Rise and Shine Maestros,
Welcome to another beautiful week at BEETS.
Funkadelically FRESH and always insightful, let’s dive into the weekly Concerto Programme.
Gauge Vote
May the force BEET with you!
Another wave of the bi-weekly Gauge Vote has been completed and the votes are in.
The final results for Round 40 can be found on Snapshot below.
But this week, things are a little different.
Read on Maestros…
Governance
A lot has gone on in the past week, with the continuation of the Multichain saga. It’s been chaotic, to say the least!
In light of this evolving situation, an emergency proposal has been put forward: BIP-45 Emergency Gauge Alteration. Until everything settles the proposal suggests the following:
- Direct the gauge vote emissions only to pools without any Multichain bridged assets. Normal gauge vote rules would still apply.
- Give Music Directors the right to direct the rest of the emissions. These would be used for bootstrapping new pools when new partnerships are formed or moved towards maBEETS pool to increase the revenue of maBEETS holders.
- If the situation is not clear before the next vote (with a scheduled start on 20th July), then collected BEETS gauge vote incentives would still be distributed through the voting process, but the exact method will be decided later.
As an emergency proposal, this will have a discussion period of 24 hours with a following voting period of 24 hours.
Protocol Sweep
Maestros, the month of June hath come to an endeth and that can only mean one thing — it’s time for a fee sweep.
At the time of collection, fees totaled $47.0k:
- $17.8k (38%) of the fees were generated on Fantom
- $29.3k (62%) were generated on Optimism
Compared to April results: Fantom fees decreased by 19.2% and Optimism fees decreased by 9.2%.
The $14.6k was deployed in the following way:
- $14.6k was held to be paired with our OP grant to be deployed as liquidity mining incentives.
- $8.0k was added to House of the Rising Sonne (Optimism)
- $10.2k was used to acquire a combination of veBAL, vlAura, and auraBAL.
- A total of 398k BEETS ($9.7k) was bought off the open market and will be distributed as bounties during July’s gauges.
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 #14.
Live Events
Towntastically terrific. The monthly gathering is just around the corner. Join us on Thursday at 1 pm UTC for a breakdown of the month of June.
On the agenda we have the following topics:
- Performance Report for June
- Multichain
- Aura Finance
- Concentrated Liquidity
- Community Q&A
Action-packed as always, we’d love to have you all there!
Hot Topics
Unparalleled efficiency. Insanely Composable.
A pool built for all…
In this week’s hot topic, we’re diving into the flexible beauty of Composable Stable Pools.
On The Horizon
Coasting through OP City in the BEETS Chopper.
A bright purple hue lies hidden amongst the busy streets.
I wonder what it could be…?
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
