DAO Weekly Meeting #58

February 9, 2023

0:00 Intro • 0:12 Operations update • 5:26 Development update • 10:27 Design update • 16:57 Publius update • 22:20 What would the process be for changing governance? • 25:29 Preview of Dev call #4

DAO Meeting


Meeting Notes

Operations update

  • There are two or three different upgrades to Beanstalk that Beanstalk Farms want to purpose before the Wells BIP. The first one is the Sunrise Improvements BIP. This is including an improvement to the Sunrise to reduce Beanstalk issuance. The other thing this changes is it adds a Dutch auction to the start of every Season to reduce Pod issuance. Another BIP is the Silo V3.1 which removes the withdrawal timer. This also changes cumulative Stalk per BDV. This is a stepping stone for the Stalk gauge system.

Development update

  • There will be a new auditor to audit Wells alongside Halborn. The Team has started a code review of Pumps. Silo Chad and Brean have been finalizing the Sunrise Improvements. The frontend and middleware teams are working on all the things needed for Wells.

Design update

  • Finished a Bitcoin futures 3d chart. Working on the UX/UI for the next couple BIPs that are being purposed. Reworking the Farm Balance system is going to be coming up soon.

Publius update

  • Publius really enjoys the uptick in community calls and they think it has increased productivity and synergies. They want to create an environment where everyone feels like they can contribute

What would the process be for changing governance?

  • It is hard to say, but it depends on what the change is ie if the quorum is changing this should be a BIP. Stalk delegation would be a BOP since this is not a change on the Beanstalk level.


