• Recordings
• Meeting Notes
• Big Items Up Front
• Beanstalk Project funnel
• wstETH Migration
• Multi Flow V1.1.0
• Misc. Improvements
• Beanstalk 3
• Discussion around marketing
• Deck
• Transcript

Recordings

Meeting Notes

Big Items Up Front

• wstETH/ multi flow v1.1.0 and Misc. improvements package will be shared for pre-BIP discussion soon.
• Beanstalk 3 is currently in its judging phase with Codehawks

Beanstalk Project funnel

• Some above-the-funnel items have been changed such as unripe exit auction ("pruning"), Pod burning mechanism ("Compost").

wstETH Migration

• The BIP draft should be shared sometime this week. Rex is looking forward to seeing what going to be there. Rex is not aware of any major concerns that came from the Codehawks audit

Multi Flow V1.1.0

• Multi Flow V1.1.0 is in a similar status as wstETH migration. V1.1.0 will be available to the public and anyone will be able to create a new Well using Multi Flow V1.1.0

Misc. Improvements

• Misc. improvements is getting ready for a BIP vote in the next couple of weeks. A BIP draft will be shared in the discord soon.

Beanstalk 3

• Beanstalk 3 has a lot of various updates within it, and has been discussed in previous DAO meetings. A Codehawks audit is underway, and many good discussions are happening with auditors. Currently, there have been no major concerns from the Codehawks team.
• The timeline has been pulled in a week from the previous DAO meeting.

Discussion around marketing

• Rex mentions there is a ton of really cool things go on around Beanstalk currently. The team is currently most concerned about how to make Beanstalk as good as possible. Rex thinks with the upcoming updates there is a lot of opportunity to potentially attract new participants.
• Beanstalk Farms is not delaying marketing until the product is "done". Beanstalk Farm's approach to marketing is very tough. The goal is to stay far away from schilling Bean, and rather Rex encourages DAO members to get the word out. Currently, the team's main goal is to make the product as good as possible.
• Eromirou mentions that everyone has their stablecoin and wonders how Beanstalk can be in a position similar to these other stablecoins. Rex mentions that in his eyes Beanstalk is not a product but rather an economy. This makes marketing a different situation.

