DAO Weekly Meeting #52

December 29, 2022

0:00 Intro • 0:17 Operations update • 2:24 Development update • 4:01 BOP-2 update • 5:32 Publius update • 11:12 Closing statements

DAO Meeting


Meeting Notes

Operations Update

  • Making sure everything is ready to go for the Seraph BIP
  • Working on a Beanstalk year-in-review blog post
  • Seraph BIP and BIP-31 should be live tomorrow

Development Update

  • Lot of documentation is in progress, including the backend and the subgraphs
  • Working on a number of UI improvements including the Pod Market
  • Looking into hiring and growing the team and getting ready for Tractor and Wells

BOP-2 Update

  • The Hats team has finished the ethical return contract is almost done, and they are happy to help out with any auditing there is needed

Publius Update

  • Right now they are focused on the Well’s code and it is almost ready for audit. In addition, Tractor and a new Root token are almost ready for audit
  • Working on a Publius thought piece for the year
  • Looking forward to getting markets up on Tractor and some Wells on Mainnet
  • Brean is working on changing the withdrawal timer to be 0. The problem with removing the timer is it adds a new exploit path. You could add Beans to the Silo, call the Sunrise() function then withdraw. The way to fix this is Bean mints will be distributed linearly over the course of the hour. You would have to have Stalk exposure for a given amount of time to receive earned Beans.


