Symphony of the Week: Battle of the Bands Remastered
Dear Frirends and Fellow Ludwigs, it is time for Symphony of The Week!
About this Melody
The act of remastering music essentially improves the quality of the original copy of a song or album. It removes flaws from the music, providing a cleaner, sharper and more refined listening experience whilst trying to bring the music up to date with current standard.
This week we feature a symphony that has gone through that exact process, a popular original brought up to the current standard. It’s none other than Battle of the Bands Remastered
Trade volume began the week with $32K (July 02) and grew over the rest of the week. The rest of the week saw volumes of at least $70k, more than double those achieved on 02 July.
July 08 saw a significant increase in volume where a weekly high of $438k was reported.
TVL started the period at $270k which saw an upward trajectory over the next five days. In those six days the largest TVL movement was on 06 July where TVL increased by $172k, a 52% increase from the previous day. Similar to the reported volumes, the $279k increase 08 July brought about the largest inflow of TVL across the period, a 64% increase from the prior day.
Swap Fee APR followed a similar pattern to that of volumes with a low for the week of 44% (July 02) and the high of 223% (July 08).
In addition to swap fees, Battle of the Bands Remastered received liquidity mining incentives. The first half of the week saw the BEETs rewards APR consistently above 31%, which then started to decline over the last few days. BEETs APR closed the week at 16%
For the period, Battle of the Bands Remastered ranked in the top 5 for volume across all pools on Fantom. The daily utilization rate was regularly above 10% and peaked at 61.07%% (July 08).
If we consider the cost of rewards allocated to the pool we can see that for the whole period, each $1 of rewards spent generated >$1 in swap fees. The low for the week was $1.25 (July 02) while the high was $13.88 (July 08).
This week saw the full impacts of what remastering is capable of doing. A once popular symphony now playing a higher quality.
Until next week
At Beethoven X we like to enjoy all kinds of music, rock, jazz, classical, trip hop, each symphony is unique in its design. So while we may applaud the show, it doesn’t mean we think you should buy a ticket