- Meeting Notes
- Bean Sprout Update
- Operations Update
- Engineering Update
- Pipeline and Depot
- Design Update
- Marketing Update
- Publius Update
- Publius' thoughts around the discourse in Discord
- Poker Tournament
Bean Sprout Update
- The Root token has launched! (https://roottoken.org/)
- You can mint the Root token from a handful of ERC-20 tokens and Bean Deposits
- Once you have Roots you can bet with them in the Paradox markets (https://betparadox.com/)
- This is an MVP UI, and the team is planning to make a more advanced UI in the future
- The Root’s governance is very similar to how Beanstalk’s governance
- You do not lose governance power when you mint Roots
- The Root multi-sig will vote 100% of whatever is passed within Root and it will just be one vote
- As Publius understands it Snapshot does not split voting right now
- With the Paradox Root markets, there is a bet-to-earning model where if you bet early, you receive a 1% fee from bets after your original bet
- The bugs associated with EBIP 4 and 5 were valid and the Imunifi committee is working on the bounty for those two reports
- EBIP 6 fixes both of these bugs
- Very busy week for the team
- The team has been sprinting to get all of the things needed to launch Root and Paradox launched. This includes a new version of the Subgraph and the Beanstalk SDK
- Besides that, the team is working on UI bugs and Pod Market
Pipeline and Depot
- This is a separate protocol that allows you to do multiple functions within the EVM in one transaction
- This is currently being used by Root and Paradox
- This will really help the Beanstalk ecosystem and the border Ethereum Network
- Pipeline allows you to call multiple contract functions between different contracts in one transaction. In traditional Ethereum transaction builders, this is not possible unless a Solidity developer writes specific code for it
- Depot loads Pipeline with certain types of assets. Currently, you can load Pipeline with ERC-20, ERC-1155, and Beanstalk Deposits
- This is an independent contract, and this will also be deployed as the Depot facet and will be proposed with the next BIP
- The Beanstalk SDK provides a wrapper around this technology to make it easier for developers to work with Pipeline and Depot
- Pipeline is meant to be a public good for Ethereum
- The UX for the Pod Market is done and is ready to start building
- Started working on a Figma UI kit, the goal is to make it easy to build/ work on Beanstalk design
- The team has been busy with the Root launch, hoping for more people to cover the launch
- A lot of interest from gambling sites
- The educational video is in the drafting stages
- The team has reached out to two newsletters, these deep dives would be paid but we would not influence by Beanstalk Farms
- For Publius, it has been a long couple of days/ weeks
- From Publius' perspective, it is really special to be a part of, they are unsure how they got so lucky to be around such hard-working individuals
- When asked about Beanstalk's exposure to the FTX crash, Publius said that Beanstalk has exposure to everyone and everything, but in practice, unless USDC, USDT, or DIA sees a large depeg it is unlikely Beanstalk will be affected
Publius' thoughts around the discourse in Discord
- The discourse around Beanstalk is one of the defining features of the Beanstalk’s community because of its high-quality debate
- Early members like Mr. Mochi have done a great job in setting the tone on how discourse should look in a decentralized way
- In the past few weeks, the discourse has been negative and it is a negative sum game when the discourse turns unsupportive
- A good amount of contributors have raised publicly that they are thinking about leaving Beanstalk Farms or Bean Sprout
- Publius has been focusing more on Class and the DAO meeting and less on the Discord chat because they do not want to affect people’s thoughts on certain topics
- It is okay to be wrong, but it is all about how you present your opinions
- Mod323 wants to make it clear that if a contributor is not doing something the way you want it to be done there are three appropriate ways to do it appropriately. Those three ways are, to step up and do it yourself, reach out to them and have a call, or bring it up in the DAO meeting
- Having the debate via text is not an appropriate way to have this as it takes time away from the contributor
- When referring to the “Team” who is the “Team” is it Publius, Sync, or everyone within Beanstalk Farms? Make sure it is clear who you are referring to
- There is no way for the DAO to tell Beanstalk Farms what to do. Currently, the DAO approves a budget for Beanstalk Farms, within the budget, it is very clear what Beanstalk Farms will do with those funds
- Publius' real point is what is the obligation for Beanstalk Farms to follow up with other entities that are not actively working on stuff
- Currently, there is no process for the DAO to mandate things that Beanstalk Farms has to do, this leaves a lot of things hanging. Publius things people should pick it up themselves and there are a lot of ways to get paid for working on Beanstalk
- Publius thinks there should be more defined processes and procedures around these types of things
- Beanstalk Farms or Bean Sprout should not be responsible for getting everything done around the Farm
- Just because something is presented to the DAO does not mean Beanstalk Farms or Bean Sprout is responsible for the follow-up
- EggSalad thinks we are all getting our heads around how a DAO properly works
- They also think someone within Operations should manage the community's ideas
- EggSalad thinks maybe it makes sense for Bean Sprout should be involved with this
- MisterManifold says hiring for Bean Sprout is very easy, but they are very proud that Bean Sprout has made positive EV for Beanstalk
- MisterManifold does not have the bandwidth to have these roles and does not want to hire someone that will create added sell pressure
- EggSalad thinks there is more we could be doing, and it is no fault of anyone, MisterManifold responds and thinks there is an infinite amount of work that could be done and we need to make trade-offs
- EggSalad thinks it should be paid contributors' main priority to recover stolen funds
- Publius does not understand why the contributors should be responsible for this and not DAO members, Publius does not think the funds are recoverable at this point but hopes they are wrong
- Publius wants everyone to have their own opinion that is unaffected by Publius
- Publius wants to mention that there is a ton of different ways to get funded to do something on your own
- Mod323 wants to shoutout the operations team, they do everything that the Beanstalk Farms team needs
- Publius intends to release a road map of where they would like to see Beanstalk go, but it is up to the contributors to decide what to work on. Publius will work on items on their road map
- The Poker tournament has been delayed till January 2023
GM, everyone. So today or yesterday, let's say it's a big day or it's kind of an innocent, you know, treatment. I haven't haven't had so much being pushed in the ecosystem, I guess, since then. We have a lot to go through, whether it's being sick farms or being stuck, let's say a bit. And then I'm disenchanted within the ecosystem.
