Rise and Shine Maestros,
Welcome to another beautiful week at BEETS. Funkadelically FRESH and always insightful, let’s dive into the weekly Concerto Programme.
Protocol Sweep
Maestros, it’s time for the protocol revenue results for the month of July:
At the time of collection, fees totalled $28.0k
🔵 $7.9k (28.0%) of the fees were generated on Fantom
🔴 $15.7k (55.9%) were generated on Optimism
⚫️ $3.8k (13.5%) were generated from sFTMx
🖥️ $0.7k (2.6%) were generated from Fantom Validator
Compared to June results:
⬇️ Fantom fees decreased by 2.1%
⬇️ Optimism fees decreased by 12.7%
⬇️ sFTMx fees decreased by 12.5%
⬆️ Validator revenue increased by 141.6%
Collected fees were deployed in the following way:
Incentives and rewards
- $12.3k to buy OP to be paired with our Optimism grant and used as incentives
- $2.1k to be distributed as sFTMx Coalition rewards
- $0.9k to buy OP to use as Roast Beets incentives under BIP-52
Treasury
- $4.1k was converted to 9638 Fantom Menace BPTs
- $1.4k was saved as USDC on Optimism treasury
- $1.0k will be used to acquire vlAura
- $0.7k was saved as FTM on Fantom treasury
- $0.4k was used to buyback 20987 BEETS
maBEETS voting incentives
- $5.0k was used to obtain 11927 Fantom Menace BPTs to be used as Fantom gauge vote bounties in August.
Governance
With the passing of BIP-69, we are excited to announce that Beethoven X is officially moving to the Sonic chain!
Although the launch of Sonic is planned for the near future, this transition period provides us with an invaluable opportunity to meticulously plan our migration and implement meaningful changes to our current protocol structure.
The Beethoven X DAO Music Directors have identified three foundational areas of discussion that need to be defined before the migration begins. These are: the Staking system, Migration and the first phase on Sonic, and Tokenomics. We encourage the community to openly share and discuss their ideas on these core foundations over in the brand new Sonic Discord channel.
Gauge vote
May the force BEET with you!
Another wave of the bi-weekly Gauge Vote has been completed and the votes are in. This round, over $8,000 worth of incentives were offered as BEETS bounties.
Check out the final results for Round 68 below.
BEETS DA-DA-DA DATA
The BEETS data series is running strong.
Light work and easy reading these little gems are meant to keep you up to date with the most essential performance metrics at Beethoven X.
Dive into episode #68 below.
Live Events
Towntastically terrific. The monthly gathering is just around the corner.
Join us on Thursday August 8th @ 2pm UTC in Discord for a breakdown of the month of July.
We’ll be diving into the monthly performance report before opening the floor for a good old Q&A.
See ya there!
Outro
The sun is shining Ludwigs and the weather is sweet! We hope everyone out there is still groovin’ to the BEETS. More challenging times out there for sure but we’re out here building and fully committed to the mission. There is plenty in the pipeline to look forward to and we’re stoked to have you all here with us!
Have a great week and stay FRESH maestros!
Beet X
