We want YOU to join the sFTMx Coalition!
“Unity is strength… when there is teamwork and collaboration, wonderful things can be achieved.”
The Fantom network boasts a heartfelt history of unity and collaboration. A tradition that Beethoven X aims to allow to flourish with the creation of this spellbinding, staked security rising, revenue-prizing, sFTMx Coalition 🎶
What is the sFTMx Coalition?
It’s simple, Ludwig’s! 50% of all sFTMx revenue will be used to reward protocol participants who pair their native token with sFTMx in a Liquidity Pool.
The main goals of this enigmatic endeavor are as follows:
- Promote collaboration and unification amongst the Fantom ecosystem.
- Increase the amount of FTM staked under sFTMx.
- Increase awareness and impact of sFTMx among communities.
Every Fantom protocol that pairs sFTMx with a native token is welcome to apply to join the sFTMx Coalition. They can use any DEX they choose and may use the rewards in whichever way they see fit to further their vision within the Fantom ecosystem.
sFTMx Success Story
Since taking over the sFTMx staking contracts from Stader, Beethoven X has seen explosive growth in the amount of FTM staked.
At the time of writing, sFTMx currently delegates 16.4 million FTM to 11 nodes, increasing the network’s economic security, expanding decentralization, and increasing ecosystem TVL. While already scintillating, the formation of this colation provides the final and fanatic melody — Rewarding and empowering ecosystem protocols.
This new sFTMx Coalition will share the success of sFTMx with the entire ecosystem while simultaneously bolstering the economic security and decentralization of the Fantom network.
“Alone we can do so little; together we can do so much”
sFTMx is the only Fantom asset in which all ecosystem protocols are welcome to hop in and share a ride down prosperity lane.
Already joining the Coalition are the good people at Equalizer. They have created an 80/20 pool on BeethovenX that currently sits at over $200,000 TVL and offered their collaborative support. Any protocol that qualifies for the coalition which desires to house their sFTMx LP on Equalizer, will be given special consideration for a full listing on the exchange.
The Coalition ranks are also currently bolstered by Sonic India, operator of node #48 with his token $FKINGS. Blockchain Ecologist and his token $ECO. MoonBay with their token $BAY.
How to apply, how does it work, and what’s the catch?
Requirements
The only requirement is that the project has a native token deployed, verified on the Fantom Opera network, and paired with sFTMx within an LP. This LP does not have to be the primary liquidity for their token, it can be a secondary LP, and protocols can have multiple qualifying pools on multiple DEXs.
Reward Calculation
Half of all sFTMx revenue will be designated for Coalition rewards. That revenue will be distributed bi-weekly to participating protocols based on the average amount of sFTMx their ProtocolToken/sFTMx LP contains, relevant to the total amount of sFTMx that all participating LPs contain. It will also account for two multipliers based on the criteria listed below.
Multiplier points
The specific reward distribution also accounts for pool weights which would provide more TVL and potential trade volume while having less total underlying sFTMx. There is also a small multiplier that incentivizes the use of Beethoven X to house the liquidity. Here is a document that further explains in finer detail.
Note
The Music Directors (MDs) retain ethical discretion as outlined at the end of the document linked above. This is to help ensure that the coalition rewards distribution can remain fair and balanced as new and unique parameters present themselves. In this fashion, together, we shall all harness the power of sFTMx and share in the glory of its success.
Apply
Applying for the program is as simple as filling out this short form.
What next?
“The best way to predict the future is to create it.”
The coalition is far from its final form of evolution. Embracing arms will be further extended to include other uses of sFTMx such as money markets and other captivating compositions currently being analyzed.
The Coalition intends to bring love and light to as many protocols as possible. As we eagerly await the launch of the Sonic network, plans are in discussion to bring the Coalition to new heights of joyful and musical exuberance!
With love,
The Beethoven X team
🎶