And I think the biggest news often would be the launch of the root token. There's probably a lot to talk to talk about there. And then maybe, you know, we're the future of it takes us. Mr. Manafort, how are you doing? Ahmad, how are you, man? Do it. Doing good on this end. First of all, congratulations on the incredible launch of the new token.
Thank you. You know, there were there was a monumental effort by a lot of people to get this up and couldn't thank everyone involved enough. You know, a lot of a lot of new code UI work. PR, you know, Twitter, etc., you know, it's just kind of a massive coordination and there's just so many people involved. And I was just actually a very small part of it.
So I just wanted to say thank you to everyone. Definitely. And as you said, a lot on the road front has been announced yesterday. I'm just going to drop the token website on the banner chap and in there there are multiple things that can be done. You can check, you know, the dashboard on on on the road token itself and then there's a link to the white paper and then finally on how to use it, you know, to bet on the World Cup or, you know, just betting and giant manifold.
Do you want to maybe just quickly take us through what is launched and what can be used? Or how can you use the root token? And then what can you use it for sure? So you can mint the root token with a handful from from a handful of popular tokens or with the deposits. And you know, once you meant the root token, the first real partnership slash product we've announced from a utility perspective is these paradox ridden markets.
And I think the world Cup market just launched about an hour ago, which was a big milestone. You know, a lot of people were working really hard to achieve, you know, just a just a date in everyone's heads. And we're able to reach that with an MVP. So, you know, pretty excited about it. But, you know, as far as the root token site goes, you know, pretty simple.
You can get into root tokens and there are some issues on the UI with the claim and redeem yesterday, but those seem to have been patched up. So looking good and want to say that this is a and the app UI we plan to offer, you know, a more advanced version for more experienced Beanstalk users to really understand the analytics behind minting, claiming and redeeming.
And also the last kind of comment I wanted to make is on the governance. You know, we we frankly are not too different than how being stock is set up. It's it's pretty much the same. And, you know, we also aren't opposed to transferring ownership to the BCM, but just really don't want to be a burden. There's a lot that's going on.
We thought that this was probably a better setup and apparently readers get to vote on proposal with their routes and the multisig and actually roll the dice. Also you know, if you are ten mint in two routes, you do retain your voting power and bienstock you're just, you know, having that voting power enacted by the multiple. So you're not really giving up any governance rights.
But, you know, anything governance related always, always up for improving it. This is not a perfect solution. But, you know, just I would I would note that. Thank you. My phone. And I guess there are three things maybe that we can discuss briefly on. One of them is governance that you've touched upon. I wanted to go back a bit to minting under a token, just to summarize it and see if this is how it's done.
So now you can go to the website and then you can amend the token and the way that you can do that is, you know, as you said, using different ERC 20 tokens. But what happens is that whatever token that you use it eventually gets converted or swapped for beans, and then those beans are deposited in the silo and then transferred to the root contract.
So two times so far so good, is that correct? Yeah, that's how to get to me. Okay. And then when you when you return to total, when you swap it back to claim back, do you claim back beans or do you came back inside of deposit? You claim you claim the asylum deposit. But we're working on this. I don't know if this is like that you'll be able to you know, redeem into and a non sila deposit as well in one transaction.
Okay. All right. The second bit that I want to discuss is what can we do with whether we're talking but maybe before going that we touch upon a bit or continue the discussion on governance. So as it stands right now, when you have a role token, you can still vote on, you know, through root and then the root multisig will vote on your behalf to be in stock.
If there are, let's say, you know, 6% of token holders voted one way and then 40% voted in a different way. Does then root vote, you know, just one and 100% based on whatever passed or does it, you know, push or send 60% and 40% accordingly as well to to be installed votes? Does that make sense? Hey, Matt.
Sorry, I just lost connection for a second. The last thing I heard you say was 6040 split. Yes. So if it's a 6040 split, what route? The multi route multisig then would also vote 64 to split to the bit. Or was it just vote whatever passed within rule and then Ruth acts as one vote. Yeah. Yeah. That's going to have to be an update that that is done where, you know, that split can be enacted.
But right now it's, it's, it's the will of the doubt from a majority perspective. Okay. Thank you. Thank you for that unfoldment. And just to highlight right now, you know, whatever way the through it, let's say votes once in this way just has to happen. As far as we understand it, Snapshot doesn't support partial voting. And so that's where the the problem comes to understand on one thing what are the only thing is that right now but just given the size or let's say where we're at right now, it's unlikely that, you know, when will impact or direct, let's say, certain votes that can change in the future, not only with rules, with anyone who
accumulates sort of deposits of stock, but but we will see, you know, what is the first experiment lesson? We'll see where that how that develops. All right, then lastly and the biggest difference, so now I have a talk with me manifold. What can I do with it? You know, right now you can go bet on the winner of the World Cup or the winner of Thursday Night Football Tonight.
If you're a sports fan or you're inclined to do so. Okay. And I am going to draw that link and the winner chat. And can you maybe just quickly extend to us, how does that work? So this is this is a partnership with with another protocol or a protocol called paradox that uses it to place bets on that on the platform.
Can you maybe just quickly in a minute or two, explain how does that work or, you know, what what should matter to those pools? How do they work? Sure. So you can go to act, but bet paradox dot com. You know, if we go to the soccer tab that you click on the World Cup winner pool and you can see the 32 different teams and you can see the current odds of these team tokens, how much volume has been traded and and how much is owned by you if you made a bet.
And kind of the way this works is, is that when every win, if you bet on a team token the odds are dynamic. So, you know, they'll be more of that team token. So the pay off of that team token will be lower in theory. However, you know, you kind of expect potentially if this market is efficient for these lines to be arbitrage in some capacity to the market efficient lines.
