• Recordings
• Meeting Notes
• Big Items Up Front
• Seed Gauge
• wstETH Migration
• Multi Flow V1.1.0
• Other Project and Initiatives
• Tractor
• Generalized Convert
• Secure Beanstalk
• Hypernative
• Will Beanstalk Farms be willing to hire someone for a BD role?
• Whitelisting other Wells
• Dune Dashboard
• Transcript

Recordings

Meeting Notes

Big Items Up Front

• BIP-40 and BIP-41 have passed!
• EBIP-14 has been committed this removes vesting period on the new ETH well
• BFCP-A-16 to add Rex to the BFC has also passed!
• The seed gauge system enters final Cyfrin Codehawks audit competition

Seed Gauge

• Currently in the Codehawks audit, this should take 3-4 weeks then the team will go into remediations, and then the Target deployment of April 15th
• Guy mentions that the DAO should focus more on audit competitions where white hats only get paid if they find vulnerabilities. It is unsure if Beanstalk Farms will fully switch from private audits to decentralized audit competitions
• The timeline for remediations is unclear, it depends if there are major vulnerabilities that are found
• Guy speculates that some of the eyes on the Beanstalk audit competitions are because of the 1.1 million Beans paid to the white hat for finding a vulnerability

wstETH Migration

• Contract work is currently underway, there will be a pause on contract work while the Seed Gauge audit competition is underway
• Just like the Seed Gauge, the remediation timeline is unclear and could take longer
• There will also be a pause in development while the Multi Flow V1.1.0 is under audit. The Multi Flow v1.1.0 and wstETH migration will be deployed together
• This BIP will whitelist a wstETH Well in the Silo. It will also migrate all the Unripe Bean liquidity to this Well
• The existing BEAN:ETH Well will still exist and all of the non-URBean liquidity will still stay in the Silo
• stETH is rebasing where the token amount increases, whereas wrapped stETH is a wrapper of the rebasing token. The reason is has to be a wrapper is because Basin does not support rebasing tokens currently
• There are some discussions around migrating the BEAN:ETH well to the new Multi Flow version

Multi Flow V1.1.0

• This new version addresses the issues fixed in EBIP-9, the old version has a cap on the reserves in the Pump, and when the reserves change by a lot (such as when the reserves changed a lot during the migration to the BEAN:ETH Well) the ratios between the two tokens in the pools doesn't change until it is caught back up. This can take multiple hours to do. Multi Flow v1.1.0 fixes this. The audit for this will start April 22nd, and should not take very long.
• This will not involve a BIP since this does not interact with Beanstalk but rather Basin. For Beanstalk to use this Pump, it will be proposed as a part of the wstETH BIP

Other Project and Initiatives

• These projects include; BDV decrease, Fert metadata, Soil issuances, Gen Convert, Tractor, Secure Beanstalk, Blacklist Mitigation, Gen Flood
• The next DAO meeting there will be more gantt charts for these project
• Currently, Beanstalk only records at the time at deposit and will update when the user converts, BDV decrease will allow for anyone to update anyone's recorded BDV
• Fert metadata is currently hosted on a centralized server, this update will put the Fert metadata on-chain
• The Soil issuance will be updated to be the max of the Delta-B of the Pump, and the current Delta-B of any Well. This is to reduce the amount of Debt Beanstalk issues
• The current plan is to propose a lot of these smaller BIPs into one BIP. This makes it easier for both Farmers and auditors
• Beanstalk Farms has been thinking about increasing the Chop incentives. One idea would be to change the Chop rate to be the percent recapitalized squared. This would make it so the Chop rate is around 4% currently
• In theory, Beanstalk Farms could send all these BIPs out for audit at the same time, but this will most likely result in auditors being stretched out between multiple audits

Tractor

• Most of the contract stuff is done, and the general system of Tractor is working and ready for internal review. The SDK will be a work in progress during March. The biggest block will be the audit. Once the SDK is done, the UI will need to be worked on.

Generalized Convert

• The general layout for how this will work has been made. If a farmer had a BEAN:ETH position, they could take out the ETH and do some cool DeFi stuff and they resulted in more BDV than before, you will get rewarded for the BDV increase. The other thing that needs to be worked on is the Stalk bonus if the farmers convert, bringing Beanstalk closer to Peg. The timeline is unclear but as more development ramps up it will become more clear

Secure Beanstalk

• Secure Beanstalk allows for more security when Beanstalk interacts with anything, this is still in the design phases for this project. This will allow Beanstalk to know where each Bean is supposed to be, and it will ensure any update will be done correctly.

Hypernative

• Gal (CEO of Hypernative) gave a presentation to the DAO 10 months ago and the product has been improving since. Hypernative monitors all the activity on mainnet and has found 98% of the exploits on chain 2 minutes before the attack is executed.

Will Beanstalk Farms be willing to hire someone for a BD role?

• Guy will not be spending much time thinking about a BD role, but they encourage people to explore the BFC process to get on the BFC and have authority over the Beanstalk Farms budget
• Rex mentions that Beanstalk itself is more of an economy rather than a product. It is harder to build marketing around an economy. Basin is much more of a product than Beanstalk.

