Concerto Programme — 08

Dear Friends and Fellow Ludwigs,

Welcome to week 8 of the wonderful year of 2022. It has been such an amazing journey thus far, a journey filled with so much joy and so much excitement. Just when we think the music can’t get any louder, you Ludwigs always find the next level on the stereo!

So what’s on the programme for this week’s Concerto?

Gauge Vote Results

The gauge vote has exceeded our expectations since we implemented the initiative and this week has been no exception. New protocols, teams and individuals entered the #BEETSWARS in order to have their say in the BEETS farm emissions and the results are impressive. This week’s vote has seen record breaking numbers across the board and voter’s participation has increased significantly.

Furthermore, as if from nowhere, talented third party composers joined in on the party and have created platforms such as beetswars.live and votehoven.com.

It has been so exciting for us to see the gauge vote take on a life of its own and we are super grateful for the participation from everyone involved. For more information regarding the gauge vote and results check out the final snapshot here and for some “god like stats” check out this awesome breakdown here.

We will be implementing the emission updates for the pools over the next couple of days and will keep you informed as we proceed.

Symphony of the Week: The Dante Symphony

Every symphony is compiled in its own unique way. This week’s composition features two stalwarts of the industry; BTC / ETH respectively and FTM, the asset that is the foundation of our auditorium. In this detailed melody we will learn all about the pool’s performance and offer insights through comparison.

For a more detailed breakdown of the Symphony of the Week check out the medium post here.

Protocol Fee Distribution:

Since our last concerto we have implemented the final two distributions for the protocol fee collected in January. This has increased the conversion rate of Fidelio Duetto to fBEETS to 1.0152.

We look forward to sharing more revenues next month and will make sure to keep the community updated.

NFT:

It has been impressive to see the ‘First collection of the life and times of Ludwig the Undead’ become the NFT collection with the highest weekly trade volume on PaintSwap.

In other exciting news we also gave away the first NFT of our new ‘Mix-tapes and Mementos’ collection to a lucky Early Ludwig in the Ludwig Lounge yesterday. The new collection is where we play, experiment and unleash our full creativity. Unlike other collections, it will be a fluidly growing collection without any particular theme. Every mastermind needs their creative playground. This will be ours.

The collection is still to be minted and submitted to PaintSwap.

Creative Projects

The marketing team have unlocked the creativity metre and are joyfully exploring a multitude of ways to add creative value to protocol. We have a number of projects pipelined and we are excited to share these with the community as they come closer to their realisation. Stay connected to our socials for more info.

Research survey

In light of the upcoming locking initiative for gauge votes, a member of the community has skillfully pieced together a survey to gain insight into the perception behind locking. We will be releasing this survey through our social media platforms soon and we are really excited to see where this potential collaboration may lead.

Meanwhile on the other side of the Cryptoverse the Devs have been hard at work and have a couple of updates for the community.

New Smart Order Routing Live on Staging

What comes after maestros finish their masterpiece? They go and work on the next one. We worked hard on one of our core components over the last few weeks: The Smart Order Routing, or SOR in short. We went through a major refactoring on how the SOR does path finding. It can now generically find routes through all of the nested pool constructs we want to launch into the future (Boosted Pools). It has also had the side effect of finding better routes for many other trades as well. While it’s not live on the main site yet, we want to give you the opportunity to play around with it on the staging site: https://staging.beets.fi/#/trade

Feedback is super welcome on discord in the #bug-report channel. As always, use at your own risk.

Vote delegation strategy

Snapshot’s vote delegation strategy can now be used on Fantom. We’ve been running some tests to see how this could work, especially in regard to bribes. The mechanics of the strategy are still a little confusing and we are not yet sure if we are going to utilise this functionality in the upcoming votes. We will keep the community updated as we make progress.

Rewarder Factory

In our effort to make our farms as a service more permissionless, we have deployed a rewarder factory. The factory automates the whole process of rewarder deployment and configuration with the master chef. Therefore no more dev. intervention is necessary. The factory has passed its first test for the SUPA rewarder and now we are working on building a UI for it to make it even easier for upcoming projects.

As the ecosystem develops and the infrastructures spiral around us we could not be more excited to be part of this wonderful movement. The music has been beautiful and so vibrant and we are continually inspired to contribute to the collective sounds of the DeFi habitat. We have so much in store to share with the community and we are excited to unleash the full potential of the Beethoven Experience over the coming months.

We wish you all the very best for the week ahead and hope to hear from you all soon!