The key to realize here is, though, if you plan to bet you are, it is more positive to bet earlier than later because with the way this specific pool is set up, there is a 1% fee for new entrants on the pool that gets paid 100% to existing token holders. So, you know, by betting earlier, you kind of have an alternate call option on the future volume of the pool.
Hopefully that makes sense. It does. And two others want further reading brain share the link to parimutuel betting or how that how that works and of course you know feel free to drop in I would ask any any other questions okay a lot of Marty says how can they raise a proposal to change soccer football I guess paradoxes do have this crossover maybe a little theorem and you know it is.
That is your point, Marty. I love it. You know, I, for one share shared the same thought sort of thing, going to see if football is the one that, you know, you kick the ball with your foot right manifold, you know, great launch. What are the next steps for root thanks mod next steps you know concretely likely more pools that'll be spinning up, taking into account all of the amazing and thoughtful feedback collectively and paradox have received over the last 24 hours.
And I'm sure there's going to be a lot more of that. So you want to be agile, want to be able to iterate fast. So, you know, everyone on this Dow call and community in general, the feedback is really valuable. Please keep it coming so we can keep making improvements to the product. You know, the root betting exchange is also being developed right now and that's, you know, a more complicated build.
So, you know, taking in steps. But those Oracle contracts are under audit at the moment. So a lot of good progress being made there as well. You know, and just again, just really want to thank everyone that's been involved in the Beanstalk community on any of the projects that have gone live this week. It's it's been a monumental effort.
I've seen it firsthand. I've seen I know for a fact some people on this call right now probably haven't slept much in the last 72 hours or so. Just want to say thank you. And, you know, the community appreciates you. Thank you, manifold and the rest of the routine. Definitely a great launch. And in such a short period of time, I think up to now, just a few days ago, a lot were surprised on wondering how would something like this launch so fast and that as congratulations again.
Well done. Very excited inspired and and spotting as well to see, you know, things being built on top of being so excited to see what it would also do in the future. And then, you know, everyone else that tells us one on top has been stuck. Appreciation. Mike, thank you. Okay.
I think we can move to the farms and we can we can go back again to, you know, discussing I think about it as others want to. Once again, this is an open forum. So at any point you can just unmute yourself and join the conversation or ask a question. Wanting to be on the farms. Guys, how's everything with you, Ammad?
Doing well, obviously. Very exciting to see all the different things happening on the farm, on top of the farm, etc. There was a lot of coordination work leading up to yesterday and today. So I think I guess as far as you know, things to share with the Dow, that the one thing I would just add is obviously the bugs reported that led to events four and five were clearly valid.
You know, the Munich committee and the BCM moved quickly to to update the in-stock stock accordingly. So the I mean, if my committee is currently discussing, you know, the corresponding bounty for those two for those two reports, and there should be a couple different snapshot proposals that go up in the next next few days. And we'll all announce that when when they go up.
Thank you. Go and just summarize that. And maybe that's something that was mentioned at last class above six, which was post six as all of those, let's say, bugs that were farms. Is that correct? Yes. That's a great call up. Oh, excellent. Thank you. Okay. We can move to development and we have, you know, some updates there, namely from Chad.
Chad, how's everything with you? Pretty good. Marred, definitely been a busy a busy week. So I think most of the engineering related updates have probably come across in the form of some of these these new launches, but in general have been sprinting with the team to get all the necessary components for root and and paradox to launch completed.
Some of those were announced yesterday. That includes a a new version of the subclass that's been deployed to the decentralized network as well as the first beta release of the Beanstalk SDK, which in short allows a simpler interaction with the Beanstalk contract as well as usage of pipeline depot, which is what enables you to go on Roots website and for example, swap is directly into root, which performs a number of transactions.
So that was a crucial piece of the of the set up. We've got that done. Paradox is currently working on implementing that tech in their UI, so you should be able to place bets with the roots directly through the Paradox website. For example, starting with something like Eve in the coming day or two. Beyond that, I mean, just yeah, continuing to make some some progress in the background done UI bugs on the pod market V2 and a number of other things.
Thanks to but I wanted to spend some time discussing a few of these updates starting maybe. Well, you know what I would say? Maybe they're all equally as important, but starting with the pipeline and depot. So this is a separate or a new, let's say, protocol of itself. And then as you said, what it enables you to do is, you know, do multiple things or multiple transactions and one in one transaction.
So you call them all together and then and then you're able to instead of doing multiple transactions, you just drop them into one. Can you maybe just briefly explain to us how how does the pipeline and depot work? One of those two things, how do they come together and then how can others use them? And you've briefly mentioned that it's currently being used by root, and that's what enables that to be used with this paradox.
But can you maybe tell us how well that can, you know, others use it as well or as a topic for others or. Sure. Yeah, I'll try to keep this fairly boiled down, but feel free to hit me with questions if anybody has has them. Okay, so there's a couple of different pieces of the stack that have that launched this week that all kind of fit together to enable both the functionality that I described a minute ago on root and on paradox, but then also more generally within business and even within the Etherium ecosystem at large.
So I think, you know, we've we've talked a lot about the specific projects that have launched in the last couple of days. But I think even more exciting is the fact that, well, what we've built so far and what what we're working on is actually more, you know, it's valuable in Etherium generally. And so there's a lot, you know, a lot of opportunity to continue building on some of this tech.
So to kind of break down the the pieces that are important to this process. So most notably is pipeline which which might I can see you just you just linked the the paper link to our describes both pipeline and depot. I'll get to Depot in a second. But basically what pipeline allows you to do is call multiple contract functions in any number of contracts in one single transaction.
So for example, I might call swap on curve and then call being stocks deposit and then called routes mint function in a sequence. And currently if you're, you know, in traditional Ethereum transaction building and on most user interfaces, you can't do that sequence of actions unless a solidity developer has explicitly written a contract that does all of those for you in one shot, which is prohibitive and frankly doesn't give, you know, frontend developers and other developers on the theory and the ability to compose things very well.
