Beethoven-x

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Revision as of 19:38, 21 April 2022 by 0xngmi (talk | contribs) (removed some marketing speak)
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Beethoven-x is a Balancer v2 fork on the Fantom Opera Network, and was voted by the Balancer DAO to be the first friendly Balancer fork on the network. [1]

Beethoven-x allows users to create their own unique index funds. Beethoven-x utilizes weighted liquidity pools, with up to eight different tokens, which earn fees in $BEETS from traders. The weighted pools are constantly rebalanced by traders who spot arbitrage opportunities.

Beethoven-x has a governance token, $fBEETS, which is an 80/20 weighted pool of $BEETS and $FTM. The governance token has a triple yield, 30% of protocol fees are distributed to holders, liquidity providing swap fees, and farming incentives. The governance token is also used to vote for liquidity incentives through snapshot proposals.

Boosted Liquidity Pools

In March 2022[2], Beethoven-x released their cutting edge technology, Boosted Pools. The amount of liquidity needed for daily trades is usually much less than what is deposited, leading to a lot of idle capital. Beethoven’s boosted pools takes this idle capital and deposits it into revenue generating strategies to earn an omnipresent yield on the liquidity provided.