Dear Friends and Fellow Ludwigs,
Welcome to the Symphony of the Week!
This week we are listening to a symphony coming from the pool “Fantom of the Opera”. We will again learn about the melody, the performance and offer insights and reflections on the future.
Disclaimer:
At Beethoven X we like to enjoy all kinds of music, 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 feature a symphony that is at the very heart of the Beethoven X Orchestra.
It’s unique weighting between FTM-USDC is unmatched anywhere. It makes it our main act and keeps the crowds demanding encore after encore… It’s none other than our beautifully written Fantom of the Opera (Opera)
Performance
The Opera had a slow start to the week registering only $3.7m in volume on the 20th of Feb. However, as the week progressed the volatility in the market saw an increase in volumes and fees flow into the pool.
The 22nd brought the biggest liquidity drop of $3.9m. The 23rd saw things move in the opposite direction where $4.6m came flowing back into Opera, resulting in the highest daily liquidity rise of the week. These movements were driven by Liquidity Provider (LP) activity in the form of exits and entries into the pool.
The 24th was The Opera’s best performing day of the week, here volume reached the weekly high of $12.9m. The fees for the day were just short of $34.5k, accounting for a little over 20% of the entire Beethoven X fees on that day.
The rest of the week saw liquidity rise ending the week on a high of $37.9m, this was more driven by FTM price appreciation compared to the impacts of LP activity we saw earlier in the week.
Final Thoughts
The Fantom of the Opera is one of the first symphonies released in the show that is Beethoven X. It’s reduced impermanent loss and ease of access, through single asset deposits, has made it a fan favorite on the network.
Opera is the second largest liquidity pool on Beethoven X. While it is a pool we are extremely proud of we will continue to look for ways to “boost” our liquidity providers returns.
A quick look around our protocol will show you a glimpse of what the future may look like, and we are very excited about the direction in which it is heading.
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.
