Concerto Programme — 107
Rise and Shine Maestros,
Welcome to another beautiful week at BEETS. Funkadelically FRESH and always insightful, let’s dive into the weekly Concerto Programme.
Protocol Sweep
Maestros, I present to you, the protocol revenue results for the month of February:
At the time of collection, fees totalled $34.5k
🔵 $6.8k (19.7%) of the fees were generated on Fantom
🔴 $27.0k (78.2%) were generated on Optimism
⚫️ $0.7k (2.1%) were generated from sFTMx (The fees from sFTMx were only partial in multiple ways and thus not representative of future values)
Compared to January results:
⬆️ Fantom fees increased by 61.3%
⬇️ Optimism fees decreased by 21.1%
Collected fees were deployed in the following way:
Held on Optimism
- $21.3k was used to buy OP to be paired with our Optimism grant and used as incentives
- $1.8k was used to buy OP to use as Roast Beets incentives under BIP-52
Treasury
- $3.0k was converted to 4471 Fantom Menace BPTs
- $2.5k was saved as USDC on Optimism treasury
- $1.5k will be used to acquire vlAura
maBEETS voting incentives
- $4.5k was used to obtain 6659 Fantom Menace BPTs to be used as Fantom gauge vote bounties in March.
Governance
It’s time to have your say — Two new proposals have entered the discussion period!
First up, we’ve got a big one! This proposal looks to set the sFTMx protocol revenue distribution. At Beethoven X, our governance holders come first and this time is no different, with a split of 50% to maBEETS holders via bounties, 40% to the Beethoven X DAO Treasury, and 10% to Stader Labs as part of the takeover agreement.
The second proposal looks to commission a custom maBEETS integration into Paintswap’s fNFT marketplace allowing relics to be freely traded. The integration comes with a stacked feature set with all the details you could ask for displayed right on the UI.
For all the juicy details and to join the discussion hop into our Discord!
Gauge vote
The weeks are just flying by and the next round of the Beethoven Gauge Vote is just on the horizon.
Don’t miss the opportunity to have your say in BEETS emissions during the period of the 20th of March to the 2nd of April.
50% of the BEETS farm emissions are decided by the maBEETS gauge and the next round will start this Thursday!
Social Science Lab
Coming in hot, we’ve got a special broadcast from DeFi’s favourite social science lab.
Join us in a groundbreaking exploration of the dynamic world of crypto communities.
Sound interesting? Dive into the survey HERE
Completing the questionnaire will take approximately 15 minutes, and your participation is entirely voluntary. Rest assured, any data collected will be handled with the utmost confidentiality and reported anonymously.
If you identify with any of the following communities — Optimism, Velodrome, BeethovenX, Balancer, or OATH — we want to hear from you.
Thank you for contributing your valuable insights!
Josey, Faun, & Erudraeth
BEETS DA-DA-DA DATA
The BEETS data series is running strong.
Light work and easy reading these little gems are meant to keep you up to date with the most essential performance metrics at Beethoven X.
Dive into episode #48 below.
Live Events
Towntastically terrific. The monthly gathering is just around the corner.
Join us this Thursday (March 14th) in Discord for a breakdown of the month of Feburary.
We’ll be diving into the monthly performance report before opening the floor for a good old Q&A.
See ya there.
Outro
The sun is shining Ludwigs and the weather is sweet!
We hope everyone out there is still groovin’ to the BEETS. More challenging times out there for sure but we’re out here building and fully committed to the mission. There is plenty in the pipeline to look forward to and we’re stoked to have you all here with us!
Have a great week and stay FRESH maestros!
Beet X
