Beethoven X
5 min readJun 28, 2024


Bust a move and get your groove on.

It’s time to get down with da weekly BEETS da-da-da-data!


Total TVL across both networks is sitting at $29,755,399 (-1.68% compared to last week)

🔵 On FTM, TVL is $11,689,213 (+2.71%)

🔴 On OP, TVL is $18,066,186 (-4.33%)


The total volume for the previous week is $19,233,569 (-35.04% compared to last week).

🔵 On Fantom, Volume totaled $4,758,404 (-29.70%)

🔴 On Optimism, Volume totaled $14,475,165 (-36.62%)

Liquidity Providers

What about our BEETiful Liquidity providers?

During the past week, Liquidity Providers earned $8.23K in swap fees and $15.04K in BEETS incentives across both Fantom and Optimism.

Pool Performance


On Fantom, ‘Staked Fantom & Circle Symphony’ (sFTMx/USDC.e) has generated 25.8% of the weekly swap fees, totalling $1,426. This was followed by ‘Fresh BEETS’ (wFTM/BEETS) which generated $706.


This week on OP, ‘A Night at the OPara’ (OP/PSP) has pulled in the most swap fees for liquidity providers, generating a total of $485 for the week. This was followed by ‘Gyroscope ECLP wstETH/WETH’ with $475.

Yield Capture

Across both chains, ‘Ethereum Triplets’ (rETH/wstETH/sfrxETH) has captured users the most in Yield fees, bringing in $2,563 for the week. The second highest fee generator of the week is ‘Fantom Menace’ (sFTMx/wFTM) bringing in $1,983.

Protocol Revenue

During this past week, the protocol generated $8,233 in Swap fees. $9,572 was also generated via Yield Bearing tokens hosted on the protocol, of which, $4,104 flowed to the protocol as revenue. In total, $6,658 flowed to the protocol as revenue.

This week our Protocol Fee to BEETS ratio rounds out at 0.5.

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 $8,000 of incentives were offered as Beets bounties.

Check out the results from the last round here:


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.


On Fantom, the DAO currently holds $1,028,264 in the treasury, down $15,915 compared to last week. $435,233 is held in liquid tokens whilst $593,031 is actively deployed in farming positions.

Top DAO Farming positions on Fantom

  • Staked Fantom & Circle Symphony (USDC.e/sFTMx) on Beethoven X — $402,823
  • Trio of the Stables (lzUSDC/axlUSDC/USDC.e) on Beethoven X — $121,009
  • sFTMx/BEETS liquidity pool on Equalizer — $45,824


The Beethoven X DAO holds $1,845,906 in treasury assets on Optimism, down $37,879 compared to the last Data Drop.

The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($522,498). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.

Besides the OP, $1,163,838 is actively deployed in LP positions.

Top DAO Farming Positions on Optimism

  • Rocket Fuel (rETH/ETH) on Beethoven X (Staked in Aura) — $612,002
  • Roast Beets (rETH/lzBEETS) on Beethoven X — $230,389
  • Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked in Aura) — $184,670
  • Native Stable Beets (USDC/USDC.e/USDT/DAI) — $136,410


The Treasury also holds over $805,685 of assets on Ethereum, down $17,285 compared to last week. This is predominantly in stablecoins ($320,354), although there is also $111,376 actively deployed in farming positions.

Top DAO Farming Positions on Ethereum

  • AURA locked as vlAURA on Aura Finance — $66,302
  • veBAL pool (BAL/ETH) on Balancer — $44,651


This brings the Treasury’s total holdings to over $3,679,855 (Down 1.89% compared to the last Data Drop)

($2,723,548 not including BEETS and OP tokens)


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, 20,334,961 FTM is staked (+1.35% compared to the last Data Drop), with 379,889 FTM in the free pool. This brings the total to 20,714,850 FTM (+1.91%), with an overall value of $11,690,964.


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,