So Pipeline enables this is its own independent contract and kind of one of the things that's unique about it is that it behaves as a sort of sandbox. So the the idea is that you can load pipeline with some assets, maybe I send it some beans, I perform some series of actions using those beans, and then I pull the, you know, the resulting assets, whatever's left over, back out into my account.
That might be a deposit. It might be, you know, some other token that I swap to, etc.. And along the way, Pipeline is able to basically handoff information between different requests. So for example, if I swap Ethereum into beans, I'm able to to figure out how many beans I received in that swap and then use that to do something else, which which sounds trivial at first, but actually in the world of, of building these transactions, that particular process of doing that, the information handoff is pretty, pretty complicated.
So we've simplified it down and basically built a spec within pipeline for for doing that which is outlined in the whitepaper. If you're interested. Cool. So moving on to Depo Depot is a a piece of the system that basically loads pipeline with certain types of assets. So in the current depot specification, you can load pipeline with ERC 20 tokens, 1155 tokens, deposit, etc..
Beanstalk deposits specifically. So right now this is deployed as an independent contract, which anybody can use. It will also be deployed as a facet called Depot Facet, which will be accessible within Beanstalk at, you know, with the next dip. So keep an eye out for that. And then the last piece to highlight here is how the Beanstalk SDK in particular fits this into this whole thing.
So the what pipeline is doing is basically providing a spec through which you can call multiple different external contracts and then also providing a spec through which to perform that process of, you know, moving data between transactions. But ultimately, it comes down to a developer to figure out how to compose a transaction so that it does all the stuff that you want it to do.
Right. The pipeline kind of enables the composability, but it's still quite hard to actually sit down and write out all the different steps in an account for some of the sort of nuances of transactions in a theorem. And so what the Beanstalk SDK is trying to do is provide a bit of a wrapper around all of this, this technology, to make it as easy as possible for developers to set up these complex transactions, sort of staple on different calls to different contracts, and then easily pass data, you know, from from this point to that point and just basically hit go.
And so we spent the last couple of weeks building out the first the first version of this, which is what route and paradox are using, which you can you can see on GitHub. But yeah, I mean, of that covered kind of the the scope of your question there, I think it did. Thank you for the experiment and you know, to everyone here who's with us who maybe understands this and was able to summarize it 5 to 10 threads or, you know, extend it in a blog post or whatever, you know, way or medium that you prefer doing that and make use of the community ground.
There's a lot of things happening and being stuck, you know, just, just announced yesterday and continue to do so. So if you if you think you're able to summarize and rephrase, you know, what's happening in your voice over there can encourage you to make use of the community grant and do that totally. And I'll highlight one lasting mod, which is that, you know, pipeline is intended to be, you know, a public good on Ethereum in some way that Beanstalk is making heavy use of to enable its, you know, low cost, you know, multilayered transactions.
But ultimately, anybody can call this contract in and perform actions themselves. And so we would love to start seeing some other protocols, taking advantage of pipeline to help their users, you know, have low cost transactions that do lots of, you know, unique stuff. And from a, you know, Building Out the Beanstalk ecosystem and building out the, you know, ecosystems of developers on Ethereum generally, like, I think Beanstalk and Beanstalk Farms can provide a lot of a lot of help and guidance and just generally be a focal point for that, for that process, since we're the developers of this technology.
So just keep that in mind. Everybody. Thank you, John. All right. Suite readings. Yep. Hey, how's it going? It's going well. Yeah. Thanks for asking. As far as updates go, on the design side of things at this point, sort of have finished the pod marketplace on the US side. So we have all the frames ready to go and all the components ready to go.
I think. Yeah, we're, we're, we're ready to build that and I think it's sort of already underway and hopefully we'll be able to kind of finish that up as we go along here. Other notable developments on the design side of things. We've started working on a Figma UI kit. So the goal is that, you know, somebody can if somebody wants to add or build on top of being stock, they can sort of clone the figma, the Figma file and be able to use the same components and same structures that we already have.
So that's sort of in the early stages. And then over the next week or so, hoping to come back around to some of the farm function related stuff that we were working on before the marketplace. So specifically, things like rents and deposit claim and deposits and those actions and chaining those together. So that's it from from my side.
Thank you. I can maybe give a quick, brief update on marketing as so we've been busy mainly with whether it's launch. We've reached out, you know, to to those who know our contacts there. But so that we'll find some of them come on this quarter, ask more questions. Others are just checking it out. A little sensitive. So we hope the next step is that's for them to cover that maybe a more in-depth sort of details on a press release front.
We've had interest to see the interest of our tax office from gambling websites, but not yet crypto. So as you know, as the work continues, we hope we are, you know, interest from them will be it will be picked up. Then lastly, the occasional video. I know this has been going on for some time. We have or received a draft for the discussion video.
We have some comments on it updating that and we hope to have it in the next few days. The last thing that I wanted to say is that I've reached out to two newsletters, but we want them to do some deep dove or a deep dove. On being stuck out of the consulting ecosystem in general. We expect, you know, the deep dove to be paid, but it would be independent, so it wouldn't be written by us, it wouldn't be influenced by us as mortals, you know, come check.
Check us out to know what we're up to and write about what's what's happening. You know what it would be nothing. Nothing has done yet. But this is more of a sharing topic to the Dow ahead, you know, maybe happening. That's a step on my end. Publius, we've spoken a lot about what's happening, you know, whether it be in stock, what are the feelings manifold?
I know you just said, you know, a lot of people have been having little sleep in the past few days and I bet you know, you're one of them. What are you thinking? What is feeling? What's happening? You know, what are your thoughts on the future as what?
Well, on this end, it's been a it's definitely been a long couple of couple of days, if not weeks at this point, trying to get to where we're at now. Going to try to put out a tweet thread shortly to just shout out all the different things that have gone on and people that have been working on. From our perspective, it's really it's really special to be a part of not sure how we got so lucky to be surrounded by so many hard working, mission driven, self-sacrificing individuals.
