Bust a move and get your groove on.
It’s time to get down with da weekly BEETS da-da-da-data!
BEETs Special Broadcast
Due to the recent Multichain drama, this week’s edition of the DataDrop will only report on the Optimism and treasury numbers. The depegging of Multichain assets has caused a discrepancy in the subgraph pricing of some Beets assets in relation to their liquidity pairs. As the Multichain assets are losing value, it is showing an increase in the paired tokens' value while showing the stable asset as higher than it is. As a result, lookerstudios is displaying inflated and inaccurate numbers, so these will therefore be excluded from this week’s drop. The Beethoven X wizards have now resolved the issue but data collected in the first couple of days remains incorrect. We will be back to regular reading next week. Enjoy!
TVL
🔴 On OP, TVL is $25,577,097
Volume
🔴 On Optimism, Volume totaled $10,473,062
Liquidity Providers
What about our BEETiful Liquidity providers?
During the past week, Liquidity Providers have earned $3.68K in swap fees.
Pool Performance
Optimism
This week, on OP, the ‘Rocket Fuel’ pool has pulled in the most swap fees for liquidity providers, generating a total of $1,141 for the week.
Yield Capture
On Optimism, Rocket Fuel has captured users the most in Yield fees, bringing in $8,944 for the week. The second highest fee generator of the week is Shanghai Shakedown.
Protocol Revenue (Optimism Only)
During this past week, the protocol generated $3,683 in Swap fees. $11,009 was also generated via Yield Bearing tokens hosted on the protocol, of which, $5,131 flowed to the protocol as revenue.
From Optimism, $6,861 flowed to the protocol as revenue.
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 recent gauge vote, over 250,000 BEETS were offered as BEETS bounties.
In relation to proposal bip-45, the gauge voting was altered and it is yet not possible to restart our usual routine of determining BEETS bounties based on contribution. In light of this, it was decided to include a “Music Directors’ distribution” option in the vote and place all bounties from Beethoven X there. The emissions determined by that option will be decided by Music Directors and may be shifted during the epoch as possible new partnerships and/or partnership pools arise.
Treasury
The remaining protocol revenue is utilized 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 holds $524,983 in the Treasury wallet.
Top DAO Farming positions on Fantom
- BEETS Liquidity Pool on Tarot — $16,275
- Locked LQDR pool on Liquid Driver — $7,071
Optimism
The Beethoven X DAO holds $1,095,132 in Treasury assets on Optimism.
The majority of the Optimism treasury wallet assets are the remaining OP grant funds($602,310). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.
Besides the OP, over $459,520 is actively deployed in LP positions.
Top DAO Farming Positions on Optimism
- Rocket Fuel (rETH/ETH) on Beethoven X — $334,371
- Optimistic Steady Beets (USDC/DAI/USDT) on Beethoven X — $84,055
- House of the rising Sonne(USDC/DAI/USDT) on Beethoven X — $32,420
Ethereum
The Treasury also holds over $1,396,221 of assets on Ethereum.
Top DAO Farming Positions on Ethereum
- AURA locked as vlAURA on Aura Finance — $89,176
- veBAL pool (BAL/ETH) on Balancer — $31,500
Totals
This brings the Treasury’s total holdings to over $3,034,336 (down 5.46% since last week)
($2,205,101 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