All right. Hey, Ron, why don't we go ahead and and kick things off, I think might not make today. So I'll be hosting. So happy to give an update on my end first. So I wanted to spend a minute or two sharing in thoughts, some thoughts on the ordering and timing of the next couple proposed BIENSTOCK upgrades as well as the as well as the deployment of wells, because I'm not sure how much how much time we've actually spent talking about it on these on these recordings. So I think it's helpful to get it on the record to some extent. So at the moment there are, depending on how you slice it, two or three different upgrades. That being Stockman's I'd like to propose to upgrade Bienstock before the deployment of Wells. So one of those is the are the sunrise improvements, changes that Chad, Katie and Brian have worked on over the last couple of months. It's mostly been in review and audit stages more recently and that can be broken down into primarily a couple of different changes. The first of which that Katie worked on, which is the Sunrise Award incentive optimization that takes into account the the state of Etherium like gas prices among other things to reduce being issuance for the Sunrise Award. The other part is the morning or Dutch auction that been implemented that is unlikely to have a significant effect on being stuck in the near term given that soil is abundant. But the concept is that whenever there is increasing demand for soil in the future, that fewer pods will be issued whenever a demand for soil is excessive, if you will, and the UI that red beans designed for that is pretty nice. So excited for everyone to see that when the time comes. The other is that I suppose you could call it silo v 3.1 in which there are a couple primary changes, the first of which is the removal of the withdraw timer that Brian has also been working on. The concept there is that any, any timer that in which you are unable to claim, withdraw and claim assets at once is just an inefficiency from a UX perspective, and that that change also requires that earned beans be distributed on a time weighted basis. Given that if only the withdrawal timer was removed, the being stock would be subject to a sandwich attack akin to one where someone deposits assets and the silo called sunrise earns beans and then withdraws in the same transaction. So that part is a little bit involved and also a change that we're hoping that get started on an audit sometime in the near future. The other part of what we would call Silo B 3.1 is the cumulative grain stock per BW changes that Pete Spann has been working on, and that is a necessary foundation for facilitating a future start and gauge system, as well as updating the seed per BTC more easily for a given asset on the deposit waitlist. So what that looks like in practice is transitioning deposits from being indexed based on season to being indexed based on a cumulative ground stock per PDB, which perhaps if chatter pools can share more on the technical details later in the call, if they're if they're interested in doing so. But the idea is that after that change is made, it would be very straightforward to update, for example, the unripe being three curve LP seeds per BTV reward from 4 to 2, which, you know, later last year, you know, perhaps it was back East or some other folks that participated in the discussion. Apologies if I missed remembering around September, October or so. The idea being that being stocked doesn't necessarily need to incentivize unripe it being three curve LP holders any more than unripe being holders. And so that change in particular is especially likely to have an impact impact on peg maintenance immediately or shortly thereafter. So that's a quick overview of some of the upgrades that we'd like to propose to be in stock over the next couple of months before the deployment of wells and then of course the post deployment of a beneath. Well, there would also need to be a bit that waitlists for being well LP token as well as facilitate the all the necessary integrations with beanstalk. So think like update changing the the beanstalk Oracle facilitating converts to and from that being well etc. and things like that. So I think that other folks on the call probably have more to share there and have some other thoughts I want to share, but we'll kick it over to switch for now to give an update on what's going on in their world. What's up, buddy? Thanks for the overview there, guy. We've been of everybody else's contacts. We've been working to try to nail down the exact timeline for things, so everything's sort of adjustable depending on audits and etc. But just wanted to give a little bit better insight in terms of the the sort of, you know, set of things that's going to be hopefully deployed in the next couple of months. In terms of the past week of dev, a couple of things. So first and foremost, we engaged a new auditor to begin an audit of wells alongside help. So they've begun that process as of as of Monday believe it's going on for another couple of weeks. The auditor the audit firm is called Saffron. If you happen to see them on Twitter, give them a shout out. They've been great to work with so far. Ultimately, I think we talked a little bit about this previously, but just really trying to make sure that Wells is, you know, well architected and reviewed by lots of different people. And so that's part of our effort there. So we've been supporting them and onboarding in that process. Sort of a couple of things in flight currently. One, we've begun a team code review of the initial pump architecture, which Publicis has developed. I did some calls this week discussing progress on that and, you know, some changes and further points of research. Ultimately, we we think that the pump is, you know, something that, you know, it's a crucial piece of the infrastructure to get right. And we really want to make sure that the math and the testing and etc. is is locked down. So we're tackling that from a number of angles, including, you know, our own internal testing and