Whitelisting other Wells

• Apart of the blacklist mitigation, there will be a Stableswap function. Guy thinks it will be cool to have other BEAN stable coin pairs such as BEAN:USDC etc.

Dune Dashboard

• SoilKing will be working on revamping the Dune Dashboard. This will be able to answer a lot of questions anyone will have about the current state of Beanstalk

Transcript

well um welcome to the uh Leap Year Edition of the beanock Dow meeting uh appreciate everybody swinging by um we will try to keep this relatively uh well managed in terms of time um but wanted to walk through quite a few updates as to what's going on uh with beanock farms and the projects that are underway and to to kind of give give everyone a preview of Coming Attractions um so put the deck into to the general chat a little bit earlier on um made some updates we'll make that public uh here again probably a slightly modified version um after we finish up and then I saw that Canadian Bennett's going to be um putting up the recording uh not too long after we finish up today as well for folks that miss the meeting um but yeah glad to have everybody here and we will we'll get underway okay so kick off with some big items up front so um handful of things have been Big Items Up Front going on around the farm around beanock farms for the last couple weeks um probably biggest thing is uh the passage of the um beanock budget and the uh the bug boundy program for uh for first half and likely second half 2024 um we also had EIT 14 uh was committed removing the vesting period um and that was um basically done uh to help manage a potential security issue that was discovered back when we made the initial transition uh to the eth well um in Basin um then BFC 16 or a16 pass which was adding me to the BFC and then bfcp C4 uh pass as well which extended terms for guy mod and sweet red um then upcoming items the big thing is uh seed gauge system is entering its H final cyphon code Hawks audit competition we'll have a little bit more about that later on okay to jump into projects and initiatives So speaking of seed gauge so um Brien and Guy were really generous enough to Seed Gauge walk me through and and put a ton of information in um to the Gant charts here for the three projects that we're going to be covering today um and yeah a lot of detail in these charts to to kind of give uh Farmers an understanding of what's been going on and the work that's been happening up to this point um just to kind of give everybody here kind of an understanding what we're looking at in case you're not real familiar um so basically the idea here is that we've got um the last couple weeks kind of the left of that blue line and then everything that's coming out in the future at least over the next I think seven weeks to the right of it and um when it comes to those tasks on the left anything that's highlighted in green has already been completed so if I were to make that chart go back further into the past we'd have you know more horizontal lines but you know we can assume that everything that's highlighted in green on the left has already been done so you know that's a really good really good indication of all the work that Breen's been doing and the rest of the team to to prepare seed gauge um and then when it comes to the actual colors that you see in that Gant um the colors themselves blue versus purple versus you know yellow or red or brown or whatever they're kind of arbitrary what I would want the group here to understand is that one of the things I want to C capture was level of confidence around how long a task would take uh that seems to be a question or something that comes up a lot in conversations you know in in Discord is you know there's there's tasks but sometimes there's question about like how confident are we that you know doing a certain thing will take a certain amount of time how do we know that you know doing their mediation related to the code Haw audit is going to take two weeks and so you know with with this system it gives us the ab ability to say well we're we're pretty confident that it's going to take about two weeks but we understand there's some potential risk in there you know if the if the remediations are a little bit more significant than we what we thought they would be or whatever um so that lighter color those lighter shades are to give the down understanding of level of certainty around what uh what particular task is going to take in terms of time um and then some other items kind of just around these slides um obviously you know under that title we've got a Target deployment date so we've got that for um the week of April 15th and you can see that in the chart the reason I mentioned that is that in some of the later slides it's going to show um there the uh are a couple items or a couple projects that the target deployment is beyond what we show in the chart so the chart will show you what's being worked on in the near term the target deployment date is what you know what we're looking at in terms of when the when that feature or that project's actually going to be going to be put into motion and and you know put into service so um I think that's it for the chart so um won't go through a whole ton of detail here but we mention that as I said before so we're into the code Hawk's audit um that's going to take about four weeks um for the SE gauge system and then we're anticipating about two weeks worth of remediation and then right at the end of that remediation process process that's when we're going to be finishing up the uh the bip itself and sharing that um with the near final Court the near final code in Discord and then we'll have the bip voting period uh hopefully the week of April 8th um Bri guy I don't know if there's anything in particular you'd want to add on to this very happy to uh if people noticed there was a a budget proposal not not the budget bip but a couple weeks ago um a beanock Farms budget proposal uh BFB to go up to uh spend the beans for this upcoming audit and in there I gave some context on uh the decision around that but just to talk about it for a second I think that you know our experience and the Dow's experience with these uh decentralized uh incentivized Security Programs like immuni where you know the white hats or the Auditors in question uh only get paid if they find a valid uh a valid vulnerability have proven to be very successful particularly in the couple of instances towards the end of last year where uh there were a lot of funds at risk uh and from a couple different vulnerabilities that were reported by uh immuni White hats and you know given that those were found even despite going through multiple private company audits uh you know if you consider last