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Recordings

Meeting Notes

Transcript

So. So first thing I want to start off on social. So the first thing is a commentary off the A, I think that was a good opportunity and we missed that and that's on us. And so, you know, I think that post was like a lot of the things that we talk about and do, and we were pretty upset with ourselves that we missed that because we think that was a good comment up to be more timely. And I think, you know, after our discussion last week, it's something that we want to make more efforts to be more proactive about. Is is commenting and and kind of shoving ourselves in the conversations. So so it's so, so not where it went. So we kind of went through it. We had a little huddle and we tried to figure out how do we mitigate this from happening. And so, you know, our our current fixes for it are, you know, adding our personal accounts into the Twitter group because most of the things that we're doing on type fully. So we're not seeing a lot of the DMS that are happening consistently. So if our personal accounts are in there, then we're definitely more conscious of things that the community is bringing up. So I think that's going to fix that for the most part. I think we still want to continue to focus on replies and I think we're kind of in a better system. And then the other thing is that, you know, one of the things that's actually beneficial for us is that we have different time zones. So Madison, who's kind of been working on the day to day socials mostly she's in Australia and then, you know, Joey, Rob and I are over here in the States, so that gives us pretty good coverage over time so we can be a little bit better about be more timely. So I think it was totally fair and it's something that like we definitely messed up on and we definitely don't want to miss like good comment ops again. So we're definitely taking the steps in order to fix those things is the first thing that we wanted to hit. Second thing, Okay. And I think this part, I would love for this to be a little bit of collaborative discussion. So we've been thinking, okay, so one of the things that we do quite a bit of is we try to put ourselves in the shoes of users and put ourselves in the shoes of the types of people that we're trying to bring into the ecosystem. Right? So, you know, take, you know, taking ourselves out of, hey, we're on the B team and putting ourselves into the Hey, we're just your average crypto, Jen, and we're always looking for like new cool opportunities. So when we did that exercise of, you know, like, you know, me, Joey and Rob kind of putting ourselves in the shoes of, you know, back in our regular digital shoes as if we weren't involved with being stuck at all. And if we were to see the threads that are happening on being farmers or some of the updates happening on the The Beanstalk Farms account, you know, we're trying to think about how that would resonate with us as like your average Jen and the place that we came after that is that, you know, the educational content is great and incredibly necessary and obviously nothing that we plan to give up. You know, it's something that we definitely plan to double down on. But, you know, like when like we discussed when we had been brought in originally is like not only is there like a general governance apathy, but you know, there's kind of a general like, you know, potential like overlooking of like and kind of a an association of beanstalk with the hack too much. And so we think that there's a lot of people that just kind of see it and write it off and maybe aren't as aware about all the steps that are being taken in order to like improve the project and recapitalize the project. Right. So if you're just if you put yourself in an average user shoes and then you see, okay, there's like this decentralized algo stablecoin. Okay, interesting. I think like, you know, the average user is going to be like, okay, opposed post this usdc peg. There's probably an important use case for it. And then they look into the project and then they see, okay, well it's kind of been on the steady downtrend and it's at like $0.90. So like that user, that incremental user is how we kind of identified them as most of those users aren't probably going to get excited about investing in a stablecoin that's in a slowed downtrend, even if that might be offset by the benefits of depositing those beans in the silo and receiving seed in stock. So we're trying to think about how do we move the needle with that incremental user base, How do we get that person who's tangentially understanding of the protocol or at least understands the general concept or maybe as broad of the concept as guesses? And just like algo stablecoin at absolute top, how do we get that person to kind of reshape the way they're thinking about the protocol and kind of change their current mindset and thought process into seeing the bigger picture about what's happening here? And the idea that we came with is that we need something a little bit bigger and splashier in terms of marketing rather than just like educational threads that might move the needle a little bit but might not be moving the needle for that incremental user. So how can we kind of pop and get in front of that incremental users face and convince them that everything that we're working on here is that there's a future payoff, right? That they're not just investing in this stablecoin that's kind of in this downward slope, but that this is an investment to make. And I think like the, you know, this idea that, you know, there's like this like kind of moral reason that we should be investing in this experiment is great. That's not going to get the incremental