Bust a move and get your groove on.
It’s time to get down with da weekly BEETS da-da-da-data!
TVL
Total TVL across both networks is sitting at $39,049,085 (-6.75% compared to last week)
🔵 On FTM, TVL is $8,930,072 (-16.35%)
🔴 On OP, TVL is $30,119,013 (-3.47%)
Volume
The total volume for the previous week is $11,929,395 (-50.20% compared to last week).
🔵 On Fantom, Volume totaled $2,088,184 (-14.33%)
🔴 On Optimism, Volume totaled $9,841,211 (-54.27%)
Liquidity Providers
What about our BEETiful Liquidity providers?
During the past week, Liquidity Providers earned $12.35K in swap fees and $10.19K in BEETS incentives across both Fantom and Optimism.
Pool Performance
Fantom
On Fantom, ‘Dropping the fBOMB’ (wFTM/fBOMB) has generated 15.8% of the weekly swap fees, totaling $1,118. This was closely followed by ‘Fantom Layer of the Opera’ (wFTM/lzUSDC) which generated $1,058.
Optimism
This week on OP, ‘Happy Road’ (wETH/OP/USDC.e) has pulled in the most swap fees for liquidity providers, generating a total of $1,231 for the week. This was followed by ‘A Night at the OPara’ (OP/PSP) with $1,075.
Yield Capture
Across both chains, ‘Ethereum Triplets’ (rETH/wstETH/sfrxETH) has captured users the most in Yield fees, bringing in $6,510 for the week. The second highest fee generator of the week is ‘Gyroscope ECLP wstETH/WETH’ bringing in $4,342.
Protocol Revenue
During this past week, the protocol generated $12,350 in Swap fees. $14,263 was also generated via Yield Bearing tokens hosted on the protocol, of which, $6,984 flowed to the protocol as revenue. In total, $11,199 flowed to the protocol as revenue.
This week our Protocol Fee to BEETS ratio rounds out at 1.37.
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.
Following a recent proposal, the BEETS Wars is hitting a high note! All gauge bounties will now be placed on Redacted Finance’s Hidden Hand voting market.
In the latest gauge vote, over 3000 BPTs will be offered as bounties.
Check it out here:
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 $814,082 in the treasury wallet, down $105,445 compared to last week. $501,867 is held in liquid tokens whilst $312,215 is actively deployed in farming positions.
Top DAO Farming positions on Fantom
- Fantom Layer of the Opera (FTM/USDC) on Beethoven X — $302,217
- Locked LQDR pool on Liquid Driver —$6,883
Optimism
The Beethoven X DAO holds $2,237,677 in Treasury assets on Optimism.
The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($1,219,201). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.
Besides the OP, $928,009 is actively deployed in LP positions.
Please note: The lzBEETS price is yet to be updated on DeBank and are currently showing as valueless.
Top DAO Farming Positions on Optimism
- Rocket Fuel (rETH/ETH) on Beethoven X (Staked in Aura) —$396,963
- Roast Beets (rETH/lzBEETS) on Beethoven X — $278,023
- Native Stable Beets (USDC/USDC.e/USDT/DAI) — $133,005
- Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked in Aura) — $120,015
Ethereum
The Treasury also holds over $908,409 of assets on Ethereum. This is predominantly in stablecoins ($490,946), although there is also $95,524 actively deployed in farming positions.
Top DAO Farming Positions on Ethereum
- AURA locked as vlAURA on Aura Finance — $60,612
- veBAL pool (BAL/ETH) on Balancer — $34,729
Totals
This brings the Treasury’s total holdings to over $3,960,168 (Down 5.05% compared to last week)
( $2,283,911 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
