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 $29,755,399 (-1.68% compared to last week)
🔵 On FTM, TVL is $11,689,213 (+2.71%)
🔴 On OP, TVL is $18,066,186 (-4.33%)
Volume
The total volume for the previous week is $19,233,569 (-35.04% compared to last week).
🔵 On Fantom, Volume totaled $4,758,404 (-29.70%)
🔴 On Optimism, Volume totaled $14,475,165 (-36.62%)
Liquidity Providers
What about our BEETiful Liquidity providers?
During the past week, Liquidity Providers earned $8.23K in swap fees and $15.04K in BEETS incentives across both Fantom and Optimism.
Pool Performance
Fantom
On Fantom, ‘Staked Fantom & Circle Symphony’ (sFTMx/USDC.e) has generated 25.8% of the weekly swap fees, totalling $1,426. This was followed by ‘Fresh BEETS’ (wFTM/BEETS) which generated $706.
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 $485 for the week. This was followed by ‘Gyroscope ECLP wstETH/WETH’ with $475.
Yield Capture
Across both chains, ‘Ethereum Triplets’ (rETH/wstETH/sfrxETH) has captured users the most in Yield fees, bringing in $2,563 for the week. The second highest fee generator of the week is ‘Fantom Menace’ (sFTMx/wFTM) bringing in $1,983.
Protocol Revenue
During this past week, the protocol generated $8,233 in Swap fees. $9,572 was also generated via Yield Bearing tokens hosted on the protocol, of which, $4,104 flowed to the protocol as revenue. In total, $6,658 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 $8,000 of incentives were offered as Beets bounties.
Check out the results from the last 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 $1,028,264 in the treasury, down $15,915 compared to last week. $435,233 is held in liquid tokens whilst $593,031 is actively deployed in farming positions.
Top DAO Farming positions on Fantom
- Staked Fantom & Circle Symphony (USDC.e/sFTMx) on Beethoven X — $402,823
- Trio of the Stables (lzUSDC/axlUSDC/USDC.e) on Beethoven X — $121,009
- sFTMx/BEETS liquidity pool on Equalizer — $45,824
Optimism
The Beethoven X DAO holds $1,845,906 in treasury assets on Optimism, down $37,879 compared to the last Data Drop.
The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($522,498). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.
Besides the OP, $1,163,838 is actively deployed in LP positions.
Top DAO Farming Positions on Optimism
- Rocket Fuel (rETH/ETH) on Beethoven X (Staked in Aura) — $612,002
- Roast Beets (rETH/lzBEETS) on Beethoven X — $230,389
- Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked in Aura) — $184,670
- Native Stable Beets (USDC/USDC.e/USDT/DAI) — $136,410
Ethereum
The Treasury also holds over $805,685 of assets on Ethereum, down $17,285 compared to last week. This is predominantly in stablecoins ($320,354), although there is also $111,376 actively deployed in farming positions.
Top DAO Farming Positions on Ethereum
- AURA locked as vlAURA on Aura Finance — $66,302
- veBAL pool (BAL/ETH) on Balancer — $44,651
Totals
This brings the Treasury’s total holdings to over $3,679,855 (Down 1.89% compared to the last Data Drop)
($2,723,548 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, 20,334,961 FTM is staked (+1.35% compared to the last Data Drop), with 379,889 FTM in the free pool. This brings the total to 20,714,850 FTM (+1.91%), with an overall value of $11,690,964.
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