year for example the bay in code Arena it despite having been audited by by hbor and cyphon uh previously uh you know there were still plenty of issues uh issues found and so we're you know very fortunate to have gone through that process and paid the beans up front uh rather than you know had the vulnerabilities live especially in in a mut mutable protocol like Basin so this is all to say that uh part of the rationale for transitioning from uh we unclear if we're transitioning uh entirely from private company audits to these you know uh decentralized audit competitions uh but at least at the moment uh we want to run that experiment so that's what's going on now and then you know also written about in that snapshot proposal was uh an explanation of some of the things that needed to be changed from the existing gauge system uh where that version was audited in you know October November and had talked about it then and of course it's been many months since now uh since then but uh hoping to get this over the Finish line soon and just the other one other thing I wanted to mention which Rex's already highlighted but uh this you know REM remediations portion after the audit of course if there are any Val any valid findings that we want to change the code for uh that is going to take some amount of time uh between the end of the audit and the beginning of the vote so hard to really estimate uh exactly in terms of number of weeks how long that takes but uh we felt it was reasonable to estimate to throw a couple weeks up here but subject to change of course thanks Guy anything else one more quick thing while while we're while we're on the topic of uh immun ify and was just thinking about it as you mentioned the the last ebit but you know there have been a few different uh birs these uh proposals for the immuni committee to vote on Bounty payments uh in the last couple months uh I think there have been a couple that were 10,000 Bean bounties and one that was 50,000 I just wanted to point out that I think that uh you know it's a little bit of speculation but I imagine some of the attention that the bug Bounty program has gotten was probably a result result in part a result of that large uh 1.1 million Bean payment in November and given that it it does appear like there are more eyes on the program at the moment I think it's very uh exciting that uh not only a couple a couple more bugs have been found but that you know there's multiple people spending their time looking at all this beanock code and uh you know fingers crossed uh hasn't been anything extremely significant so for whatever that's worth uh feel like that's very exciting thanks Guy any other um I will I'll open it up momentarily to the floor any questions about seed gate while we're while we're on this slide uh nothing on this end I was gonna say in well in since I'm sharing my screen I've only got one screen today um if there's stuff up in like the Barnyard chat I'll need a little bit of help I'm not I guess I could set up my phone alongside but um if someone sees something in the barnyard chat just let me know and I'll I'll stop for a minute okay keep jumping then on to WTH migration okay so you know for uh for full transparency here wstETH Migration definitely did not know how to pronounce this until guy said it had a real Boomer moment when he said wi so wisth migration um so on track um that contract work is underway right now um so right now we're um we're we're in entering a period where we've got essentially a pause um while the um while the code Hawks group is working on um on CDH so for the moment the uh the development is essentially completed to the point where we're willing to to provide that code to um to cyphon for the Cod Hawks Auto comp competition waiting on the current competition to close out and then going to be able to go through the uh the code Hawks audit when that starts up around April 1st um two week period there and then kind of similar what we were talking about with seed gauge is going to be a period of remediation um as I understand it less code to audit potentially fewer remediations to have we'll see how it goes um right along with this though um and you'll see it down near the bottom of the the contract development items there's another interim period uh where multiflow uh v1.1 is going through its audit and Remediation period and really that's um kind of an important note to make here with multiflow that is the and that's in the next slide um these two projects they're they're separate items but they do um they do coincide in terms of uh their deployment so you know essentially looking to deploy both these items at the same time um so we going to see some coordination as as these items start to come together um but you then near the bottom again that those General and administrative items basically just getting the bip uh draft ready and then the bit voting period and then as you see near the top we're looking at the week of May 20th right now for Target deployment for or was Ste any questions on that before I jump down to multiflow or anything to add guy or braen I'm I'm getting I may be getting worried in my DMs that uh rap steth is better than wuss steth but uh rap Ste I'm fine with that you guys are just let me know what you want me to say and by G I'll say wrapped steeve you got it I like what Ste but you should feel free to call it whatever you like all right maybe just to summarize what this change is exactly uh for folks who haven't had a chance to read the uh related RFC this is mainly uh a couple things uh it's one wh listing a bean was uh well and you know related to that it'll have to be determined exactly how many gauge points it'll get versus the the previous Bean eth well uh and then secondarily uh you know or primarily if you prefer uh part of the bip is to migrate all of the unripe liquidity from the current Bean e well to this uh Bean wasth well along with uh you know other Associated work which you can read in these in these bullets related to you know oracle support for minting converts edv calculation in that well etc etc and uh I guess we'll talk about this on the next slide but uh proposal of this bip is also blocked on the new version of multiflow so guy you and I have been talking so much about like what this meeting is and and you know stuff for the actual you know the the deck and stuff that I haven't had time to ask a you know a couple random questions but just so that I understand so the white listing of this well I mean the the existing beneath well still stays in place correct this is this is essentially a second well in addition to I'm sorry can you repeat the question yeah um just so will the once this new well is whitelisted will the bean e well still