Beanstalk DAO

Proposer

Rex (rexthebean.eth)

Proposer Wallet: 0xfec2248956179bf6965865440328d73bac4eb6d2

Summary

Formalize reporting responsibilities for the BFC:

• Written updates - To be published in the Announcements channel on the first and third Mondays of every month by 8:00 PM UTC
• Monthly update calls - To be held within six hours of the publication of the first weekly update each month

Hold similar reporting requirements for any group receiving development funds from the Beanstalk DAO

Rationale

The Beanstalk DAO relies on information from Beanstalk Farms (BF) and other developers for an understanding of objectives, approaches, and progress. While it’s understood that BF is currently working under a budget that was approved in February of 2023 (via BIP-33) and that a BF development budgets may not be necessary (reducing the need for accountability related to that group), BF remains an integral part of protocol development. Furthermore, the BFC is in the best position to consolidate and communicate information about BF activity.

Proposed Solution

Update BFC Responsibilities to include written updates and monthly update calls.

Written updates will be posted in the Announcements channel of the Beanstalk server on the first and third Mondays of every month by 8:00 PM UTC and will include (but need not be limited to):

Major Projects

• Name and short description
• Recent developments (past two weeks)
• Next steps (current and coming week)
• Percentage completion (10% increments) and confidence level in that percentage (P10/P50/P90)

Ongoing Operational and Maintenance Efforts

• Tasks completed over the past two weeks (anything that has taken more than two hours of working time during the period)
• Tasks for the current and coming week that will likely take more than two hours of that period

Projects Under Consideration

• Project description
• Potential benefit of the project
• Potential resource necessary for completion
• Level of consideration (e.g., Gathering Information, Under Review, In Preparation, etc.)

Monthly update calls will include (but need not be limited to):

• A summary of completed project work from the prior month
• A summary of anticipated project work for the current month
• A summary of projects under consideration
• A period for questions and answers from attendees

Monthly update calls will be recorded and made available to the Beanstalk DAO via Discord within 24 hours of completion.

All updates must be performed by a member of the BFC or their appointed representative(s). Failure to deliver updates (written or calls) on more than three occasions in a calendar year will result in the immediate dismissal of all sitting members of the BFC and trigger nominations for new members.

Similarly, any future group performing developer tasks (e.g., implementing new features, performing operational and maintenance tasks, etc.) using funds provided by the Beanstalk DAO must perform similar updates during the term of their agreement or face consequences up to and including immediate termination and forfeiture of future payment.

Beans Minted

None.

Effective

Upon passage.