DA WEEKLY DATA DROP — #70
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 $23,908,417 (+5.39% compared to last week)
🔵 On FTM, TVL is $8,239,501 (+13.07%)
🔴 On OP, TVL is $15,668,916 (+1.76%)
Volume
The total volume for the previous week is $20,225,381 (-43.62% compared to last week).
🔵 On Fantom, Volume totaled $2,063,430 (-71.29%)
🔴 On Optimism, Volume totaled $18,161,951 (-36.70%)
Liquidity Providers
What about our BEETiful Liquidity providers?
During the past week, Liquidity Providers earned $6.04K in swap fees and $5.92K in BEETS incentives across both Fantom and Optimism.
Pool Performance
Fantom
On Fantom, ‘Staked Fantom & Circle Symphony’ (sFTMx/USDC.e) has generated 29.1% of the weekly swap fees, totalling $1,063. This was followed by ‘A Late Quartet’ (multiUSDC/wFTM/multiWETH/multiWBTC) which generated $327.
Optimism
This week on OP, ‘Gyroscope ECLP wstETH/WETH’ has pulled in the most swap fees for liquidity providers, generating a total of $696 for the week. This was followed by ‘Happy Road’ (WETH/OP/USDC.e)with $270.
Yield Capture
Across both chains, ‘Ethereum Triplets’ (rETH/wstETH/sfrxETH) has captured users the most in Yield fees, bringing in $1,977 for the week. The second highest fee generator of the week is ‘Gyroscope ECLP wstETH/WETH’ bringing in $1,384.
Protocol Revenue
During this past week, the protocol generated $6,037 in Swap fees. $8,872 was also generated via Yield Bearing tokens hosted on the protocol, of which, $4,003 flowed to the protocol as revenue. In total, $6,089 flowed to the protocol as revenue.
This week our Protocol Fee to BEETS ratio rounds out at 0.91.
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 $9,000 of incentives were offered as Beets bounties.
Check out the latest round 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 $783,563 in the treasury, up $62,236 compared to last week. $305,023 is held in liquid tokens whilst $478,540 is actively deployed in farming positions.
Top DAO Farming positions on Fantom
- Staked Fantom & Circle Symphony (USDC.e/sFTMx) on Beethoven X — $302,737
- Trio of the Stables (lzUSDC/axlUSDC/USDC.e) on Beethoven X — $121,305
- sFTMx/BEETS liquidity pool on Equalizer — $30,493
Optimism
The Beethoven X DAO holds $1,392,055 in treasury assets on Optimism, down $40,823 compared to last week.
The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($343,001). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.
Besides the OP, $899,665 is actively deployed in LP positions.
Top DAO Farming Positions on Optimism
- Rocket Fuel (rETH/ETH) on Beethoven X (Staked in Aura) — $462,371
- Roast Beets (rETH/lzBEETS) on Beethoven X — $160,017
- Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked in Aura) — $140,364
- Native Stable Beets (USDC/USDC.e/USDT/DAI) — $136,634
Ethereum
The Treasury also holds over $673,917 of assets on Ethereum, down $16,696 compared to last week. This is predominantly in stablecoins ($241,406), although there is also $90,163 actively deployed in farming positions.
Top DAO Farming Positions on Ethereum
- AURA locked as vlAURA on Aura Finance — $57,708
- veBAL pool (BAL/ETH) on Balancer — $32,177
Totals
This brings the Treasury’s total holdings to over $2,849,535 (Up 0.17% compared to the last Data Drop)
($2,204,029 not including BEETS and OP tokens)
sFTMx
On the 15th of February 2024, the Beethoven X DAO officially took ownership of Fantom’s no.1 Liquid-staking Token, sFTMx. Since then 23,096,760 FTM has been deposited into the protocol with only 6,493,300 FTM in withdraws.
Currently, 22,454,041 FTM is staked (-0.00% compared to the last Data Drop), with 6,114 FTM in the free pool. This brings the total to 22,460,155 FTM (-0.16%), with an overall value of $8,407,741.
This week the protocol has generated 2,274 FTM in revenue. This is split predominantly between maBEETS holders and the sFTMx Coalition participants, with the remaining distributed to Stader and the Beets DAO treasury.
For all the juicy details on our yield-bearing masterpiece dive into the article below:
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
