Concerto Program 129
Rise and Shine Maestros,
Welcome to yet another glorious week at BEETS! We’re feeling freshly FUNKADELIC, insightful as ever, and prepared to dive deep into the weekly Concerto Programme.
Governance
The party never stops, Ludwigs!
Here’s a swift reminder to check out some of the recent proposals running through the BEETS DAO.
BIP-71: Recover FTM from Validator 167
Validator 167 on Fantom had its wallet compromised, leading to the loss of staked FTM. Beethoven X had delegated 1M FTM to this validator through sFTMx, which is currently not earning rewards. To recover the funds, Beethoven X developed and tested a contract that allows them to unstake the FTM without affecting sFTMx holders. The penalty for early withdrawal is increasing daily, so the proposal seeks quick approval to minimize costs and re-stake to a different validator, with the current penalty at 3.3k FTM.
BIP-72: Increase Self-Stake on Beethoven X Validator.
Beethoven X proposes to increase the self-stake of their Fantom validator by 100,000 FTM, doubling the delegatable amount to 3 million FTM. This follows the approval of BIP-67, which initially set the self-stake at 100,000 FTM. The validator has reached its delegation limit, so this increase will allow for more delegations. The funds will be drawn from the DAO’s treasury, with the plan to eventually migrate the validator to Sonic once the chain is live. The validator has been operating without issues.
Gauge Vote
May the force BEET with you!
Another wave of the bi-weekly Gauge Vote has been completed and the votes are in. This round, over $11,500 worth of incentives were offered as BEETS bounties.
Check out the final results for Round 69 below:
Optimism Grant
Rollup Town Folk, it’s time to be $OP $OP $OPtimistic!!
For the next 9 weeks, we’re turning up the music on Optimism with 7,000 weekly $OP rewards flowing to $ETH LST/LRT Pools.
For those unaware, as a layer 2 protocol, Optimism improves the scalability of the Ethereum network by conducting hundreds of transactions OUTSIDE of the blockchain and adding them into the Ethereum network as one (gasps).
Hot Topic
It’s official: Sonic’s waves are pumping!!
As Sonic fast approaches, take part in a quest by completing an exciting series of tasks to be eligible for the first-EVER Sonic Shard NFT.
Let’s be vigilant in planning our relocation and mindful when making alterations to our current protocol structure. But most importantly, nothing BEETS getting amped up, Maestros, so LET’S. GET. EXCITED!!
Hop into the tweet below and join The Road to Sonic Series:
BEETS DA-DA-DA DATA
That’s right, Ludwigs!
The BEETS data series is going from strength to strength.
Designed to keep you on track with the most essential performance metrics at Beethoven X, reading these data packages keeps us all on the same page.
Take a dive into episode 70:
Outro
The sun is shining brightly, Ludwigs, and we hope everyone continues to $OP to the BEETS. We’re diligent in making sure that the rhythm never stops and the music keeps playing. So stay groovy and electrified because there is A LOT to look forward to!
Have a smooth sailing week and stay FRESH Maestros!
