Earn Up to 33% APR on Fantom’s Beethoven-X with Stablecoins
Fantom's Beethoven-X
Before we get started, this is not a recommendation or endorsement to buy BEETS or any tokens mentioned below.
In the hunt for easy and familiar yield farming, I stumbled upon another AMM fork on Fantom, based on Balancer v2, launched in early October 2021 called Beethoven-X. The team has been steadily grown TVL to just over $357M without hiding the fact they forked the code built by one of DeFi’s premier teams–Balancer,
Beethoven X describes itself as an automated portfolio manager, liquidity provider, and price sensor that powers decentralized exchange and the automated portfolio management of Fantom tokens. Like Balancer, you can do seemingly magical things to create DeFi native indexes or flexible liquidity pools to optimize for new LP exposure. Balancer and Beethoven-X pools can have up to 8 tokens and each token can be individually weighted within the pool, such that one token can make up as little as 2% of the total. You can even combine pools with other new pools to end up with net exposure of more tokens than 8 tokens.
The team is made up of anonymous founders and contributors who have established some new credibility as builders on Beethoven-X but to be clear, this is still wild west territory in DeFi and one should always assume they can lose 100% of their money due to a unknown bug/exploit or even worse, a rugpull by a core team member. That said and risk heeded, Beethoven-X has a native governance token, BEETS, that’s grown in market cap to about $157M FDV, so there is skin in the game to hopefully keep contributors aligned