multiple auditors looking at that. But that process is moving forward and will likely take, you know, at least another week or so to really have a fully fleshed out test, Sweden, etc.. In tandem with this bring in, I have been finalizing one of the components that I mentioned, which is the sunrise improvements, changes. The core of these changes was developed back in December, but since then we've been updating them to, you know, basically add some documentation and refactor a couple of things for gas efficiency. So have been performing that process and expect that process to to be completed before the end of this week on sort of middleware and other components. So all of the the non contract side components of wells that would be necessary for a launch are currently moving forward on the front end and middleware side. So CUDJOE has completed a first draft of the sub graph schema for Wells and Marshall and Alex are currently in the process of developing the integration into the Bienstock UI. So we will probably have a test version and Bienstock farms at least active, you know, hopefully in the coming couple of weeks. There's a number of there, you know, small upgrades and changes happening, actually some of them not Somalia in particular being Sarma has been working on a very large feature which would support both claim and do X and plant and do X on the majority of forms on the website. So this would help, you know, to reduce gas costs for for various transactions and kind of goes alongside our, you know, interest in composability of transactions. So that is very far along in development. We're pivoting a couple of things related to how plants and do X is performed at that sweet red beans as redesigned, but ultimately that should be nearing a release and isn't dependent on any of the BIP work going out. So that will probably go out before those things. We hope. Let's see. Checking my list. I think that really covers the the the core of it for right now. I would I would shout out for this a couple of folks here who I've been talking with over the past week about about, you know, joining the team or working on things within the beanstalk ecosystem. A couple of people this in the past week have pushed some upgrades to the beanstalk. UI, you know, basically have their own accord in sort of an open source fashion. So I just want to emphasize, first of all, to everybody who's done that, you know, thank you for for hopping in and and writing some code. Really appreciate it. And if you're interested in doing more, check out the issues page or or reach out to me. And then just for everybody else, you know, I think we're at a really, you know, exciting inflection point in the way in terms of developer interest in beanstalk. And so let's let's keep the pedal and on the floor and keep this thing moving forward. Awesome. Thanks for the update. Add red beans. Anything you wanted to share today? Yeah, Thanks, guy. So over the last week, finished sort of an early version of the the Bitcoin futures for three dimensional charting interface. It's been a really good exercise. We've actually found a couple sort of gaps and hopefully things that will also sort of apply to the open market places. We're thinking of generalizing these components further. So at least for the next few weeks, I'm hoping to step away from charting for a little bit and focus on some of these upgrades that are coming out in the near future. Chad sort of mentioned the the ability to add a claim implant and a number of other transactions to the different forms on the website. And so focusing on getting that out hopefully as soon as possible. And then there are some other UI sort of minor tweaks with the forms that will go out as part of that upgrade. You know, shout out Mr. Emoji and Nasdaq for mentioning some of those in the UFC back channel. If you if you guys have any more thoughts there, please feel free to share some other things that I'm sort of hoping to work on in the next few weeks is making sure that the UI for the the field temperature digestion upgrades is ready to go and when the bit goes live, another sort of big project of my mind is rethinking the sort of integration of the farm balance in the UI. I think it's it's done pretty poorly as it currently stands and so hopefully want to sort of rethink that from first principles and think about how we can build a better experience to sort of manage and utilize your farm balance as part of that work, hopefully. Well, the ability to transfer your farm balance between, well, transfer to and from your farm balance with other farmers and then and then hopefully revisit the so the wells UI that we sort of built a few months ago and haven't really had a chance to to sort of perfected. So hopefully we'll make some minor tweaks there before the Yugoslav there noted guy next time I'll be sure to not around so much but that's that's my update for this week. Apologies didn't mean to distract but yeah I heard a lot of click. I thought it was pretty funny. Could you share some or shed some light on the impetus for working on that Bitcoin future stuff? Like in the context of just for like, you know, sure, there's some folks listening and that may not understand why that's being worked on at the moment. Maybe you can talk about that in light of, you know, the generalized marketplaces with regards to wells and tractor and things like that. Yeah, of course. So the basic idea is, you know, we sort of assume that as sort of wells and tractor gets built type, there's going to be a lot of need for a sort of generalized charting solution that's going to be able to support not just, you know, fungible assets, but obviously, you know, the pods pods are a great example where they're sort of semi fungible. And then there are other assets, you know, with deposits are another good example of this. And so I think in the long term sort of future, we're going to have to build some pretty interesting charting tech, which doesn't really exist today anywhere else. And so the thought process behind putting together a