DA WEEKLY DATA DROP — #49

Beethoven X
6 min readMar 16, 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 $49,243,057 (-9.85% compared to last week)

🔵 On FTM, TVL is $14,437,000 (-18.92%)

🔴 On OP, TVL is $34,806,057 (-5.47%)

Volume

The total volume for the previous week is $18,502,978 (-0.48% compared to last week).

🔵 On Fantom, Volume totaled $5,880,755 (-10.77%)

🔴 On Optimism, Volume totaled $12,622,223 (+5.17%)

Liquidity Providers

What about our BEETiful Liquidity providers?

During the past week, Liquidity Providers earned $18.27K in swap fees and $20.82K in BEETS incentives across both Fantom and Optimism.

Pool Performance

Fantom

On Fantom, ‘Fresh BEETS’ (wFTM/BEETS) has generated 12.3% of the weekly swap fees, totaling $1,344. This was followed by ‘The Explosive mFTM’ (wFTM/mFTM/fBOMB) which generated $1,316.

Optimism

This week on OP, ‘A Night at the OPara’ (PSP/OP) has pulled in the most swap fees for liquidity providers, generating a total of $1,753 for the week. This was followed by ‘Sonata for Two: DOLA & USDC’ with $1,324.

Yield Capture

Across both chains, ‘Ethereum Triplets’ (rETH/wstETH/sfrxETH) has captured users the most in Yield fees, bringing in $11,277 for the week. The second highest fee generator of the week is ‘Gyroscope ECLP wstETH/WETH’ bringing in $3,329.

Protocol Revenue

During this past week, the protocol generated $18,266 in Swap fees. $21,231 was also generated via Yield Bearing tokens hosted on the protocol, of which, $10,234 flowed to the protocol as revenue. In total, $16,304 flowed to the protocol as revenue.

This week our Protocol Fee to BEETS ratio rounds out at 1.04.

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 4000 BPTs were 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 $1,399,920 in the treasury, down $22,560 compared to last week. $817,737 is held in liquid tokens whilst $582,183 is actively deployed in farming positions.

Top DAO Farming positions on Fantom

  • Layered & Staked Fantom Opera (sFTMx/lzUSDC) on Beethoven X — $37,121
  • Fantom Layer of the Opera (wFTM/lzUSDC) on Beethoven X — $260,062
  • Love Thy Stables (axlUSDC/lzUSDC) on Beethoven X — $8,357

Optimism

The Beethoven X DAO holds $2,670,787 in Treasury assets on Optimism, down $314,415 compared to last week.

The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($1,256,551). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.

Besides the OP, $1,307,886 is actively deployed in LP positions.

Top DAO Farming Positions on Optimism

  • Rocket Fuel (rETH/ETH) on Beethoven X (Staked in Aura) — $646,236
  • Roast Beets (rETH/lzBEETS) on Beethoven X — $331,030
  • Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked in Aura) — $195,924
  • Native Stable Beets (USDC/USDC.e/USDT/DAI) — $133,342

Ethereum

The Treasury also holds over $1,015,039 of assets on Ethereum, up $1,125 compared to last week. This is predominantly in stablecoins ($389,240), although there is also $139,445 actively deployed in farming positions.

Top DAO Farming Positions on Ethereum

  • AURA locked as vlAURA on Aura Finance — $74,771
  • veBAL pool (BAL/ETH) on Balancer —$64,501

Totals

This brings the Treasury’s total holdings to over $5,108,048 (Down 6.17% compared to last week)

( $3,201,886 not including BEETS and OP tokens)

sFTMx

As of the 15th of February 2024, the Beethoven X DAO is now officially the new owner of Fantom’s no. 1 LST, sFTMx. Combined with the yield-bearing native Beets tech stack, Beethoven X is now positioned as THE yield-bearing hub of the Fantom blockchain.

For all the juicy details dive into the article below:

Currently, 6,814,717 FTM is staked (-0.01% compared to last week), with 118,525 FTM in the free pool. This brings the total staked value to around $6,326,831, with the overall value sitting at $6,436,871.

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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