Bust a move and get your grooove on.
It’s time to get down with da weekly BEETS da-da-da-data!
TVL
Total TVL across both networks is currently $97.7 Million.
🔵 On FTM, TVL is sitting at $46.1 million.
🔴 On OP, TVL is sitting at $51.6 million.
For the past two weeks, Optimism TVL has surpassed FTM TVL for the first time in BEETS history!
Volume
The total volume for the previous week was $29,137,248
🔵 On $FTM, Volume totalled $17,532,586.
🔴 On $OP, Volume totalled $11,604,663.
Liquidity Providers
What about our BEETiful Liquidity providers?
During the past week, Liquidity Providers have earned $59.28K in swap fees and $23.19K in BEETS incentives across both Fantom and Optimism
Pool Performance
Fantom
On Fantom, the BTC/ETH/FTM/USDC weighted wonder ( A Late Quartet) has been surpassed by the newly deployed Oats and Grain pool which has generated a staggering $16.23k in swap fees for the week!
Optimism
Additionally on OP, the same (OATH / GRAIN / FTM / USDC) pool has generated the greatest swap fees for the protocol, totalling $4,265 for the week.
Protocol Revenue
During this past week, 83,512 swaps generated $59,285 in Swap fees, of which $16,792 flowed to the protocol as revenue.
With a Protocol Fee to BEETS ratio of 0.86, this revenue generation has ensured we continue our trend to a positive cash flow protocol!
Meaning, for every $1 in BEETS incentives emitted, we have generated $0.86 in protocol fees.
So, where does all protocol revenue flow?
Two directions.
- Gauge Bounties
- Treasury
Gauge Bounties
A portion of all Beethoven X protocol fees flows back to our #maBEETS holders as Gauge Bounties on Fantom.
In the most recent gauge vote, over $8,155 was offered as BEETS bounties
Treasury
The remaining protocol revenue is utilised to build a sustainable Treasury to ensure Beethoven X’s longevity. To ensure diversification, Beethoven holds treasury assets across 3 different chains.
Fantom
On Fantom, the DAO currently hold $2.51 million in the Treasury wallet.
60.8% of this is actively farming in LP positions.
Optimism
The majority of assets held on the Optimism treasury wallet is the remaining OP grant ($931,801). This OP grant is continuously paired with a portion of generated protocol fees to incentivise the pools on Beethoven X.
Besides the OP, over $400k is actively deployed in LP positions such as the rETH / ETH and USDC / DAI / USDT pool.
Ethereum
The Treasury also holds over $149,952 on Ethereum via AURA, auraBAL and veBAL.
This brings the Treasury’s total holdings to over $4,118,605.
($2,518,536 not including BEETS and OP tokens)
Outro
Beetin’ and Bustin’
Did you groove to the data?
Until next week, you can keep up to date / interact in real-time with the two analytic platforms below
Love as always,
BEET X
