DA WEEKLY DATA DROP — #33

Beethoven X
5 min readNov 24, 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 $35,234,323 (+5.30% compared to last week)

🔵 On FTM, TVL is $7,284,085 (-7.81%)

🔴 On OP, TVL is $27,950,238 (+9.35%)

Volume

The total volume for the previous week is $29,904,309 (+32.0% compared to last week).

🔵 On Fantom, Volume totaled $875,660 (-11.2%)

🔴 On Optimism, Volume totaled $29,028,649 (+25.3%)

This week the ‘Gyroscope ECLP wstETH/WETH’ continued to perform well, bringing in over $7M in volume on both Nov 17th and Nov 18th.

Liquidity Providers

What about our BEETiful Liquidity providers?

During the past week, Liquidity Providers earned $9.55K in swap fees and $13.82K in BEETS incentives across both Fantom and Optimism.

Pool Performance

Fantom

On Fantom, ‘Fresh BEETS’ (wFTM/BEETS) has generated 28.5% of the weekly swap fees totaling $1,305.

Optimism

This week on OP, the ‘Gyroscope ECLP wstETH/WETH’ pool has pulled in the most swap fees for liquidity providers, generating a total of $1,888 for the week.

Yield Capture

Across both chains, ‘Ethereum Triplets’ (wstETH/sfrxETH/rETH) has captured users the most in Yield fees, bringing in $4,192 for the week. The second highest fee generator of the week is ‘Gyroscope ECLP wstETH/WETH’ bringing in $3,799.

Protocol Revenue

During this past week, the protocol generated $9,549 in Swap fees. $11,648 was also generated via Yield Bearing tokens hosted on the protocol, of which, $5,664 flowed to the protocol as revenue. In total, $8,968 flowed to the protocol as revenue.

This week our Protocol Fee to BEETS ratio rounds out at 0.36. This is due to an increased FTM block speed resulting in increased BEETS emissions.

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.

Following a recent proposal, gauge vote bounties will now be set as Fantom Layer of the Opera BPTs. Dive into the thread below for all the details.

In the latest gauge vote, over 5,000 BPTs will be offered as bounties.

Check it out here:

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 $585,066 in the treasury wallet, up $59,040 compared to last week. $311,277 is held in liquid tokens whilst $273,789 is actively deployed in farming positions.

Top DAO Farming positions on Fantom

  • Fantom Layer of the Opera (FTM/USDC) on Beethoven X — $248,899
  • BEETS Liquidity Pool on Tarot — $18,419
  • Locked LQDR pool on Liquid Driver — $6,470

Optimism

The Beethoven X DAO holds $1,504,987 in Treasury assets on Optimism.

The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($676,807). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.

Besides the OP, $761,335 is actively deployed in LP positions.

Please note: The lzBEETS price is yet to be updated on DeBank and are currently showing as valueless.

Top DAO Farming Positions on Optimism

  • Rocket Fuel (rETH/ETH) on Beethoven X (Staked in Aura) — $371,088
  • Native Stable Beets (USDC/USDC.e/USDT/DAI) — $132,870
  • Roast Beets (rETH/lzBEETS) on Beethoven X — $145,130
  • Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked in Aura) — $112,247

Ethereum

The Treasury also holds over $981,208 of assets on Ethereum. This is predominantly in stablecoins ($599,378), although there is also $100,175 actively deployed in farming positions.

Top DAO Farming Positions on Ethereum

  • AURA locked as vlAURA on Aura Finance — $68,122
  • veBAL pool (BAL/ETH) on Balancer — $31,876

Totals

This brings the Treasury’s total holdings to over $3,071,261 (up 0.86% compared to last week)

($2,306,043 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

--

--