Symphony of the Week Opus 20: A Late Quartet

Dear friends and fellow Ludwigs! It is time for Symphony of The Week.

Disclaimer:
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

About this Melody

This week is a celebratory week for us, this edition is our 20th release of symphony of the week! To mark this occasion we are featuring a fan favorite.

It is a pool of four players who have been the stars of many successful shows, both on Beethoven X and across the entire industry. We decided to put them together to see what they could come up with. The result was a melody so unique it’s become a show stopper.

Featuring the wonderful sounds of wETH, wBTC, FTM and USDC; it is none other than our very special A Late Quartet.

Performance

Trade volume began the week with $999K (July 16) which then decreased slightly to $884k (July 17), the low for the week. The next two days saw significant increases where volume almost doubled to $1.6m (July 18) and then doubled again to $3.3m (July 19). This volume was driven by the price movements of FTM, wBTC and wETH over those two days. Those three tokens then found a bit of price stability which meant volumes came down over the next few days, with 1.3m being recorded on the last day of the period (22 July)

TVL followed a similar pattern to volume, where the most growth was seen on the 18th and 19th, where TVL peaked at $14.4m. The next day (20 July) saw a $3.9m decrease in TVL which was also the biggest drop in the period. From then TVL stayed in the $10m range and closed the week at $10.3m. Across the 7 days, average TVL was $10.5m

Rewards

As Swap Fee APR is a product of volume and TVL, the trends mentioned above can also be seen here. The low for the week was 9.01% (July 17) before APRs grew over consecutive days to reach a high for the week of 21.75% (July 20). Returns then reduced over the next two days, closing the period with 11.45% (July 22)

A Late Quartet also receives BEETs rewards as liquidity mining incentives. For the majority of the period rewards APR stayed constant between 4.35% and 5.15%.

Comparison

On the Fantom network, over the 7 day period A Late Quartet Ranked:

  • 1st in Swap Fees Generated and total Rewards to Liquidity Providers
  • 1st in Average TVL
  • 2nd in $ of traded Volume and
  • 4th in Swap Fee: Emissions ratio

The average utilization rate over the period was 16.38% with a low of 9.87% (July 17) and a high of 23.83% (July 20).

The average Swap Fee: Emissions Ratio was 3.17, with a low of 2.02 (July 16) and a high of 4.72 (July 20). This metric is important as

Conclusion

These four stars continue to put up a good show, we can only hope that this music continues!

The 20th edition is a milestone for us and we would just like to say thank you to you, the readers, for going on this journey with us!

Until next week

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store