all right um GM everyone and thank you for joining us today let's let's have a start with a round of updates from being so France guy can we start with you we're happy to um I don't really have an incredible amount of news but mostly been spending my time on making sure we have all our our ducks in a row for both the Seraph bip itself as well as making sure halborn has everything there on their end uh that they need in order to activate serif and then also been spending some time on a uh uh Beanstalk year in review blog post of sorts that we're hoping to to share in the next couple days okay and um I I understand there is going to be a year to view um article as well guy that Vince is working on yeah that's what I was referring to uh sort of uh just gonna be a timeline of sorts of everything that happened on the farm in in 2022 some uh data on stats and all the different things that happened and and yeah yeah and and you mentioned the set of grip is expected sometime soon as well uh yes good good call so uh the hope is to propose uh bit 31 the budget bip uh bip 32 the Seraph one and uh the bfcp renewal proposal uh hopefully tomorrow all around the same time that way farmers only have to bust out their Hardware wall at once so yeah if uh we're able to propose it tomorrow then it would end all three of the voting periods would end a week from a week from tomorrow or January 6th I think excellent and and they're all bips correct so they all will will all require over 50 percent uh not the BF cpc2 uh that one is 25 but yes on the other two bips would be 50 voting for would be required to pass okay all right thank you guys um Chad do you want to give us maybe some updates on development on your end sure um so a lot of things going on really just a continuation of some of the stuff we talked about last week so documentation continues to get written on the protocol side and on a number of other pieces of the system uh like the subgraphs so just really trying to make a good effort to have that documentation be really really clean and then working on a number of UI improvements the the Pod Market has been something that we're still working on in the background that we want to ship an update for soon there's been some sort of internal problems getting that getting that finished uh with some of the infrastructure but getting close to having that done and then aside from that looking forward to towards the next year in terms of of hiring and growing the team and starting to roll out some of the components of uh tractor and Wells primarily so I've been spending some time thinking about how to tackle that process okay thank you thank you Chad um all right before before maybe asking uh Publius for comments sync a bit did you want to talk or chat a little bit about the the Bob and and the update on there or what's what's happening with it it's okay if you don't if you don't want to or you don't have an update as well hey Ma do you hear me I hear you great great uh happy early New Year to everybody and hope everybody had a nice holiday um yeah so um as far as the Bop is concerned um the hats Finance team um my understanding is the ethical return contract is pretty much done from their end right now so previous commented had some questions about it I appreciate um you know your feedback and hopefully their Clarity was um helpful they are available to you know support any testing or auditing related efforts after the new year I presume with the holiday coming up you know this probably will be Revisited after the new year so um you know a lot of the hats team is based in Israel so um you know time zone differences you know just be mindful of that they might you know if you ask them a question they might I'll get to it right away um but you know they're gonna be on top of it available so um and again if you guys need anything from me I'm happy to you know do what I need to do to to keep things moving so um that's pretty much it okay thank you thank you babe all right Publius um any closing comment uh comments on your end maybe you know what do you focus on right now um are there any updates with wireless on on what what can we expect maybe in the next you know in the next year wow uh yeah the next year is quite a long time so uh uh you know hopefully there's a lot of stuff to expect in the next year um I guess for now uh you know mostly focused on you know uh getting getting the wells code ready um would say that you know kind of the core Wells functionality is you know about ready for audit just need to you know wrap up some documentation um you know on the audit front uh you know kind of tractor Wells and a you know new iteration of the root token that root has been working on uh are all about ready for audit so hopefully um you know those will get into the audit stream sometime soon as believed there are some streams opening up um so definitely a lot of code being written across the back end uh you know developer ecosystem um you know uh in addition to that you know still kind of uh working on you know uh a previous thought piece uh that's you know been in uh in you know kind of draft for a while and uh you know look forward to sharing that with everyone um in the upcoming week hopefully uh you know uh getting closer and closer every day to having that wrapped up so kind of um you know collectively uh you know a lot going on and uh you know really looking forward to you know finally getting some markets spun up on top of tractor and you know getting um you know the wells code deployed and you know some some wells up on mainnet um you know going to be um you know a lot of work between here and there uh you know across the stack um and you know really excited you know to to get some new code out there um again uh you know kind of also on the backhand side uh you know Breen is still chugging away at that moving the withdrawal timer um you know believe that you know that's currently an audit but there are a few changes that need to be made and um yeah so I think that that's about it uh Publius maybe a question with regards to removing the withdrawal timer um how how do how are we going to approach this um with regards to you know seniors distribution I remember when we discussed it maybe some time ago we had a few options or a few ways to tackle this what what is the one or way that we are looking into right now so the primary problem with removing the withdrawal timer altogether is that it introduces a kind of exploit Vector where someone could receive being senior age in a risk-free manner and the way they would do this is deposit beans call the sunrise function and withdraw beans because withdrawing beans is an autonomous action they would you know and you know potentially you could even wrap in a buy and sell at the beginning and end there but basically someone would be able to receive some portion of being seniorage given that they deposit have stock beans are minted and they receive earned beans because they are a stockholder which they then immediately withdraw they receive being senior age when they held stock for a total of zero blocks as they atomically deposited earned beans withdrew and also could you know out of buy and sell on both ends um so kind of alongside the removing of the withdrawal timer and why um you know it is a substantial piece of work is a slight refactor of the earned Bean reward mechanism um and the way that change is being implemented is that instead of all of the urn beans being distributed when the sunrise occurs the urn beans are now distributed linearly throughout the course of the season over an hour so um you know beans documents a thousand beans when a sunrise call is called over the course of the next hour there's a thousand beans will be distributed linearly um so after 30 minutes 500 urn beans will have been distributed after an hour a thousand will have so now in the case where someone deposits calls the sunrise function and withdraws um they will have received zero earned beans because zero seconds would have passed since the sunrise occurred and you know zero over three thousand you know 600 times when one thousand is zero so um you know uh now someone would actually have to you know uh have stock exposure for a period of time in order to receive any earned beans okay I think I think this is clear so there is no minimum amount of time um required for a depositor to be in The Silo to receive being senior rich but you would only receive an amount proportional to the basically the time that you've spent during that season yeah all right great thank you thank you Publius for the explanation and look forward um you know to seeing to seeing that proposal or Improvement okay I'm going to give it maybe a minute or two or you know however time we need see if other folks have anything that they they would like to discuss um before maybe we end this meeting and as guy says GM so much here okay with that I think we can end this call thank you all for joining us happy New Year and we'll see you next week