Beethoven X is a Fantom-based decentralized investment and AMM platform built based on Balancer V2.
The rise of decentralized finance (DeFi) services has loosened the grips of overly centralized financial systems and gave people an opportunity to set the course of their own finances. And with the growing number of DeFi platforms entering the market today, the further decentralization of finances will continue to grow and benefit more people all over the world.
The Beethoven X team is composed of individuals with 40 years of combined experience in various fields who share a passion for blockchain technology. They desire to provide advanced yet easy-to-use DeFi tools to the public and empower them to take control of their finances and gain financial freedom.
What is Beethoven X?
It is equipped with a liquidity provider, price sensor, and portfolio manager that can execute tasks that include reducing gas costs, unlocking arbitrage with zero-token starting capital, and more.
Beethoven X allows users to trade from one token to another, a trading style inspired by Uniswap’s functionalities. The platform’s trading convenience is powered by a technology called Smart Order Router or SOR, which is capable of sourcing liquidity from various pools with ease and accuracy.
As a result, it can automatically spot the best price from all the available pools, giving traders quick and profitable trading results.
It also allows investors to create a customized crypto index fund balance that is suited for their preferred asset allocations. They collect fees from traders who rebalance their funds by leveraging arbitrage opportunities. On top of these things, it also equips users with the capability to capture market volatility and only endure a ‘scratch’ or very little impermanent loss.
- To be the top decentralized exchange on the Fantom protocol
- Capture 100% of its platform’s Co2 emissions.
- Maximize the risk-adjustment return of its100,000 + liquidity providers.
BEETS token is Beethoven X’s governance token with a maximum supply of 250 million, and soon, the token’s liquidity stakers will be eligible to collect protocol fees.
The token will soon be involved in future governance decisions such as liquidity mining, collaborations, treasury expenditure, and more.
How to get BEETS?
- Go to BeethovenX.io
- Connect the Metamask wallet (which must already be set on the Fantom network)
- Once inside, use the “SWAP” interface located on the right side of the screen.
- Choose the preferred token to be used to buy BEETS. (Quick tip: Choose USDC to gain the best price)
- Select preview trade
- Approve trade
Beethoven X NFT
All Beethoven X’s NFT collections are created by its talented artist, named “Vee” and are now being traded at PaintSwap, an open NFT marketplace.
‘The First Collection of the Life and Times of Ludwig the Undead’
The OG collection is composed of 500 NFTs and was minted to the platform’s 500 early liquidity providers and supporters.
The collection drew its inspiration from the elements of music, culture, and the biggest events that happened, and are still happening, all over the world.
‘HelpinLudwigs’ is an exclusive NFT collection composed of custom pfp avatars specifically made for Beethoven X’s early and most active supporters.
Each artwork is customized for its recipient and Vee artistically brings out a person’s unique characteristics with each NFT.
‘Mix-Tapes and Mementos’
‘Mix Tapes and Mementos’ goes outside of Beethoven X’s usual and conservative NFT style and chooses a more daring take on art with the help of the platform’s team.
Anyone who purchases an NFT from one of the collections mentioned above will access the platform’s VIP Discord channel and the exclusive Ludwig Lounge, a hub for the most talented musicians.
The lucky ones who can be part of the Ludwig Lounge can get access to various perks such as alpha drops, beta versions of new features, NFTs, whitelist spots, and early access to Fantom projects.
Stable pools are meant to accommodate large trading of assets that are anticipated to trade at near parity before unwanted events happen, such as big price impacts.
Liquidity Bootstrapping Pools
Liquidity bootstrapping pools are used for launching and swapping big amounts of tokens over time. These pools implement weight shifting mechanisms to initiate high start prices with consistently changing sell pressure.
MetaStable pools, which will be launched in Beethoven X soon, are a generalization of stable pools that have tokens with known exchange rates.
These pools implement equations similar to what stable pools are using, but these equations can also be used to initiate swaps between tokens whose prices are shifting gradually.
Trade Fees and Flash Loan Fees
Trading fees occur when traders pay liquidity providers for their service for executing successful swaps, and these fees are denominated in the Input Token when executing a trade.
The protocol fees for trading transactions will be collected as a percentage of the trade fees already being collected, which is also called “a fraction of a fraction.”
Flash Loan Fees are another source of the Protocol Fees, and in their case, they are collected from Flash Loan interests.
Protocol Fee Distribution
|Percentage||Where Will It Go?|
|30%||It will be allocated to purchase BEETS off the market, which will then be redistributed to fBEETs holders.|
|50%||It will be used to establish a DAO-controlled LP treasury.|
|20%||It will be kept by the team to fund development and infrastructure projects.|
Beethoven X Climate Fund
2% of the team’s protocol fees is allocated to fund the green initiatives of the platform and implement ways to keep Beethoven X as an environment-friendly platform.
The fund will be funneled into nature-based Co2 capturing solutions (forestry and regenerative agriculture) and tech-based capturing (direct carbon-capturing)
The climate fund aims to continuously reduce the platform’s footprint to serve as an example to other blockchain platforms, especially the DeFi ones.
What’s great about Beethoven X is that its long list of features is all relevant and aligned to delivering the best possible DeFi service for its users. As many platforms today race to deliver boatloads of features (with a chunk of them being irrelevant), Beethoven X takes on a different track by pushing quantity and relevance at the same time.