DAO Weekly Meeting #60

February 23, 2023

0:00 Introduction • 0:06 Operations update • 6:18 Development update • 11:40 Design update • 12:59 Publius update • 14:17 Audit of Wells • 18:17 Closing statements

DAO Meeting


Meeting Notes

Operations update

  • The dev calls have been great in making it more clear on what is going on within the ecosystem. Guy thinks the DAO should make better names for current projects similar to how Ethereum has names for key upgrades. Wells is looking to be ready in early May. Scrib3 had a meeting with the Beanstalk Farms team. Their work should start in the next couple of weeks.

Development update

  • All of the dev channels are now public. Transferring Farm balances will be added to the UI very soon. Charting updates are actively being worked on. The Wells UI is also being worked on and will release with Wells. Cujo is working hard on the subgraph. Claim and do X is being worked on and will be added to the UI soon. Grown Stalk per BDV will be merged with the zero withdrawal timer. Pipeline can now be used for gas efficient way. Publius is working on finalizing Pumps. A stable swap pricing function is also being worked on and will be launching after Wells. An AI chatbot about Beanstalk is being worked on.

Design update

  • Over the last week, we spent some time developing a UX strategy to enable the composition of arbitrary transactions. The first phase will involve enabling users to compose common flows together directly in the forms on the site (this is an extension of the Claim, Plant, and do X work) - and it'll be followed with a second phase to build a more general txn composer which will enable free composition of all txns. We set a stretch goal to be finished with all the UI design involved in the first phase within the next week. This will be my primary focus for the upcoming week.

Publius updates

  • Working to get Wells out ASAP

Audit of Wells

  • Two different firms are currently auditing Wells. Halborn is wrapping up its audit and Silo Chad is in close communication with them. Some tokens on Ethereum is designed to charge a fee when a transfer is executed. An example of this is Person A sends Person B 100 of token X and there is a .3% fee when you transfer this token. This creates an issue for AMMs.


