Introducing — Beethoven X
We’re proud to introduce Beethoven X, the first next generation AMM protocol on Fantom Opera. It brings all the goodness of the proven Balancer V2 protocol but it does not stop there! Beethoven X aims to be a one-stop decentralized investment platform on Fantom. We leverage best in breed DeFi protocols to offer novel decentralized investment strategies.
Beethoven X builds on the strong foundation the Balancer team has laid by creating an automated portfolio manager, liquidity provider, and price sensor. It turns the concept of an index fund on its head: instead of paying fees to portfolio managers to rebalance your portfolio, you collect fees from traders, who rebalance your portfolio by following arbitrage opportunities. It provides features to slash gas costs, super-charge capital efficiency, unlock arbitrage with zero-token starting capital, and open the door to custom AMMs.
Sounds great right? But we don’t want to just sound great. We want to build a strong, open and inclusive community based on transparency and trust to make this project thrive. We will always put the user needs first and the best way of accomplishing this is if we are our own users. We love the Balancer approach and just had to make it happen because it’s the product we are missing most on Fantom. But we wont stop there, we thrive for innovation and will never stop exploring possibilities to make this product even better! No matter what we do, we will do it with the same mindset with the goal to create a sustainable ecosystem. So you won’t be surprised to see us apply the same principals to our tokenomics leveraging buybacks from swap fees and much more. So stay tuned for more information on that!
Now & the near future
The initial launch will support the well known weighted & stable pools.
Weighted Pools are a generalization of the standard constant product AMM popularized by Uniswap. Each pool can contain up to 8 different tokens and each token is assigned a weight defining what fraction of the pool is made up by each asset.
For certain assets that are expected to consistently trade at near parity (e.g. different varieties of stablecoins or synthetics) a more efficient design is the StableSwap AMM as popularized by Curve. These pools allow for larger trades of these assets before encountering significant price impact.
MetaStable Pools (Coming soon)
These are a generalization of stable pools that contain tokens with known exchange rates. They use equations similar to those of stable pools, but can be used to facilitate swaps between tokens that have gradually shifting prices. Think fUSD on top of a USDC/DAI stable pool.
Learn more about the different pools in our docs.
Meet the MasterChef (Coming soon)
To generate even more revenue from your provided liquidity, we will soon open our kitchen with the well known MasterChef behind the stove! As you probably know, he’s a nice guy and has already sharpened his knives to serve you some fresh $BEETS tokens in reward for your staked LP tokens.
Check out our roadmap to stay up to date!
Our team has more than 40 years of combined experience in building technology that matters. After many successes building great customer experiences in unusual places, we have realized we want to change the world even more. We have decided to let our past experiences in finance shine through. Enable diverse backgrounds from NGO to Farmer come to fruition. Merge all this with our shared love for the blockchain movement and cryptocurrencies.
Thus creating a new kind of symphony — we call it Beethoven X.
We believe in building beautiful but safe DeFi on Fantom that can empower and will adapt to the new order of blockchain technology in the coming months and years. We think everybody deserves a chance to take control of their financial freedom.