It's just it's really a true blessing. So lots of lots of being farmers and non being farmers. The paradox guys have not been involved in being stuck at all, have just really all come together to to put out a lot of different stuff. The stuff that is all generally composable. Let's call it, and really starting to feel the power of building in Defi.
And so it's all, you know, don't want to get ahead of ourselves because there remains so much that can and hopefully will be done. But definitely a cool, cool couple of days. Agreed. And I guess the paradox example is, you know, or you know, it's one of the examples that even if you don't build directly on top of being stock, you're still you know, you can access the route economy and, you know, sort of the economy you know do it is as one or the route talking is one thing that facilitates doing that just given this fungibility.
Okay, probably what you have here is a question from a lot of marketing and they ask, does Bienstock have any exposure or expect any potential exposure to the FDX clean ups? So to some extent, I mean, stock has exposure to everyone and everything because it's it's counterparty is the market as a whole in practice unless us, DC, USD, T or die either a collapse or have significant deep pegs, it's unlikely the stock will be directly affected.
But again, to the to the former point, let's say the Beanstalk existed at at scale prior to the collapse. It's not unreasonable to expect that people would withdraw funds from being stock or withdraw liquidity from being stock, whether it's logical or not, or because they need liquidity or for whatever reason. So generally liquidity tends to be pretty correlated and therefore it's not unreasonable to expect that even now it may be harder for Beanstalk to attract liquidity just because of the environment that that it finds itself in.
But at least as of now, unless Usdc or Usdc or DAI really breaks knock on, it's not going to seem too much direct exposure, primarily because of the small size of the liquidity at the moment. Thank you for this, but I hope that answers your question. Yeah. I mean, maybe just want to take a second to talk a little bit about the discourse that's been happening in discord in particular.
And on the one hand, the the the the discourse in, In the Beanstalk Discord and about Beanstalk is, from our perspective, really one of the defining features of the bienstock community. And the high quality of discussion and debate is something that has been in place very early on within the discord and early being. Farmers like Mr. Moti really have had, had and continue to do an amazing job of setting the tone for what is the right way to to act in in a decentralized, pseudonymous setting where censorship really isn't encouraged.
And obviously there is the potential for censorship on discord. But the nature of Beanstalk being an attempt at a censorship resistant currency doesn't really make sense to have a lot of censorship in the in the forums, or at least it's hard to logically get behind something like that. And the result is that there have always been and continue to be infinite ways for people to raise their voices and opinions and make them known and want to want to explicitly talk about over the past couple of weeks have really felt like the the tone and generally the way that people are talking.
And it's not everyone, but certainly certainly some people in the community, things have gotten very negative. And that's that's not to say that criticism isn't welcome and healthy and from our perspective, appreciated. But it's all about how criticism is presented is really just want to take a moment for those that care to encourage those of you that are seeing people being really negative to to to highlight it and to shout it out and to try to encourage them to be more constrained, active in their in their ways that they communicate and to also lead by example.
And those of you that that may hear this and think that they you may not be particularly constructive at the moment and are being negative. We really do ask that you you reconsider the way that your your communicating, because it it's not helpful and it's definitely negative some behavior. And to some extent this is some of the tragedy of the commons that being stuck is going to have to deal with in perpetuity.
But for those of you that care about the long term success of Beanstalk and feel like, oh, most of the people here certainly do, if if the goal is to conduct oneself in a way that is conducive to being stock, being successful, being negative, certainly doesn't fall into that. And so there's lots of problems that are worth discussing solutions to.
There are lots of problems that may not be currently raised. And people that are shouting out those problems, we we salute and appreciate you and, yeah, it's it does feel like things are at a little bit of a turning point, right, where a lot of different contributors have raised that. They're thinking about leaving either bienstock farms or being sprout.
And from our perspective, it seems very clear that a large part of that, the lack of desire to spend time justifying things to to trolls in the discord and with good reason, because everyone that's currently from our perspective, everyone that's working, certainly that's paid by the Dow to work on BIENSTOCK is on the DFC or paid by the Institute.
These people are working around. I mean, it's it's really amazing to watch how much people are giving to Making Beanstalk a success and then to pop into the discord and see not just negativity, but things that are so, so egregiously wrong that they don't warrant response. And that's why I think most people don't respond. And then it just these comments sit there and it's really toxic.
So from our perspective, censorship really isn't isn't an option or at least not one that we'd ever propose or support within the discord, but just want to want to take a second to, to, to shout people out for just really not, not adding value in the way that they are capable of. And yeah, I think we can all do better.
So on this end have not been particularly participative in the Discord dialog and more focused on class and the Down meetings. That's an opportunity to chat and to some extent that's because we want more and more Publius to have less and less of an influence on Bienstock and its community, not more of one, and therefore it's very hard to feel like we should be weighing in on every, every last thing.
And we don't want to weigh in on every last thing. Certainly not. But the point is that it's getting hard not to respond to the to the to the way that people are talking. Opinions are welcome, wrong opinions are welcome. You can't be right about everything. But at the end of the day, how you express those wrong opinions or even right opinions, that's really I think what what what determines whether you're a positive contributor to the community or not and have been talking about this now for a few minutes.
So we'll we'll cut it here. But but feel really like this is a an important issue. And if the contributors and this is not speaking on behalf of them, this is from our perspective, speculating if the contributors are going to continue to dialog so closely in the discord, the community members that are looking for responses are looking for engagement.
We challenge you to do a lot better in how you solicit that engagement because feel like everyone that is that you want answers from is more than happy to engage and try to get a are any misunderstandings clarified Bobby Any friction points and tension points and things that are wrong or can be improved, I promise there's, there's not a lot of hard heads in this community at the moment in terms of people that are working on being stuck.
There's a lot of flexibility of opinion that's required. And so just again, encourage everyone to to think about how they're trying to get answers and think about how they're trying to get information and communicate themselves and really try to be a lot more constructive. Thank you for this. That's an interesting time to, you know, to address these points.
