Symphony of the Week: Guqin Qi
Dear Friends and Fellow Ludwigs,
This week’s symphony is named after the famous 7-string Chinese musical instrument. The Guqin. With over 5,000 years of musical history, this instrument was recognized as one for the scholarly class and produced quiet yet magnificent tunes. Our symphony pays homage to its rich history, with its own graceful melody. The symphony of the week is Guqin Qi.
Performance
The pool experienced increasing trade volume from the beginning of the week until 20 Apr. During these 5 days, trade volume increased from $394K to $2.21M. This increase was driven by network activity around MAI. Volume then decreased for the last two days of the week, closing the week with $1m in volume on 20 Apr. Over the 7 days it generated $7.6m in volume where the total liquidity was on average $3.9m over period
Rewards
Due to the volume activity, there was an increase in Swap Fee APR. Over the period the average Swap Fee APR was 6.15%, with the highest daily on the 20th (10.81%) and the low on the 16th (1.82%).
Over the period, Guqin Qi ranked the highest for stable pools for Swap Fee APR. In addition, included in the rewards for this pool are BEETS emissions, Guqin Qi receives 0.47% of all farm emissions. BEETS rewards to this pool totaled $4.5k for the week.
Comparison
Guqin Qi achieved an average utilization rate of 28% over the week, this ranked 4th highest of all liquidity pools. It also achieved a Swap Fee to TVL Ratio of 0.06, which ranks in the top 20. Guqin Qi shows that even as a stable pool, it experienced healthy usage and generated revenues when compared to non-boosted pools.
Conclusion
It is another beautiful week to enjoy the music from the Guqin Qi pool. Thank you for spending your time with us under the star studded skies. Keep an ear out for an encore performance soon; a boosted pool version is in the works! For now, we hope you tune in next week for another symphony of the week.
Not Financial Advice
This feature should under no circumstances be considered financial advice. Each Beethoven X pool is unique and carries the risks of all the underlying digital assets. Featuring on the Symphony of the Week is only a review of past performance. It doesn’t not represent an endorsement of any of the protocols or their digital assets. Beethoven X users should only invest according to their individual risk limits.
Remember that a liquidity pool is only as good as its weakest token. If a token were blacklisted, infinitely minted, frozen, or exploited in any other way, the value of a pool could go to 0. Beethoven X is never liable for losses incurred through using our UI or the Beethoven X protocol. Be careful, and do your own research.
