Da Weekly Data Drop — #71
Bust a move and get ya 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 $26,537,384 (+11.00% compared to last week).
- On FTM, TVL is $9,597,571 (+16.48%)
- On OP, TVL is $16,939,813 (+8.11%)
Volume
The total volume for the previous week is $17,416,738 (-13.89% compared to last week).
- On Fantom, volume totaled $2,705,807 (+31.13%)
- On Optimism, volume totaled $14,710,931 (-19.00%)
Liquidity Providers
What about our BEETiful Liquidity Providers?
During the past week, LPs earned $5k in swap fees and $5.25k in BEETS incentives across both Fantom and Optimism
Pool performance
Fantom
On Fantom, ‘Staked Fantom & Circle Symphony’ (sFTMx/USDC.e) has generated 31.2% of the weekly swap fees, totalling $1,205.88. This was followed by CARTEL SYMPHONY on FTM (POOH / SNOOPFTM / BEER / HOB / PUBGIRLS / sFTMx) which generated $530.78.
Optimism
This week on OP, Gyroscope’s ECLP (wstETH/WETH), continues its reign by pulling in the most swap fees for liquidity providers, generating a total of $527.79 for the week.
This was followed by Ethereum Triplets (wstETH/sfrxETH/rETH) with $231.65.
Yield Capture
Across both chains, ‘Ethereum Triplets’ (rETH/wstETH/sfrxETH) has captured users the most yield fees, bringing in $1,598.07 for the week. The second highest fee generator of the week is ‘Fantom Menace’ (sFTMx/wFTM), bringing in $1,372.95.
Protocol Revenue
During the past week, the protocol generated $6,165 in Swap fees. $7,746 was generated via yield bearing tokens hosted on the protocol, of which, $3,381 flowed to the protocol as revenue.
In total, $5,418 flowed to the protocol as revenue.
This week, our Protocol Fee to BEETS ratio rounds out at 1.15.
So, where does all the protocol revenue flow?
Two routes.
- Gauge Bounties
- Treasury
Gauge Bounties
A portion of all Beethoven X protocol fees flows back to our #maBEETS holders as Gauge Bounties on Fantom.
BEETS WARS is continuing its evolutionary change and is transitioning into: BEETS WARS 2.0. Read the article below to discover everything you need to know about the Beets gauge vote.
In the last gauge vote, $11,518 of incentives were offered as BEETS bounties.
Here are the results:
Treasury
The remaining protocol revenue is utilized to build a sustainable Treasury to ensure longevity of Beethoven X. To ensure diversification, Beethoven holds treasury assets across 3 different chains.
Fantom
On Fantom, the DAO currently holds $943,395 in the treasury, up $159,832 compared to last week. $390,761 is held in liquid tokens whilst $552,634 is actively deployed in farming positions.
Top DAO Farming positions on Fantom
- Staked Fantom & Circle Symphony (USDC.e/sFTMx) on Beethoven X — $370,666
- Trio of Stables (USDC/axlUSDC/USDC.e) on Beethoven X — $121,373
- sFTMx/BEETS liquidity pool on Equalizer- $30,811
Optimism
The Beethoven X DAO holds $1,537,124 in treasury assets on Optimism, up $145,069 compared to last week.
The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($425,733). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.
Besides the OP, $957,548 is actively deployed in LP positions.
Top DAO Farming positions on Optimism
- Rocket Fuel (rETH/ETH) on Beethoven X (Staked in Aura) — $478,371
- Roast BEETS (rETH/lzBEETS) ON bEETHOVEN x — $197,232
- Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked on Aura) — $145,081
- Native Stable Pools (USDC/USDC.e/USDT/DAI) — $136,868
Ethereum
The Treasury also holds over $693,386 of assets on Ethereum, up $19,469 compared to last week. This is predominantly in stablecoins ($336,292), although there is also $92,615 actively deployed in farming positions.
Top DAO Farming Positions on Ethereum
- AURA locked as vlAURA on Aura Finance — $57,533
- veBAL pool (BAL/ETH) on Balancer — $34,986.43
Totals
This brings the Treasury’s total holdings to $3,173,905, marking an 11.38% increase compared to the last Data Drop. Excluding BEETS and OP tokens, the total stands at $2,345,087.
sFTMx
On February 15, 2024, the Beethoven X DAO officially took ownership of Fantom’s leading liquid-staking token, sFTMx. Since then, 23,340,370 FTM has been deposited into the protocol, with 7,542,678 FTM withdrawn.
Currently, 22,366,860 FTM is staked, reflecting a slight decrease of 0.38% compared to the last Data Drop, with 3,551 FTM in the free pool. This brings the total to 22,370,411 FTM, down 0.40%, with an overall value of $10,970,136.
This week, the protocol generated 2,180 FTM in revenue. This was primarily distributed between maBEETS holders and sFTMx Coalition participants, with the remainder allocated to Stader and the BEETS DAO treasury.
