Dearest friends and fellow Ludwigs
As we embark into yet another week, let’s take a step back and remember why we are doing this Concerto Programme. What is the point of this weekly memo that hits your feed?
The point has from the beginning been to:
1) keep you as informed as possible on the work of the team.
2) create an informal connection between team and community
3) create a consistent and reliable pattern
The reason we wish you to be informed is that our collective decisions reach a higher quality if we align on the information. We simply become a healthier and more resilient organism, a better orchestra. The reason we wish for a strong bond is to show you the human activity that happens behind the anon pfps and the brand; to invite you into a part of the engine room. Finally the reason to create a consistent and reliable rhythm and pattern is for us all to have a groove we can trust and lean on. Like a bass player and a drummer laying down the groove. So all in all, the reason for us to share our inner workings, our plans for the immediate near term, the week ahead, is for you and us to unite. To unite on our mission to be the number one DEX on Fantom.
So — this being said, the conductor setting the stage for the concerto of the week; let’s dive into the programme. What are we working on this week?
From the Devs
Besides fixing your general wellbeing and making sure you live up to your full potential the devs are happy to announce that our backend is now protected by Cloudflare and Graphcdn. These two services give us added layers of protection and performance benefits. Cloudflare is mainly used to protect us against DDoS attacks and serves as an additional layer of security. Graphcdn on the other hand is mainly used for caching. Caching has two benefits in our case: 1) We have faster response times on the website which enhances overall user experience and 2) gives our backend more stability in times of high traffic.
In addition, we focus our work currently on redesigning the backend code which will also include the updated my portfolio page. This will take time and we don’t assume that this will go live before June. (Yes the portfolio page is getting some massage and some smooth slow jam).
We continue to fix small things in the UI here and there, there have been and there will be continuous improvements.
Revenue Sharing
When we lived in Vienna in our first life we, and the Archduke, shared revenue with the local community. As money flowed in from concerts and general gimmicks we took sums and shared parts of it with people. Similarly, in this life we are sharing revenue with you, the fBEETS holders and now 1 fBEET is worth 1.0178 (1.0172 before). Can you hear it? It is growing.
Marketing
On the streets of Vienna in 1810 “yellers” stood on the streets and yelled messages left and right. Back then targeted advertising was a man yelling a message at you as you walked by. We still have challenges today making marketing and advertising as efficient as back then. It was hyper local and personalised. Relevant as f***..
In this life we have a marketing team working on engaging, educating and empowering content and we started the week with a wonderful creative workshop on delivering on our Roadmap v. 0.3.
Furthermore we are going live on youtube with a “how to” series to guide users through the basic processes of the protocol.
Finally this week diving into the overhaul / revamp for the Github Docs. Time for some spring cleaning.
New emissions
On Wednesday the floodgates open for new emissions from Gauge Vote round 8.
Governance
There are currently three votes that are live, they all relate to how our treasury will utilise its revenue. Together we can shape the future of our protocol.
You can cast your vote here
Vote 1:
This vote covers three areas
- USDC from the Sale of the veNFT — Proceeds to be added to a stable protocol Owned Liquidity pool
- BEETS farmed on Tarot — All BEETS farmed will be held in treasury
- Proceeds from LBPs — Liquidity Committee to allocate to Protocol Owned Liquidity
Vote 2:
This vote covers farming on Liquid Driver
Option 1
Max lock the LQDR to mint xLQDR and yield those rewards
- xLQDR rewards are to split:
1. Max lock the LQDR
2. BEETS to be held by treasury
3. Remaining yield to be added to Protocol Owned Liquidity, the allocation to be determined by the
liquidity committee
Option 2
Max lock the LQDR to mint xLQDR and yield those rewards
- xLQDR rewards are to split:
1. BEETS to be held by treasury
2. Remaining yield to be added to Protocol Owned Liquidity, the allocation to be determined by the
liquidity committee
Option 3
Use the farmed LQDR to mint fNFTs
The difference between Option 1 and 2 is we always lock the maximum amount of LQDR
As we have been discussing, the approvals will be batched together, this proposal covers part 1.
Vote 3:
This vote covers the already received Fantom Foundation rewards
Option 1
Split the rewards into two components
- 65% into a Protocol Owned liquidity pool with 70% or more exposure to FTM
- 35% into a stable liquidity pool
Option 2
Split the rewards into two components
- 50% into a Protocol Owned liquidity pool with 70% or more exposure to FTM
- 50% into a stable liquidity pool
Option 3
Use the rewards to acquire some FTM ecosystem tokens and add them to Protocol Owned Liquidity. If needed, in the future these tokens can be used for governance rights to vote in favor of the protocol.
This was a long text on the votes and your options. Give it a thought, give it many thoughts. We have the opportunity to shape the future of our treasury. Let’s write this masterpiece together!
Symphony of the Week
This week’s symphony is a composition played by those alternative layers on which the beautiful DeFi ecosystem is built.
Just like how modern music derives inspiration from multiple genres, so does this week’s feature. With our beloved native Fantom at its core, It’s none other than the beautiful “Beethoven’s Battle of the Bands”.
Upcoming live events
Fireside Chat X-Fund
On Thursday we invite you to join Earthling, Yogi and Mr. Kind in a conversation around the Beethoven X-fund. After the presentation at the town hall earlier this month, the conversation will go deeper on environmental and social activism. It will go deeper on the back story and foundational thoughts on the fund and it will touch on some of the projects that we are looking to support. As we begin to involve the community more and more in the work it is a great way to hear a bit more about what makes the Beethoven X orchestra tick besides the wonders of Defi.
Beethoven X at Tombheads Live NFT Auction
This upcoming Sunday we will join the Tombheads NFT live auction to talk about art, music, creativity and the story of Beethoven X. Two NFTs will be up for grab and go to the highest bidder. Join the show on April 24, 7pm UTC on the Tombheads Discord server.
Partnership with Stader
Stader is coming to Fantom. After their smashing success on Terra we are all bracing for the revolution that is sFTMx. This week they are opening up with a cap, a soft launch and as the pools open on Beethoven X, Spirit and Spooky you will begin to see something quite extraordinary take place. Liquid Staking will be an integrated part of the FTM experience and Beethoven is, as we aim to be the number one DEX on Fantom, obviously one of the launch partners. We can’t wait to see the impacts of Stader on Fantom.
More to come:
Over the next 24 hours we will keep adding some content to this article however we need to get it out and live. We will drop some alpha on a new boosted pool, we will talk about a certain wizard — and this is just week 16. Imagine what week 17 will bring. And 18.
For now — this is it. Ping us on discord for more information. Thank you for all your trust and support. Have an amazing week.
