Fantom ETF on Beethovenx - A Weird Song
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I've been using Beethovenx, which is a dAPP built on top of Balancer V2's AMM (Automatic Market Maker) in the Fantom chain for the past year and a half.
I have enjoyed success across a variety of pools and strategies, so I wanted to try my luck with a new strategy.
With the markets again down the past couple of days, I pushed my ETH savings I was loaning on Tarot.To for 3%APR to the Weird Song pool on Beethovenx which is a very interesting composition of BTC, ETH, AVAX, LINK, BOO and TOMB.
This is what the pool composition looks like:
As you can see, the trading swap fee APR is insanely high right now. On Beets, this APR earned from Swap Fees does not go to rewards of the Beets token. Instead, the swap fee APR compounds your deposited LP so when you withdraw, you'll have more tokens than when you deposited.
I've been in the pool for 18 hours now and I've seen my deposit stay roughly the same despite the market being in a downtrend.
Just remember if you're going to APE into a pool like this to DYOR. Nothing I say should be taken as financial advice. I just really like the Fantom ecosystem and I think we're making headway at pushing back against the anti-defi narrative that seems to be meta right now.
Have a great morning/afternoon/evening wherever you may be!
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