remain in place just the liquidity will be moved exactly um but specifically only liquidity that's underlying unripe being e liquidity in the you know non unripe if you will beneath Silo will will remain okay yeah so so essentially if folks are still looking to have that more direct exposure then they could keep their liquidity or they can move it over and could you so you talked about the um the concept of rebasing versus not rebasing I've got to ask these you know probably kind of remedial questions but could you walk us through that idea that you know there's that there's an advantage to the the wi or wrapped steth well because of the rebasing process or not rebasing I mean if if I remember correctly uh steth non-wrapped steth uh is rebasing uh meaning that you know the supply expands and the number of tokens that people hold in their wallets uh increases whenever there's uh whenever that yield is distributed and WAP Ste is a just a wrapper around that rebasing token where the token amount doesn't change but the value of the token would fluctuate and the the long and the short of it I believe is that Wells don't support rebasing tokens catch oh uh piz man asked a question in the chat he said curious why this is blocked on the new multiflow pump um and yeah that that's exactly right the same the same bug that happened upon the initial beneath migration so at some point uh one thing that hasn't been written about the rfc's uh is uh potentially migrating the current Bean eth well uh to to a new Bean e well that uses U multiflow v1.1 because it's currently uh currently the old multiflow is attached to it uh with the existing issue that was surfaced in I think it was e 9 uh which I'm happy to talk about if people have questions as well so it's I mean it's it's not blocked you know explicitly but uh you know if if we were to deploy it without the new multiflow version it would create uh even more extra migration work that makes sense all right maybe that's a good transition let's go down to multiflow all right so multiflow um I mean guy you want to give a quick quick Multi Flow V1.1.0 description of this process because admittedly this is one that I read through and I thought I'm going to need somebody with a little bit more understanding to talk through it sure to maybe try to give the tldr on what this change is is um and of course would recommend that everyone reads the the multiflow RFC but uh the issue in Eep 9 uh as I recall it was that uh in multiflow the reserves uh have a Max uh are capped in terms of each block the reserves in in the pump can only change uh so much and so whenever the reserves on the pump change by orders of magnitude like it did in the migration where it went from hundreds of thousands to tens of millions uh that introduces a problem where uh the ratio between the two tokens and the pools uh doesn't change until you know it catches up uh several or many hours later and so uh I won't be able to talk uh eloquently at all as to how that is solved from a technical perspective but uh that's what is fixed in version 1.1 of multi flow and we thought it made the most sense to uh audit them separately given that they're part of separate protocols uh separately being the Ste with Ste migration versus multiflow uh version 1.1 so that uh I believe let's see that audit will start I think on the 22nd of April and probably last a week uh given that the amount of code change is is much less both the gauge system and the rap ceas migration uh and you know both of course both of those audits will need to finalize and then be remediated in order to propose that pip so yeah maybe maybe on the in the next meeting we can have some sort of way to either scroll forward on this chart or have multiple screenshots or something like that yep yeah and we will have we'll we'll be a couple weeks further out into the future anyway so we should be able to see see further down the road but um um all right so yeah appreciate the uh yeah that tldr yeah we're uh for multiflow um and you know as guy mentioned you know a little bit less um complicated at least compared to uh the seed gauge system and WRA Ste um so fewer T to be done um the the thing that I'll mention again is there's you know there's this interim period during the other scheduled audits for the code Hawks team um so just something for for this group to keep in mind that you know there's something of a stack in terms of Cipher's work or the code Hawks team's work um but I I think the last item that I would mention here and just to um to make sure that I'm right so guy this won't be this won't involve a bip this will be deployed will be deployed with the wrap Ste white listing just as as part of its bip or will it be deployed just without a bip at all uh good question so Basin is a separate Pro protocol and so uh these pumps will be deployed separately from beanock and in order to propose to uh use this pump as far as part as Bean stocks uh uh you know minting process Etc it'll need to be deployed before the bip is proposed and then included in the bip so got that'll be the order of operations okay so so this would be deployed and then the bip for w Ste would go up and include multiflow v1.1 exactly so every well has a has a pump attached to it uh and currently beanock for the Bean e well is reading data from multiflow V1 in order to determine uh Delta B among other things and so uh after after this Ste migration bip there will be two Wells Whit listed in The Silo one will be the bean e well with multiflow version one and the Bean with steth well with multiflow version 1.1 all right any questions from the group about wi or multiflow okay so to jump down to other projects and initiatives so really what we got here listed are basically just the the existing rfc's and um so right now you know we've only got the gants the three gants that were shown above I think is we get um especially now that the budget bip is passed and we're getting Dev spooled up to start working on some of these items with a little bit more you know consistent dedication I think we'll probably be in a spot where we can uh start to open up Gant for some of these other items um some you know depending on level of complexity may not you know may not need need a specific Gant but we'll um we'll look at each of them individually especially as really we really get underway um but as I look down through the list um obviously tractor is going to be a relatively large undertaking and there's been a lot of discussion in general about tractor and in and inside of its RFC as well Other Project and Initiatives um I guess um I guess there aren't any that I was going to specifically focus on though I I again I'll I hate to keep tossing it out to you guy I mean any any