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What is the BEETS token used for?

How the BEETS token is used. Beethoven-X is a fork of Balancer v2 decentralized exchange with weighted pools, swaps and farms.

BEETS token is

BEETS is the governance token of Beethoven X.

BEETS token is used for

  • Governance of the protocol
  • Staking to earn trading fees

What is Beethoven-X?

Beethoven-X is a fork of Balancer v2 decentralized exchange. It features pools of different weight (not just 50/50 like Uniswap) and multiple currencies.

How does Beethoven-X work?

Users are able to swap, farm and invest in pools like indexes.

  • Liquidity providers collect fees from traders.
  • Traders rebalance portfolios through arbitrage opportunities.

Protocol fees

  • Swaps
  • Flash loans

80% of the fees buys BEETS off the open market and redistribute to stakers.

20% to the team to fund continued development and infrastructure costs (2% of team funds to climate efforts).

Liquidity bootstrapping pool

Balancer pool enables a new type of token auction where the ratio between token A/Stablecoin B changes over a set period of time.

For example 95/5 to 50/50.

This prevents frontfrunning and enables fair price discovery during an auction.

Tokenomics BEETS token

Total supply: 250 000 000

LBP – The token will launch with an LBP auction on the platform with 95/5 ratio between BEETS/USDC. Ending in 80/20 after 24 hrs.

Price during LBP with no buyers.

0.15 – 0.05

Token issuance:

  • 68% – Farming
  • 2% – LBP
  • 7% – Strategic Partnerships
  • 13% – Vested team funds
  • 10% – Treasury

Mostly emitted over 4 years.

Circulating at launch

  • LBP – 5 000 000 tokens
  • Team – 1 625 000 tokens

5 625 000 Tokens

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