I think we can get started. How's it going, guy? Am I doing well? I had a few things I wanted to talk about to give an update on today. So first of all, I wanted to address this general phenomenon of whether it's, you know, community members, stockholders, contributors, etc., not really knowing what's going on in terms of what's getting built, why it's getting built and when it's expected to ship. I think that the the dev calls that we started over the last few weeks have been extremely helpful in that regard in terms of it really feels like, you know, we're all starting to collectively row in a similar direction and figure out what that direction should be. But still think there are a couple of things that could be improved in terms of, you know, informing everyone what's happening. So, you know, one way I think about the structure of the entire communities is sort of like concentric circles to some extent where, you know, some some folks toward the inside of the circle, you know, the folks who are joining the 2030 folks that are joining all of these calls and staying tuned in. But I don't think it's necessarily realistic to expect all stockholders or community members to do so. And so this is why I sort of think of how, you know, as someone who spends not that much time thinking about the theory and roadmap, even I still know that, you know, the Etherium Shanghai upgrade is the one that will enable withdrawals and is expected to ship within the next quarter or so and think that there's a lot of value and, you know, coining terms for all of these different upgrades, whether it's being stock or other contracts or deploying like wells, etc.. And, you know, we can debate to what extent stock farms should be the one creating the memes and narratives. But I think that at minimum we could be doing a better job of, you know, creating the foundation for the the memes and narratives to emerge, if you will. And I think that starts with giving these projects all of these different things that are being worked on better names. So I don't really have any concrete update there, but just wanted to let it be known that that's something I've been thinking about on the other one, other access to like people knowing what's going on as is the extent to which we're sharing when things are expected to ship. You know, I don't know if it was, you know, heartburn, heartburn from the barn process or but it sort of feels like there has been this cultural drift to some extent amongst people working on Beanstalk about not necessarily sharing concretely when things are expected to ship. And I think that that's not really optimal per se. So I feel comfortable saying today, you know, just to preemptively answer when well, you know, assuming when wells means the passage of it that that wait lists are being used well and updates the beanstalk Oracle is looking like sometime in May at this point I think that the happy path at the moment you know assuming audits take exactly how long we expect them to take, you know, development takes exactly how long we think it's going to take. It's probably looking like a happy path would probably be something like early May at this point. And, you know, if we could be more specific, we would. But that's, you know, based on the information we have at the moment. So those are a few thoughts I wanted to share on, you know, the extent to which community members, contributors, etc., know what's going on. A couple of other things I mentioned. You know, last week, Ethan from Scribe came and presented about what they would be proposing to work on in the Beanstalk ecosystem from a marketing perspective. And we had met with them this week. I think many of the folks at Beanstalk Farms are extremely excited to work with them and it's probably looking like, you know, they'll be able to start, start work on what they intend to within the next couple of weeks or so. And probably the long term vision of that is them proposing to form their own organization by then, similar to how Beanstalk farms work, but in the near term just to reduce friction, it looks like in stocks Beanstalk farms will probably be funding them. One of the one of the thing I meant to mention with regards to what's what's going on. This is sort of why we also are in part why we also made all of the engineering channels public. So for folks who didn't seem invested yesterday in Discord, all of the engineering and ecosystem development channels that are happening in this discord at least are now public and read only for any farmers. So, I mean, not really any synthesis going on. The synthesis going on there in terms of letting people know what's getting worked on. But at least the data is available there for people to, you know, get a sense themselves. And it sort of seems like a no brainer in retrospect in my mind. The last thing I'll add is just that, you know, the dev call, as usual, is being hosted an hour from now after the end of the meeting and believe that, you know, there are a couple of different things we want to cover. It seems like in practice we're only able to get to one in most cases, but this time hoping to cover, you know, how we should be thinking about the tradeoffs of, you know, forcing beanstalk native assets like pods and deposits to conform to existing RC standards. And what would the tradeoff be versus, you know, proposing our own, if you will. So there's a lot there, but and a few different topics. But yeah, I wanted to show the stats. Thank you. Go on. You've shared a few things here, so I'm just going to pause for a minute, see if any of the folks have questions about this before we move to development. All right, Development. How's it going? Side of Chad? Good Lord. How are you all as well here? Awesome. I'm going to drop a pretty big message in the Barnyard Chat and then just talk through some of these updates. This is a list of the PR and development side stuff that we've been working on the past week or so. As as Guy mentioned, you know, we've opened up all of the dev channels, so a lot of the related conversations around these things is is now publicly viewable. So feel free to give those a read. And if you have questions or want to jump into the conversation, just let one of us know. And I'm happy to answer soon to start on the UI side. So two new contributions from new contributors this week actually. So Uncle Xero is working on the ability to transfer foreign policies which will be on the Beanstalk UI that is in review currently, so that should ship soon. Townsend is a new contributor, is working on some upgrades to charting, including on the job market page as well as on some of the analytics charts. So welcome to both of them. And then in the background, Marshall and Alby and have been working on the Wells UI, which is going to be, you know, released with Wells here in the coming month or two, as well as getting that hooked up to the actual Wells contract side. I missed a couple of things here. Q Josh has been working very hard on the Wells graph, which is largely complete at this point. And then in addition, working on some upgrades to our other sub graphs, notably the being sub graph, which will hopefully allow us to have things like historical data from from pre replant included in those those data sets being Sarma is also working as well in the background on the claim and do X functionality across all of the different different forms in terms of upcoming bips. So we talked a bit about this on the previous call. So all kind of omits some of the details, but Peterman has pushed his Groen stock for BTV PR, which is currently in review and sort of final gas optimization and tweaking with myself and Twist and Brain and the rest of the team. So our goal right now is to get that merged in with Breen's zero withdrawal changes. If Breen's here, it doesn't look like he's here right now, but if he hops in, I'll have him give an update on that process. But in summary, we've sort of