Beanstalk Farms ยท February 8th, 2023

Announcing BIP-33: Beanstalk Farms H1 2023 Budget

The Beanstalk DAO approves BIP-33.

Beanstalk Farms is excited to announce that BIP-33, the Beanstalk Farms H1 2023 Budget has passed by a vote of the DAO.

Beanstalk Farms is an independent decentralized development organization of core contributors working on Beanstalk. Beanstalk Farms has historically been funded by the Beanstalk DAO and proposed quarterly budget BIPs that mint Beans to cover operating expenses and compensate contributors.

In response to the Q1 budget BIP failing to reach quorum, Beanstalk Farms redesigned the budget to cover the first half of 2023 (as opposed to just Q1) to enable core contributors to work towards the following goals:

  • Decentralized development: continue to develop a diverse organization without any single points of failure or dependence.
  • Focus and flexibility: deliver high quality output in a timely fashion, while maintaining the flexibility to fund and support a wide variety of unique opportunities related to Beanstalk.
  • Attracting high quality talent: continue to attract and retain high quality talent, which is critical to the success of Beanstalk.

The Q1 budget of 400,000 Beans and the Q2 budget of 950,000 Beans will allow Beanstalk Farms to focus on fulfilling a number of specific objectives across five primary workstreams: security, on-chain development, middleware development, frontend & design and content, community & marketing. Below is a selection of the expected on-chain developments:

See this page for a detailed on-chain roadmap.

  • Release NatSpec documentation for all functions within Beanstalk, supporting the ability of developers, auditors and whitehats to better and more quickly understand Beanstalk;
  • Implement a generalized permit system within Beanstalk (i.e., Tractor);
  • Deploy a BEAN:ETH Well on the upcoming zero fee AMM;
  • Implement time-weighted average Bean seigniorage distribution in the Silo and bring the Withdrawal timer down to zero;
  • Make Stalk and Seeds liquid;
  • Implement variable Seeds per BDV rewards for assets on the Deposit Whitelist;
  • Implement a Stalk Gauge System that allows Stalkholders to approve Stalk and Seed rewards for various Deposited assets without the need for a BIP;
  • Create ERC standards for Deposits and Pods; and
  • Explore and implement the beginning stages of a suitable on-chain governance structure.

The introduction of the Audit Fund (initially funded with 500,000 Beans) will allow Beanstalk Farms to continue to retain Halborn and set up various audit competitions like Code4rena.

Check out the Beanstalk Farms Operations Reports for data on how Beanstalk Farms has been making use of its budgets.