DA WEEKLY DATA DROP — #60

Beethoven X
5 min readMay 31, 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 $34,873,591 (-2.24% compared to last week)

🔵 On FTM, TVL is $14,805,550 (+1.37%)

🔴 On OP, TVL is $20,068,041 (-4.75%)

Volume

The total volume for the previous week is $25,729,465 (-11.68% compared to last week).

🔵 On Fantom, Volume totaled $3,220,517 (-46.90%)

🔴 On Optimism, Volume totaled $22,508,948 (-2.42%)

Liquidity Providers

What about our BEETiful Liquidity providers?

During the past week, Liquidity Providers earned $8.42K in swap fees and $18.62K in BEETS incentives across both Fantom and Optimism.

Pool Performance

Fantom

On Fantom, ‘Fantom Menace’ (sFTMx/wFTM) has generated 18% of the weekly swap fees, totalling $842. This was followed by ‘Staked Fantom & Circle Symphony’ (sFTMx/USDC.e) which generated $677.

Optimism

This week on OP, ‘Gyroscope ECLP wstETH/WETH’ has pulled in the most swap fees for liquidity providers, generating a total of $665 for the week. This was followed by ‘Ethereum Triplets’ (rETH/wstETH/sfrxETH) with $624.

Yield Capture

Across both chains, ‘Ethereum Triplets’ (rETH/wstETH/sfrxETH) has captured users the most in Yield fees, bringing in $3,155for the week. The second highest fee generator of the week is ‘Gyroscope ECLP wstETH/WETH’ bringing in $2,106.

Protocol Revenue

During this past week, the protocol generated $8,421 in Swap fees. $10,677 was also generated via Yield Bearing tokens hosted on the protocol, of which, $4,637 flowed to the protocol as revenue. In total, $7,588 flowed to the protocol as revenue.

This week our Protocol Fee to BEETS ratio rounds out at 0.41.

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. Check out the following article for everything you need to know on the Beets gauge vote.

In the last gauge vote, over $10,000 of incentives were offered as Beets bounties.

Check out the last round’s results here:

Treasury

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

Fantom

On Fantom, the DAO currently holds $1,410,228 in the treasury, down $15,864 compared to last week. $703,917 is held in liquid tokens whilst $706,3113 is actively deployed in farming positions.

Top DAO Farming positions on Fantom

  • Staked Fantom & Circle Symphony (USDC.e/sFTMx) on Beethoven X — $495,538
  • Trio of the Stables (lzUSDC/axlUSDC/USDC.e) on Beethoven X — $120,784
  • sFTMx/BEETS liquidity pool on Equalizer — $63,951

Optimism

The Beethoven X DAO holds $2,213,643 in treasury assets on Optimism, down $37,213 compared to last week.

The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($712,219). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.

Besides the OP, $1,314,815 is actively deployed in LP positions.

Top DAO Farming Positions on Optimism

  • Rocket Fuel (rETH/ETH) on Beethoven X (Staked in Aura) — $664,476
  • Roast Beets (rETH/lzBEETS) on Beethoven X — $313,446
  • Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked in Aura) — $201,119
  • Native Stable Beets (USDC/USDC.e/USDT/DAI) — $135,772

Ethereum

The Treasury also holds over $913,003 of assets on Ethereum, down $8,274 compared to last week. This is predominantly in stablecoins ($365,429), although there is also $139,273 actively deployed in farming positions.

Top DAO Farming Positions on Ethereum

  • AURA locked as vlAURA on Aura Finance — $82,623
  • veBAL pool (BAL/ETH) on Balancer — $56,469

Totals

This brings the Treasury’s total holdings to over $4,536,874 (Down 1.33% compared to last week)

($3,218,536 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, 17,165,580 FTM is staked (+4.58% compared to last week), with 274,313 FTM in the free pool. This brings the total to 17,439,893 FTM (+3.84%), with an overall value of $13,697,396.

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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