wrapped up, you know, basically found a solution on the zero withdraw front and Brian has got that implemented and expect to get those all sort of merged together and prepared for for audit and then BIP this week. So to be clear, we probably won't actually push it to audit this week, but the PR will be ready on the well side, a lot of stuff going on. So after some feedback from from Hal Born, we implemented some functions within the well to support fee on transfer tokens. K Exo has shipped a new feature which allows gas optimized swaps between wells when using pipeline. So this allows pipeline to be used as a as a gas efficient router for multi multi token trades. Much like what the uniswap router does with some notable differences. So that's there's a PR out for that. We've got a number of people working on gas optimizations and testing and and security related things just kind of looking across the code base. And then Publius is working on aquifer testing and finalizing pumps. A couple other things that are going on some server side projects. Moon has begun work on a stable swap pricing function for wells. Just sort of getting the the groundwork laid out there so we could, you know, hopefully have that ready to go sometime after soon after Wells launches. New contributor and who I don't I don't think is here with us right now but he's been working on some internal tooling that will help monitor our transactions and pipeline and just kind of see what what activity is being is occurring there. Another new contributor, Circuit Breaker, has been working on some tooling related to the contract side, continuous integration that we do on GitHub. So basically whenever we push code, there will be some new scripts that run to help, you know, verify that the code is safe and things like that. There's an AI documentation chat bot which is currently in development, I believe Crypto Wizard is working on that. And then yeah, had some conversations with was Scribe three just about the, the marketing related stuff. So that's a bit of a bit of a brain dump. Happy to answer any questions, but needless to say, lots going on and pretty excited about all the new the new contributors who are with us. So thanks to everybody who's been pushing code. Thank you, Chad. I'm going to also pause here for a bit, see if any any of those with us today have any questions. Okay. So it would be good to be with us today. But he left a message. But I'm going to lay it out. So they're working on basically a UX strategy that will be laid out or put out in two phases. And the first phase is going to involve enabling users to compose common flows together directly into the forms on the site. So an example or just an extension of today where you can claim and then you can claim a plan or you can claim and do some some other other transaction. The second phase which will follow with that it will be to build a more general transaction composer, which will enable users to see compose any, any sort of arbitrary transactions. Their stretch goal is to finish the first phase of the UI design within within the next week. And then the the second phase will be the primary focus for the for the, for the next weeks. Although it's nice. And then if anyone has any questions, feel free to show them at the end directly. And maybe I incorrectly say that you can claim a plan now, but you can do that now. What you will be able to do, it's one. Okay, fabulous. Any any thoughts or comments on your amp? Not not in particular on this and just we working to try to get a wells out as soon as possible and otherwise nothing, nothing worth spending time on in this context, I think we will have a lot to discuss. And I was during the leader's call and had a chat just mentioned that the the last call or the oracle related discord was was very important for the development of wells and they look forward as everyone else for more from out of this course and we welcome everyone to come and contribute I got in this in this development calls okay going to pause again see if anyone has any questions about anything, you know, being related. So whether we discussed it today or another day or it has never been discussed, feel free to unmute yourself or just drop in a message in the in your chat and I'll I'll read it now and Harry asks how the well or the audit of the wells going. Yeah, I can speak to the wells on it. So in summary, right now we have two auditors looking at it. We've got Holborn and Safran, who are both doing their own independent research, and then we may have some other folks come in and take a look at it in the coming weeks as well. But that's TBD. I'm going back and forth with Holborn as they're wrapping up their side, so we've taken some feedback from them, like I mentioned on the fee on transfer tokens. But generally everything is looking good. I'm hoping they have a report to us this week. But you know, it kind of comes down to their timeline there. So keep everybody posted. And my expectation is to see something from them in the next few days and then Sephora and has done sort of their initial audit of or is in progress with the audit of sort of the core wells code. And then the next thing up is for us to deliver them the final aquaphor code and the pump code, which as you know, per the dev call this week, is, is something that we're still iterating on and sort of deciding what the right configuration and values look like, but hoping to have that, you know, to them and all wrapped up and in the next week or so. Chat Can you share a little bit more about the idea of a see on token transfer? What was the reasoning behind that. Yeah great question. So some tokens on, on a theory of in charge A or program to charge a fee when transferring. So there aren't many major tokens that actually do this, but there are some for example tether which are designed so that a fee could be enabled. And what this would look like is, you know, I send you 100 tether, but when I execute that transaction on chain, a portion of my transfer actually just gets transferred to tether basically. So, you know, maybe like it's, you know, 0.3% or something like that, in which case you would receive less than the amount that I had specified to transfer. And this creates a lot of problems for Amms like, like Wells and Uniswap also has a pretty significant amount of code related to this because the amount of tokens that the well holds now no longer matches up with the transfer sort of calls that are made to transfer the tokens. And so you have to do some extra math and extra computations in order to account for that. So we've come up with sort of our approach to how we're going to solve this. And, you know, in summary, it's going to look like the sort of base swap functions don't take into account tokens that that are fees. And for the cases where you're trading on wells that that do have tokens that that have these fees, you have to use a different function. And we've we've tweaked the the logic in the wells a little bit such that in cases where a fee gets enabled after the fact or something like that, it doesn't cause a security issue. So a lot a lot of nuance there. But, you know, I think our position is that generally these fee on transfer tokens don't really make sense. And there's a lot of ways to navigate around a token that tries to impose a fee and so we don't really expect this to ever be a an issue in practice, but it's something that is technically feasible and there is at least some precedent for on chain. So particularly after how much recommendation decided to, you know, dig a little bit more into it this past week. Thank you. Thank you for the details of Champ. All right. One more minute. Just to make sure if anyone else has a question or a topic that they'd like to discuss. Otherwise, we can conclude this meeting. And as a reminder, on top of the hour, the development code starts. Thank you all for joining us today, and we'll see you next week.