Symphony of the Week with One God Between Two Stables
About this Melody
Dear Friends and Fellow Ludwigs,
This week’s bold piece soars with fortissimo and currently hovers above all other pools with over $65M in pool value. It embodies adventure and enraptures us with its sublime tune. This brazen tune is named “One God Between Two Stables”.
The pool reached a weekly high in trade volume of $19M on Apr 8th and hit a low of $3.9M USD on Apr 3rd.
In terms of fee generation, even with a 0.005% swap fee, the pool has generated a total of $20K+ of swap fees within a week. Throughout the week, it had of the highest volume of all stable pools.
The daily change in liquidity saw a high of $6.6M on Apr 3, moving total liquidity from $72M to $78.7M. The 8th experienced the pool’s largest decrease in liquidity of $16.8M, dropping total liquidity to $58M, this was primarily driven by a change in the incentives
The APR from this pool is a blend of three elements. Typically,users who provide liquidity receive swap fees and Beets as rewards. However, Deus Finance has taken advantage of further Beethoven X product offerings. By using the Farming as a Services (FaaS) they have incentivized the pool with additional rewards in the form of their native token, Deus.
Total APR for the past week has stayed above 30%, the highest APR stablecoin liquidity pool on Beethoven X. The week saw total APR decrease by ~13%, due to a decline in the dollar value of underlying reward tokens and a decrease in BEETS emission. The BEETS incentives to this pool is driven by the community gauge vote.
If we look across the network we can see that this pool achieved the utilization rate for DEI stable pools across the network. Establishing itself as the no.1 place for DEI stableswaps
While volume was consistently high, when we look a bit deeper against other stable pools, One God Between Two Stables remains below average in terms of utilization rate– a metric calculated by taking average 24 Hour Volume divided by average TVL.
Consistent with this, the Fee to TVL Ratio is also lower than the Stablecoin Average.
This indicates that the large TVL of this stable pool is proportionally used less in swaps when compared to its other Stablecoin counterparts.
In order to improve the capital efficiency, after working together with DEUS, a new boosted version of this pool will be released. The aim is to put that idle capital to work, the target release for the new pool is before the next round of gauge emissions go live.
This pool showcases a lot of the value the Beethoven X can offer partner protocols: Community engagement through the gauge voting system, Farming as a Service, and efficient trading experience and an after pool deployment service.
We look forward to seeing how DEI grows and finds its place in the stablecoin market, and as is very often the case, music is better when played together.
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.