of these listed that you wan to want to talk through specifically sure I mean I figured we could start from the top and see if uh if Dead Man's around at a mic perhaps dead man you could talk about uh some of the things that you have worked on like these first three bullets and what you're currently working on in the form of the uh well deploy script and documentation yeah sure so first of all hello everyone nice talking to you guys finally so I have started on the implementation of the first three first three projects so the first one is the bdv decrease so the rational behind that is that uh pin stock measures the bdv of a deposit ASN as synchronously at the moment so what that means is that you deposit bins or any other white list asset in The Silo um and that locks you a BTV score let's say uh that only happens one time unless you convert it then updates your BTV right now it can only go up in number so with that update it will have the ability to decrease as well um another important note on that is that anyone can update everyone others pdv so that would be some interesting Dynamics there and now in terms of the F metadata uh that's essentially a migration right now the metadata is hosted on centralized Ser servers and are generated um are being generated like once an hour um with that that new implementation the metadata will be generated on chain as Dynamic svgs so anyone can quer that be more permissionless um and resistant uh next up we have the soil isance update that's to H update the soil to be the max of the the Delta B and from the instantaneous pump and the Delta p uh yeah if I'm not mistaken the Delta b as measured from the pump from the instantaneous reserves and the current Dela B of A given well uh that's in order to minimize the the debt issued by bin stock at any given season and not issue more debt that it needs to in order to return to Peg uh the implementation for these three rfcs are current is currently live on GitHub uh as I have linked to in the respected channels um we plan to bundle them up into a separate bip something like a miscellaneous upgrade beip and yeah uh in terms of the the well deployment script um I've been working on that as a side project for now I intended to you know use it has to lower to lower friction for users to deploy new wells to Basin but uh apparently it gained quite a bit of popularity so I'm planning to make it a bit more generalized uh to support uh to add the features for vanity addresses and um like a on like a registry of uh version of Bas and components so can anyone mix and mat components uh pumps well implementations well exchange functions Etc right now it's just a prototype but we shall see moving forward we plan to use it for the steti migration and uh for any other Wells moving forward so yeah that's an update for me amazing thanks for walking through that dead man um yeah as dead man mentioned the the current thinking is to propose uh to bundle a few of these you know sort of miscellaneous projects if you will together uh as a single bip not just for a proposal but it also makes uh Our Lives easier from the perspective of uh audit you know getting it audited Etc and so along with those three projects uh again this is just the current thing I at the moment but alongside bdv decrease for metadata and soil assuance would be to add uh two things to that bip the first being uh the new Bean ethell migration I mentioned earlier uh earlier I'd said how describ how after the wisth migration bip there will be two wells in The Silo the new Bean wisth well with uh version one 1.1 of multiflow and then the beath well with the old version and uh the hope would be to uh migrate that beath well using the old version of multiflow to the new one uh and then the fifth uh which is at the bottom here is uh one thing that uh we've been thinking about potentially uh not really you know decided up to this point and would be curious to hear uh Farmers input as usual but uh have generally been thinking that the in uh reward for chopping or you know reward maybe that's not the right word but the what what you get out of chopping uh is is uh extremely low at the moment I think the chop rate is something like 0.97% and uh just you know zooming out a little bit feels like you know beanock is in a relatively strong position from the perspective of you know it has sold 20% of the fertilizer at the moment uh it's been growing steadily over the last few months and you know it's more art than science really but uh the thinking is that uh it could be a little bit more aggressive uh in terms of what it gives to to Choppers so some ideas we've thrown around at the moment have been uh and for reference the current calculation is the percent recapitalized multiplied by the percent of debt repaid to fertilizer um I don't know what the percent of debt repaid to fertilizer off is off the top of my head but I believe the percent recapitalized uh or recapitalization is uh 0. 22 at the moment one idea uh we've been considering And discussing is changing it to the percent recapitalization squared uh what would that be right now 0. 22 squar would be 004 so 4.8% or something like that thank you Pizza Man uh quick on the draw so that is uh you know likely to have more impact from a economic perspective than a you know in terms of like magnitude of technical change so the thinking is uh uh to include that as part of the this uh miscellaneous upgrade pip and so at the moment um what we're thinking is spacing out each of these audits uh with a week in between we'll see how that plays out but assuming that schedule stays true then and hopefully those uh five projects could projects could audit it together uh towards the beginning of May so guy you had mentioned mentioned um early on in the meeting the um you know the advantage of using groups like like cod Hawks uh as opposed to a you know centralized auditor um do you think that there's some consideration about maybe potentially spreading out some of the audit work um to to lessen the impact of having to wait on teams well code Hawks the Auditors are not necessarily A Team uh and no one has to audit beanock in that case you know it's like there's just people in the code Hawks Community who decide on a Case by case basis whether they have the uh you know time and and willingness to uh audit bean stock during that time you know based on you know an infinite number of factors including the size of the prize pool and how much they uh stand to gain of course got um so the thinking is that while in theory we could certainly overlap some of these if if you know development has sufficiently wrapped up but uh uh you know based on guidance from cyphon uh cyphon being uh the team who runs cawks uh like operationally