DA WEEKLY DATA DROP — #3

Beethoven X
5 min readApr 20, 2023

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Bust a move and get your grooove on.

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

TVL

Total TVL across both networks is currently $96.457 Million.

🔵 On FTM, TVL is sitting at $43.215 million.

🔴 On OP, TVL is sitting at $53.206 million.

Volume

The total volume for the previous week was $42,720,135

🔵 On Fantom, Volume totalled $26,924,247

🔴 On Optimism, Volume totalled $15,795,888

Liquidity Providers

What about our BEETiful Liquidity providers?

During the past week, Liquidity Providers have earned $69.24K in swap fees and $22.08K in BEETS incentives across both Fantom and Optimism

Pool Performance

Fantom

Pools on the right are ordered from highest to lowest in terms of swap fees generated.

On Fantom, the Oats and Grain (GRAIN/OATH/FTM/USDC) pool has continued its swap fee generating streak by surpassing A Late Quartet, with a total of $11,508 for the previous week.

Optimism

Once again, on OP, the Boned Oath Token pool has pulled in the most swap fees for liquidity providers, generating a total of $8,535 for the week.

Protocol Revenue

During this past week, 89,073 swaps generated $69,238 in Swap fees, of which $20,762 flowed to the protocol as revenue.

With a current Protocol Fee to BEETS ratio of 0.99, this revenue generation has ensured we continue our trend to a positive cash flow protocol!

Meaning, for every $1 in BEETS incentives emitted, we have generated $0.99 in protocol fees.

Note: This figure does not account for Interest Bearing fees from Liquid Staked tokens or Boosted Pools. Accounting for all fees generated for the week, we are beyond cash flow positive. We are currently looking for an efficient way to track these IB to correctly calculate this metric.

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 148,001 $BEETS were deposited as BEETS bounties, valued at $7, 593 at the time.

Treasury

The remaining protocol revenue is utilised 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 hold $2.40 million in the Treasury wallet.

64.41% of this is actively farming in LP positions.

Top DAO Farming positions on Fantom

  • A Late Quartet (BTC/ETH/FTM/USDC) on Beethoven X — $446,929
  • Steady Beets (USDC/DAI) on Beethoven X — $333,391
  • A Late Quartet (BTC/ETH/FTM/USDC) on LiquidDriver — $298,639

Optimism

The Beethoven X DAO holds $1.62 million in Treasury assets on Optimism.

The majority of assets held on the Optimism treasury wallet is the remaining OP grant ($1,098,111). This OP grant is continuously paired with a portion of generated protocol fees to incentivise LPs on Beethoven X.

Besides the OP, over $448,172k is actively deployed in LP positions.

Top DAO Farming Positions on Optimism

  • Rocket Fuel (rETH/ETH) on Beethoven X — $348,209
  • Optimistic Steady Beets (USDC/DAI/USDT) on Beethoven X — $84,215

Ethereum

The Treasury also holds over $129,484 of assets on Ethereum.

Top DAO Farming Positions on Ethereum

  • AURA locked as vlAURA on Aura Finance — $56,597
  • veBAL on Balancer — $30,632
  • auraBAL in the auraBAL autocompounder on Aura Finance — $41,524

This brings the Treasury’s total holdings to over $4,169,598 (Down -0.91% since last week)

($2,484,097 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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