Deck

Transcript

okay so uh welcome to this week's beans

oown meeting obviously light crowd so uh

should be relatively quick to work

through stuff um as always if anybody

has any questions feel free to let me

know um I'll uh kick off and run through

the slides quick so big items up front

Big items up front

so we've got WAP Ste multiflow version

1.1 and the miscellaneous improvements

package um they started their pre-ip or

they will be starting their pre bip

discussion soon beanock 3 is currently

in its judging phase with to Hawks any

questions there and I just found that

typo that keeps reappearing I'll

republish the uh the deck as soon as

we're done all right so for projects and

Beanstalk Project funnel

initiatives um not a whole lot of big

changes uh we've got um some items that

I've updated up top uh that are above

the funnel so um just looking through

some of the beanock ideas um in that

channel on Discord uh added unripe exit

auctions um so the pruning concept pod

burning mechanism also called compost

we've had fungible pods uh on the list

for a while down at the top of the

funnel there's been continued discussion

around debt restructuring and then

bottom of the funnel um things that are

you know just on the edge of active

development um in heavy conversations

still are the unrip stock burn Basin

stable swap Blacklist mitigation and L2

migration any questions there okay we'll

wstETH migration

jump down into the into the schedule so

as I mentioned uh in the big items up

front slide um we've got WAP Ste uh

migration so um now in the week of July

8th we are you know ready for that draft

bit to be shared with near final code

and that's probably going to be

happening sometime this week um looking

forward to seeing what's going to be

there um got really good

feedback uh from the Cod Hawks team

during the Cod Hawks competition so not

any major concerns that I'm aware of at

this point from a technical standpoint

and and I think everybody's pretty

familiar with with the WRA steth

approaching concept so um no need to

necessarily rehash a lot here but we'll

take any questions if anyone has any

okay multiflow version 1.1 um so kind of

Multi Flow V1.1.0

a similar um similar situation here we

already know what's going on it's going

to be part of uh the WAP steep migration

um really the implementation of that WAP

steeve well um so that will have

multiflow version 1.1 uh that pump um as

part of its implementation uh the other

nice thing is that we'll make version

1.1 available for any other pump or for

any other well implementation that folks

are looking at um CB and I just had this

conversation here a few days ago about

um you know likely to see uh quite a few

of the current Wells

potentially uh see

essentially let's say sister Wells that

have similar asset pairings but have the

updated pump um so looking forward to

seeing that again willing to take any

questions but I think we're we're pretty

well lined up on what's what's going on

with version 1.1 all right miscellaneous

improvements so again we're uh similar

Misc. Improvements

to the WAP teeth migration um kind of

the point where everything is squared

away from a codaw standpoint and ready

to share some final information about

that bip and get it ready for uh ready

for vote coming up here over the next

couple weeks and then beanock 3 um you

Beanstalk 3

know obviously a lot of stuff included

in this and we've had we've gone over an

explanation for what's going on handful

of times not really much new to share

here they are um in the judging phase

for the code Hawks audit um so that has

been going well and there's been a lot

of really good discussion um a lot of

questions being asked um from the code

Hawks team um again nothing that seems

to

uh seems to me as being issue or problem

but lots of questions being asked and

lots of good conversation um through

that audit competition um again looking

forward to actually that that schedule

has been pulled in so um there was the

last down meeting we had that stretched

out was actually um pushing into early

September um but talking with guy and uh

looking at some of the information looks

like we pulled that back in into mid

August so excited to see that come back

in a couple weeks again willing to take

any questions on on beanock 3 as well Ed

romiro I see you typing there is a lot

Discussion around marketing

of work being done and um the team is

very talented and um yeah there's

there's a lot of work um as for you know

getting um you know getting traction and

and getting I don't know if publicity is

the right word to use or or however you

want to put it um I think a lot of that

uh comes back to the idea of you know

what exactly should the message be what

is the right way to you know talk about

being stock in the public forum and I I

think the the main concern the team has

right now is just building a really good

a really good ecosystem really good you

know set of tech and um you know hoping

that as those new features and functions

as those new opportunities continue to

roll out hopefully you know there's um

there's Market opportunity that comes

along with that you know we've been

watching the price of eth kind of be all

over the place and um you know obviously

that's that's tough for the defi space

in general yeah I uh what what goes

through my mind a lot is you know as we

get multiflow 1.1 in place we get a lot

of these you know these new sister Wells

uh spun up for these uh these existing

pairs that we've had on Basin and then

um as white listing starts to happen you

know there's a lot of opportunity to

potentially attract new participants so

we'll see how it goes uh so to answer

your second question are we delaying

marketing until the product is done um

uh

no uh the the approach to um the

approach to marketing is is not an easy

one um we're trying to avoid uh you know

this idea of being you know shilly or um

not careful with how we talk about you

know being stock in public spaces so

that creates something of a challenge I

think there's also a lot of opportunity

just for the community to get involved

in those discussions and in getting the

word out so

[Music]

