Dear Friends and Fellow Ludwigs,
Welcome to the Symphony of the Week!
This week we are blasting the stereo up to 11 and listening to a symphony coming from the pool “A Late Quartet”. As we zone out to the flamboyant tunes we will again learn about the melody, the performance and offer insights through comparison.
Disclaimer:
At Beethoven X we like to enjoy all kinds of music, rock, jazz, classical, trip hop, each symphony is unique in its design. So while we may applaud the show, it doesn’t mean we think you should buy a ticket
About the Melody
This week we are very excited to feature a composition that wasn’t with us from the start, but it’s combination of assets brought in many fans. Like Enter Sandman to Metallica. Like The The Magic Flute to Amadeus.
It features four assets right at the very heart of the FTM network; they are the foundation of many successful shows not only here at Beethoven X but across the entire industry. It’s none other than A Late Quartet (LQ)
Performance
The earlier part of the week brought in the highest volumes. March 6th saw volume peak for the week at $16m, it was predominantly driven by decreases in price of FTM (16.75%) , ETH (4.25%) and BTC (2.7%). These negative price movements together with pool exits (8.6% of existing BPTs were burned) meant that the TVL dropped by $5.3m on that day.
From then volumes declined, reaching a low for the week of $9.2m before seeing an upturn.
This came on March 10th when we saw the largest increase in TVL. This was driven by new deposits into the pool where 57k new BPTs were minted.
The week came to a close with a drop in TVL of $7.5m as a result of 60k BPS being burned.
The changes in price across all three volatile assets meant that both March 10th and 11th saw volumes of over $12m
Comparison
During the week, LQ earned $210k for it’s liquidity providers, with the highest return of $38k achieved on the 6th.
When we look at pool performance once this always at the back of our mind is impermanent loss, for this week, that loss was 0.29%.
This only factors in if you hold those assets, but as we have come to learn, there are additional yields across the network.
Based on yearn rates, at the time of writing, the weekly yield for these assets were:
wBTC — 0.12%
wETH — 0.35%
wFTM — 22.69%
USDC — 1.02%
It’s because of this, that we are very pleased to bring to you our very special and unique a Late Quartet, Yearn Boosted pool… because why shouldn’t we have it all.
Not Financial Advice
This feature should under no circumstances be considered financial advice. Each Beethoven X pool is unique and carries the risks of all the underlying digital assets. Featuring on the Symphony of the Week is only a review of past performance. It doesn’t not represent an endorsement of any of the protocols or their digital assets. Beethoven X users should only invest according to their individual risk limits.
Remember that a liquidity pool is only as good as its weakest token. If a token were blacklisted, infinitely minted, frozen, or exploited in any other way, the value of a pool could go to 0. Beethoven X is never liable for losses incurred through using our UI or the Beethoven X protocol. Be careful, and do your own research.
