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 $29,198,933 (-5.85% compared to last week)
🔵 On FTM, TVL is $12,466,631 (-7.13%)
🔴 On OP, TVL is $16,732,302 (-4.88%)
Volume
The total volume for the previous week is $16,337,263 (-18.99% compared to last week).
🔵 On Fantom, Volume totaled $2,257,182 (-49.80%)
🔴 On Optimism, Volume totaled $14,080,081 (-10.15%)
Liquidity Providers
What about our BEETiful Liquidity providers?
During the past week, Liquidity Providers earned $7.02K in swap fees and $14.26K in BEETS incentives across both Fantom and Optimism.
Pool Performance
Fantom
On Fantom, ‘+EQ : Bass Boosted 🎛’ (EQAUL/sFTMx) has generated 14.6% of the weekly swap fees, totalling $626. This was followed by Fantom Layer of the Opera’ (wFTM/lzUSDC) which generated $380.
Optimism
This week on OP, ‘A Night at the OPara’ (OP/PSP) has pulled in the most swap fees for liquidity providers, generating a total of $549 for the week. This was followed by ‘Native Stable Beets’ (USDC/USDC.e/USDT/DAI) with $444.
Yield Capture
Across both chains, ‘Ethereum Triplets’ (rETH/wstETH/sfrxETH) has captured users the most in Yield fees, bringing in $3,047 for the week. The second highest fee generator of the week is ‘Gyroscope ECLP wstETH/WETH’ bringing in $1,441.
Protocol Revenue
During this past week, the protocol generated $7,024 in Swap fees. $8,295 was also generated via Yield Bearing tokens hosted on the protocol, of which, $3,729 flowed to the protocol as revenue. In total, $6,096 flowed to the protocol as revenue.
This week our Protocol Fee to BEETS ratio rounds out at 0.5.
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.
With evolutions and optimizations, the BEETS WARS has slowly taken a new form — BEETS WARS 2.0. Check out the following article for everything you need to know on the Beets gauge vote.
In the last gauge vote, over $16,000 of incentives were offered as Beets bounties.
Check out the latest round here:
Treasury
The remaining protocol revenue is utilized to build a sustainable Treasury to ensure the longevity of Beethoven X. To ensure diversification, Beethoven holds treasury assets across 3 different chains.
Fantom
On Fantom, the DAO currently holds $1,376,355 in the treasury, up $25,966 compared to last week. $632,237 is held in liquid tokens whilst $744,118 is actively deployed in farming positions.
Top DAO Farming positions on Fantom
- Layered & Staked Fantom Opera (sFTMx/lzUSDC) on Beethoven X — $249,892
- Fantom Layer of the Opera (wFTM/lzUSDC) on Beethoven X — $221,146
- Trio of the Stables (lzUSDC/axlUSDC/USDC.e) on Beethoven X — $120,628
- Staked Fantom & Circle Symphony (USDC.e/sFTMx) on Beethoven X — $63,426
- sFTMx/BEETS liquidity pool on Equalizer —$59,372
Optimism
The Beethoven X DAO holds $1,977,247 in treasury assets on Optimism, down $124,534 compared to last week.
The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($766,405). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.
Besides the OP, $1,085,703 is actively deployed in LP positions.
Top DAO Farming Positions on Optimism
- Rocket Fuel (rETH/ETH) on Beethoven X (Staked in Aura) — $514,624
- Roast Beets (rETH/lzBEETS) on Beethoven X — $280,172
- Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked in Aura) — $156,079
- Native Stable Beets (USDC/USDC.e/USDT/DAI) —$134,824
Ethereum
The Treasury also holds over $835,819 of assets on Ethereum, down $15,369 compared to last week. This is predominantly in stablecoins ($365,370), although there is also $108,845 actively deployed in farming positions.
Top DAO Farming Positions on Ethereum
- AURA locked as vlAURA on Aura Finance — $61,079
- veBAL pool (BAL/ETH) on Balancer —$47,597
Totals
This brings the Treasury’s total holdings to over $4,189,421 (Down 2.65% compared to last week)
( $2,866,194 not including BEETS and OP tokens)
sFTMx
As of the 15th of February 2024, the Beethoven X DAO is now officially the new owner of Fantom’s no. 1 LST, sFTMx. Combined with the yield-bearing native Beets tech stack, Beethoven X is now positioned as THE yield-bearing hub of the Fantom blockchain.
For all the juicy details dive into the article below:
Currently, 15,065,332 FTM is staked (+3.43% compared to last week), with 685,254 FTM in the free pool. This brings the total to 15,750,586 FTM (+1.78%), with an overall value of $11,315,666.
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