um yeah I I think for now I mean that

you know the team's primary goal is to

make sure the product is really good and

hopefully good enough to where there can

be a lot of organic

discussion that that avoids some of the

uh some of the difficulties that come

with more formalized marketing

especially in in the crypto space sorry

do you mind if I turn to the mic yeah no

go ahead thanks um yeah I was just I was

just wondering because it's uh it's a

bit weird to see such little traction on

such a good project I mean I'm a

developer as well I know I I've seen the

the code base it's really really good

and I know the the talent behind the the

code is I know they're awesome I I can

judge that for myself and I've seen

pretty much everyone everyone has their

own stable coin right pretty much any

other project out there I mean there's I

don't know how many stable coins I I

keep discovering new ones every day and

they're all pretty much the same forks

from I don't know

liquidy um usct well you know die

whatever but I mean and they they they

do

uh really how should I say this

Gorilla Marketing will and U they they

do get quite a lot of traction I mean

there's very odd projects getting

Millions upon millions of dollars or

into them and being be stock being such

a good project with such a such a

different approach to the stable comp

problem it's barely getting noticed by

anyone other than

the ones already in it right I don't

know it's just not really a question

just boring my I think no I think it's a

I think it's a fair observation the way

that I have you know put it before is

and this is speaking strictly for myself

of course um you know when I think of

bean stock I think of I think of an

economy you know and and the there's a

difference between and you know the

projects you're referring to that seem

to be popping up every day

it seems like a lot of times those

projects are marketed as a

product um you know it's hey I've got

this new you know product I want to tell

you about and if you invest in it then

you're gonna make a whole bunch of money

you're or or you know they're those

teams are are framing that token as a

product and I would say that you know

from where I sit I see beanock as as an

economy and it's it's a different

approach or different different you

can't really Market an economy it's it's

a different scenario and I understand

what you're saying though you know I

want to be perfectly clear that you know

I I get what you're saying and you know

I I would love for beanock to get a lot

of really good attention and I guess

what I'll say too again from personal

observation is you know having seen some

of the cycles that bean talk has gone

through it doesn't take much when the

pieces start to come together you know

when when price is above one and you

know the protocols is in print it

doesn't take a whole lot to start to see

folks take notice again and so you know

I obviously you know we're in a place

where eth isn't in a in a in a great

spot for Price the bean prices you know

has been has been below Peg for a little

while and you know it's hard to it's

hard to get a lot of you know organic

traction or you know gorilla um you know

conversations or marketing or however

you want to frame it but you know when

when I look at the project I think of

something really solid being built and

when those conditions line up I I think

it'll be surprising how good the

feedback in the you know in the

conversations will become but you know

the most important thing is making sure

that making sure that the project is is

really excellent is really top tier and

it's not just some random you know

stable coin that's you know like you

said a fork of liquidy or usdt or usdc

or whatever you know trying to trying to

make the protocol as good as possible

and then letting letting the

conversations take care of themselves if

that makes sense yeah it does make sense

but um um again it's just it needs a it

needs someone to Kickstart that

conversation right I mean the product is

already aw it's already it would never

be perfect but it's know right now it's

as close as it can get keep getting

closer to getting as good as can get

sorry for the words lot there no no but

I mean I mean it's already to my at

least to to my judge it's already better

than anything that's out there I don't

know why I don't know it's just just

buffles me why people don't pay pay more

attention to it why it's been so

undervalued at the moment I mean I mean

I don't care about Peg right now I mean

it's uh it would only take um I don't

know not too much money as you said it's

it's we're very close to Peg and

only I don't know just a handful of

people talking about it will get us

there and I don't know I don't know how

many I don't know what price of e we

need right now to to get to Peg without

any activity on behalf of the farmers

um on behalf I mean coming from dep

department but it's just it just

baffles more attention to I I think that

is perfectly fair and um you know I

think about some of the the cycles that

beanock has been through um you know

that when the the first major there

there were a handful of you know upswing

Cycles U you know however you want to

frame it and like the I the the the

chatter was fantastic FC and then again

leading right up to the exploit I mean

there was so much

good um you know just positive feedback

and conversation I you know I again

speaking personally I'm I'm very

confident that because of the quality of

the project those conversations will

happen again you know I and I I again I

completely understand what you're saying

completely agree I wish there was a you

know an easy an easy button to get that

chat are going again but I I think it'll

happen it the biggest thing in my mind

is just making sure that that the

protocol is is really ready I there we

go thanks for mentioning that you lost

me because I did not know anyway yeah

yeah in my mind it's all about making

sure the that as many functions features

are ready to go and that the protocols

as solid as possible and and after that

you know relying on the community and

and other to to make that chatter happen

so um so I didn't have any other I mean

Closing statements

I've got the rest of the deck but after

being stock 3 it's just um it's the uh

the request for updates from like the UI

folks or from subgraph and um I don't

see anybody on that uh from those groups

on this call so I guess I mean I can

open up for U for any other questions

and otherwise you can cut folks loose

for what it's worth I may actually

schedule another one of these here in a

week or so off schedule because uh um I

do want to make sure that we have a

chance to you know to hear from the from

the dev team as well and yeah it just

looks like we didn't didn't get anybody

at this at this period all right well

thanks everybody for joining um yeah

aded riro good to have you um and yeah

we will uh I think we'll we may schedule

one kind of off cycle yeah maybe for

next week all right thanks everybody

we'll cut you loose you too have a good

day

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