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.
- 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
- 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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