sort of Bitcoin futures chart was to see if we can take some of this tech that we've developed. Or I guess at this point it's mostly a demo, but the demo that we've developed and see if it generalizes to other sorts of assets, which with a similar structure which futures is, is similar in nature in the sense that the the expiry of a futures contract sort of impacts the value and sort of the the trading activity behind or around that specific asset. And the reason for that is, you know, there's there's been sort of discussion and to see, you know, whether or not there would be appetite for this sort of charting solution from other I don't want to say customers, but other users. So if we if we develop like a really awesome charting technology, is there a use case for, you know, some other exchanges who would want to use this technology? And if that's the case, then how do I think sort of discussion on what that looks like? And, you know, if that falls under Bienstock farms and all of this is sort of getting figured out in real time and sort of depends on the type for this like charting interface, but that's sort of that's sort of how we're thinking about it. So that's why that's why I've been spending, you know, the last few weeks sort of thinking about this and trying to generalize that, that charting interface to a different asset structure. So not sure if that, you know, answers your question if it was too much or too little, But if anyone else has questions, please feel free to ask. I think that was great. I think at some point it would be really cool to have you do maybe a little demo at one of these meetings at some point. That would be amazing. Yeah, definitely happy to do that. Great. Yeah, we can chat about that later. Figure out figure out when tweet. Cool. I have some other thoughts I want to share on like budget stuff, things like that. But hopefully folks have been thinking of questions as we walk through some of this stuff. As you know, that'll be the remainder of the hour or so, but perhaps I'll kick it over to publishers, see if there's anything in particular that they want to discuss or give an update on, etc., Nothing in particular to report on this. And I would just comment that have found the community calls and dev calls happening at an increased cadence recently. Very helpful to get everyone up to speed on what's going on and facilitating really positive discussion and it's unclear whether that cadence of twice a week, 2 hours is necessary in perpetuity or whether that's even sustainable. But certainly as a sprint to sort of get everyone's heads together and get people on the same page, I have found it to be very helpful. I'm already noticing some more synergies and connections happening as a result of some of some of the community members presenting what they've been working on, which is really wonderful and would encourage other people that are doing other stuff in the in the general chat through she talking about a game where the in-game currency has been the no we haven't had irrigation present yet. The more that people feel comfortable talking about what they're working on, why they're working on it, how others can benefit from it. I think that the network contract around our ecosystem is going to benefit tremendously. So just want to continue to create an environment collectively that we all feel really comfortable contributing to and have really been enjoying that over the past couple of weeks. So I think we have another dev call after the town meeting and I would just encourage everyone to continue to come and ask questions and talk and feel like together we're all going to figure this out. So it's very exciting. Thanks for this. And yeah, I would agree, feel like in many ways the first and second dev calls sort of indicated a need for more time having those very calls. So I think that at least for the next couple of weeks or few weeks, we'll probably continue to do those twice a week and folks can always find the timing in the at the top of the top left of discord on the events section but in general will be Tuesday is a couple of hours before class and then Thursdays right after these DOT meetings. So one of the thing I wanted to mention before we maybe pause for some questions was the the 33, which was the combined Q1 and Q2 budget for four BIENSTOCK farms passed yesterday, which is exciting. I think that, you know, the last couple of months of Tyler said does work. There's requiring a lot of effort to, you know, pass and campaign for these these bips, etc.. So that was exciting to see. However, you know don't think that conversations around how to structure funding development should necessarily stop because, you know, in many ways the existing model or the current model for for funding development is imperfect in a lot of ways. And, you know, in light of what Chad talked about and what I was mentioning earlier about all these various projects to coordinate across, feel like the last couple of weeks in particular have made it even more clear to me that for now in, you know, for the for the stage at Beanstalk is that that team based development approach is the most optimal one, you know, particularly in the context of our life for the Dow. And yeah, I just wanted to say that pretty excited for the group and team we have at the moment. And I think that, you know, there were some conversations around whether the team based approach makes sense versus, you know, having everything be, you know, bounty ized or grant based. And so it feels like one of the main things people are concerned about when they surface those ideas is the tradeoff of accountability in that, you know, the tradeoff of someone having a salary per se is that there aren't recurring check ins for for the Dow to do necessarily. And so and I would just encourage everyone to challenge us, i.e., members of the DFC that that hire their Bienstock Farms contributors and decide on compensation. I would encourage everyone to challenge us directly, you know, On whether the Dow is getting its bang for its buck