwise we can move to Beanstalk Farms Austin you just sent an announcement um highlighting the different bits that are currently live can we maybe start with you that you can take us through through the current bips that are out for voting and maybe the ones that will are expected to go live soon sure thing thanks Matt um so with regard to the handful of proposals that are live that uh Beanstalk Farms were opposed uh of course yesterday there was announcement that went out about the Beanstalk farms uh Q4 budget that went live yesterday as well as the uh quarterly BFC member term extension so maybe just to give some context uh on the latter in bfp 81 The Proposal that the Dow passed to form the BFC in its structure uh the idea behind these quarterly term renewals is to you know keep each of us on the BFC uh accountable and give the Dow the opportunity to give each of us feedback uh on our output over the previous quarter now of course this time it was just over the past six weeks but you know in the future it'll be for for all of Q4 so this was written in the proposal but our original BFC proposals uh had our term ending in q1 of next year and for the individual proposals that pass here uh the terms will be extended to to the end of Q3 so as mentioned the Q4 budget also went live um obviously there was a lot of great discussion on that over the last few days uh perhaps just to you know throw my hat into the ring a little bit uh and provide some commentary on that kind of the thinking around the amount is you know based on our current burn it'd be it'd be pretty surprising to spend more than 700 or 800k over the next quarter and of course accounting for the beans that roll over from Q3 will probably end up having uh you know like 1.2 million beans uh if if the budget bet passes and so the idea there is you know you know and from my perspective I think Beanstalk is in a really strong position and if there's an instance where Beanstalk grows and there's many more you know potential high-value contributors interesting and uh contributing to Beanstalk you know my position is uh I don't think it's necessarily time to to play defense but obviously others beg to differ and you know I think there's a lot of good good discussion there over the last couple days uh lastly on the Beanstalk Farms front uh you know also just announced that the bug Bounty program bip uh just went live so had talked about that a little bit over the last few down meetings and would encourage everyone to to read The Proposal unfold there's uh you know quite a few nooks and crannies in terms of you know what this uh new bug Bounty committee has a discussion over what amunify has discretion over in terms of uh you know uh baguani reports that are awarded and not so uh you know happy to hear any feedback on that front and answer any questions about any of those thank you Austin another said there has been a few discussions uh we've discussed in class so we've been conscious in the channels and this players as well to discuss it here of the dumps thank you all right um I can I can share some marketing updates for my Ants so this week we've had uh two uh media let's say uh appearances or we mentioned both the ones the New York Times and the other is block works I'm going to drop the links to those in the barnyard chat so this is the New York Times and this is the block quarks one we're practically excited that we've been in let's say uh our Communications with journals have been picking up a little uh we hope to continue with that momentum and to see more more of those uh let's say appearances out there um all right otherwise uh we've had the new submissions to the community Grant uh since last week uh again would encourage everyone to make use of the grant or if you uh don't but know someone who would uh then you know pass it pass it to them and you know have them have them make use uh use of it otherwise we're still working on the video content uh we're having a bit of a challenge with the video creation we had a commissioned someone to work on it we were happy with the demo but uh with another submission not so much so anyone who has as well done record you know video creators please send them send them through uh to my site of chat you can do this from your end certainly yeah uh let me know if I cut out on my internet's a little a little spotty right now but I'm gonna drop a link in the barnyard chat to a message I sent on Tuesday which has a pretty good synopsis of what's going on for everybody but to give sort of the high level here so we are wrapping up a number of projects one is the Pod Market history page um which has proven to be pretty a pretty interesting challenge given uh how the blood Market works and some of the upgrades that we're doing so having that wrapped up uh this week being Sama has been hard at work on a number of sort of bug fixes and and final wrap-up stuff from the initial launch of the site and so he's got a couple of those uh PR's staged and ready to go I think um one other thing we haven't talked much about uh but kind of fun thing that we'll be adding is is updating the the theme of the website as well so sweet red beans has had a fall theme commissioned which will be we'll be updating uh hopefully by the end of today but may end up being tomorrow and then beyond that I've outlined this uh sort of in this message but a number of other projects going on kind of across the board uh both on the contract side um and on the front end side so we we continue to you know make progress on things like the Pod market and other things but uh you know right now waiting for the audits to go through in the contract side and then just continuing to try to figure out uh you know what the right UI ux is for those sorts of things so happy to have to discuss any of those thank you Chad sweet tradins did you want to continue from there yeah uh so you know have been spending a bunch of time on this balances page uh have finished kind of the the refactor and so it's gonna be kind of interesting I think it's going to be we're introducing some new features it's kind of supposed to be more of a more useful kind of aggregate view of your position in Beanstalk so you should be able to kind of see you know your deposited balances your rewards uh you know the debt that you hold the stock and seeds that you have your farm balance and also take some quick actions like Harvest and rents kind of on the same page so uh kind of discussing where this fits into the hierarchy of the site uh you know the hypothesis hypothesis is that it should kind of be uh the first or second page um but yeah look out for for that Improvement coming coming soon and then uh kind of looking forward for the next week or so uh so like Chad mentioned hopefully getting that fall theme up and running uh one thing that you know we've kind