user excited. What's going to get them excited is that they see where we are, but they can see where we're going. So all of that to say that we think that we need to run a really strong campaign specifically around trying to grab that incremental user. So I want to I want to frame our thought process so that I can get into the how we're going to do this. So I think like and also open to kind of hearing everybody else's thoughts about this kind of framing. And if they agree that like maybe that incremental that next user is going to be a part of the protocol, are they like is that just the educational content going to push them or do we need something big and splashy in order to pull them back in? So we think that something splashy is needed and something kind of larger and cohesive. And so that's why we're we're thinking about, you know, so we're doing our kind of content planning for the month of May. And that's where we think where we have this one month spot in between, you know, like, you know, kind of May-June when Wells is kind of theoretically kind of May, June, July, when Wells is theoretically going to come out. And now that we've kind of kicked off where we have this month of May and we think that we should use this month of May to create like a really big, splashy campaign. And so what we're thinking and this is just like what we thought, rudimentary as kind of that these like kind of based on this campaign is something like being back better. You know, we're not like sold on this name. We obviously want to like, run it by, you know, the community guy pubes and kind of get the buy in on this. The idea is we want to run a campaign about what's happened and more importantly, where we're going right. And so if we want to think about that incrementally and so this entire campaign is circled around getting that that incremental user or those group of incremental users to get re excited about the protocol and what's happening and how do we get people excited about what's happening with the protocol and make it look to them like it's worth investing and putting their money in the ecosystem, holding, being, depositing in the silo? How do we do that? We show them what's coming down. The roadmap. So like this entire long kind of monologue is essentially for us to say that we think that we should do a kind of splashy being back better campaign that's more focused on articulating the roadmap over the next three, six, nine months, essentially through the end of the year to get people excited about, okay, been is here, it's back. We are the only protocol that's been able to go through and exploit and build the entire community back better and stronger and we're doing that through this series of things, a series of things that we've been working on and this roadmap that we're going to continue to implement in order to get people excited about what's coming and draw in that incremental user. So I want to pause right there. If anyone has any like thoughts or questions or, you know, I want to kind of debate this out and kind of get some guys take on this so that we can like kind of come together to get to the right answer. And if you have any thoughts, guy, I'm not sure I do. Honestly. Like, do you kind of agree that this is kind of a route that we need to go, or is it like, are you just kind of like processing it for the most part? I think I've followed most of the theory. I guess it's not not clear to me what it means to implement this. So, okay, so what implementation looks like is a cohesive strategy between that pulls in all of content, social and PR in order to implement. So so like nothing extra is needed on you guys As far as implementation, we just want to run the strategy and the thought process behind through you guys just so that you know, if where if you guys think that this is kind of the right way to think about it, or if you guys think like, hey, this is in kind of how we think we should get to this end goal, if there's like a different way you guys are thinking about it. So what this would look like is, you know, probably a big, larger campaign of and a larger kind of call it like a content sprint about what the road map looks like. We would think of something like a a bienstock manifesto. So I'll shoot you guys. An example of something that we worked on with another project, if you guys are familiar with, of Moz, I'll drop this in the chat. I think they did this very well just in their Skype chat. So I think they I think this is a good case study for some of the things where it's like an utmost kind of has. This issue too is like this general apathy around like this cosmos most and they're kind of getting eaten by some of the other guys in this kind of cross-chain space, like an accelerant, things like that. And so what they did that I think went very well and they were able to get a lot of press and attention over is they were like, hey, this is like, this is what we're doing here, right? So first you want to establish big picture framing of like, this is what we're doing here and why. Okay. And then and so, you know, for us, this would be something more like, hey, this is, you know, the issues that are happening in the world. This is why, you know, Beanstalk is very important and then go into a very cohesive roadmap about, hey, yes, we understand we're a $0.90, but these are all the things that are happening in order for us to get to this end goal, this end state of why we're putting all this work into this ecosystem. So, you know, not that we would need anything from you guys, but more so about, hey, we're going to do more roadmap content and then we're going to put it into a large beanstalk manifesto and then we're going to push it and we're going to push