Alright, fellow crypto enthusiasts, today I want so share with you some information on a wonderful group of yield farms on the Fantom Opera Network. The platform is called Beethoven X. But first let me give you a basic rundown of some of the Fantom statistics.
Fantom Facts
(per coingecko.com)
Fantom (FTM) #38
Current price : $1.36
Fully Diluted Valuation : $4.319 Billion
Circulating Supply : 2,541,152,731
Max Supply : 3,175,000,000
All Time High : $3.46 - October 28, 2021
All Time Low : $0.00190227 - March 13, 2020
24 Hr Trading Volume : $1,124,002,414
When analyzing Fantom the statistic that sticks out to me is that the coin is only two years old, yet nearly 80% of its maximum supply is in circulation. As the remainder is purchased you will begin to see the value of the coin go up immensely.
Yield Farming on Fantom
There are several farming platforms that one can choose from on Fantom Opera network. Spookyswap has yield farms but is better known as the cheapest place to swap your Fantom tokens with a 0.2% swap fee. Spiritswap is the older exchange on the network and also offers yield farming. Beefy Finance is a multi-chain yield farming platform that also offers Fantom yield pools. In fact, I've read that they house a pool with over 700% APR on your Statera holdings. This is a number that is sure to go down, but it is definitely worth checking in to. Now, let me not scurry too far down the rabbit hole and get to where I was wanting to take you.
Beethoven X
Beethoven X (BEETS) is the native token of the Beethoven platform. Currently, the platform holds a Total Value Locked of about $300,000,000. One of the unique charcteristics of Beethoven X platform is the pools arent pegged at a 50%/50% ratio like some other yield farming pools. The platform offers incentivized pools in which the user can deposit BEETS in combination with other tokens to recieve BPTs while you farm. The Fidelio Duetto is a pool of BEETS and FTM or Wrapped Fantom and its current APR is 96.14%. This pool recommends a 20% FTM or wFTM and 80% BEETS deposit but you can deposit however much you want of either token.
Another incentivized pool entitled Dante Symphony allows users to invest 20 % wFTM, 20% wBTC, 20% wETH, 30% wSTA (wrapped Statera), and 10% BEETS. It should be noted that you do not have to deposit all of these currencies into this pool. Choose from just 1 or 2 up to the 5 currencies with any proportion you want. The current APR for this pool is 103.83%.
So when you deposit Beets into one of these Incentivized pools you recieve BPT as a receipt token. Use your BPTs to mint fBEETS. Stake your fBeets for an extra 96.09% APR payed out daily in Beets.
Community Pools on the platform offer pools for several coins that cannot be found in the Incentivized pools. These pools are created by users of the Beethoven X community. A community pool that I have invested in is called Oath of Honor. In this pool users can deposit 30% USDC and 70% OATH. Oath is a new token on the Fantom network and is currently only a week old. The pool value is about $7.84 million and APR is %12.93. This is a more aggressive investment, and I hope to get some real gains out of Oath Token.
Beethoven X (Beets) facts
(per coingecko.com)
Beethoven X (BEETS) #559
Current price : $0.6479
Fully Diluted Valuation : $181,192,422
Circulating Supply : 72,860,815
Max Supply : 250,000,000
All Time High : $2.59 - October 19, 2021
All Time Low : $0.144383 - December 20, 2021
24 Hr Trading Volume : $4,694,564