Bean Sprout

Proposer

DeFiChad

Summary

This proposal proposes to reallocate 5,000 Beans from BSP-9 to reward bacchist and sync for originating the idea of Seed Parity for Unripe Assets; if approved, the reward will be split between them.

Purpose

In September 2022, bacchist and sync came up with the idea of Seed Parity for Unripe Assets to better align incentives between pre-exploit Silo members and new users and to further support peg maintanence by removing the opportunity cost for conversions below peg from urBEAN3CRV to urBEAN.

The idea was originally raised during the Beanstalk University Call on 9/27/22, and in response to it publius remarked “that’s actually a great idea…that may actually be just a great idea…that’s a very interesting idea”: https://www.youtube.com/watch?v=i9qXFDvGkcI&t=2422s

bacchist and sync then started a DAO discussion to further explore the idea. The initial draft of the proposal they shared on Github ultimately prompted a more in depth technical discussion around its implementation, its subsequent development and inclusion in the Silo V3 BIP, and the broader community’s support for it: https://gist.github.com/bacchist/8afdd0ab72b414e9673928130e0c944f

Community Support

bacchist first inquired about the community’s support for a reward in early May. sync followed up after BF shared the draft Silo V3 BIP at the end of June. On both occasions, multiple community members and delegates expressed their support for a reward.

bacchist and sync initially considered Beanstalk’s community grant program as an option from which a reward may be issued, but were told it’s unfunded moving forward and that it wouldn’t be suitable. They were then advised by BF to propose a reward request to the DAO directly - hence this BSP.

Effective

Upon the passage of this BSP, the Bean Sprout multisig will send 2,500 Beans each to bacchist and sync, for a total of 5,000 Beans.