it in PR, we're going to throw it all over social and we're going to try to do one like a bigger campaign. You know, we can do a little bit of like teasing about like, oh, like we have something really big coming. We've got a really big announcement, right? Getting people excited about, oh, there's something coming. We're going to announce something and then boom, come up with this big like manifesto type campaign where it's like, Hey, here's this large seminal piece about what's happening. We're going to break it down and all these threads and things like that about all these new upgrades that are coming. And then kind of giving that to the community and everybody and people so that we can find that incremental users, they'll see this content, they'll get excited by it, and they'll be like, okay, this is an ecosystem that I want to be a part of, that I want to invest in that I want to deposit in the silo and things like that. And I'll just add really quick, like the kind of the motivation behind this. In our initial call a while back, there's a little bit more technical I had brought up like our main goal is let's get let's get buying back to Peg, let's recapitalize, hold two objectives that we are going for. And while like those kind of that maybe has always been the case of maybe the North Star of what we're going for, like Purves had said, that's great. And that maybe is the goal. But like our goal is to get people involved, like Eshun said, in the ethos of being stuck involved for this kind of movement and experiment of this algorithmic stablecoin and now and, and we kind of thought more about it and we're trying to kind of revisit that idea that, like, we do need to address these the $0.90 table and we do need to address like recapitalizing things, but maybe shifting and taking input and saying like, maybe we shouldn't be saying like, these are objectives. This is the goal that we're going for. But focusing on the roadmap, on how we're going to get there, breaking down like why people should be involved from that perspective of those two issues that I just brought up. So that was kind of like the main thinking behind like why we need to shift maybe your thought process around just getting people organically to be interested in this and this protocol from an education standpoint and all that and really like kind of trying to shove it into the narrative. Got it. Okay. Yeah, that's much more clear. Appreciate it. And by the way, no, Jack, you shouldn't be sort of muted anymore, so feel free to speak up if you like. But they make an interesting point. And so that's that specifically that the fact that our terminology does sort of refer to it being in a bad spot or being stopped being in a you know, weak position or recovering from the hack and the like. And that might not be the best terminology. But no, that's not what you guys are necessarily going for. But yeah, the explanation of, you know, here's the like high level theme around which all of this, you know, content and work is centered around makes sense very much love the idea of a manifesto. Yeah I'm not sure if I have too many other other salient thoughts, but the concept is much more clear to me now. So we wanted to articulate to you guys like the thesis, like we're not totally, totally understand, like and that's exactly what we said is when, when we said back better is that that's really what I said to the team. I was like, I don't know if they're going to like that because they don't want to kind of see being in this negative position because this is the protocol just working as it is. So totally agree there. I think like we can play with the wording, but I think we wanted to articulate to you guys the why we think this is necessary and then show you guys like this is how we think we're going to get there. So next steps on our end in order to implement this is, you know, one we, we, we want to make a better effort about coming to the weekly dev calls so we will will be there tomorrow in the dev call and we'll sit through most of it. And so but we also want to kind of run this by Pwds and kind of talk to them about it. And then on top of that, I think maybe we might want another call with pubes in order to get a better look at the entirety of the road map again and we went to this a lot of this in our kickoff call, but maybe a little more granular about each area of the road map and something we can potentially even do async just so that we can articulate what we want to and understand what we don't want to mess, you know, put in this idea. But I do think it is really important for us to do something big and splashy, to get people reignited and excited and kind of bring it back to top of mind and show people that they're not investing in this $0.90 stablecoin that they're investing in this like a larger vision and that, you know, we're going to get back to P&G and we're taking these steps in order to and, you know, we're also building all these other things to build on top of this ecosystem and another question I had about this kind of road map discussion is where do you guys see things like route in this larger kind of road map ecosystem building like would you rather us not really talk about route or would you rather us kind of point to route as a way that the ecosystem is expanding? Like how how do you guys look at the relationship between Route and, you know, some of the other kind of initiatives like that versus like a Wells Well, I guess I would say that in the grand scheme of the beanstalk ecosystem being successful, root will be an important building block. But I almost can't even advise on like what to say about it just because I, you know, I don't have the latest information on what exactly they're