of been putting off for a little while that I think needs to be thought about is uh building a design system for like chaining transactions so like Harvest and deposit rinse and deposit some of those things uh and then delineating maybe a little bit more strongly in the UI and having a stronger opinion on uh when the farm balance and when the circulating balance show uh so yeah going back and and basically coming up with Design Systems for those this week thank you um sweetheart all right um I wanted to just touch upon again us moving to the to the Barnyard uh Channel and that is that this down meeting is not is not for Beanstalk Farms or bean sprout it is we're being so farms and beans but come in and take the opportunity to talk to the to the down members however this is for the Dallas for the stockholders uh where you can discuss anything uh that you would like so even if you don't have questions to the contributors and you would just like to discuss things in general again this is this is your chance and an opportunity here including problems probably is do you have any anything in general in line that that you would like to share yeah I'm happy to talk a bit you know recently I think it's become you know increasing clear that there's a shared sentiment towards BB stock into a position whereas Authority minimal amount of upgrades or government's notes at all at the base there and you know think if that's something we want to be able to obtain in a matter of years we need to start working on it now um and so really you know trying to drill lessons the basics you know kind of maybe take the protocol modulize it into different components which are fully customizable and built on top of each other um so you don't have sort of you know you know uh allocating some effort towards you know within the generalized pipeline solution which you know it becomes at the base layer and up and you know uh you know it kind of makes no need to be any other pipelines um and that's kind of like from from a perspective of being stalking every needs to be operated you know creating Solutions such that we can you know basically allow you to call any smart contract through Beanstalk instead of having to vote to upgrade to add custom specific code for each protocol um you know gets us towards that Vision um you know on the on the liquidity pool side you know it becomes clear that we need you know some generalized Oracle solution where you know being stock is somehow aggregating oracles that are you know kind of sourced from a variety of different places you know first off one of them being Wells um you know and then kind of typing it back into being software necessary you know when you convert an asset against the peg you know you need to determine what the value of the other asset in the liquidity pool is in U.S dollars and so in order to you know remove the need for pool City whitelisted to convert you know we kind of need to have to generalize Oracle solution such that being some can price whatever asset happens to be in the pool against dollars and you know kind of really starting to work on building out that underlying infrastructure such that we can remove you know the convert whitelists entirely you know make uh Wells you know have permissionless you can pick any price in variant not this price in variants and you know use oracles that could be you know any contract you know at all and not just contracts other logic of this playlist in the fight so you know think uh you know really taking taking some time to dig into things and uh you know things might be taking longer than we all want them to but you know I think you know think it's important to it right the first time if you truly want to get Beanstalk towards you know a place where the base player is as close to finish as it can be thank you Publius and definitely excited I'm looking forward to having these pipelines and oticons uh built on and see them in action okay maybe to talk a little bit uh about things that are more in the short term there has been a lot of uh debate and discourse and discussion about uh the the budget bibs particularly the Beanstalk Farms budget although that might be to some extent because the bean sprout budget proposal was brought more recently and just wanna as we echoed in class want to reiterate that this discourse is all healthy uh not sure how many of the dissenting voices uh from the chats are here at the moment but want to really just emphasize what mod was saying that this is a an open Forum where anyone that has a descending voice should feel comfortable to to raise their descending opinions and everyone should should be able to in a in a civil fashion uh hear everyone out and try to engage so this is not a I think we're all trying to figure out the best way to do decentralized development and the best way to have accountability in a decentralized forum so uh this is this is the overall healthy people could probably be a little bit more constructive in certain instances but this is a good time if people have some opinions uh to voice them not to put anyone in particular on the spot I also have a small uh update uh to add or to share last week we said that chanalysis were meant to join us in this now meeting to present a proposal to track the swollen funds we had told them what Los Lassa told us is that there has not been any activity uh on on the funds itself and it seems like you know they maybe have looked into that and came back and said uh that you know they will continue to track it and if there has been any um any changes or movement in the fund then they will let us know so so far it seems that the funds are still in tornado cash and there hasn't been any you know any update or any movement uh towards it nevertheless still again encourage the Dao you know to to continue to think of you know other Solutions or options or whatever it is or any other means that they think the Darwin General would be productive for them to pursue on the starter funds but where we stand right now it seems that there is not much to share or to pursue with that let's give it a few minutes again or take some time as kublia said if you'd like to discuss maybe the budget or discuss anything else with regards to to be in stock feel free to do it now just unmute yourself and let's have this conversation some other thing maybe to be discussed this is a poker tournament sometime next month uh candidate and dumpling are working on it so also you know any thoughts preference experience from the last one feel free to also like discuss it now if you want to or bring it up now okay okay with that I think we can end this meeting let us know if you prefer this format we will continue to have it at the Barnyard chat unless or the channel unless uh um members feel otherwise thank you all for joining us and we'll next week