BSP-2: Poker Tournament

Proposed by: mistermanifold

Summary: Host the "Beans on the Table" poker tournament. In addition to successfully executing a smooth brand awareness initiative, the primary goals for this tournament will be to draw in 100-250 cross-platform registrants and encouragement community building for existing Beanstalk Farmers.

Budget: Allocate 10,850 Beans from the Bean Sprout Q1 2022 Budget to create a guaranteed prize pool.

Reasoning: Organizations like Olympus DAO and Temple DAO have successfully hosted community-building poker tournaments in the past. Bean Sprout would like to host a tournament in February to demonstrate Bean’s utility and build relationships with other prominent DAOs in the Ethereum DeFi ecosystem. We propose using a guaranteed prize pool model to fund the event. This system ensures that all tournament participants are incentivized to play for a minimum pot regardless of total attendance.

The buy-in per player will be 100 Beans, purchasable on the Beanstalk website, (bean.money). The funds will be Sown and custodied by Bean Sprout until the tournament concludes, at which point they will be distributed according to a predetermined payoff matrix.

Proposed Budget and Structure: Bean Sprout proposes Sowing 9,850 Beans and allocating 1,000 additional Beans to seed the guaranteed prize pool. The number of buy-ins necessary for Bean Sprout to break even on the guaranteed prize pool is 109 players. Each 100 Bean buy-in after 109 entrants will supplement the prize pool.

The sown Beans at the current Weather amount to ~500,000 Pods, which Bean Sprout estimates is a sufficiently attractive potential payoff to attract a large, diverse group of players from various backgrounds. Bean Sprout plans to Sow the 9,850 Beans as soon as the proposal passes to minimize Weather-induced fluctuations in the guaranteed prize pool and lock in the budget while the Field has Soil available.