Dear Friends and Fellow Ludwigs,
Welcome to the Symphony of the Week!
This week we are leaning back in the chair, putting on our Beets Headphones and relax to the gentle tunes from the symphony coming from the pool “Fantom Conservatory of Music”. As we glide into the soothing music we will again learn about the melody, the performance and at the end some closing remarks and reflection.
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’s composition is an original concept that features our beloved friends that helped build the amazing network that is Fantom, a place we are grateful to call our home. It’s the beautifully crafted Fantom Conservatory of Music (FTMusic).
Performance
Liquidity for the week gained a total of $220k, closing the week at $1.5m. The 18th to the 20th saw the largest 24h liquidity movements in the week. The 18th was down 10.9%, the 19th up 23% and the 20th down again by 9.9%.
These changes in liquidity were primarily driven by the price movements of the underlying assets; the price of a FTMusic share moved in line with these changes
Rewards
The beginning part of the week saw total APR earned above 78% for a few days. This APR is a combination of Swap Fees and Liquidity Mining rewards. The 15th saw APR hit the high the week at 87%, which equated to a little over $3.3k.
The second half of the week saw rewards drop off with the 53% APR ($2k) on the 19th being the low point of the week.
Reflection
While FTMusic is quite small compared to some of the other symphonies hosted on Beethoven X, it did perform very strongly. Throughout the week, FTMusic was ranked in the top 30 liquidity pools in terms of TVL. For the current week it produced the highest swap APR of 34% of all 30 pools. The strength of our network comes shining through. The music is truly powerful here.
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.