But one thing about out of the level of ownership and responsibility I've seen, you know, what have been some contributors is really the highest I have experienced with anyone I've ever worked with or been around a lot of a lot of these people or, you know, conservators or maybe all of them feel obliged to respond and answered, you know, to a discord or to, you know, anyone who approaches them, not because, you know, they have to or they're required to because, you know, they feel responsible.
I would say, is that, you know, if you're asking someone a question, definitely go I them do it. But if you want to have a debate or, you know, maybe you're asking them, you know, why are they are they doing things the way that you would expect you would expect them to direct? There are probably two ways or three ways to do it.
One is for you to step up and do it yourself. You know, there are many ways within being stuck farms or being stuck at service and then, you know, there are grants and things too. But you could do it, you know, and you step up and do it yourself or reach out to the contributor and maybe have a call with them or, you know, this is the forum, the meeting, come to the meeting and discuss that and have an open conversation, you know, with whatever it is that you want to you know, you want to discuss or talk about.
But having it as a discussion and just by chat, there's a lot of things where, you know, first of all, it distracts the contributor. And then at the same time, there is a lot of, you know, loss, I must say, misunderstanding, misunderstandings or, you know, a lesson in communication. Yeah. And I. Oh, go ahead. No, I was I was going to go to to the next topic.
But please dig a little bit more into this. Even right now in the barnyard chat, there's discussion about the sink your pants finance proposal. And I think this is where the rubber meets the road. So let's run through an example here. First off, the question comes, Katie. Could you comment on Sink's proposal to move forward with an effort to recover funds?
That's the first problem. Who is Tim? Are you asking? Pugliese Are you asking bean sprouts? Are you asking bienstock farms There is a lot of entities that are collectively all contributing here and asking about, you know, the team to comment, even that type of thing is not that's not constructive. So in general, direct, direct. I think I think questions like that for and again maybe I mean it's out feel free to hop up here.
I see you massively push back you feel free to hop up here and discuss. We don't claim to know the right answer to you, but the point is, who are you asking for a comment from? Are you asking for a comment from everyone? Are you asking for seemed you made to come up here and talk about what what the latest information is on this front.
And the bigger point is that this question almost insinuates that there's anything that needs to be done from beanstalk farms and or needs to be done from bean sprouts. And at the end of the day, I think there is a question of whether or not the Dow can actively direct resources like this is something that is important to the Dow and want Beanstalk Farms to work on.
That's interesting, but that currently doesn't exist. Currently, the structure is, at least as we understand it, that Beanstalk Farms is given a budget and the the way that Beanstalk Farms is allowed to spend that budget is very clearly defined. But there's certainly no there, at least currently there is no way for the Dow to mandate that certain projects fall within the scope of being stock farms.
Now, perhaps these are processes that should be introduced, but at the moment I think this is this is where there's a lot of tension and see people respectfully disagreeing with us in the chat and love that. Well, our opinion should not be the the only opinion or law here by any means. The the point is what what is being stock farms is obligation.
So Pat's finance came and presented to the Dow. It doesn't seem like there is much that needs to get done from Beanstalk Farms is perspective and not a member of being stock farms but or being sprout if if hats wants to go ahead and do this, they should do it. If they need help from Beanstalk Farms, from an integration perspective, they can ask for help.
But for at least, at least as far as I'm aware, there hasn't been any sort of additional outreach from from them since the since the the down meeting and therefore, the real point here is what is the obligation of being stock farms or being brought to follow up with others that aren't that aren't actively doing stuff? And it's a really hard position to put being stock farms and or being sprout where someone comes with an idea and says, this makes sense, this is a great thing to do, but there's work to be done and then it's just left out in the open and some stuff is going to get picked up by being stock farms
and other stuff is not. But right now there's no process through which the Dow can mandate that Beanstalk Farms does stuff and it seems like some things are getting left hanging because, I mean, there's only so many hours in the day and there are lots of ideas and at least from what we can tell, all the people that are working on Beanstalk Farms are really busy.
And so yeah, it's great we can do all this other stuff, but everything comes at the margin. And so there's this, there's this implication from questions like this around, hey, what, you know, what's the what's the status on this? Well, frankly, there's no status whatsoever because no one's done anything on this because someone proposed an idea and that's it.
And it I mean, this is this is not a an environment where people should feel like just saying, hey, what's the status on this what's the status on this? What's the status on this? When, when, when that's going to get something done, frankly, that's really destructive. It come and do it. Come and do it. Everyone who's currently working on stock is working basically around the clock.
So people want more things to happen, come do it. But otherwise feel like a lot of this. And again, it's not about the criticism itself. There is a friction point here around process and procedure that really should be better defined so that there's not this tension. But but the the way that that things are being talked about, there is still this implicit notion that that beanstalk farms or bean sprouts are responsible for getting all this stuff done.
It's people are asking when and yeah, I think it's putting all of the contributors in a really tough spot and most of them want to quit the ones that are public facing because they can't. There's too many things that people want done and what is there to say other than happy to help facilitate it. If someone wants to do it and otherwise people are stretched really thin.
So take someone and I know I've been talking for a while and happy to yield to you in a second. Egg salad. But take something like paradox. This is a different group of people that have been building their own protocol and asked for help from Beanstalk Farms and from ourselves, from Publius, to to try to incorporate roots into their protocol and meet the World Cup launch date.
And there have been a lot of people that have been working, to Mr. Manafort's point, basically without sleep this week to try to meet their deadline. The point is that something that the individuals that are all contributing to being stock farms all self-selected and decided this is stuff that they want to work on. And it's clearly directionally the right stuff.
The SDK is now alive to some extent. The subgroups are alive. There's there's all this stuff that's been built, which is clearly directionally right. So people have been sprinting on the projects they've been building anyways, but at the margin, there's been a lot of sacrifice to help help the Paradox team, but that's because they've been they've been taking the lead.
