DA WEEKLY DATA DROP — #5

Beethoven X
4 min readMay 5, 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 $92,867,546.

🔵 On FTM, TVL is $41,002,091

🔴 On OP, TVL is $51,865,455

Volume

The total volume for the previous week is $17,283,125

🔵 On Fantom, Volume totaled $10,296,351

🔴 On Optimism, Volume totaled $6,986,774

Liquidity Providers

What about our BEETiful Liquidity providers?

During the past week, Liquidity Providers have earned $25.46K in swap fees and $15.55K in BEETS incentives across both Fantom and Optimism.

Pool Performance

Fantom

On Fantom, the FireBird USDC has generated 23% of the weekly swap fees totaling $4,875. This spike in fees for the pool is due to a large $526,409 withdrawal in liquidity.

Optimism

Once again, on OP, the Bonded Oath Token pool has pulled in the most swap fees for liquidity providers, generating a total of $1,220 for the week.

Protocol Revenue

During this past week, 39,057 swaps generated $25,460 in Swap fees, of which $18,250 flowed to the protocol as revenue.

This drop in protocol fees has meant that our Protocol Fee to BEETS ratio ends the week at 0.81.

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 recent gauge vote, over 144,000 $BEETS were offered as BEETS bounties.

Treasury

The remaining protocol revenue is utilized 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 holds $2,293,960 in the Treasury wallet.

66.56% of this is actively farming in LP positions.

Top DAO Farming positions on Fantom

  • A Late Quartet (BTC/ETH/FTM/USDC) on Beethoven X — $434,888
  • Steady Beets (USDC/DAI) on Beethoven X — $339,228
  • A Late Quartet (BTC/ETH/FTM/USDC) on LiquidDriver — $292,165

Optimism

The Beethoven X DAO holds $1,362,579 million in Treasury assets on Optimism.

The majority of assets held on the Optimism treasury wallet is the remaining OP grant ($846,787). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.

Besides the OP, over $439,266 is actively deployed in LP positions.

Top DAO Farming Positions on Optimism

  • Rocket Fuel (rETH/ETH) on Beethoven X — $339,210
  • Optimistic Steady Beets (USDC/DAI/USDT) on Beethoven X — $84,225
  • Here comes the Sonne (USDC/DAI/USDT) on Beethoven X — $15,830

Ethereum

The Treasury also holds over $121,870 of assets on Ethereum.

Top DAO Farming Positions on Ethereum

  • AURA locked as vlAURA on Aura Finance — $51,189
  • veBAL on Balancer — $38,968
  • auraBAL in the auraBAL auto-compounder on Aura Finance — $31,024

This brings the Treasury’s total holdings to over $3,792,578 (Down -2.47% since last week)

( $2,426,967not 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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