Dear Friends and Fellow Ludwigs,
Welcome to another beautiful week.
Damn, how lucky we are?! Open your eyes, and look around you! The tunes are blaring and the Ludwigs are getting downnn. Isn’t it beautiful? A collective of like-minded maestros dreaming of a brighter future where freedom, exploration, and curiosity dance around the sound waves. Magical!
Get lost in the music, realise where you are, where you’ve come from, and the adventure of the journey ahead!
We are all moving forward together, and so much has been happening. Take a dive into the Concerto programme and find where our journey will take us this week!
Tech / Developments
Ahhhh, to be or not to be? That is the question. Well, the answer to that is definitely to be Dev’in!
Although the macro environment has been a little, shall we say slow as of late, the Devs have been hard at work BUIDLling for the future. With the focus geared towards a sustainable, innovative DEX the tech team has been working on making sure that the supporting infrastructure is in place to facilitate the roll out of the new Boosted Pools; from subgraph / backend customisations to frontend tweaks things are shaping up nicely for their integrations. Bring on the future!
As we roll out the Boosted Pools and centre liquidity around a fleet of core pools sporting the latest tech it becomes important that we hook them up into aggregators for support.
Aside from Boosted Pools, another major piece of work in the pipeline is building out the framework for the Reliquary. If the initiative is voted in for future implementation, the Dev team looks to have everything set up for a beta launch towards the end of October.
The constant grind for perfect ever pervades and minor fixes and improvements are always under way. On top of it all, the groundwork for a ‘my portfolio’ section on the new UI is beginning to take shape and is looking to be integrated in the near future.
DeFi is a new frontier in so many respects; not only does it democratize financial instruments, but it provides people the power to have their voices heard. Every team approaches the topic of governance structures differently. This is a new path, and we are all pioneers in a frontier for collective decision-making. The essential question that teams must ask is: How collective should that decision-making be? At Beethoven X, we believe that ensuring our Ludwigs play a pivotal part is, well… pivotal.
Last week the Beethoven X DAO framework was put forward for all maestros to digest and give feedback. Last night we then broke down any questions that may have arisen in a fireside chat! The formation of this DAO is a step we have taken to ensure that every one of our users continues to play an inclusive role in what we are creating. Via the new framework, anyone who wishes to ingrain deeper with the governance structure has a path to get there.
- veBAL voting power — The proposal to acquire veBAL, auraBAL, and vlAURA to complement the emissions from bribing has passed. $75k of Treasury funds will be used as an upfront purchase to acquire each asset, as well as a change in the protocol fee distribution on Optimism. Read the full proposal here:
Proposals under discussion
- Due to a cascade of different events, implementing locking for fBEETS was put on hold. It turns out that this may have been a blessing in disguise; during the past few months, we have had a moment to reflect and potentially readjust the course of our direction. We believe the Reliquary is a promising alternative to the locking initiative we planned and have raised the discussion around swapping to this model. You can dive into the discussion here:
We are so fortunate to be blessed with intelligent and motivated individuals who offer their wisdom to help propel us into an even more promising future. Pride and gratitude are all we can feel when we look back at how far we have come, and with the new framework, we can’t wait to see where the future of Beethoven X governance takes us.
Beethoven X — Bug Bounty Program
When it comes to DeFi the most important base layer and one which is often overlooked by the masses is security. Without a bulletproof foundation that has been put through rigorous testing, users are exposed to elevated risk factors that compromise safety and adoption. By prioritising security and investing in initiatives like bug bounties / smart contract audits protocols can actively combat many of the security risks inherent to the industry.
We are super proud to be announcing the official launch of the Beethoven X bug bounty program in collaboration with ImmuneFi. To learn more about the bounty and how you can get involved check out the following article:
There is a lot going down in the Beethoven X household and it can be hard to keep up to speed. That, combined with how fast DeFi evolves and the rate at which the technology is being developed makes it almost impossible to stay on top of the ball.
Fear not, aspiring maestros, we have got you covered!
Last week a proposal was initiated that seeks to shift the current locking mechanism towards the adoption of the Reliquary instead.
Learn all about the Reliquary, what it has in store for Beethoven X and the benefits for its implementation. Get stuck in!
Battle of the BEETs
BOTB is really starting to pick up momentum and with the first wave of contestants having hit the stage, it’s been an exciting week. The competition has been fierce and the talent is simply off the charts.
Check out this recent thread to keep up to date with all the gossip:
BEETS are back at it again!! Another wave of the bi-weekly Gauge Vote has been completed and we would love to give a big shoutout to everyone who participated. The emission updates for pools will be implemented this Wednesday and the final results for Round 19 can be found in the Tweet below.
There is so much music out there it’s hard to listen to it all! We try our best to keep it all lined up; here are the gigs scheduled for this week:
Tech Tuesdays: Back by popular demand, Tech Tuesdays is slowly becoming a household name. Sit back, relax and join us for a down-to-earth chat with the team on all things TECH. There is no structure to these conversations, just an informal back and forth with yours truly! Bring your questions to the table, big and small, we love to hear your thoughts. Tune in on our Discord this Tuesday at 18:00 UTC.
Weekly Community breathe: Feel like it’s all getting a little too much? Or perhaps you just want to take things to the next level — elevate! The breath is central to many inner practices and plays a major role in the regulation of our nervous systems. From general well being to focused inner work, a consistent breath work practice is almost certainly going to add value to your journey. Join us on Wednesday at 09:00 PM UTC for a community breathwork session with Yogi Astralnaut.
Beethoven X Fund: It’s been a while since we had a chat about people and the planet. DeFi is amazing but there is also more to life and we love to help out where we can. Join us this Friday at 1pm UTC for a fireside chat and update on the X Fund. We will be giving an update to the community on what has been going on recently, a deep dive on projects we are supporting, greenhouse gas accounting and a little scope for the future. Be there or be square.
A week full of fun is pretty much guaranteed!
There is nothing we love more than to be making progressive music that could potentially ignite a spark of change for the future. Not only are we super lucky to be out here making our dreams become a reality; but we get the absolute pleasure of doing it alongside the best community an undead composer could ask for.
So here is a toast to you dear Ludwigs, we couldn’t do this without you. Take a sip, put on your favourite record and relax as the music unfolds!
Love as always,