Dear Friends and Fellow Ludwigs,
Welcome to another beautiful week. There has been a spark of inspiration, an epiphany you could say and it’s all about evolution. The evolution sustainability, the evolution of technology, the evolution of liquidity.
The evolution of Music.
The excitement begins to build as we start to see how the next movement in our masterpiece will take shape. The rhythm, the tempo, the tonalities and the texture all flowing into one perfect harmony.
It’s masterful and it’s magnificent!
So what’s on the Concerto Programme this week?
Tech / Development
The Devs be steady Devin’. Expect nothing less. There is a common saying that describes a phenomena when things start to coalesce towards a crescendo: “The calm before the storm”. Things aren’t quite that dramatic but we’re onto something, something big.
The next couple of weeks look at prepping the space for the launch of the new pool factories. A flywheel like no other is about to take root and the Devs are making sure everything is in alignment. Day to day chores are not being neglected and general fixes and improvements are a constant. On top of maintenance, work has begun on creating a new portfolio tracker and will pick up speed over the coming month. On another note, @skly is strongly considering a career change and will be picking up the pen again this week to drop some technical info on an interesting topic: Reliquary.
Governance
Talented and open maestros continue to actively participate in conversations and proposals that drive the protocol towards a bright future. If you missed any of the debates or decisions this week, here is everything you need to know!
Proposals passed
- Increase Tarot Lend Position — A community member put forward a proposal to increase the number of BEETS that the treasury lends out to the Tarot. Tarot is an LP leverage farming protocol that allows lending and borrowing of assets within certain pools. Due to an imbalance in the particular BEETS/FTM vault (weighted heavier in FTM), BEETS incurred a high borrow APR, hindering the APR available for leveraged positions in the vault.
The proposal stated, that if the treasury were to provide more BEETS to the vault, the borrow APR would reduce, increasing the APR on leveraged positions. The overarching argument was that via providing more BEETS to the unbalanced vault, Beethoven X could earn more BEETS via an increase in supply APR. The proposal passed with 96.74% of Ludwigs in favor.
Proposals under discussion
- veBAL voting power — The discussion is open to acquiring veBAL, auraBAL, and vlAURA to complement the emissions from bribing. The proposal looks to use $75k of Treasury funds as an upfront purchase and the monthly treasury portion of the protocol fees obtained from Optimism. The discussion is ongoing in the Treasury forums.
- POL Liquidity Farming — Part I of the treasury restructure, which sought to move Treasury funds into the Rocket Fuel pool on Optimism has been implemented. Part II will become more of a focus once the new factory pools are available.
- LQDR acquisition — The discussion remains open, and while there is a split in the community we await the outcomes of other events before determining the next steps.
Governance continues to thrive; thank you all for your participation! This week you can expect to see the outcome of weeks of hard work to create a robust, secure, and inclusive DAO framework. We can’t wait to share it with you! Keep your eyes peeled!
Battle of the BEETS
Proudly introducing our first ever community competition, welcome to Battle of the Beets. Contestants have a week to create and submit their best community pool using the Beethoven X pool composer. Over the course of a month we will be monitoring the performance of these pools in an all out battle for the title. Winner takes it all. Have you got what it takes to be the next Beethoven number one?
To learn more about the rules and how to get involved check out the following article:
Performance Report
Another month has come and gone and for many Ludwigs, this will be true for their summer. So while we enjoy one more cocktail, or Glühwein (if you’re in the Southern Hemisphere), let’s settle in to look at August’s financial performance.
This report aims to outline the metrics of success for Beethoven X in a fun, simple, and easy-to-understand manner, as well as offer insight and transparency to you, our users. Based on the presentation given during the Monthly Community Town Hall AMA, this report allows users to keep up to date with the more quantitative aspects of the protocol.
Town Hall Recap
The community gathered for our monthly breakdown last week in the Town Hall. We covered a whole range of topics from the August performance erport to the Social Science Lab sense making study and much, much more. The Town Hall is a must for all aspiring Ludwigs and is a great way to stay up to date with all the current affairs at BEETs. In case you missed it, here is a link to a recording:
Gauge Vote
The weeks are just sailing by and Round 19 of the Beethoven X gauge vote is almost upon us.
Don’t miss the opportunity to have your say in 30% of the BEETS emissions for the weeks of September 19 and 26. Voting will be conducted via Snapshot and will go live at some point this Thursday.
For more information on the Gauge and how you can get involved check out the following Medium article:
Hot Topics
There is a lot going down in the Beethoven X household and it can be hard to keep up to speed. That, combined with how fast DeFi evolves and the rate at which the technology is being developed makes it almost impossible to stay on top of the ball. Fear not, aspiring maestros, we have got you covered.
We have been working on ways to keep all this information simple and easy to understand and we are stoked to be sharing that with you here.
Learn all about the Flywheel effect and why interest bearing assets are shaping the future. Get stuck in!
Live Events
There is so much music out there it’s hard to listen to it all! We try our best to keep it all lined up; here are the gigs scheduled for this week:
Weekly Community breathe: Feel like it’s all getting a little too much? Or perhaps you just want to take things to the next level — elevate! The breath is central to many inner practices and plays a major role in the regulation of our nervous systems. From general well being to focused inner work, a consistent breath work practice is almost certainly going to add value to your journey. Join us on Wednesday at 09:00 PM UTC for a community breathwork session with Yogi Astralnaut.
Bi-Weekly Conscious Conversations: Grab a cup of tea / coffee and come hang out with the community in our bi-weekly conscious conversations session. This is an open space to catch up, share and be seen. No expectations, no agenda, simply show up and be present. If you feel like sharing or just listening in, this is a place for our community to be vulnerable. Join us on Thursday at 12:00 PM UTC over on our Discord.
Outro
It’s truly great to be out here living maestros. Back from the dead with second shot a life. The first cycle was just a test run and this time we’re coming at it with all guns a blazin’. With some real experience under the hood we are excited to share with you our musical insights and hopefully have some serious fun along the way.
Wishing you all the best for the week ahead!
Beethoven X
