Governance Proposals (June 2023)
This page is a comprehensive overview of all proposals types in Beanstalk-related governance as of June 2023.
Table of Contents
Bean Sprout Proposal (BSP)
BeaNFT Proposal (BNP)
Notes
In all proposals where Stalkholders vote:
A Stalkholder's vote for a given proposal is counted as their Stalk at the beginning of the Voting Period that still exists;
1 Stalk equals 1 vote;
Voting Abstain (if applicable) is equivalent to voting Against; and
The proposer must have at least 0.1% of total Stalk at the beginning and end of the Voting Period (including delegated Stalk) in order for the proposal to pass.
Any proposal that proposes for another party to perform work upon, or at any point after, the passage of the proposal must have that party's explicit approval.
All past proposals can be read here.
Beanstalk Improvement Proposal
Beanstalk Improvement Proposals, or BIPs, are proposals to:
Change the Beanstalk protocol;
Mint Beans; and/or
Change Beanstalk governance.
Any Stalkholder that owns at least 0.1% of total Stalk can propose a BIP. Any Stalkholder can vote For, Abstain or Against (although voting Abstain or Against has the same the effect as not voting).
The Voting Period opens when the Snapshot proposal for a BIP can be voted on and closes after 7 days or when it is committed with a supermajority.
If at the end of the Voting Period:
Less than or equal to 50% of total Stalk is voting For the BIP, it fails, or
More than 50% of total Stalk is voting For the BIP, it passes.
If at any time 24 hours or more after the beginning and before the end of the Voting Period more than two-thirds of the total Stalk is voting For the BIP, the Beanstalk Community Multisig (BCM) can execute the BIP.
BIPs are proposed on the Beanstalk DAO Snapshot space. Stalkholders can vote on BIPs on the Beanstalk UI Governance page. Past BIPs can be read here.
See BIP Proposal Process for more information on proposing a BIP.
Beanstalk Operations Proposal
Beanstalk Operations Proposals, or BOPs, are proposals for the DAO to agree on processes that do not involve (1) changing the Beanstalk protocol, (2) minting Beans or (3) changing Beanstalk governance. A BIP can include any changes that would otherwise be in a BOP.
Any Stalkholder that owns at least 0.1% of total Stalk can propose a BOP. Any Stalkholder can vote For or Against.
The Voting Period opens when the Snapshot proposal for a BOP can be voted on and closes after 7 days.
If at the end of the Voting Period:
Less than or equal to 35% of total Stalk is voting For or the majority of participating Stalk is voting Against the BOP, it fails, or
More than 35% of total Stalk is voting For and the majority of participating Stalk is voting For the BOP, it passes.
BOPs are proposed on the Beanstalk DAO Snapshot space. Stalkholders can vote on BOPs on the Beanstalk UI Governance page. Past BOPs can be read here.
See BOP Proposal Process for more information on proposing a BOP.
Emergency Beanstalk Improvement Proposal
Emergency Beanstalk Improvement Proposals, or EBIPs, are emergency upgrades to Beanstalk. EBIPs are submitted and executed by the BCM in order to protect Beanstalk.
EBIPs are shared with the Beanstalk community after commitment. Past EBIPs can be read here.
See Emergency Response Procedures for more information.
Beanstalk Farms Committee Proposal
Beanstalk Farms Committee Proposals, or BFCPs, are proposals related to personnel on the Beanstalk Farms Committee (BFC). The BFC is the group of Beanstalk Farms contributors that has discretion over the Beanstalk Farms budget, including contributor compensation.
Stalkholders vote to:
Add members to the BFC via BFCP-A;
Remove members from the BFC via BFCP-B; and
Extend the terms of existing BFC members via BFCP-C.
The Voting Period opens when the Snapshot proposal for a BFCP can be voted on and closes after 7 days.
BFCPs are proposed on the Beanstalk Farms Snapshot space. Stalkholders can vote on BFCPs on the Beanstalk UI Governance page. Past BFCPs can be read here.