working on at the moment and like the long term road map. But I feel like there should be, you know, no holding back as far as talking about it. As far as I'm concerned, I just want be the best resource for the information. Okay. Yeah, that makes sense. But I know you you know, I'm sure you have contact with Manifold, and he'd be happy to talk about it. I just. Yeah, I think that answers the question, which is like, what's the appetite for discussing the larger ecosystem? And I think that yeah, like I think it's plenty appetite okay because yeah I think it's a cool different thing to show people that like there's things that we can build on top of this ecosystem and so, so yeah, I definitely think that's good And so we'll come in I mean if anything I think that and sorry to interrupt, but I think that does feed into the whole, like, you know, concept of if the goal is to get people excited, like, you know, telling people about what getting built on top of Beanstalk to me seems pretty exciting. And you know, that doesn't just go for root, but also other protocols. You know, maybe it can go bother the irrigation guys. I mean, I still don't really know what they're working on, but they've been working on something and it is related to the beanstalk somehow. So that would be something to potentially look into too. Yeah. Yeah, that's exactly yeah, I forgot about irrigation. That's definitely something that we want to kind of hit in my SO like, I mean, so there's a okay, so obviously there's root, there's irrigation and then on the beans side there's wells and then there's pumps. Right. Is there anything else off the top of your head that are missing like any of these big ones, like big ones that are actively being developed currently, they're like or I guess like, you know, even anything a little later than ideation. Well, I guess a little later than ideation would be like on chain governance and the stock gauge system. Okay. Anything else in that roots irrigation category? I think those are the two big ones, right? Can anyone else think of anything? I'm drawing a blank on the are you taking the stock gauge system? This isn't referring to shifting the stock rewards for unripe assets, right? This is for irrigation. No, none of these are this. Not for irrigation, but basically buy gauge system. That would be like a more flexible way to adjust the seed rewards, whereas adjusting you know, the thing that's pending on the roadmap in the next month, six weeks or so, is just like a static adjustment to the seeds and then making that dynamic in the future. Exactly. Okay. Yeah. So say like, you know, at this point, for example, the Dow could have already it's pretty clear consensus among the community to make that change. And the idea is like, well, if there was like a more dynamic way to do that, that could decision could have already been made like in real time, you know, adjusting for, you know, current conditions, like no one's converting. Let's reward on being more seeds or. Yeah. So that can't happen at the moment. Mm hmm. Okay. That's good to know. Yeah. So this is perfect. So I think we're all kind of in agreement that, like, this is. So we'll run it by pubes as well, and we'll come into the. Yeah, of course. Tomorrow. Yeah. I was going to just going to make a meta comment which is that Yeah, you should, you guys should feel free to always come to the meeting and ask questions exactly like that. Feel like, you know, this is an unfortunate lack of questions recently and that'd be great to stimulate some discussion. But also if yeah, if you guys want some extended discussion with anyone, including publishers, you know, they're there on the down meetings. We can also ask them to come to these particular one of these meetings if you have a bunch of questions to run through or so you know, as always want to make, make sure we're as available as possible for you guys. Yeah. But also on the other hand, you know, I don't know that any of us have all the answers on the roadmap yet, but but even even related to that, you know, this is probably the best, best person to talk about how far along the thinking is for any particular project. Perfect. Yeah. And yeah, I appreciate the context. So so as far as like content planning, you know, essentially what we're thinking is like, you know, we're going to keep up with the educational content up through April. I think like, you know, the thread that we have where every time we're doing an educational thread, we're adding it to that meta thread. I think that's going to be really successful. It's kind of this pinned resource where when people need that ELI5 understanding of the different mechanisms that they have got and that something will continue. But what we're going to be working on over the next two and a half weeks is this sprint planning for May where in May we want to make it like B manifesto month and, and you know, we're going to kind of work over this next two weeks and put a sprint in in order to get all this roadmap stuff going, because we think that's what's going to be needle moving. And then we followed that up with all these guys are actually shipping like look at wells and then we do a really big launch for Wells and you know, not only is it going to help us on the PR side of something to kind of get other journalists talking about and excited about expanding the ecosystem. But, you know, you know, for pulling that and pushing that into wells and actually shipping wells is going to be a big step in actually getting people excited. It's like, okay, they put out this being manifesto in ocean. They actually just shifted decks like, okay, let me see what's kind of going on in here. So we think that those are going to be pretty big steps in