Dear Friends and fellow Ludwigs,
A new month, a new week, a new day and the beginnings for another masterpiece are underway.
Following on from the excitement of last week we here at BEETS have been busy at work and we are looking forward to sharing what we have been up to.
What to look out for this week, week 5:
Community Vote:
The community recently voted on a 3 month trial period for an initiative to share 50% of the monthly protocol fees between farms.
Last week the first monthly vote was cast and the results are almost in. If you currently hold fBEETS and have not voted yet, make sure your voice is heard and head over to the snapshot.
We would love for everyone to be involved and have a say in the development of our community. The vote will end on the 1st of February, so stay tuned for more updates/announcements.
Protocol Fee Distribution:
January has been a record shattering month for Beethoven X. 24h volume and fees surpassed 130m and 177k respectively — the volatility of the last weeks was great for liquidity providers, the growth of protocol owned liquidity for the treasury and financing day to day operations. 15% of the swap fees are collected in the protocol fee collector. We will publish the exact numbers for the 50% Treasury, 30% Buybacks and 20% team (including Ecofund) distribution tomorrow.
Bounty Programme:
We are happy to announce that the vote to support the Balancer bug bounty program was met with almost 100% of the community vote in favour of the initiative. Security and safety is a value we hold in high regard and we are super excited we can support the cause. For in depth information on the program check out the link here.
As the program develops we will keep you in the loop.
Boosted Pools:
The excitement builds as we approach the completion of our Boosted Pool project. A ton of hard work has gone into their creation and the finishing touches are at play. In anticipation of their launch will be releasing an educational post on boosted pools later this week to keep you up to scratch.
Farm as a Service:
Contributing to our ecosystem is an important aspect of our philosophy and we are stoked to see our tech be used by other protocols in a harmonious way. We are looking forward to collaboration with more projects in the future and we will be releasing a short piece on the topic to outline how we can benefit from these relationships soon.
The return of the Gauge Vote:
The bi weekly gauge vote is fast upon us and we will be announcing the start of the vote later this week.
Celebrations in sight:
Things move so quickly in the Cryptoverse that we have hardly had time to celebrate our achievements. We have accomplished so much over the last couple of months and we are so grateful for the support and contribution from our community. In order to celebrate we would like to give back to the community and we will be announcing a celebratory give away at the end of the week.
From the Devs:
The effort we have put into optimising our infrastructure was a success. The infrastructure was able to handle the increased load of the LBP launch last week without any major problems. Nevertheless, there is always something to do. We start to migrate our storage infrastructure to a newer hardware which means increased performance and efficiency.
We hope you are as excited as we are as we move into this new month. We are proud of our achievements and the development of our community and we look forward to the unfolding of an even brighter future. Make sure to stay connected and feel free to reach out to the team through twitter/discord.
Love as Always.