BFCP-A
BFCP-As are proposals to add someone to the BFC. Any Stalkholder that owns at least 0.1% of total Stalk can propose a BFCP-A. Any Stalkholder can vote For or Against.
If at the end of the Voting Period:
Less than or equal to 25% of total Stalk is voting For or the majority of participating Stalk is voting Against the BFCP-A, it fails, or
More than 25% of total Stalk is voting For and the majority of participating Stalk is voting For the BFCP-A, it passes.
The term of a BFC member whose BFCP-A passes ends two quarters after the end of the current quarter (end of March, June, September or December). There is no guarantee that payment terms in a BFCP-A can be fulfilled until the end of a BFC member's term given that the Beanstalk DAO must continually choose to fund Beanstalk Farms.
A BFCP-A is also the proposed BFC member's hiring proposal. Therefore, a BFCP-A must contain payment information at minimum, but should also contain information about what makes the person a good candidate for the BFC, their proposed responsibilities within Beanstalk Farms, etc.
BFCP-B
BFCP-Bs are proposals to remove someone from the BFC. Any Stalkholder that owns at least 0.1% of total Stalk can propose a BFCP-B. Any Stalkholder can vote For or Against.
If at the end of the Voting Period:
Less than or equal to 35% of total Stalk is voting For or the majority of participating Stalk is voting Against the BFCP-B, it fails, or
More than 35% of total Stalk votes For and the majority of participating Stalk is voting For the BFCP-B, it passes.
A BFCP-B is not required if the BFC member voluntarily leaves Beanstalk Farms or the BFC.
BFCP-C
BFCP-Cs are proposals to extend the terms of current BFC members. Only BFC members can propose a BFCP-C.
BFCP-Cs are multi-choice votes where each voting choice corresponds to extending the term of a current BFC member (approval voting style).
If at the end of the Voting Period:
Less than or equal to 25% of total Stalk is voting For a BFC member's proposal, that BFC member's proposal fails, or
More than 25% of total Stalk is voting For a BFC member's proposal, that BFC member's proposal passes.
BFC members whose BFCP-C passes shall have their term extended by two quarters after the end of their current term, with a maximum term length of three quarters after the end of the current quarter. There is no term limit for BFC members.
BFC members have the option to update their previous hiring proposal terms in a BFCP-C. There is no guarantee that payment terms in a BFCP-C can be fulfilled until the end of a BFC member's term given that the Beanstalk DAO must continually choose to fund Beanstalk Farms.
Beanstalk Farms Budget Proposal
Beanstalk Farms Budget Proposals, or BFBPs, are proposals related to the use of the Beanstalk Farms budget. The Beanstalk Farms budget is custodied by the Beanstalk Farms Multisig (BFM). The BFM executes the will of the BFC.
Only BFC members can propose and vote on BFBPs and each member has 1 vote. Any BFC member can vote For or Against.
BFC members vote to:
Hire contributors to Beanstalk Farms via BFBP-A;
Dismiss contributors from Beanstalk Farms via BFBP-B; and
Otherwise use the Beanstalk Farms budget via BFBP-C.
The Voting Period opens when the Snapshot proposal for a BFBP can be voted on and closes after 2 days.
BFBPs are proposed on the Beanstalk Farms Budget Snapshot page, which is where BFC members vote. Past BFBPs can be read here.
BFBP-A
BFBP-As are proposals to hire a contributor to Beanstalk Farms.
A BFBP-A passes if at the end of the Voting Period there are at least 3 votes For, but this can be vetoed by a majority of the BFC voting Against.
Once hired via BFBP-A, a contributor's term length is indefinite unless otherwise specified. There is no guarantee that payment terms in a BFBP-A can be fulfilled indefinitely given that the Beanstalk DAO must continually choose to fund Beanstalk Farms.
Current (non-BFC) contributors only require another BFBP-A if their pay rate has increased or role/commitment has significantly changed since the terms of the proposal in effect.
BFBP-B
BFBP-Bs are proposals to dismiss a contributor from Beanstalk Farms.
