Concerto Programme — 133
Rise and Shine Maestros,
Welcome to another exhilarating week at $BEETS!
We are feeling funkadelically fresh, insightful as ever, and thrilled to compose unto you wonderful Maestros — The Weekly Concerto Programme.
Governance
Let’s begin our symphony with important information regarding BIP-49: Migrating Bridged Beets on Optimism.
Since the joint Balancer and Beethoven X deployment on Optimism, the BEETS token was bridged to Optimism in order to be utilized for liquidity bootstrapping. Issued by the Multichain bridge and launched in May 2022, the BEETS token that is currently available on Optimism is a bridging token. Since the Multichain bridge was hacked and is no longer operational, the BEETS token on Optimism is isolated and can no longer be bridged to Fantom.
This proposal recommended using the OFT (Omnichain fungible token) standard from Layer Zero to deploy a new bridged BEETS token on Optimism. Since the OFT standard does not require liquidity for bridging, BEETS was supported by Stargate to bridge between Fantom and Optimism.
As of 30.09.24, we will officially be closing the migration path from multiBEETS to l0BEETS, any remaining exchanges will be addressed on a case-by-case basis, subject to further review.
For additional information, please refer to BIP-49 or contact our team via DM on Discord:
Gauge Vote
Round 71 of the $BEETS Gauge is still in action as ‘Dogs in the Yard’ soar ahead with $1,589 of the voting bounties placed!
Current total value of rewards sits at $9,336.
This vote is to decide where 50% of BEETS farm emissions flow to from the period of 18th September — 1st October 2024. Today is the last full day to have YOUR say before the voting period ends tomorrow.
Happy voting:
Stay tuned in the Discord for all the latest updates on incentives and more.
Hot Topic
Sonic is moving with haste as Series 04 gets under way!
The Road to Sonic series is a colorful journey through which users can explore the variety of incentivised tasks prior to the eagerly anticipated launch of Sonic.
Beethoven X will be migrating to Sonic in the coming months, and our task in series 04 of the Road to Sonic series is to add liquidity to the USDC.e/sFTMx ‘Staked Fantom & Circle Symphony’ pool.
Hit the link and join the series. Become a Sonic OG:
BEETS DA-DA-DA DATA
Maestros, the data drop can only mean one thing; we have reached the end of our symphony.
Alongside the charming music we seem to render in illustrious fashion, the numbers remain a crucial aspect of our ecosystem. And this week, TVL increased by 10.07% with a 9.24% increase in DAO treasury valuation, it’s time to bust a move and get your groove on!
Take a dive into episode 73:
Outro
Here at $BEETS, we are looking ahead to a bright future, and week by week, we feel the excitement brewing!
The migration to Sonic is upon us, the gauge vote is as competitive as ever, and the ecosystem seems to grow with every step we take together.
Let’s keep moving, Ludwigs.
Love always,
Beethoven X
