Dear Friends and Fellow Ludwigs,
As the month of February unfolds the excitement continues to build at Beethoven X. We feel the crescendo begin to arise within the orchestra and we are thrilled to be making music.
New projects and collaborations are springing up around us and the ecosystem continues to grow. It’s a beautiful time to be alive and there is so much to look forward to.
So what is on the Concerto Programme this week?
Gauge Vote:
The BeetsWars have really started to take shape and the anticipation for the next wave of voter incentives is almost upon us. The next round of votes for the distribution of the BEETS farm emissions will start on Thursday and in order to qualify, community members must hold fBEETS or have them staked in Beethoven x prior to the commencement of the vote. Stay connected for news/alerts regarding the gauge vote and results.
Protocol Fee Distribution:
In every theatre, leading every orchestra is the conductor. They make the music flow in such a way that it sweeps you off your feet. From time to time, the most skilled conductors add a slight variation to add their own mark on the music, often taking it to a new level.
Today’s variation was a distribution of a portion of the Protocol Fees earned in January, taking our beloved fBeets to the higher levels, the new conversion rate is now 1.0138.
This month will still see a few more variations of this nature and we will let you know the next time our conductors have waved the baton.
Symphony of the Week:
The team have been hard at work to create an informative snapshot for a chosen pool featured on the Beethoven X platform that aims to shed some light into the pool’s history and performance. The series will be run on a weekly basis and will include a detailed infographic accompanied by a short medium article to expand on the finer details. The first pool featured in this series can be found here.
Solidly ve(3,3):
The plot thickens in regards to Solidly and 0xDao. We have been strategising on the best play for the initiative and are currently engaged in a vote to decide on whether or not the treasury should farm the solidly NFT. The vote is time sensitive and will only be available for a total of 36hrs ending on the 15th February at 19:00 UTC. Like the gauge vote only members of the community who have fBEETS will be eligible to vote. The vote will be held on snapshot and can be found here.
You can find more about the proposal by engaging with our community in our discord.
Audit Approval:
We have recently received the official stamp of approval from the audit team at Trail of Bits. The audit has been a priority for Beethoven X since the launch of our protocol and we are excited to share this with the community. The review for the audit can be read in more detail on Github.
Bonding at OlympusPro:
In collaboration with OlympusPro a pilot program was held over the course of the last few months to acquire protocol-owned liquidity for the BEETS treasury. In exchange for 550k BEETS, around 2500 Late Quartet liquidity was acquired adding around $325K worth of assets (at current value) to the DAO treasury. Following on from the success of the initiative a continuation proposal was put before the community at the end of last week to supply another 550K worth of BEETS for another 2 months of Bonding. The results for the initiative were met with a majority vote in favour of supporting the bonding program for Late Quartet liquidity.
For more detail on the vote and the initiative check out the snapshot post here.
NFT:
The NFT world on Beethoven X continues to expand. We are working hard on the development of added utility for current holders of our NFT collection as well as creating new and exciting avenues for the integration of NFTs into our ecosystem. We are finalising the finishing touches with a couple of partners and will keep you up to date as soon as we can.
Education:
We appreciate that for those new to the world of Crypto and Defi that things can seem a little complicated at first. With this in mind we are also working on creating educational content aimed at guiding our users skillfully through the landscape. We will be releasing content in the form of short articles, threads, infographics and short video/animations. We value the process of learning and are looking forward to sharing our experience with the community — keep an eye out on our Twitter/Discord
From the Devs:
The team behind the scenes are busy at work making sure that our platform runs as safely and as smoothly as possible. We are sprucing up the Smart Order Router and looking at adding more functionality to the Boosted Pools. The locking contracts have been submitted to audits for review and we are patiently waiting for their response. We are continually improving our infrastructure and seek to provide an efficient container that will continue to grow with our protocol.
The week ahead is shaping up to be another glorious rendition and we could not be more excited to be doing what we love the most, making music. We wish you all the very best for the week to come and as always we are so grateful to have you all as part of our growing community.
Let the trumpets blow and the cymbals crash.
Let the music be MAGNIFICENT.