order to get kind of where where we want to. So that's on like kind of the social and content side. You're still going to see educational content and threads over the next two, two and a half weeks. You know, this is kind of the calendar of things you're going to be seeing. You know, we're doing some stuff about ripe, unripe assets, you know, this Monday. Okay, So getting in long form, you know, we're going to be doing it like a metric and analysis kind of breakdown every definitely every quarter, maybe even a little bit more often where we're going to be looking at all the metrics, you know, looking at all the see, like seasons and anything big that happened and things like that. So kind of doing an analysis similar to, you know, Rob was doing a lot of this. Rob, Jonathan, you can keep going, but once you're done, yeah, all happen for like yeah, just like, you know, very similar to some of the things that are happening in LAUSD in know, you know, Rob's in a lot of that that content over there. So we're trying to kind of imitate their like mimic that a little bit and we think that's going to be good content to kind of give people a recap of what's been happening over the quarter. And then, you know, some, you know, more flavors of stablecoins educational type content, which will take us in that may we'll do stronger campaign planning. All right. Yeah. So about the like kind of quarterly report, long form, these are just some of the things that I was going to put in as far as metrics. So if there's anything I missed here or you just let me know, it's stats about the temperature and like the range of spending over the quarter, like highs and lows averages, all that good stuff, pods and the pod rate available soil, how that changed over the quarter being meant at the quarter stock and seed numbers, volatility, just like you know what the price action is looked like, how stable it's been and then what it looked like during the march like usdc stablecoin peg, like how it was affected during that time versus other coins. And yeah, that's those are the first few things I had thought out for this, but I can put that list in the chart as well. So wants to see if there's any suggestions for things I should add. Please let me know. Well, I think the new payments metric wanted particularly interesting this this last quarter. I guess a couple other quick thoughts. I guess the Yeah I don't know. Yeah. Interested to see that I guess was the last thing that last time I got the Skype chat. Yeah. Quick thing I wanted to add on the volatility in March is that unfortunately I think a lot of the infrastructure like in the sub graph that serves the price, historical price data and things like that assumes that the price of three curve is always one, which is not always true. And so during the usdc peg, the price of three curve understandably dropped and it made it appear that the being price did not change. And say that 92 takes the whole weekend whenever usdc pegged. But the price change in reality, the price change is just as much because at the end of the day, the only thing giving the end its price is three curve under which there's usdc. So anyway, it is. Yeah, it's kind of like a technicality, but just wanted to point out that just want to point out that I don't think we can really say something like, Hey, look at how stable Bean was during the day. Peg Yeah, yeah, that's a valid point. There. And it could be a good opportunity to clarify again for people who are reading it how the peg price is calculated and you know, with all this stuff, it's not really like, Hey, this is going to be the best like promotion in the world for being stock. Look at how amazing these stats are. But it's more of just to show people, you know, this is where it's at. Like it's kind of a it's an honest like quarterly report. It's not really going to be kind of like bias and like put things into like a super positive spin, although that will be done like when it's warranted by the metrics, it's more just like setting the bar for, you know, how we're going to warn people about the protocol. It still doesn't draw, makes sense. It still didn't drop the price as much as usdc itself, right? Because it's also like, Oh, I guess I did too. Yeah. And all the USD or taken out of the pool. Yeah. Okay. That makes sense. Yeah. What you said around about, you know, this just being here's the data that makes a ton of sense. Mm hmm. Yeah. I mean, like, there's obviously going to be opportunities when good numbers come up, or at least positive changes come up to highlight that. And it definitely will. But, you know, if something isn't exactly good in terms of the metrics, it's not like we're just going to leave that stuff off just because it looks bad. You know, it's just more of a kind of being transparent with the community about what's going on. So, yeah, so that's what we're going to expect With Longform on the So I'll hit PR first. So like we had mentioned last week, we have we have Carla, Patrick and Kyle here as well. Our new PR team. So, you know, they, you know, we're just kind of getting them on boarding and rolling, but you know, we're really psyched to have them on board. We think they're going to help out a lot on the PR side. Just quick PR updates. So I just dropped a message to pubes. But yeah, so we have a confirmation on the Fisker's digital podcast and that'll be a Twitter space. So, you know, definitely want to see some, you know, we would love to see good attendance from the community there, but you know, so we've got that Fisker's Digital. They're building like a Stablecoin platform with like a a STABLECOIN rating system. So in like kind of a Stablecoin educational platform. So I think that's a it's a really