they're not necessarily the ones uh auditing the beanock code in this case again it's the like a decentralized set of of white hats but the thinking that is is that if we were to do overlap uh some of them that would sort of split attention unnecessarily so that's the that's the long and the short of it no that's fair yeah it's just it's something that I was that ran through my mind as we were we were looking at schedules so and and even if we were to do something like schedule one on code Arena and one on code Hawks at the same time I I my suspicion is that a lot of these people participate in both oh that's that's fair that's a really good point not something that I considered because yeah that that makes sense that they may may be you know kind of drawing from the same talent pool that's yeah like if if there were another protocol running a competition with twice twice the size of the prize pool at the same time that would not not necessarily be uh you know great from our perspective do uh do do we have insight as we talk with groups like cphon about exactly that you know do they like if if you guys talk with cyphon and say Hey you know we want to schedule such and such an audit is there an ability to say hey let's plant it around this other thing that's happening because you know there's this other aut competition that's happening that could potentially draw Talent away is is there some some ability to totally I mean part of the reason we want to experiment with code Hawks is because of our pre-existing relationship with cyphon no doubt yep so they've been uh very helpful on that front Okay um qu quasi Matt asked uh the sorry the proposal was to percent recapitalize squared uh not quite sure I follow that part but he says like remove debt repay defer entirely uh yes po EV uh based on the example I proposed all right any other questions I mean the last slide was just basically opening up the floor um questions thoughts from the from the group maybe we have a you know couple of the devs who are working on some of the other projects on that list I don't know if uh you know maybe pizza man or funer are around and Adam Mike and want to talk about of the you know status if you will of gen convert and tractor and what's being worked on at the moment you know General sense of uh maybe timelines perhaps yeah I can speak to tractor a bit um the most of the the contract stuff is Tractor done and the the general system of trctor is implemented and ready for internal review and it um but I think that's pretty low down on the AIT Q priority list and then it's going to be expanded with an SDK which is something I'll be working on in March and expect to get done in a decent bit of time uh I mean shouldn't be too crazy of a timeline on that DK uh I think that ultimately the the biggest delay will be how long it takes to get audited and secure once that's ready and implemented the SD should be ready and hopefully you can update the UI and things can get running pretty quickly funder I'm gonna reach out to you probably reach out to you at some point to to talk about a Gant too I know you got a lot of stuff going on but I may try to get on your schedule awesome I can talk about a general convert here for a bit um so yeah funer already laid out a lot of the Gen Convert foundation for the pipeline interaction with beanock so part of the cool you know sauce with General convert is that you can pass in a pipeline call so pipeline is the thing that allows you to basically call any set of functions anywhere within Def and the idea being you know for example let's say you wanted to convert between the uh be eth well and convert into pure Bean so when you pull out your your bean eth you know half of that of your deposit is eth and let's say you wanted to take this eth and do some you know D5 magic into in order to turn it into like more Bean than you would have otherwise so for example let's say you took your your eth and you created it like to usdt then you took your usdt and you converted that uh you know somewhere else and eventually you get back into bean and then all of that is returned back to beanock and you end up uh hopefully with a greater bdv than you originally had bdv meaning Bean denominated value so you you input more than you originally started with on that convert uh and so that requires you know this functionality of being able to pass this series of piplan calls in addition to like being able to copy and paste data as a result of these calls into the subsequent calls uh so that you can take the full amount from your trades and pass them to your future trades basically uh in order to you know have the the full benefit and functionality of this and so funer already actually did like 90% of the work um on that and so I'm just kind of GL putting all that together as a bit of glue uh into this new convert function um and then the the second kind of half of that that I'll be working on too once I get the uh you know some good tests working with this um pipeline convert functionality will be actually implementing the the stock bonus and the excuse me the stock penalty if you convert uh Beyond Peg or in a way that is actually you know benefiting the Peg and so initially we're actually going to probably split this up into two parts like two separate bips so the first bip will include this uh Farm like pipeline call functionality in addition to the um like the penalty if you convert Beyond Peg and then the second bip will actually because the the idea is that the stock bonus uh for a convert is based on whoever had like whatever deposit that you're converting to of that Silo asset type has the least amount of grown stock uh the idea being if you convert to that asset type then you will get a bonus of that amount of grown stock that that most recent Silo deposit has um and so in order to know that we have to be able to look up all of The Silo deposits on chain which is currently not implemented like you can only uh read a deposit if you already know basically what the stem is which is like kind of like the deposit time uh and the depositor so there's no like list that stored on chain because that would require updating this list uh for every single Silo interaction which would take more gas unfortunately um but might be a reasonable amount so anyway uh for that reason you know the idea being that seed gauge will be more more effective if there's some version of generalized convert uh that is implemented sooner and then the the details about the bonus and the penalty can be like a phase two for that um so as far as timeline I mean it's hard to say um I'm kind of just getting started you know with with beanock here full-time uh thanks to the budget getting passed so as I ramp up I