Farmers Markets #10: Vote your maBEETS

22 Jun 2024

If you aren't familiar with the veTOKEN model please check out my explainer post on Bulb

If you want to know more about the analysis here see my post on Bulb about analysing for veTOKEN votes

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.

Voting maBEETS - round 65

Beethoven X Snapshot
Beethoven X Fantom pools
Beethoven X Hidden Hand
Fantom Block Explorer
Beethoven X Blog (Medium)
Beethoven X Discord

Beethoven X Discord: Updates > guage-vote

Ludwigs, Round 65 of the Beethoven X Gauge vote on Fantom is OPEN.

This vote is to decide 50% of BEETS farm emissions for the period of 26 June 2024 to 9 July 2024

We have now adjusted the gauge vote with the changes listed here: ⁠🗳︲gauge-vote⁠ The pools that have contributed more than 1% of the last two weeks fees will have protocol bounties placed on them in relation to the fees they have generated. This vote's protocol bounties will be in the form of Fantom Menace BPTs.

The qualifying pools in order are:
• Fantom Menace
• Staked Fantom & Circle Symphony
• +EQ : Bass Boosted
• Dropping the fBOMB!
• Trio of the Stables
• FMoney with Attitude Vol. 2
• The Explosive mFTM
• Memedex Vol. 1
• The f(MULTIBOMB) Profanity
• Primordial Fluid: ECO-System 01
• Memedex Comp: Season 1
• Duet of Staked Fanties

The participating pools with limited emissions this round are:
• Kings Love for Sonic (Emissions capped at 2% votes)
• Deus ma non troppo (Emissions capped at 1% votes)
• Fantie's in yo Pantie's (Emissions capped at 1% votes)

And a big welcome to the new pools entering the gauge vote, make sure to check them out:
• Dogs In The Yard
• Memedex Comp: Season 1

BPT rewards

Where I voted last time

We like fMoney as a project and think FBUX is well priced right now so we're voting for fMoney with Attitude Vol. 2. This will, at current prices, get us approx. 19 USD in rewards at current vote distributions.

How we did

Not great. Just under half the rewards (USD) we had predicted. Though this was also affected by a pretty severe market pullback too.

Where I'm voting this round

Bribe markets

Voting power

We've looking at the raw return per 10K votes. Roughly we currently have 60K votes.

If we look at the top 10 in terms of ROI, we see Trio Of Stables is the best.

But it only ranks 7th in terms of total votes. So that indicates there's a higher risk of reward dilution come the end of the voting period.

Fantom Menace is 4th in terms of votes and ROI. An added bonus is we already have a position in the LP so the BPT rewards are able to be directly deposited into that.

$FTM has taken a bit of a hammering of late so there's a chance we'll also catch some positive price action too.

Current vote distributions

Given the solid position of Fantom Menace in both current ROI and current vote total coupled with both the poor recent price action of FTM and the fact we hold an existing position in the LP which the BPT rewards are for we're going with it for this vote round.
We're looking at ~14 USD in total rewards.

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!

Over to you

Are you a regular voter on Beethoven X?
What level Relic/s do you have?
Who are you voting for this time around?

Let me know in the comments.

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