Da Weekly Data Drop — #72
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: $25,286,848 (a decrease of 4.71% from last week)
- On Fantom (FTM): $8,789,662 (down 8.42%)
- On Optimism (OP): $16,497,186 (down 2.61%)
Volume
Total Volume for the previous week: $21,134,090 (up 21.34% from last week)
- On Fantom (FTM): $7,011,512 (a significant increase of 159.13%)
- On Optimism (OP): $14,122,578 (a slight decrease of 4%)
Liquidity Providers
What about our BEETiful Liquidity Providers?
During the past week, liquidity providers earned $7.88k in swap fees and $5.84k in BEETS incentives across both Fantom and Optimism.
Pool performance
Fantom
On Fantom, ‘Staked Fantom & Circle Symphony’ (sFTMx/USDC.e) has generated 28.4% of the weekly swap fees, totaling $1,724. This was followed by Fantom Menace on (sFTMx/wFTM) with $770.71.
Optimism
This week on OP, Gyroscope ECLP (wstETH/WETH), remains on top by pulling in the most swap fees for liquidity providers, generating a total of $499.68 for the week.
This was followed by Native Stable Beets (USDC/UDCC.e/USDT/DAI) with $278.67.
Yield Capture
Across both chains, ‘Fantom Menace’ (sFTMx/wFTM) has captured users the most Yield fees, bringing in $1,649.68 for the week. The second highest fee generator of the week is ‘Ethereum Triplets’ (rETH/wstETH/sfrxETH), bringing in $1,490.48.
Protocol Revenue
During the past week, the protocol generated $7,875 in Swap fees. $7,784 was generated via Yield Bearing tokens hosted on the protocol, of which, $3,314 flowed to the protocol as revenue.
In total, $5,670 flowed to the protocol as revenue.
This week, our Protocol Fee to BEETS ratio rounds out at 0.97.
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.
Round 70 of the Gauge vote is now OPEN! This vote is to decide 50% of the $BEETS farm emissions for the period of 4th September to 17th September 2024.
Check out this link to find out more:
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 $835,474 in the treasury, down $107,921 compared to last week. $322,545 is held in liquid tokens whilst $512,929 is actively deployed in farming positions.
Top DAO Farming positions on Fantom
- Staked Fantom & Circle Symphony (USDC.e/sFTMx) on Beethoven X — $331,569
- Trio of Stables (USDC/axlUSDC/USDC.e) on Beethoven X — $121,459
- sFTMx/BEETS liquidity pool on Equalizer- $34,324
Optimism
The Beethoven X DAO holds $1,440,532 in treasury assets on Optimism, down $96,592 compared to last week.
The majority of assets held on the Optimism treasury wallet are the remaining OP grant funds ($391,767). This OP grant is continuously paired with a portion of generated protocol fees to incentivize LPs on Beethoven X.
Besides the OP, $897,331 is actively deployed in LP positions.
Top DAO Farming positions on Optimism
- Rocket Fuel (rETH/ETH) on Beethoven X (Staked in Aura) — $450,105
- Roast BEETS (rETH/lzBEETS) ON Beethoven X — $173,431
- Native Stable Pools (USDC/USDC.e/USDT/DAI) — $136,980
- Gyroscope E-CLP (wETH/wstETH) on Beethoven X (Staked on Aura) — $136,547
Ethereum
The Treasury also holds over $671,109 of assets on Ethereum, down $22,277 compared to last week. $214,436 are in stablecoins, although there is also $92,615 actively deployed in farming positions.
Top DAO Farming Positions on Ethereum
- AURA locked as vlAURA on Aura Finance — $53,729
- veBAL pool (BAL/ETH) on Balancer — $32,003
Portfolio of 0xea06…0e26 | DeBank | The Real User Based Web3 Community
Totals
This brings the Treasury’s total holdings to $2,947,115 (down 7.15% compared to the last Data Drop)
($2,376,121 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, 23,699,173 FTM has been deposited into the protocol with 7,948,264 FTM in withdrawals.
Currently, 21,367,064 FTM is staked (-4.47% compared to last Data Drop), with 451,002 FTM in the free pool. This brings the total to 21,818,066 FTM (-2.47% compared to the last Data Drop), with an overall value of $9,102,159.
This week, the protocol has generated 2,254 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.
Outro
We’re Beetin’ N Bustin’ — did you groove to the data? Sweet! Until next week, Maestros.
You can keep up to date/interact in real-time with the two analytic platforms below:
Love as always,
Beethoven X