on each of these individual things. And you know, if you aren't comfortable doing that in the public discourse, my DMS are always open as well. And yeah, I just wanted to mention that I don't think discussion should necessarily stop on that front is all. And thank you for everyone who did participate in the discussion over the last two or three weeks before and during the the budget proposal. So we'll yeah, move over to some questions and feel free to unmute or drop questions in the Barnyard Chat. But Marcus asks what would be the process for changing governance along the lines of switching to yes or no voting or reducing the quorum? Yeah, feel like to me it's obviously a little bit unclear. I feel like we've talked about particularly in the last governance discussion about what would be appropriate to change via via bop or bip. Hard to say. Feel like, you know, changing quorum itself is, you know, a significant enough change that in principle it should probably be a bit. And it's not like we're really using snapshot as the arbiter of truth for for what quorum is. But yeah, curious if anyone else has any other thoughts on that. The spirit of governance is probably such that changing the calculation around voting participation should require a bit, but obviously your point as governance is now being done on a chain and anything goes. But I feel pretty strongly that anything that changes the I think we lost you for a second thing. I got kicked off. Can you guys there now? Yep. I was just saying that think that anything that changes the structure of governance should probably go through a bit itself. Fair enough. And what's your rationale for potentially stock delegation being a BOP that it isn't necessarily changing the structure of governance per se, and more so that there's nothing in a in a permissionless environment that bienstock can do to prevent delegation from happening. And so a BOP is probably more appropriate given that this is just implementing something that doesn't require a change at the stock level, but is a procedure that we would all be collectively signaling support of. But given that a permission in this environment, no bib would be necessary to implement delegation, it probably doesn't require a contract, a vote at the contract level that makes sense. All right. We'll go ahead and pause for another another minute. Again, feel free to unmute or drop any questions in the chat. All right. Going once, going twice. And as I mentioned earlier, we'll be kicking off that second dev call of the week at the top of the hour. Who is do you maybe want to share what you were hoping to discuss there, like with regards to indexing tech around wells and tractor and the like, Maybe not have the discussion itself given that that's what the call us for, but share what what you're hoping to cover. So now that there has been some level of presentation from participants in the ecosystem on what is being built on chain, there is a subsequent question around what is the necessary other pieces of the the stack, often that is necessary to facilitate the the creation of products that that that use all this tech and effectively there is front ends that need to be built and indexing that needs to happen. And so I feel like it would be helpful to have just start to have the conversation collectively around indexing on chain information and how to best do that, whether subgroups are going to be a major part of that story, how all of this should work together and what is the type of work that needs to get done along those lines. So hoping to just get a little bit more into the weeds on that for up to start and see where it takes us so well before we hop. How did a couple in light of what purists are talking about with regards to, you know, synergy in the community and coordination across the farm team had a couple community shout outs that I wanted to give in light of all the various the various work happening, because it's been really exciting to see a bunch of different farmers across the ecosystem stepping up to to help out what we're all what we're all building here. But one of the thank Mr. Moti, who had presented an idea a couple of weeks ago about getting some like Beanstalk Discord branded emojis similar to how Baratunde Chain and Olympus have their own. And I think within probably half an hour or so, GDP 3060 had an intro from us to the to the designer who did those for Baratunde and those have been started also wanted to thank him for all the participation participation in the governance channel around all the data they provided and insights. Backus over spent the better part of a couple of months going back through all the previous recordings from over the summer that we didn't get to add tones, add timestamps for take notes on and think that that's really important stuff. With regards to preserving being stocks, historical record b i c stepped up to participate in what I'll say is an undisclosed community project that we're very excited about in the context of Wells being Merchant is responsible for the intro that led to the BLOCK Mates podcast that was launched yesterday, which was I had to listen to, which was quite good. And I think that actually all three of these folks are here. So. AB-SOUL And Uncle Xero, who in many ways just found Beanstalk on the Internet and found a couple of GitHub issues and just started fixing stuff, which is really amazing. So just wanted to mention a couple of names there and I apologize if I missed any, of course. But yeah, I think it's very exciting to see all the work happening around the farm and folks stepping up to do it also feels like participation in these calls has gone up. We're now at over 30 people again, whereas at one dipped below like ten. So also nice to see the participation in Dow and other meetings increasing steadily. Agreed there. All right. Well, why don't we call it there? We'll be back in the barnyard at the top of the hour to talk about some of the things that PBS mentioned and the next step call. But otherwise, Thanks, everyone, for coming.