should have a better estimate into timelines thank thank you pizza man appreciate that and I'll be bugging you too I'm sure over the next few weeks once you get settled in exact all right so we hit almost all the items on this slide so you know there's secure bean stock The Blacklist uh mitigation generalized flood and then hyper native um guy you want to hit on any of those before we open the floor up sure I mean just to tie real quick on what pizza man and funer were saying and uh you know I think both of them have been you know chugging along with uh gen convert and tractor respectively over the last couple months but uh as pizza man said you know now that beanock farms uh does have more one Runway I think it uh hoping and expecting things uh speed up a fair amount uh which is very exciting uh given that they'll both be able to work on beanock in a more comp committed capacity thanks to thanks to the budget which is very exciting um let's see uh do you have anything you want to say about secure bean stock yeah just to give a high level overview of what secure bean stock is Secure Beanstalk you know secure bean stock just adds additional security to interactions of bean and any erc20 into bean stock itself you know as we're growing and as we uh evolve you know it does seem like security should be the most important thing that being such focus on as for the implementation you know we're still on the design phase of what does what does it really mean to secure bean stock currently one of the problems or one of the things about bean stock is that you know it's a teral state relative to beanock is little is uh unknown so for example beanock doesn't know which Silo portion of a Bean is in know bean stock so for example a bean could be an earn Bean a bean can be a harvestable bean a bean in The Silo you know it's all in this one uh beanock contract and it's really hard to know what goes where so you know part of the secure bean stock is you know creating this system where Bean stocks able to know where every part goes and you know creating these invariants or conditionals to ensure that every being is in the right place in addition you know any interactions with the silo or any interaction with beanock Bean you know correctly updates these states and updates the whole uh State space up bean stock thanks B and for what it's worth I think uh uh perhaps doesn't particularly apply in the case of the uh governance exploit a couple years ago although that was fixed by not having governance uh at least as a short ter fix but uh in the case of secure beanock uh I think that there were multiple eips that would have not been necessary uh essentially or or at least at the very least would not have had funds at risk due to the vulnerability uh once we have that in place if it wasn't clear what the inspiration was um uh these next two uh don't think really anyone has thought much about Blacklist mitigation or generalized flood since those uh State space uh calls and discussions uh think that the the devs are booked the moment um the the the last thing here is the hyper native Hypernative which I don't think we've talked about for a while um gal the CEO of hyper native gave a presentation to the Dow at one of these Dow meetings maybe maybe 10 months ago now or something like that and their product has uh improved a lot and gotten a lot more flexible and to summarize what working with Hyper native would entail is that they uh offer software that uh has caught you know monitors uh all the activity on mainnet and as detected uh something like over 98% uh of the exploits that have happened on chain on mainnet over 2 minutes uh before they were executed because typically there's some Mal malicious contract is that is deployed before before an attack is executed and uh I don't quite remember the stats on uh the ones that they've caught in less than two minutes but the point is that you know in Beano's current state where there is uh it is guarded by a multisig uh with people who have to uh sign transactions you know it's not realistic for uh the beanock community multisig to to respond to uh something ENT within uh 2 minutes or 5 minutes or something like that but with Hyper native uh it could potentially and so the idea is that uh using hyper native software that has detected uh these exploits uh with very high efficacy and uh few uh false negatives or false positives for that matter um that upon detection uh all the functions on beanock uh would be removed uh cuz you know related to SEC secure Bean stock it's it's those functions that change state in bean stock that uh when implemented improperly have the potential to uh have funds be uh be vulnerable essentially so the current thinking is that by working with them uh and using their software that detects these exploits uh it can programmatically uh remove uh functions from beanock to protect it so you know hopefully hopefully it's uh kind of clear there's a a theme Here among uh working with Hyper native working on secure beanock uh you know scheduling these these audit competitions uh it's certainly top of Mind AG green appreciate it guy thank you um all right well so that's all we got for the slid are there any other questions thoughts anything else from the group you want to talk about well this was good I appreciate everybody's time uh looks like we're just short of an hour are you able to pull up the the Barnyard chat Tyler B has a question oh yeah hey give me a second here do it um my I'm happy to read it not yeah you could probably do it faster than oh I got it okay Tyler B so uh Tyler B says a Will Beanstalk Farms be willing to hire someone for a BD role? non-dev question would beanock Farms consider hiring someone to drive Business Development build relationships with other D5 projects to increase more exposure to Bean to enhance or um increase more exposure to Bean to enhance its usability or does beanock Farms believe that focusing solely on development work is sufficient to attract more projects and people interested in being well I'm happy to give an answer and go and then maybe it would be interesting to hear what you have to say Rex but uh you know I'm not being stck Farms I'm guy but uh from from my perspective that's not something I expect to be spending uh much of my time thinking about uh but you know as as was demonstrated in Rex proposal to be on the BFC there is a process for uh you know getting into a position on the BFC that that can hire people uh and have discussion over the budget and if that's something that you know someone here or someone listening later in the recording feels particularly passionate about would encourage them to you know talk to me reach out to me have to talk about it uh you know write a proposal