They built their own protocol. They they did basically all the work. And then it's a question of how to get it over the finish line. There's all these resources here that turn and hopefully will help lots of cool projects get over the finish line. But the idea of, hey, there's this cool thing, it was presented to the Dow and now just because it was presented to the Dow being stock forms or being sprout because they received funding from the Dow, our response table for for now, following up with these proposals, that's ridiculous.
And that's a waste of time, energy and resources. So that's our perspective on the matter. Currently, there's nothing defined and the lack of definition is clearly the tension points and the going forward would encourage, you know, the depths that upgrade the budgets to better define what the reporting obligations are and what what what the process is. For the Dow to mandate certain things are priorities.
But right now really just want to yeah I hope this is constructive. I hope this is constructive and excellent. Didn't mean to to to soapbox you to the point where you can comment. So feel free to chat. Can you hear me? We can hear it. Yeah. Oh, great, fabulous. Look, I've I've been also in the discord, singing everyone's praises.
I think we've all done the most amazing job. When I asked that I've seen that proposal. It looks interesting. And I think I think as you've actually highlighted and I think this is why perhaps the soapbox isn't quite as justified as it might might have seemed, is that we have a process problem, we have a systems problem. And and so, of course, you know, of course you will have people looking to the people taking, you know, generous salaries, albeit for great work to in charge of putting more time in than perhaps these, as the GUILFOYLE says, shareholders who think they are board members.
I mean, to me, this proposal seemed interesting. And of course, I think we're also facing the fact that this is a DAO and we're all working that out. Right. You know, that is not something that a lot of people have lived in and lived with for a long time. So we're all getting our heads around it. I've been in hierarchical organizations for 20 years, so I'm, you know, put my hands up to my ignorance about how this stuff goes.
But yet, to my mind, the conversation that we're having, if you want to make it really constructive, says, you know who on who on the ground, who or who, who on behalf BSF that we might elect or vote for to be on the BSF is in charge of a sort of operations and management of the not only the community initiatives that are coming through, but also, you know, how the Labor to to meet those initiatives happens.
Right. So and this is perhaps what happens when you also got, you know, amazing engineers and thinkers and, finance people working on something, but you don't necessarily have people with an awful lot of operational experience, you know, I guess and maybe, maybe what we're facing is, you know, that I'm here and I'm and I'm here for the Beanstalk and I believe in it.
We've we've spoken at length about that. And and and I know that it's felt I'm sincere. My contribution is sincere here. So I think what I ask for from you at least, is also a little bit of kind of assuming the good in what I'm saying. But potentially, I mean, my question might have come at a bad time.
And there's no there's no assumption of malcontents or so just just to get as an a perfect example, a perfect example of how even unintentionally, you know, these questions all run into the same problem, which is the team owes some sort of something on a given issue. And I'd like to play right now just to follow up with like you say, though, I think this is about, you know, you mentioned bips about who's reporting to who and how and and different ways in which the objectives and roles of the of the core members of Beanstalk Farms, which could be grow.
Right. And I know that you're saying take the initiative and make it happen. You know, my proposal to get either funded by the committee or put on the Beanstalk Farms has been sort of changed in momentum by FDX collapsing. And it's kind of given me a new perspective on what needs doing. So I've been working on that. So I'm up for like taking initiative, but I think certainly we need to be able to and I don't know how it happens, but some sort of discussion forum that possibly I can take some initiative off after this call of saying, you know who on this who and this discord wants to kind of have a more management
like role or be on a sort of a committee of a subcommittee of sorts to say, all right, we're taking seriously some of the comments and the proposals, as in the discord. We're going to then decide what type of resources they need. I mean, would this be bean sprout? Right. And then we end up having conversations about which which I think is where I heard the you say the words negative.
So I'm thinking, oh, I saw them in the discord, which is, you know, Mr. manifold has done a crazy good job getting rid of the ground is being paid by bean sprouts. So then you have perhaps bean sprout is the place where you would have people saying, I'm going to delegate tasks, I'm going to choose which, you know, which projects I encourage to happen.
Does he have enough time to be doing that? Does he need help doing that? Do you know what I mean? These questions that I think it's just just real quick on that. Let's just real quick on that last point. So just want to share my view with Bean Sprout from an operational perspective and an easy perspective and may not necessarily be the right view, but it's just going to be, you know, transparent of how, you know, I kind of view the effectiveness of bean sprouts.
So I've, you know, hiring more people is actually very easy to do. And if that's what the Dow thinks is a good use of funds for bean sprouts, we can certainly hire away and fill in these roles. But I take great pride personally knowing that, you know, bean sprouts has been positive, heavy to the protocol that from, you know, eight digits plus.
And you know I think the only sell pressure arising out of beans stock sorry bean sprout was in you know ape like pre exploit last year for a marketing expense on some merchandise like a couple of thousand beans. So, you know, just want to be very clear from a personal perspective on how I view the success of bean sprouts from an objective sense is that and so yeah, when things like, you know, more, more management, project management or more operations or a moderator to mod the brain sprout channel for any questions coming to question like yes, certainly, you know, that can be done.
But I think from my perspective, just personally chatting now like I just don't have the bandwidth like like I'm just static. So I still have the bandwidth to, to do that. And I also don't want to see sell pressure arising from some of these additional roles, frankly, which is why I thought it's higher you to just leave it alone.
But like if the Dow wants being sprout to have these additional roles and communication channels and project management, etc., you know, it might it might just be a better idea just to pause bean sprout for a while. And, you know, maybe the Dow can revisit, if they want, bean sprout like six months. I'm also happy to do that because no one's really stepped up for the role.
And the few people that I've talked to are very hesitant to take it on. So just mentioned bean sprouts. I just thought I'd go on that tangent, but. But please, I don't want to cut you know, I follow, as I've said. Thanks for sharing. You know what I'm saying? This is is clearly a very busy it seems like if we're going to behave like a kind of a I don't know, what are we talking about?
