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, presenting you the protocol revenue results for the month of September:
At the time of collection, fees totalled $16.7k
🔵 $1.8k (10.6%) of the fees were generated on Fantom
🔴 $15.0k (89.4%) were generated on Optimism
Collected fees were deployed in the following way:
Held on Optimism
• $11.8k was used to buy OP to be paired with our Optimism grant and used as incentives.
Treasury
• $1.2k is kept in treasury as a combination of lzUSDC on Fantom and USDC on Optimism.
• $1.8k will be used to acquire vlAura.
maBEETS voting incentives
With the passing of BIP-51, future gauge vote bounties will now be in the form of BPTs.
• $1.9k was used to obtain 4030 Fantom Layer of the Opera BPTs, which will be used as Fantom gauge vote bounties during October.
Thank you for your ongoing support!
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 19th of October to 1st of November.
50% of the BEETS farm emissions are decided by the maBEETS gauge and the next round will start this Thursday!
Balancer Governance
Currently, an important proposal is being put to vote over at Balancer, with the outcome potentially affecting Beethoven X Optimism users. Let's check it out.
BIP-445 outlines a plan to build a facility for users to report potential losses on-chain from the recent Balancer vulnerability. The proposal covers losses on Mainnet, Polygon, Optimism and Arbitrum but not Fantom, which will be independently dealt with through Beethoven X governance. It is believed that a majority of funds affected were stale and no longer actively managed. Therefore, simply air-dropping a full restitution of all funds to all affected LPs does not seem adequate. Instead, the passage of this BIP would give users a time-bound period to report losses incurred by the incident.
The vote will close on Oct 9 2023 at 18:00 UTC. Hit the link below to check out the proposal.
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 #26.
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.