to do so etc etc and I would say um when I think about this this idea of you know BISD in general um I mean it's been something we've been talking about for years now and you know Beano has made a couple attempts to work with different groups to do you know marketing your business development and there have been internal folks that have you know that have worked in in those areas as well and I would say probably with with mixed results and um I guess the the first thought that I have is beanock itself is and you know any just like guy was speaking on behalf of guy I'm I'm Rex speaking on behalf of Rex when I look at beanock when I think about beanock I think of it as more of an economy rather than a product and so you know it's it's not necessarily easy to create marketing around you know building a you know something like an economy um but as we continue to evolve I mean what what goes through my mind about things like the increasing number of wells in the Basin system I think that is that is something that is much more like product oriented you can you can reach out to individuals or to other defi groups and say hey we've got this platform that could potentially benefit you either as an individual user or as a partner program and that puts us in a position to where we could start to have really um really good discussions you know outside of you know native Farmers or or folks that are you know coming or learning about the protocol kind of you know through word of mouth or natively um so you know it seems like we're just now getting to that point where we can start to look outside and say hey we've got some some products that are really good to to Market let's start talking about business development let's start talking about you know marketing to to external users so that's I guess that's what goes through my mind is we're just kind of getting there I mean I don't know if anybody has any additional thoughts or and definitely feel free to correct me if there's something I'm not not getting right to like fault just said it if you want things to move on the bis side make a proposal let's see him all right any other questions comments thoughts from the group Whitelisting other Wells I guess couple of the things I'll say is uh you know on the note of whitelisting other Wells uh I guess it is kind of hidden uh a little bit under the The Blacklist mitigation R up and perhaps it deserves it deserves its own but part of that RFC is to implement uh stable swap well function and I think at some point it definitely makes sense to have uh other well function available for anyone to to use and so they don't need to develop an audit themselves uh you know including things like you know a constant product well function with a fee a stable swap well function with a fee Etc um but personally especially once The Blacklist mitigation stuff is up I think it'd be very cool to have uh whitelisted Wells for you know things like Bean usdc tether wrapped Bitcoin uh Etc appreciate that guy and that that is that is what constantly goes through my mind as we talk about um you know what are what are we doing using the you know Royal wi or however you want to frame it you know to help grow the protocol recapitalize or you know whoever is asking that question and whatever point of reference they're asking from you know that the the Basin platform is you know really as it grows in functionality it's going to be a really um really interesting thing to be able to talk to other groups about and you know potentially really make some magic another thing I wanted to add just because uh so King isn't here to talk about it himself but um you know a lot Dune Dashboard of longtime farmers will know we used to have uh that Dune dashboard uh a couple years ago which was awesome and could answer a ridiculous number of questions that any Cur ious person uh would have about the state of beanock the history of beanock Etc and uh soil King has been picking that project back up uh and working a lot on a lot of the infrastructure over the last couple weeks uh hopefully at some point in the near future a lot of the queries from the old dun dashboard can just be cloned onto the new one and uh we'll be in a position to easily respond to you know feedback and uh suggestions people have to to add new data so personally very very excited to see that in place and related uh he he Sook King is also one of uh another contributor who has been helping out uh as they've been able to in a part-time capacity uh more recently but we'll be able to spend more serious time working on beanock thanks to the budget uh which is great and uh yeah there's some some good content in the Discord earlier of uh and putting in his two weeks which I I think is why he he is not able to make the meeting today he has a job current employer probably just ringing that last two weeks dry um so it's interesting you mentioned Dune I uh I've had the Closing statements thought as we've been chatting about it you know what what to do with this meeting and how to continue to improve it I think there'll probably be some incorporation of you know probably just a handful of metrics um you know that the group might find relevant to to see updated every other week you know be talked about in in Dow meetings probably not not a whole lot of stuff I don't want to you know have a deluge but you know it's probably something that that'll be included here as well as we move forward um and with that um I'm definitely willing to take feedback about you know this meeting or about the slide deck that's sent out um you know I'm thinking that that deck will probably be refreshed every other week um and then we'll plan to talk once a month the the uh I think i' mentioned in general that obviously it's the last day of February um we've got a requirement to do a meeting once a month and so to I i' I'd like to get this shifted to where it's happening the first week of every month so to do that I'm gonna probably do one in two weeks um to to hit the March requirement and then April we'll try to get on the in the first week of the month um I think I might probably shift to Tuesday um but still open to talk about times um you know was even just talking about that in general before we ho on here uh definitely willing to to be flexible there um but yeah if you if anybody here has any questions or thoughts or or comments about how to improve this meeting or the information that's provided don't hesitate to let me know I'm I'm always willing to take feedback and to to try to improve things so all right we're two minutes over um we will uh cut everybody loose and thank you for your time and we'll see you around around the farm thanks everybody thanks for putting this together X of course my