Beethoven x
Let’s spin those vinyls and drop some BEETS

Dear friends and fellow Ludwigs,

After a successful soft launch with many happy users, 1.2 million TVL achieved without incentives, and only a few small hiccups, it is with great honor that we invite you to the second movement of the Beethoven X Symphony: The BEETS Liquidity Bootstrapping Event.

We aim to launch Thursday of this week (calendar week 40), and will announce more precise timing at least 24 hours prior to launch.

EDIT: Precise timing. The event will take place on Thursday 07.10.21 at 14.00 UTC and end on Friday 08.10.21 14.00 UTC.

What is a Liquidity Bootstrapping Pool?

A Liquidity Bootstrapping Pool (LBP) is a special type of weighted pool built specifically for launching new tokens. Think of it as a conductor presiding over an orchestra defining and controlling the sounds it makes. (Yeah that analogy was hard and it doesn’t really say anything…).

  • LBPs are not like a regular weighted pool. The price usually starts very high to disincentivize bots, front-running, and speculation, allowing for safer and less aggressive token launches.
  • LBPs are programmable smart pools where the weights shift over a pre-defined period of time, creating constant downward pressure on the price of the new token.

For more detailed information on LBPs, we recommend you have a look at the following content:

  1. ICO Investor: What is a Balancer Liquidity Bootstrapping Pool
  2. Balancer documentation on Liquidity Bootstrapping Pools

Why did we choose to launch using an LBP?

We’re classical like that, coming from a time when gentlemen threw their jackets over rain puddles so the ladies wouldn’t get their feet wet.

All jokes aside:

  • We’re here for the long run, we have time and we want to build something sustainable together with you.
  • We believe LBPs to be the fairest and most sustainable way to launch a token for all parties involved.

In a Liquidity Bootstrapping Event, the price starts high and then declines slowly over time, giving Ludwigs the opportunity to buy in when they feel that a fair market price has been reached. We advise all Ludwigs to take a pause prior to purchasing. It is in your best interest to be patient throughout the event. We should listen to the music first, then start dancing.

Question: Can the price also not go down?
Answer: Absolutely. If there is enough buy-pressure, the price will not necessarily go down.

We would like to give credit for this mechanism to the Balancer team — it is a truly foundational piece of work that creates safer and less aggressive token launches.

How do I acquire BEETS in 9 simple steps?

Note: The Liquidity Bootstrapping Event interface is not yet online.

  1. Go to
  2. Connect your Metamask wallet. (Make sure you are on Fantom Opera)
  3. Notice what Ludwig has to say in the top right corner.
  4. Explore the graph on the left, breathe, maybe make a coffee.
  5. Use the “SWAP” interface on the right side.
  6. Select the token you want to use to purchase BEETS (Use USDC for the best possible price).
  7. Click preview trade.
  8. Breathe.
  9. Approve trade.

Congrats you are now a holder of BEETS. If you haven’t already joined our Discord, please come on over:

What can I do with the BEETS I just purchased?
WARNING! DO NOT eat them, even though they sound and look tasty.

BEETS is the governing token of Beethoven X, future governance decisions including the treasury expenditure, collaborations, liquidity mining, etc. will be made by BEETS holders.

You can deposit BEETS in the BEETS/USDC 80/20 weighted pool; liquidity stakers will not only enjoy juicy farming rewards but also platform revenue shared from trading fees.

Farming incentives will go live approximately two hours after the end of the Liquidity Bootstrapping Event.

For more information, check out our documentation at:

The event in more detail:

The LBP will use the allocated 2% of the Total Max Supply of BEETS (5,000,000 BEETS) and $43,000 worth of USDC. Beethoven X Tokenomics here.

  • 5M BEETS tokens will be distributed using a Liquidity Bootstrapping Pool (LBP).
  • The LBP will run for 24 hours and is open to anyone.
  • The LBP is not like a regular weighted pool. The price will start very high to disincentivize bots, front-running, and speculation.
  • Below is a graph that shows the BEETS/USDC pool weight starting at 95/5 (with a high BEETS price) and declining to 80/20 (lower BEETS price) over 24 hours.
  • At the end of the 24 hour period, the funds will be transferred from the LBP into an 80/20 BEETS/USDC weighted pool.
  • The LP tokens received by the development team for making the initial pool will be deposited into the BEETS/USDC farm on behalf of a vesting contract that will be time-locked for 180 days. The farm rewards will not be vested.

NOTE: the graph below assumes no buy/sell orders, the price will very likely fluctuate at variance with the below model as we expect buying pressure to occur. The models below are only an illustration of the basic operation of the LBP function.

BEETS Price simulation assuming no buyers/sellers
BEETS Price simulation assuming no buyers/sellers

Final disclaimer: Chill like a Ludwig.

Please play pianissimo, go in slow, adagio. Keep fomo to a minimum and please do not get rekt. Remember, this is just step one of a long journey. Don’t rush, there will always be more opportunities.

Back in the days, roughly in 1790, when we played for the gentleman The Emperor of Austria, his highness The Archduke Maximilian Francis. We were backed heavily by state funds. Gold chest in castles (really!). In that case it was easy to take risks, go in half deaf and create insanely amazing symphonies. Times have changed.

Ludwigs, take care, stay sane, and listen for the nuances in the music.

If you have any questions, you can always reach out on Discord, we are there for you.

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