good fit. So we were able to get that. So that'll be either next Monday or next Thursday, depending on when pubes is available. And then the following week we got a cool opportunity on the Decent People pod where we're finalizing that, where we'll be able to get pubes on with his name is Matt Lansing or something like that. He I'll send a link but his podcast is like really successful. I mean, he has like a lot of pretty insane names that have been on his podcast. Like almost like every big name you can kind of think of in the industry. Like, you know, Cannon from Jump and Eamon from from, from Avalanche. And you know, I'm looking at the list right now, the Solana guys, you know, on a Joe Lubin consensus on and on. So it's a pretty it's he's a really big journalist and so he's kind of and that the take on it is a little more about so his podcast a little bit more about the people behind the protocols rather than the protocols itself. But obviously there's plenty of opportunity to talk about the project itself. But he's really interested in kind of like the public is and the anonymity and you know, why and stuff like that. So I think that's a pretty good opportunity to get in front of a pretty decent crowd. So we'll set that up for the following week. But another pretty good PR opportunity and then it'll also be on to Central, which is like this. They're new kind of up and coming growing media website that's like trying to be like let's they're trying to be like what Fortune magazine is to Web two. They're trying to be in Web three, so a little more like entrepreneurial, but people based rather than like, you know, just product, product, product. So we'll run that by them if it's something they're interested in. But I think that's going to be a good op to kind of get in front of a different audience and kind of hit some of the ethos of being a little bit. And then, you know, we're just onboarding the new PR team. So so definitely more PR stuff coming. Joey, you want to hit Are you going to just run through real quick? Yeah, you can. You can just click that at Super Click. But pretty much we like I mentioned on the last call, we just have a list of kind of educational focus stuff that's getting being name out there, starting to reach out to just some point of contact here. And yeah, I mean, like the bottom of the list, those are all kind of just third party things that depending on your location and sorry, my mind just completely shut off for a sec, depending on where you're at and kind of what your search history, everything like that, those will come up maybe a little bit more of the normie crowd, but just things that come up when you search crypto, I guess, whatnot. So that's kind of like just trying to get being out there and accessible for maybe more of the normie crowd and also just getting the name a little bit more reputable and making sure everything is clean and consistent across the big names as well, like Binance's and Coinbase. So this is kind of our initial goals with just getting all this stuff cleaned up and making sure that everything is consistent prices and and all that. And I know that you guys have worked with Coinmarketcap and we'll probably face some roadblocks there in terms of making sure stuff is calculated the same and whatnot. And I'm sure that'll be a bottleneck. But just hoping to get at least a good amount of this checked off. Yeah, so that's kind of the plan for D is like the first kind of big step is like getting everything cleaned up in all the public channels and outlets so that all the information is kind of easier to access. But yeah, just to kind of sum everything, you know, socials, you know, we're working on more replies and making sure that we're able to hit all those replies to kind of shove us into conversations to kind of expand the chamber a little bit. The echo chamber potentially, Yeah, we definitely think that we need to do this larger kind of campaign planning. So we're going to shoot to have all of this kind of ready to kind of present and kind of finalized as far as the content for next week. And then we can start building out that. And then how kind of the calendar ready over the next week and then so, you know, we'll come to the call tomorrow, we'll start some questions, we'll get a better idea of the roadmap. Again, we might need a call with pubes to kind of walk us through that. This full road map concept. And then we want to come out with how excuse me, we want to come out with a kind of really big, splashy manifesto. This is what we're working on. This is why you should kind of spend your time here campaign, you know, kind of looking at some of these other initiatives as well. Long form. We want to you know, like we have the educational content still going to turn out for the rest of the month and we're going to continue to add some. But kind of focusing on the educational side and the PR getting pubes on a couple of podcasts. And then, you know, we get the PR team in place to now be able to hit some more publications and things like that. But yeah, that's that's what the Scribe team is working on right now. Yeah. If anyone's have any questions, we can hang out for a couple or if not, you can kind of find us in the chat as well. Just one quick note. I'm coming up with the next month's set of blog posts, ideas and if anyone has a certain topic they'd like to see covered or, you know, some element of beanstalk that you think isn't getting talked about enough, just let me know and I'll definitely consider writing about it. Yeah, if there's no other questions. I mean, I appreciate your guys's time and yeah, we'll see you guys. We'll see you guys tomorrow. The dev call. But yeah, same time next week. Thanks, guys. Appreciate it.