DA WEEKLY DATA DROP — #4

Beethoven X
4 min readApr 28, 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 down 2.56% compared to last week sitting at $93.986 million.

🔵 On FTM, TVL is $41.378 million.

🔴 On OP, TVL is $52.608 million.

Volume

The total volume for the previous week is $20,951,110, down 50.9% compared to last week.

🔵 On Fantom, Volume totalled $12,769,817

🔴 On Optimism, Volume totalled $8,181,293

Liquidity Providers

What about our BEETiful Liquidity providers?

During the past week, Liquidity Providers have earned $32.06K in swap fees (down 53.7%) and $14.37K 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 A Late Quartet(wBTC/wETH/FTM/USDC) has generated 30.9% of the weekly swap fees totalling $8,038.

Optimism

Once again, on OP, the Boned Oath Token pool has pulled in the most swap fees for liquidity providers, generating a total of $1,817 for the week.

Protocol Revenue

During this past week, 64,748 swaps generated $32,062 in Swap fees, of which $8,814 flowed to the protocol as revenue, which is 58% less compared to last week.

This drop in protocol fees has meant that our Protocol Fee to BEETS ratio is currently sitting at 0.69.

Bear in mind, this metric does not include IB fees which are our highest revenue source on Optimism.

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 upcoming gauge vote, over 144,000 $BEETS will be offered as BEETS bounties.

Treasury

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

Fantom

On Fantom, the DAO currently hold $2.31 million in the Treasury wallet.

65.96% of this is actively farming in LP positions.

Top DAO Farming positions on Fantom

  • A Late Quartet (BTC/ETH/FTM/USDC) on Beethoven X — $435,021
  • Steady Beets (USDC/DAI) on Beethoven X — $339,203
  • A Late Quartet (BTC/ETH/FTM/USDC) on LiquidDriver — $291,628

Optimism

The Beethoven X DAO holds $1.43 million in Treasury assets on Optimism.

The majority of assets held on the Optimism treasury wallet is the remaining OP grant ($912,431). This OP grant is continuously paired with a portion of generated protocol fees to incentivise LPs on Beethoven X.

Besides the OP, over $442k is actively deployed in LP positions.

Top DAO Farming Positions on Optimism

  • Rocket Fuel (rETH/ETH) on Beethoven X — $342,001
  • Optimistic Steady Beets (USDC/DAI/USDT) on Beethoven X — $84,210
  • Here comes the Sonne (USDC/DAI/USDT) on Beethoven X — $15,809

Ethereum

The Treasury also holds over $126,199 of assets on Ethereum.

Top DAO Farming Positions on Ethereum

  • AURA locked as vlAURA on Aura Finance — $53,866
  • veBAL on Balancer — $39,604
  • auraBAL in the auraBAL autocompounder on Aura Finance — $32,030

This brings the Treasury’s total holdings to over $3,888,650.00 (Down -6.74% since last week)

( $2,437,167.00 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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