Beethoven X — a powerful community-driven DEX and DeFi company. The project is managed by BEETS and lives in the Fantom Opera and Optimism network.
Description of the Beethoven X exchange
As the first official friendly fork and built on Balancer V2, Beethoven X uses best-in-class DeFi protocols to offer new decentralized investment strategies. This is the first next generation AMM protocol for Fantom Opera and Optimism.
Functions:
| Weighted investment pools | Turn the concept of an index fund on its head: instead of paying a commission to portfolio managers to rebalance your portfolio, you get commissions from traders who rebalance your portfolio, following arbitrage opportunities. |
| Stable pools | For certain assets that are expected to consistently trade near parity (such as various varieties of stablecoins or synthetics), AMM StableSwap, popularized by Curve, is used. These pools allow for larger trades in these assets before they experience significant price impact. |
| Trade | Beethoven X provides a Uniswap-style trading experience that allows you to exchange one token for another. |
The protocol fee will be shared among the liquidity stakers. Provide liquidity in one of the 80/20 BEETS weighted pools to earn your share of the 30% protocol fees. Where possible, there is a protocol fee for transactions, with 30% of the fees, used to buy BEETS on the open market and redistribute them to liquidity stakers. 50% of the protocol fees will help to create a diversified treasury, controlled by the DAO.
What makes balancer pools different from other protocol pools is their limitless flexibility. While other exchanges have pools with limited options, Balancer V2 Tech can support pools of any composition and basic math. Balancer allows everyone to design their own pool type, opening the door to custom pricing features in trading pools.
Commission fees
The obvious source of protocol fees is trade. Traders pay fees to liquidity providers in exchange for being able to swap them. The fees are expressed in input tokens at the time of the transaction. Protocol fees for trades will be charged as a percentage of the already collected trading fees.
30% of the fees, charged under the trading fees and instant credit protocol, will help to purchase BEETS on the open market and redistribute them to fBEETS holders. 50% of the protocol fees will help to create a diversified LP treasury, controlled by the DAO. 2% of the team's funds will go towards ensuring Beethoven X remains a positive contributor to the environment.