Rise and Shine Maestros,
Welcome to another beautiful week at BEETS. Funkadelically FRESH and always insightful, let’s dive into the weekly Concerto Programme.
Balancer Vulnerability Exploit
Balancer has been made aware of an exploit related to the vulnerability disclosed earlier this week. Unfortunately, this has also affected pools on the Beethoven X DEX.
Mitigation procedures have been taken which have drastically reduced risks however affected pools are unable to be paused. To prevent any further exploits, users should withdraw from affected LPs as soon as possible.
The Beethoven X UI will inform all users if they hold liquidity within affected LPs with step-by-step withdrawal instructions.
For Optimism Pools use the tool linked below.
We remain vigilant during these times and will keep the community updated as things progress.
Gauge Vote
The weeks are just flying by and the next round of the Beethoven Gauge Vote is just on the horizon.
Don’t miss the opportunity to have your say in BEETS emissions for the period of the 7–20th of September.
50% of the BEETS farm emissions are decided by the maBEETS gauge and the next round will start this Thursday!
Governance
We’re making steps in the right direction. Last week we saw the passing of BIP-50.
The proposal seeks to reimburse users who lost funds in the recent Dollar Dollar Bills exploit. Those affected will receive a full reimbursement from the DAO treasury equal to that of which was lost.
Currently, the team is preparing the reimbursement plans. To keep up to date check out the BIP-50 Discord channel.
Hot Topic
Did someone say sustainable blockchain-generated income!? What wizardry is this?
This week we’re diving into the Fantom Gas Monetization Program. A brand-new initiative that looks to provide protocols with a regular income derived from gas spent on their dApp.
And with the addition of a quarterly bonus, the Beethoven X treasury just received a welcome FTM injection!
Note by note the blockchain symphony is slowly coming together.
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 #21.
Live Events
DeFi is brimming with new stuff, all the time. It’s fast, it’s fun and it’s oh-so complicated — or is it? Come join us in Discord for Tech Thursday, a mellow jam session on the technical innovations from Beethoven X and Beyond!
Everyone is welcome, simply tune in and get those questions popping.
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.