A $30 million protocol. And we really want to get serious. I think then, you know, in you don't have the bandwidth to kind of have that thousand foot view of everything that's going on, that some of the potentially interesting initiatives that are coming up then we need to have some are doing that and it doesn't that doesn't denigrate or take away from your value or what you've added in terms of TV in the past.
You know, and I think I am reluctant to kind of I'm I'm of the opinion that I'm only as good as my my next day's work. And I think I don't want to rest on our laurels here. We've had a lot of, you know, of course there's not there's nothing that's there's nothing that's not forward looking here. Yeah, there's nothing at all is not forward looking.
We just we just had major we just had we just had major project launches this week and we're actively working around the clock. And I think that's for not forward looking from an EU perspective. I think the personal point I'm trying to bring up is that from because because I'm bringing this up directly right now in the Dow, many because this was obviously a big topic of conversation.
The discord this past week is from a personal perspective, just so the Dow News is like, I don't need to be in the bean sprouts seat. I'm doing so because I think it's positive for Dow. And I totally understand if there's criticism or whatever, more communication, yada, yada, yada, what's to come out of bean sprout like? That's totally fair.
I'm just saying, in my capacity that probably won't happen. And you know, I don't necessarily even align with that, like adding additional overhead to achieve that purpose. So I would probably shut it down on my end. And, you know, anyone's welcome to spend it back up or, you know, started being stock incubator and try to get funded. You know, there are BEP just wanted to make that clear once again and that all that all everything we're talking about is forward looking.
But I used up, you know, the past as an example of my mindset today. And on these decision. Sure. And that's you know, I think all all I'm saying is that with the one with this case in point and a couple of other things I've seen over the last few months, you know, then then we just there's there's more we could be doing.
And it's no fault of anyone to there's there's infinitely more doing. But it's totally there's infinitely more you can be doing. I think no one's in disagreement with that. But I think to prove Lisa's point, it's like, you know, we're all human at the end of the day. So, you know, there's trade offs that need to be made.
And, you know, this is probably just like a definitional issue or something. But, you know, I don't I, I, I think I think, you know, people are just can't do everything. You have to make trade offs in life. Like you have to prioritize certain things over the other. Yeah, I think this is a slight this is a slight straw man.
Right. I've worked in business for 20 years. I know that we can't do everything and I appreciate people's hard work. Okay. And when when you know what I'm talking about, this is a $30 million protocol. I'm saying that perhaps I mean, at least several people I've talked to would would suggest that it should be of a primary import to the people being paid by the protocol that we pursue any way to recover our funds actively.
And if you don't have the bandwidth, then you need to be. Why? Why is that the case? That's why. Why should we be recovering the funds stolen from us? No, no, no. It's obvious why. If we can recover the funds, we should recover the plans. But what's not obvious is why the people that are paid by the Dow were being stock farms or through being sprouts.
That should be their priority. That's just I don't I don't know how you can make that jump when it. Well, because everyone wants everyone to pay their own judgment. Go ahead. They're there. So I might I think that's my segue. They're paid by the Dow that was exploited. And if we want to build trust in a long term way with the money, we, everyone, everyone, everyone has to make a judgment what they think is the expected value and time spent trying to return.
But to me, speaking personally, I think the expected value on time spent recovering the funds is close to zero. I don't think the funds are recoverable now. I might be totally wrong, but I don't want to spend any of my time working. If you do well, you should. You should. And better than that, the whole structure here is that you can propose a grant to sprout right now to get paid $20,000 to lead a recovery initiative or seed so that, you know, please notice I came in like not completely dogmatic, saying, where's my where's my money or where's the money?
I said, could you comment on it? Because I'm kind of about money, but it's not like that's a semantic issue if you're saying if you're sitting here and then saying personally, you don't think it's worth it, that changes my opinion, right? That helps me understand how much this needs to happen. And I am deferring to you and totally willing to defer to your expertize in modifying my opinion going forward as it had stirred, hadn't seen your company.
And that's why typically I wouldn't comment on something like this. And I've refrained from commenting and giving it as an example for why it's unreasonable for you to think that everyone that's in some way involved with being a stock would view it as a good use of their time. So in fact, as Google is, I think it's it's pretty inappropriate for us to be commenting on specific issues like this or at least if it's not inappropriate.
Nonetheless, we'd really like not to comment on it. We want everyone to have their own independent opinions that are generally manipulated by hearing what Publius thinks, whether that's right or wrong, that's that's the way we'd like things to work, because this really shouldn't exist. And you're saying, well, once Publius tells me what I should think, that this is the whole point.
So conversation allows allows people's opinions to get better and heavy as they had the where's the crown. I mean you you do know a lot and and I look to you as a as an author and an interesting author in what the space is. So don't take it that you we appreciate that. But but the the point that we want to keep getting back to is the process there is, as you said, a process issue.
And from from our perspective as Publius, we have gone through incredible lengths to make it a or at least try to make it and we've been successful. So hence why I said make it such that there are as as little reason that anyone could say that they can't get paid to work for bienstock. And so our original comment about negative sun was not in reference to anything you'd said.
Excellent. The negative sum was in reference to the notion that there isn't money to go around or that the the type like the current budget is being misspent because things aren't being done fast enough, I don't think. No, no, no. Just to just to have clear on the recording, I don't think that at all. That's not where I'm coming from.
Oh yeah. We're not attributing that in any way whatsoever. No, no. And I think we have some optimization to do organizationally and some systems thinking to do, which to my mind is something I have a view on and something I've done before. And, you know, I can take I can take it like it's it's something I'm interested in helping with.
I don't want to come across as someone who destroys but doesn't build. So I've taken on. No, no, this is directed at you individually and certainly not the point about the negative. Something that was instead, in response to your comment about the soapbox being unwarranted, wanted to just clarify why we felt compelled to talk about this. It's because the mindset here and it is a fine line because once you have a money printer which being stock is there is a fine line between minting 100.