POSITIVELY VIBING,
Welcome Maestros, to another beautiful week at BEETS! Where the Music never stops and the creativity is just oozing in abundance.
Fun, funky and fresh. It’s all about living in the moment and enjoying the present. Let’s take a quick sip of the ol’ BEETleJuice and get to cranking.
Ladies and Gents, this week’s agenda!
TECH
Alrigggghty. Let’s set a couple of things straight.
There has been a lot flowing through the technical pipeline over the past couple of months. From Boosted Pools to Reliquary, back to Boosted Pools, SOR development, Vulnerabilities and more, it’s been a lot to keep track of.
To keep things simple and yours truly in the loop, we’ll break down a bit of a roadmap.
Coming up first on the list we have Reliquary. The UI is complete and the backend is fully integrated. What’s left now is a bit of transition time for the community. Drum roll, drum roll … The schedule is to launch Reliquary in the next 2 weeks! This is just a preliminary announcement and a more official statement will come out later this week. But it’s going down and it’s rolling in soon!
Next up we have Boosted Pools. In light of the disclosed vulnerability, our big plans for the next leg of the boosted revolution had to be put on hold. The team over at Balancer have been working on a fix and the new factories are almost ready to drop. With those changes in place, the Boosted Revolution is back on the cards. As soon as Reliquary is out of the way we’ll be switching our focus back to the Boosted Pools.
Viva la Revolution!
In the background, there is still plenty going on. The SOR is receiving constant updates as well as our backend infrastructure. With little tweaks here and there to the front end and POOF, you have a technical recipe for awesomeness.
So to summarise. Reliquary up next, then Boosted Pools then the future! Who knows where it’ll take us!
Gauge Vote
It’s almost time to drop that ballot. Round 30 of the Beethoven X Gauge vote will begin this Thursday! But, before we prepare for the upcoming gauge, let’s analyse some recent changes.
Pimped up and beetalicious, a couple of weeks ago, some fresh new guage changes dropped. Most notably, Beethoven-X now offers gauge bounties for users to vote for gauge pools that significantly contribute to protocol fees.
The threshold for protocol-provided bounties is set at 2% of the previous month’s Fantom protocol fees. Gauge Pools contributing to less than 2% are capped at 1% of the vote allocation.
Sustainability is key, and this change took place to ensure the protocol continues towards its mission of longevity. For pools that fall below the 2% contribution, the goal is to work closely alongside partner teams to help to ensure their pools operate as efficiently as possible for both users and protocol. You know the saying “a rising tide raises all ships!”. So has this been working so far?
Let’s have a look.
In the previous gauge vote, contributing 0.36% of the monthly protocol fees, the OATH/ETH (Spottie Oatie) 80/20 Pool fell below the 2% protocol fee requirements. The pool was subsequently capped at 1% of the total votes for the previous gauge.
Working closely alongside the Music Directors, the Byte Masons deployed a new pool to try to increase overall volume. A fresh new tune, Oath Candelabra, OATH/FTM/USDC (70/15/15) aimed to do so via direct exposure to the two tokens that witness the greatest volume on the network, FTM and USDC. Beetin’ and Ballin’. What was the result?
Since the start of February, this pool has gone well beyond the cap, and has contributed to 6.63% of total protocol fees! It’s not only increased its fee contribution by 18.4 times, but it’s actually the third-highest contributing pool on the DEX for the month so far! BALL- ER.
It’s still early, and of course, this is only one case study, but the changes are looking to have a positive effect on the protocol. We will follow along closely and keep you up to date; we’re very excited to see how it plays out in the next round!
Wondering where these pimped up analytic images are coming from?! Well, here’s a little alpha drop for ya, Souvlaki has gone truly above and beyond with a whole new data studio! Wen wen wen! TODAY! Keep your eyes peeled.
Hot topics
Feast your eyes on this Ludwigs,
The hottest launch pads in town. Get strapped in and ready for take — off. LBPs are changing the game and here’s why.
Reliquary
A change is coming and it’s going to be Reliculously BEETiful!
The great Relicquary migration is really only a couple of weeks out. Pack your lunchbox, and grab ya bag, we’re all about to go on a soul-searching journey into the magic of the unknown.
Part 2 in our starter pack series is all about the more technical side of Reliquary.
Get stuck in Degen!
DOCS
DeFi Re-Imagineered.
Show stopping, soul popping, beet dropping badassery. The updated DOCS are finally here! Pimped out and positively fabulous the new DOCs have everything and we mean everything you need to know about Beethoven X. From deep dives into Tech, Tokenomics and Ecosystems, we haven’t left a stone unturned.
Simple, fun, engaging and educational the new Docs should be a delight to read — go get lost in the madness.
Outro
Pheeeew!
The funk doesn’t stop and things are getting hot! There is a lot going down in the BEETS house and the future has never looked so bright.
Innovation meets Imagination and there is no intention of stopping.
Let’s get it Maestros, to infinity and beyond.
