Beanstalk Farms · August 17th, 2022

BIP-22 and BIP-23: Beanstalk Q3 2022 Budget

The Beanstalk DAO approves the Q3 budgets for Beanstalk Farms and Bean Sprout.

Beanstalk Farms is pleased to announce that BIP-22 and BIP-23 – the Beanstalk Farms and Bean Sprout Q3 2022 budgets, respectively – have been passed by a vote of the DAO.

Beanstalk Farms

Beanstalk Farms is a decentralized development organization supporting Beanstalk. Its budget of 500,000 Beans for the remainder of Q3 will allow Beanstalk Farms to focus on fulfilling three major ongoing objectives:

  • Decentralized development: Continue to develop a diverse organization without any single points of failure or dependence.
  • Focus and flexibility: Be able to deliver high quality output in a timely fashion, while having the flexibility to fund and support a wide variety of unique opportunities related to Beanstalk.
  • Attracting high quality talent: Attracting and retaining high quality talent is critical to the success of Beanstalk, and the new Deposit compensation structure has been designed with this in mind.

Bean Sprout

Bean Sprout is a Beanstalk accelerator program to facilitate rapid development on and around Beanstalk in a decentralized fashion. Its budget of 150,000 Beans for the remainder of Q3 will allow Bean Sprout to focus on fulfilling four major ongoing objectives:

  • Recruit world-class talent to build technologies and businesses that benefit and grow the Beanstalk ecosystem;
  • Invest in and support committed builders with capital and necessary resources;
  • Drive the development of a BDV economy, including necessary off-chain components; and
  • Facilitate partnerships to seed pools and deepen liquidity trading against Beans in the Silo.

Each contributor’s allocated quarterly Bean payment will be Deposited in the Silo when their hiring proposal passes. For each bi-monthly payment, a contributor will be paid Beans in the form of a Deposit that includes the proportional accrued Beans, Stalk and Seeds.

If a contributor leaves or is dismissed from Beanstalk Farms or Bean Sprout while they still have unpaid Deposits allocated to them, the Beans will be Withdrawn, Claimed, and then allocated to the rest of the respective organization’s budget.

About Beanstalk

Beanstalk is a decentralized protocol that allows anyone to realize the value of an open, permissionless fiat stablecoin. The Beanstalk community of lenders and savers secures a protocol-native stablecoin, Bean, with the goal of creating the world’s most accessible digital money system. By eliminating collateral requirements, Beanstalk can be the catalyst for a trustless money that unlocks the potential of decentralized finance for everyone.