DA WEEKLY DATA DROP — #42

Beethoven X
5 min readJan 26, 2024

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 $33,923,551 (-10.98% compared to last week)

🔵 On FTM, TVL is $7,035,495 (-5.68%)

🔴 On OP, TVL is $26,888,056 (-12.27%)

Volume

The total volume for the previous week is $10,944,001 (+22.16% compared to last week).

🔵 On Fantom, Volume totaled $1,198,704 (+5.23%)

🔴 On Optimism, Volume totaled $9,745,297 (+24.62%)

Liquidity Providers

What about our BEETiful Liquidity providers?

During the past week, Liquidity Providers earned $7.54K in swap fees and $6.93K in BEETS incentives across both Fantom and Optimism.

Pool Performance

Fantom

On Fantom, ‘A Late Quartet’ (multiUSDC/wFTM/multiWBTC/multiWETH) has generated 23.8% of the weekly swap fees, totaling $766. This was followed by ‘Dropping the fBOMB!’ (wFTM/fBOMB) which generated $468.

Optimism

This week on OP, ‘VMEX-WETH 80/20’ (VMEX/WETH) has pulled in the most swap fees for liquidity providers, generating a total of $1,244 for the week. This was followed by ‘Gyroscope ECLP wstETH/WETH’ with $519.

Yield Capture

Across both chains, ‘Ethereum Triplets’ (rETH/wstETH/sfrxETH) has captured users the most in Yield fees, bringing in $7,216 for the week. The second highest fee generator of the week is ‘Gyroscope ECLP wstETH/WETH’ bringing in $2,864.

Protocol Revenue

During this past week, the protocol generated $7,540 in Swap fees. $12,916 was also generated via Yield Bearing tokens hosted on the protocol, of which, $6,377 flowed to the protocol as revenue. In total, $9,349 flowed to the protocol as revenue.

This week our Protocol Fee to BEETS ratio rounds out at 1.35.

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.

With evolutions and optimizations, the BEETS WARS has slowly taken a new form — BEETS WARS 2.0. For everything you need to know about the Beets gauge vote, check out the following article.

In the latest gauge vote, over 7000 BPTs where offered as bounties.

Check it out the results 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 $799,441 in the treasury wallet, down $8,326 compared to last week. $418,588 is held in liquid tokens whilst $282,853 is actively deployed in farming positions.

Top DAO Farming positions on Fantom

  • Fantom Layer of the Opera (FTM/USDC) on Beethoven X — $276,998
  • Locked LQDR pool on Liquid Driver — $5,555

Optimism

The Beethoven X DAO holds $1,938,714 in Treasury assets on Optimism.

The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($1,052,339). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.

Besides the OP, $824,872 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) — $402,659
  • Roast Beets (rETH/lzBEETS) on Beethoven X — $189,364
  • Native Stable Beets (USDC/USDC.e/USDT/DAI) — $133,640
  • Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked in Aura) — $121,810

Ethereum

The Treasury also holds over $885,880 of assets on Ethereum. This is predominantly in stablecoins ($484,253), although there is also $91,025 actively deployed in farming positions.

Top DAO Farming Positions on Ethereum

  • AURA locked as vlAURA on Aura Finance — $54,705
  • veBAL pool (BAL/ETH) on Balancer — $36,221

Totals

This brings the Treasury’s total holdings to over $3,524,035 (Down 2.76% compared to last week)

( $2,177,852 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

--

--