Farmers Markets #15: Vote your maBEETS

BbyA...nMtW

21 Jul 2024

168

If you aren't familiar with the veTOKEN model please check out my explainer post on Bulb https://www.bulbapp.io/p/270273dd-697b-4332-85ac-db65e50bb46d/vetokens-defi-lore-innovation-yield-from-voting?s_id=bccb5ecb-0380-433a-9e2e-f1405a0305e2

If you want to know more about the analysis here see my post on Bulb about analysing for veTOKEN votes
https://www.bulbapp.io/p/d82b629d-6790-4bfe-b185-c1156997baf4/farmers-markets-0-beets-aero-velo-equal-gauges?s_id=d3ffcb86-d4db-4c5f-acc5-0546d4c1744c

To note about voting rewards on Beethoven X

Beethoven X does voting rewards a little differently to most guage vote platforms. As well as having individual token rewards they'll often reward in LP tokens. For example the rewards for Staked Fantom & Circle Symphony (below)

Are the BPTs (Beethoven Pool Tokens) for the Fantom Menace LP on Beethoven.

https://beets.fi/pool/0x593000b762de3c465855336e95c8bb46080af064000000000000000000000760

Read more on X

Voting maBEETS - round 67

Beethoven X Snapshot https://snapshot.org/#/beets.eth
Beethoven X Fantom pools https://beets.fi/pools
Beethoven X Hidden Hand https://hiddenhand.finance/beethovenx
Beetswars https://www.beetswars.live/
Fantom Block Explorer https://ftmscan.com/
Beethoven X Blog (Medium) https://beethovenxio.medium.com/
Beethoven X Discord https://beets.fi/discord

Beethoven X Discord: Updates > guage-vote

Ludwigs, Round 67 of the Beethoven X Gauge vote on Fantom is OPEN. https://snapshot.org/#/beets.eth/proposal/0x03274884e9a10e7db6ea24d3e56f9b635ab6774eb90ecdba092dec87c6a712c3

This vote is to decide 50% of BEETS farm emissions for the period of 10 July 2024 to 23 July 2024 The pools that have contributed more than 1% of the last two weeks fees (or eligible new pools) will have protocol bounties placed on them in relation to the fees they have generated. This vote's protocol bounties will be 4924 Fantom Menace BPTs, valued ~$2.6k at current prices.

The qualifying pools in order are:

Fantom Menace
Staked Fantom & Circle Symphony
Trio of the Stables
Dropping the fBOMB!
+EQ : Bass Boosted
CARTEL SYMPHONY on FTM
Memedex Comp: Season 1
FMoney with Attitude Vol. 2
The Explosive mFTM
Duet of Staked Fanties
Fantom's Ghostly Sonata

The participating pools with limited emissions this round are:

Explosive Reliquary (Emissions capped at 1% votes)
Fantie's in yo Pantie's X-Rated (Emissions capped at 1% votes)
Deus ma non troppo (Emissions capped at 1% votes)

And a big welcome to the new pools entering the gauge vote, make sure to check them out:

sGOATx https://beets.fi/pool/0x4c28cfab9315857cd7086c770758ca80ab7b66aa000200000000000000000861
Foil Fugue https://beets.fi/pool/0xd4dbc9c2cb9baa852c9608459417e7191085d16200020000000000000000085c
Equilibrium: ECO-System 02 https://beets.fi/pool/0x79c8d08feebd8c82d9865dd1ad6ebb7c6d4939d3000200000000000000000862
Conspiracy Concerto https://beets.fi/pool/0x987c893a4c0e547196cea19ca872a7c8da60854a000200000000000000000864

BPT rewards

https://beets.fi/pool/0x593000b762de3c465855336e95c8bb46080af064000000000000000000000760

Where we voted last time

Given we already hold a FBUX position, there's more votes, and there is more potential upside to a newer token which is still figuring out their value proposition in the market (of course that is paired with opposite downside...) we're voting for fMoney with Attitude Vol. 2

Current Voting ROI: $41.7709

How we did

Poorly to say the least. Hopefully we can do better this time out!

Where we're voting this round

Bribe markets

We're taking a little bit of a different approach this time out and sorting by Votes and not $/10K Votes as we normally do. We're looking to see which returns are less likely to be volatile.

Voting power

https://beets.fi/mabeets

We've looking at the raw return per 10K votes. Roughly we currently have 62K votes.

It's all about the incentive structure this time out. All the highlighted LPs are non FTM rewards. The rest are FTM rewards, either Fantom Menace BPTs or WFTM.
So it's a case of figuring out which token/s we think will deliver decent price action.

sGOATx: SGOAT https://www.coingecko.com/en/coins/sonic-goat
Dogs In The Yard: FDOG https://www.geckoterminal.com/ftm/pools/0xb63572ce5bcf5df2f954c62a2b6d28045f45fc43
Deus crescendo: DEUS https://www.coingecko.com/en/coins/deus-finance
CARTEL SYMPHONY on FTM: A portion of incentives are in Fantom Menace BPT but the majority are in a collection of pretty small memecoins.

Incentives from Fees: $86.06 (Fantom) BB-FTMMEN
Incentives from Partners: $254.50
- $31.62 (Fantom)
- HONEYBEER $31.89 (Fantom)
- TEQUILA $58.10 (Fantom)
- CARTEL $34.55 (Fantom)
- SNOOPFTM $33.48 (Fantom)
- PUBGIRLS $34.19 (Fantom)
- BEER $30.68 (Fantom) POOH

Current vote distributions

As we already hold a position in these Beethoven LPs, and they've had very high APRs, we're going to split our vote across each of them to harvest the rewards for our existing positions.

Memedex Comp: Season 1 - SGOAT rewards https://beets.fi/pool/0x80a02eb6c4197e571129657044b0cc41d6517b5a00010000000000000000084b

Dogs In The Yard - FDOG rewards
https://beets.fi/pool/0x3e0ce0a66660214f00e3044bd2919caf585d8fde00020000000000000000084e

Current Voting ROI: $17.4611

The latest from Beethoven X

Check out the most recent updates from Beethoven X.
Make sure to give their blog posts a clap and comment on Medium as well as a like, comment and share on X!