DA WEEKLY DATA DROP — #23

Beethoven X
5 min readSep 15, 2023

Bust a move and get your groove on.

It’s time to get down with da weekly BEETS da-da-da-data!

TVL

Total TVL across both networks is sitting at $19,665,582

🔵 On FTM, TVL is $4,990,252

🔴 On OP, TVL is $14,675,330

Volume

The total volume for the previous week is $6,134,943

🔵 On Fantom, Volume totaled $648,841

🔴 On Optimism, Volume totaled $5,486,102

Liquidity Providers

What about our BEETiful Liquidity providers?

During the past week, Liquidity Providers earned $3.72K in swap fees and $2.40K in BEETS incentives across both Fantom and Optimism.

Pool Performance

Fantom

On Fantom, ‘Fantom Layer of the Opera’ (wFTM/lzUSDC) has generated 38.8% of the weekly swap fees totaling $689.

Optimism

This week on OP, the ‘Rocket Fuel’ pool has pulled in the most swap fees for liquidity providers, generating a total of $351 for the week.

Yield Capture

Across both chains, ‘Rocket Fuel’ has captured users the most in Yield fees, bringing in $3,255 for the week. The second highest fee generator of the week is ‘Gyroscope ECLP wstETH/WETH’ bringing in $1,993.

Protocol Revenue

During this past week, the protocol generated $3,723 in Swap fees. $6,139 was also generated via Yield Bearing tokens hosted on the protocol, of which, $2,923 flowed to the protocol as revenue. In total, $4,302 flowed to the protocol as revenue.

This week our Protocol Fee to BEETS ratio rounds out at 1.93.

So, where does all protocol revenue flow?

Two directions.

  1. Gauge Bounties
  2. Treasury

Gauge Bounties

A portion of all Beethoven X protocol fees flows back to our #maBEETS holders as Gauge Bounties on Fantom.

In the recent gauge vote, over 105,000 BEETS were offered as BEETS bounties.

Treasury

The remaining protocol revenue is utilized to build a sustainable Treasury to ensure Beethoven X’s longevity. To ensure diversification, Beethoven holds treasury assets across 3 different chains.

Fantom

On Fantom, the DAO currently holds $475,393 in the Treasury wallet.

Top DAO Farming positions on Fantom

  • Fantom Layer of the Opera (FTM/USDC) on Beethoven X — $193,488
  • BEETS Liquidity Pool on Tarot — $9,419
  • Locked LQDR pool on Liquid Driver — $4,714

Optimism

The Beethoven X DAO holds $1,066,038 in Treasury assets on Optimism.

The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($536,639). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.

Besides the OP, $458,297 is actively deployed in LP positions.

Top DAO Farming Positions on Optimism

  • Rocket Fuel (rETH/ETH) on Beethoven X (Staked in Aura) — $286,605
  • Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked in Aura) — $86,463
  • Optimistic Steady Beets (USDC/DAI/USDT) on Beethoven X — $84,171

Ethereum

The Treasury also holds over $968,720 of assets on Ethereum. This is predominantly in stablecoins ($673,357), although there is also $76,136 actively deployed in farming positions.

A decrease in the Ethereum treasury can be seen this week after BIP-50 was successfully executed. The proposal saw the reimbursement of users affected by the DDB exploit which came to a total of 79,700 USDC.

Top DAO Farming Positions on Ethereum

  • AURA locked as vlAURA on Aura Finance — $52,877
  • veBAL pool (BAL/ETH) on Balancer — $23,259

Totals

This brings the Treasury’s total holdings to over $2,510,151 (down 4.92% since the previous Data Drop)

( $1,835,528 not including BEETS and OP tokens)

Outro

Beetin’ and Bustin’

Did you groove to the data?

Until next week, you can keep up to date / interact in real-time with the two analytic platforms below:

Love as always,

BEET X

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