Concerto programme — 70
Rise and Shine Maestros,
Welcome to another beautiful week at BEETS. Funkadelically FRESH and always insightful, let’s dive into the weekly Concerto Programme.
Governance
With the recent complications surrounding the multichain bridge on Fantom, an emergency governance proposal was put forward to the community.
To mitigate risk, the proposal looked to have the Beethoven-X Fantom multi-sig withdraw the DAO’s significant BPT liquidity positions in the treasury and then bridge the exposed tokens to a chain where they are native.
The proposal passed with 68.3% in favour of its implementation. As of now, all of the stated positions have been withdrawn and the respective tokens bridged.
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 for the period of 15–28th of June.
50% of the BEETS farm emissions are decided by the maBEETS gauge and the next round will start this Thursday.
Protocol Sweep
Maestros, the month of May hath come to an endeth and that can only mean one thing — it’s time for a fee sweep.
At the time of collection, fees totalled $54.3k:
- $22.0k (40%) of the fees were generated on Fantom
- $32.3k (60%) were generated on Optimism
Compared to April results: Fantom fees decreased by 28.5% and Optimism fees increased by 2.5%.
The $54.3k was deployed in the following way:
- $16.1k was held to be paired with our OP grant to be deployed as liquidity mining incentives.
- $16.1k was added into the Treasury to House of the rising Sonne
- $11.3k was used to acquire a combination of veBAL, vlAura and auraBAL.
- $11.4k (501k BEETs) will be distributed as maBEETS voting incentives during June’s gauges.
The 8020 Initiative
Balancer tech is constantly ahead of (the) Curve. With the innovation of Weighted Pools, a new paradigm for governance positions has been unlocked. Far more efficient than single-sided staking the 8020 revolution is well underway.
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 #9.
Live Events
Back by popular demand! Tech Tuesdays are making a comeback, except now it's on Thursdays.
DeFi is brimming with new stuff, all the time. It’s fast, it’s fun and it’s oh-so complicated — or is it? Come join us on Thursday at 10 am UTC for a mellow jam session on the technical innovations from Beethoven X and Beyond!
Everyone is welcome, simply tune in and get those questions popping!
Outro
The sun is shining Ludwigs, the weather is sweet and we hope everyone out there is grooving to the BEETS.
Jam-packed and filled with fun, the week ahead looks bright maestros!
Tune in and vege out as we cruise through the Cryptoverse, Beethoven style.
Love as always,
Beet X.