If at the end of the Voting Period:
Less than a majority of the BFC is voting For the BFBP-B, it fails, or
At least a majority of the BFC is voting For the BFBP-B, it passes.
A BFBP-B is not required in circumstances where a contributor is leaving Beanstalk Farms voluntarily or gracefully.
BFBP-Bs shall not mention the contributor's name, but instead shall include a hash, where the input of the hash indicates the contributor being dismissed. The input of the hash shall only be shared with the BFC and the contributor in question. This allows the contributor to verify the result of the vote while preserving their privacy during the Voting Period and if the vote fails.
BFBP-C
BFBP-Cs are proposals to use the Beanstalk Farms budget outside of hiring contributors.
A BFBP-C passes if at the end of the Voting Period there are at least 3 votes For, but this can be vetoed by a majority of the BFC voting Against.
A BFBP-C is not required for payments valued at less than or equal to 25,000 Beans or USDC.
Beanstalk Immunefi Response
Beanstalk Immunefi Responses, or BIRs, are responses to bug reports on Immunefi. Only BIC members can propose and vote on BIRs and each member has 1 vote. Any BIC member can vote For or Against.
The Voting Period opens when the Snapshot proposal for a BIR can be voted on and closes after 3 days.
If at the end of the Voting Period:
Less than a two-thirds majority of the BIC is voting For the BIR, it fails, or
At least a two-thirds majority of the BIC is voting For the BIR, it passes.
See BIC Process for more information.
BIRs are proposed on the Beanstalk Bug Bounty Snapshot page, which is where BIC members vote. Past BIRs can be read here.
Bean Sprout Proposal
Bean Sprout Proposals, or BSPs, are proposals to spend the Bean Sprout budget.
Anyone with 0.1% of the Stalk supply or BSM signers can propose a BSP. BSPs are voted on by Stalkholders and have two voting choices: For and Against. The Voting Period for BSPs is 5 days.
BSPs that propose to spend less than or equal to 25,000 Beans are optimistically approved unless a quorum of 10% of total Stalk is reached, after which the majority vote determines the outcome of the vote. BSPs that propose to spend more than 25,000 Beans must reach a quorum of 10% of total Stalk and a majority voting For in order to pass.
A BSP is not required for the BSM to send payments valued at under 4,000 Beans.
BSPs are proposed on the Bean Sprout Snapshot space. Stalkholders can vote on BSPs on the Beanstalk UI Governance page. Past BSPs can be read here.
BeaNFT Proposal
BeaNFT Proposals, or BNPs, are proposals through which the BeaNFT DAO votes on the direction of BeaNFTs (new collections, collection upgrades, etc.).
Anyone with 0.1% of the BeaNFT supply can propose a BNP. BNPs are voted on by BeaNFT holders and have two voting choices: For and Against. The Voting Period for BNPs is 7 days.
If at the end of the Voting Period:
Less than or equal to 15% of the BeaNFT supply is voting For or the majority of participating BeaNFTs is voting Against the BNP, it fails, or
More than 15% of the BeaNFT supply is voting For and the majority of participating BeaNFTs is voting For the BNP, it passes.
A BNP to create a new BeaNFT collection should include, at a minimum: (1) criteria to qualify for a BeaNFT in the new collection and (2) any rarity boost criteria. Including high level information about the theme of the collection, whether qualifying Farmers will be required to mint them, etc. is recommended. After the passage of the BNP, it is on the proposer to see through the completion of the art, the creation and deployment of the contracts, etc. Due to this, there is no guarantee that a new collection gets created after the passage of this type of BNP.
A BNP seeking to upgrade an existing BeaNFT collection should outline (1) the proposed upgrade, (2) the rationale for the upgrade and (3) any technical criteria required to be implement the upgrade.
A BNP can also be used to change the configuration or signers on the BeaNFT DAO Multisig (BDM).
BNPs are proposed on the BeaNFT DAO Snapshot space. BeaNFT holders can vote on BNPs on the Beanstalk UI Governance page. Past BNPs can be read here.
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