Bust a move and get your groove on.
It’s time to get down with da weekly BEETS da-da-da-data!
The Multichain fallout continues maestros! This week we noticed another inconsistency in the data for the ‘A Late Quartet’ pool. This is due to some Multichain assets still being priced incorrectly. In light of this, the pool’s data has been excluded from the Data Drop this week (apart from the Fantom pool comparison section). We are working to resolve this issue ASAP.
TVL
Total TVL across both networks is sitting at $25,259,802
🔵 On FTM, TVL is $6,735,145
🔴 On OP, TVL is $18,524,657
Volume
The total volume for the previous week is $10,820,446
🔵 On Fantom, Volume totaled $1,607,259
🔴 On Optimism, Volume totaled $9,213,188
Liquidity Providers
What about our BEETiful Liquidity providers?
During the past week, Liquidity Providers have earned $5.44K in swap fees and $4.26K in BEETS incentives across both Fantom and Optimism.
Pool Performance
Fantom
On Fantom, ‘A Late Quartet’ (wBTC/wETH/FTM/USDC) has generated 25.1% of the weekly swap fees totaling $611.36.
*Please note the announcement at the start of this article.
Optimism
This week, on OP, the ‘Rocket Fuel’ pool has pulled in the most swap fees for liquidity providers, generating a total of $1,629 for the week.
Yield Capture
Across both chains, ‘Rocket Fuel’ has captured users the most in Yield fees, bringing in $4,974 for the week. The second highest fee generator of the week is ‘Gyroscope ECLP wstETH/WETH’, our new concentrated liquidity pool which recently overtook its non-concentrated counterpart, ‘Shanghai Shakedown’, in TVL.
Protocol Revenue
During this past week, the protocol generated $5,441 in Swap fees. $8,065 was also generated via Yield Bearing tokens hosted on the protocol, of which, $3,593 flowed to the protocol as revenue.
In total, $5,784 flowed to the protocol as revenue.
This week our Protocol Fee to BEETS ratio rounds out at 1.27.
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 174,000 BEETS were offered as BEETS bounties.
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 $491,810 in the Treasury wallet.
Down compared to last week by roughly $100k.
Top DAO Farming positions on Fantom
- Fantom Layer of the Opera (FTM/USDC) on Beethoven X — $194,830
- BEETS Liquidity Pool on Tarot — $11,118
- Locked LQDR pool on Liquid Driver — $5,196
Optimism
The Beethoven X DAO holds $1,089,117 in Treasury assets on Optimism.
The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($547,720). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.
Besides the OP, $515,688 is actively deployed in LP positions.
Top DAO Farming Positions on Optimism
- Rocket Fuel (rETH/ETH) on Beethoven X (Staked in Aura) — $297,934
- Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked in Aura) — $89,784
- Optimistic Steady Beets (USDC/DAI/USDT) on Beethoven X — $84,149
- House of the rising Sonne(USDC/DAI/USDT) on Beethoven X — $32,457
Ethereum
The Treasury also holds over $1,101,117 of assets on Ethereum. This is predominantly in stablecoins ($788,299), although there is also $91,341 actively deployed in farming positions.
Top DAO Farming Positions on Ethereum
- AURA locked as vlAURA on Aura Finance — $65,567
- veBAL pool (BAL/ETH) on Balancer — $25,774
Totals
This brings the Treasury’s total holdings to over $2,682,044 (down 8.18% since last week)
( $1,977,067 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
