DA WEEKLY DATA DROP — #52
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 $38,856,709 (-13.97% compared to last week)
🔵 On FTM, TVL is $15,202,623 (-17.51%)
🔴 On OP, TVL is $23,654,086 (-11.53%)
Volume
The total volume for the previous week is $17,740,261 (-44.26% compared to last week).
🔵 On Fantom, Volume totaled $3,753,696 (-59.69%)
🔴 On Optimism, Volume totaled $13,986,565 (-37.88%)
Liquidity Providers
What about our BEETiful Liquidity providers?
During the past week, Liquidity Providers earned $16.57K in swap fees and $14.46K in BEETS incentives across both Fantom and Optimism.
Pool Performance
Fantom
On Fantom, ‘Dropping the fBOMB’ (wFTM/fBOMB) has generated 10.7% of the weekly swap fees, totalling $1,048. This was followed by ‘Fresh BEETS’ (wFTM/BEETS) which generated $894.
Optimism
This week on OP, ‘Happy Road’ (wETH/OP/USDC.e) has pulled in the most swap fees for liquidity providers, generating a total of $1,244 for the week. This was followed by ‘Sonata for Two: DOLA & USDC’ with $1,109.
Yield Capture
Across both chains, ‘Ethereum Triplets’ (rETH/wstETH/sfrxETH) has captured users the most in Yield fees, bringing in $6,475 for the week. The second highest fee generator of the week is ‘Gyroscope ECLP wstETH/WETH’ bringing in $2,416.
Protocol Revenue
During this past week, the protocol generated $16,570 in Swap fees. $14,052 was also generated via Yield Bearing tokens hosted on the protocol, of which, $6,244 flowed to the protocol as revenue. In total, $12,128 flowed to the protocol as revenue.
This week our Protocol Fee to BEETS ratio rounds out at 0.71.
So, where does all protocol revenue flow?
Two directions.
- Gauge Bounties
- 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. Check out the following article for everything you need to know on the Beets gauge vote.
In the last gauge vote, over $13,000 of incentives were offered as Beets bounties.
Check out the latest results round 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.
This week, in order to comply with the Beethoven X DAO Treasury and Risk Management Framework (laid out in BIP-57), several assets were sold into stables across all three chains.
- 48000 FTM and ~$8309 in ‘Love thy Stables’ BPTs were sold for ~54113 USDC and sent from Fantom to Optimism.
- 15227 OP tokens were sold for ~56097 USDC on Optimism
- ~1.13 wBTC and ~3.57 wETH were sold for ~91714 USDC on Ethereum mainnet.
Fantom
On Fantom, the DAO currently holds $1,352,992 in the treasury, down $275,784 compared to last week. $691,055 is held in liquid tokens whilst $661,937 is actively deployed in farming positions.
Top DAO Farming positions on Fantom
- Layered & Staked Fantom Opera (sFTMx/lzUSDC) on Beethoven X — $305,57
- Fantom Layer of the Opera (wFTM/lzUSDC) on Beethoven X — $262,057
- sFTMx/BEETS liquidity pool on Equalizer — $67,067
Optimism
The Beethoven X DAO holds $2,345,586 in treasury assets on Optimism, down $277,887 compared to last week.
The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($916,323). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.
Besides the OP, $1,222,628 is actively deployed in LP positions.
Top DAO Farming Positions on Optimism
- Rocket Fuel (rETH/ETH) on Beethoven X (Staked in Aura) — $589,537
- Roast Beets (rETH/lzBEETS) on Beethoven X —$320,707
- Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked in Aura) — $178,517
- Native Stable Beets (USDC/USDC.e/USDT/DAI) — $134,865
Ethereum
The Treasury also holds over $1,032,636 of assets on Ethereum, up $56,235 compared to last week. This is predominantly in stablecoins ($445,965), although there is also $122,268 actively deployed in farming positions.
Top DAO Farming Positions on Ethereum
- AURA locked as vlAURA on Aura Finance — $65,522
- veBAL pool (BAL/ETH) on Balancer — $56,553
Totals
This brings the Treasury’s total holdings to over $4,674,979 (Down 11.54% compared to last week)
( $3,161,021 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, 12,065,340 FTM is staked (+70.79% compared to last week), with 674,894 FTM in the free pool. This brings the total to 12,740,234 FTM (+25.14%), with an overall value of $10,140,820.
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
