Concerto Programme — 36
Dear Friends and Fellow Ludwigs,
Welcome to another beautiful week. Venus entered into a detail-oriented Virgo on Monday and will help set the tone for an unbelievably positive week. Mercury Retrograde in Libra begins on Friday and that really only points to one thing, unfathomable creativity. Saturday’s Full Moon in Pisces is truly the icing on the cake and offers us the opportunity to take our compositions to an unimaginable level of magicality. The stars are aligned and the planets are in our favour. All that is left for us to do is sing Dear Ludwigs, like there is no tomorrow.
So what’s on the concerto programme this week?
What do Wizards, Giants, Elves and Devs all have in common? Well for a start they are all freakin’ awesome; but they also make the magic happen. The Devs have been back at their usual antics and are steadily BUIDLing. With the launch of V2 now in clear, it’s safe to say the transition to a new UI has been successful. Beautiful! Following on from the Launch, the Devs have been constantly making little tweaks and adjustments to improve the overall look and feel of the new site. Looking towards the horizon, there has been a major focus on the launch of Boosted Pools V2; alongside contract review, the Devs are preparing the infrastructure to support the new technology. It’s going to be exciting, that’s for sure! On more of a progressive note, the beginnings for a new portfolio tracker are underway, but more on that soon! Overall it’s looking pretty sweet Dear Ludwigs, it’s looking pretty sweet!
There is so much music out there it’s hard to listen to it all! We try our best to keep it all lined up; here are the gigs scheduled for this week:
Community Town Hall: The moment we’ve all been waiting for, the monthly Town Hall gathering is finally upon us. It calls for celebration, it calls for festivity! Join us as we take a moment to ponder on the month just past and ruminate on the future. On the agenda this month we have a performance review for the last month, a sneak peek into the highly anticipated sense making study and an update from the X-Fund. Juicy! The Town hall will take place on Thursday, 8th of Sep at 1pm UTC over on Discord.
Tech Tuesdays: Back by popular demand, Tech Tuesdays is slowly becoming a household name. Sit back, relax and join us for a down-to-earth chat with the team on all things TECH. There is no structure to these conversations, just an informal back and forth with yours truly! Bring your questions to the table, big and small, we love to hear your thoughts. Tune in on our Discord this Tuesday at 18:00 UTC.
Weekly Community breathe: Feel like it’s all getting a little too much? Or perhaps you just want to take things to the next level — elevate! The breath is central to many inner practices and plays a major role in the regulation of our nervous systems. From general well being to focused inner work, a consistent breath work practice is almost certainly going to add value to your journey. Join us on Wednesday at 09:00 PM UTC for a community breathwork session with Yogi Astralnaut.
Governance has taken on a life of its own and the melodies coming from that space are truly harmonious. The community is thriving and active discussions about how we can steer Beethoven X into a better future are happening all the time. So much so, it can often be hard to keep up. Here is a quick reminder of the key topics to be on the lookout for:
Proposals up on snapshot
- Increase Treasury’s deposit on Tarot — The vote is live to supply another 250k BEETs to the Tarot lending market. 👇
Proposals under discussion
- veBAL voting power — The discussion is open to acquire veBAL, auraBAL and vlAURA to compliment the emissions from bribing. The proposal looks to use $75k of Treasury funds as an upfront purchase and the monthly treasury portion of the protocol fees obtained from Optimism. The discussion is ongoing in the Treasury forums.
- POL Liquidity Farming — Part I of the treasury restructure, which sought to move Treasury funds into the Rocket Fuel pool on Optimism has been implemented. Part II will become more of a focus once the new factory pools are available.
- LQDR acquisition — The discussion remains open, and while there is a split in the community we await the outcomes of other events before determining the next steps.
Outside of these items, we continue to work on a governance framework that we hope to present to the community for comments in the next few weeks. Stay tune folks, stay tuned.
Protocol Fee Distribution
Another month has come to a close and that can only mean one thing: it’s time to revisit the music from Fantom and Optimism.
Here is the breakdown of the monthly protocol fees and its distribution for August:
- In total we collected $41.4k (at the time of collection), $30.7k from activity on Fantom and $10.7k from Optimism. That brings total fees collected for the year to $1.5m.
- In addition, 170k $BEETS, valued at $9.7k was bought off the open market!
The $41.4k was deployed today in the following way:
- Optimism: 50% of the Optimism Protocol Fee or approx. $5.35k remained behind for future veBAL gauge incentives
- Treasury: 50% of the remaining Protocol Fees or approx. $18k was deployed to the Rocket Fuel pool on Optimism.
- Team: 18% or approximately $6.5k will be transferred to the team, this is used in part to cover the monthly costs for salaries.
- Ecofund: 2% or approximately $0.7k is going to the X Fund to negate any environmental impact Beethoven X has.
- Remaining: 30% or approx. $10.8k will be distributed as voting incentives for gauges taking place in September.
BEETS are back at it again!! Another wave of the bi-weekly Gauge Vote has been completed and we would love to give a big shoutout to everyone who participated. The emission updates for pools will be implemented this Wednesday and the final results for Round 18 can be found in the Tweet below.
Social Science Lab
The social science lab has been a whirl as of late. Josey has been diving deep, real deep. So deep in fact she almost lost sight of the surface; but that’s what it takes to make sense of a world as mind boggling as DeFi, let alone the CryptoVerse. But here we are, out the other side and things look… well, like they make a whole lot more sense! Over the coming weeks we will be breaking down all of the findings and sharing with the community everything we have learned from the study. From chats to charts we look forward to enlightening you all with what was uncovered. Make sure to join in the Townhall this Thursday for a sneak peek into a land previously undiscovered.
Battle of The Beets
A magical, mystical musical competition to find the next virtuoso!
Could it be you? Every single symphony starts as a thought. It’s up to you to nurture it, let it flow, and allow the music to carry you on a stupendous journey of discovery. Get the players together and get the practice in because it is about to go down Ludwigs.
We hope that has spiked your interest! We are currently working on the first community competition in which participants will battle it out for the most prosperous pool created on our platform. It’s going to be fun, it’s going to be exciting and there will be a stack of BEETs up for grabs. Let’s get it, but that’s enough on that for now, more details will be dropping real soon!
There is a lot going down in the Beethoven X household and it can be hard to keep up to speed. That, combined with how fast DeFi evolves and the rate at which the technology is being developed makes it almost impossible to stay on top of the ball. Fear not, aspiring maestros, we have got you covered. We have been working on ways to keep all this information simple and easy to understand and we are stoked to be sharing that with you here.
Learn all about MetaStables pools and what they are poised to do for our future. Get stuck in!
All in all Maestros, a pretty staked week ahead and we couldn’t be more stoked to be making music! Throughout the ups and downs, we still have so much to look forward to and the future is looking bright. Afterall the Harvest Moon shines bright this week and who can argue with that?
Have a magical week.
Love as always,