Hello everyone, I am writing this post as a member of the BeethovenX DAO in regards to the Balancer & BeethovenX joint deployment on Optimism.
As of Decemeber 31st, Beethoven X has spent a net of 153k $OP tokens, with 171k $OP bought back from the open market with protocol fees. This structure helped amass $30 million in TVL in December. The DAO is proud of how mutually beneficial and efficient this strategy has been in terms of $OP spent and will continue to move forward with new implementations and partners.
Some partner protocols asked the Beethoven X DAO to distribute their $OP grant on their behalf; these are all included in the table’s inflow and outflow.
Currently, the combined Balancer/BeethovenX deployment holds the highest amount of rETH, sfrxETH and wstETH liquidity on Optimism in a myriad of pools catered to different risk flavors, and the DAOs sustained approach for the grant has enabled a continued reward emission with a minimal usage and a higher throughput.
With Aura Finance fueling cross chain boosts we look to further increase the usability and composability of yield bearing assets.
If you would like to verify any numbers discussed above, the Beethoven X DAO Treasury multisig is found here: