Difference between revisions of "BeethovenX (BEETS)"
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BeethovenX is a [[Decentralized Exchange (DEX)|DEX]] friendly [[fork]] of [[Balancer (BAL)|Balancer]], deployed on [[Fantom (FTM)|Fantom]] | |||
==Basics== | ==Basics== | ||
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==Audits & Exploits== | ==Audits & Exploits== | ||
*BeethovenX's [https://docs.defisafety.com/master/beethovenx-process-quality-review does not] have a [[bug bounty]]. It relies on Balancer V2's bug bounty as it is a [[fork]]. Balancer's bug bounty only applies to Balancer code deployed on [[Ethereum (ETH)|Ethereum]] [[mainnet]] (15-11-2021). | *BeethovenX's [https://docs.defisafety.com/master/beethovenx-process-quality-review does not] have a [[bug bounty]]. It relies on [[Balancer]] V2's bug bounty as it is a [[fork]]. Balancer's bug bounty only applies to Balancer code deployed on [[Ethereum (ETH)|Ethereum]] [[mainnet]] (15-11-2021). | ||
*Scored a [https://docs.defisafety.com/master/beethovenx-process-quality-review 61%] on [[DeFi Safety]] (15-11-2021): | *Scored a [https://docs.defisafety.com/master/beethovenx-process-quality-review 61%] on [[DeFi Safety]] (15-11-2021): | ||
Activity 2000+ transactions a day on contract ''Masterchef.'' | Activity 2000+ [[transactions]] a day on [[contract]] ''Masterchef.'' | ||
Software functions are not documented. As per the [https://docs.defisafety.com/master/beethovenx-process-quality-review#sloc-appendix SLOC], there is 21% commenting to code (CtC). As per the SLOC, there is 87% testing to code (TtC). No code coverage was found, but BeethovenX has clearly undergone testing. No test report was found. No formal verification was found. BeethovenX has documented [https://rinkeby.etherscan.io/address/0x76227eFa96fF24738c28dEf07208E704a92cD31A deployment] to a [[testnet]]. | Software functions are not documented. As per the [https://docs.defisafety.com/master/beethovenx-process-quality-review#sloc-appendix SLOC], there is 21% commenting to code (CtC). As per the SLOC, there is 87% testing to code (TtC). No code coverage was found, but BeethovenX has clearly undergone testing. No test report was found. No formal verification was found. BeethovenX has documented [https://rinkeby.etherscan.io/address/0x76227eFa96fF24738c28dEf07208E704a92cD31A deployment] to a [[testnet]]. | ||
No audit has been performed on BeethovenX's code. However, since it is a complete fork of audited Balancer code that is [https://docs.beethovenx.io/balancer-v2-1/security proven to be the exact same code], it receives points. This protocol sets an industry standard for proving that its code is forked and no changes have been made, and thus should be commended for this effort. | No audit has been performed on BeethovenX's code. However, since it is a complete fork of audited Balancer code that is [https://docs.beethovenx.io/balancer-v2-1/security proven to be the exact same code], it receives points. This protocol sets an industry standard for proving that its code is [[forked]] and no changes have been made, and thus should be commended for this effort. | ||
===Bugs/Exploits=== | ===Bugs/Exploits=== | ||
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===Admin Keys=== | ===Admin Keys=== | ||
* [https://docs.defisafety.com/master/beethovenx-process-quality-review From] [[DeFi Safety]] (15-11-2021): ''The contracts [https://docs.beethovenx.io/balancer-v2-1/security#contracts are] [[immutable]].'' | * [https://docs.defisafety.com/master/beethovenx-process-quality-review From] [[DeFi Safety]] (15-11-2021): ''The [[contracts]] [https://docs.beethovenx.io/balancer-v2-1/security#contracts are] [[immutable]].'' | ||
===DAO=== | ===DAO=== | ||
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* From the [https://docs.beethovenx.io/ docs] (11-2021): | * From the [https://docs.beethovenx.io/ docs] (11-2021): | ||
''"Protocol fees will distributed to Liquidity Stakers. Provide liquidity in one of the 80/20 BEETS weighted pools to earn your portion of 30% of the protocol fees. Wherever possible, we will introduce protocol fees for transactions, with 30% of the fees being used to buy BEETS off the open market and redistribute them to Liquidity Stakers. 50% of protocol fees will be used to build a diversified [[Decentralised Autonomous Organisation (DAO)|DAO]] controlled treasury."'' | ''"Protocol [[fees]] will [[distributed]] to [[Liquidity]] [[Stakers]]. Provide liquidity in one of the 80/20 BEETS weighted pools to [[earn]] your portion of 30% of the protocol fees. Wherever possible, we will introduce protocol fees for transactions, with 30% of the fees being used to buy BEETS off the open market and redistribute them to Liquidity Stakers. 50% of protocol fees will be used to build a diversified [[Decentralised Autonomous Organisation (DAO)|DAO]] controlled treasury."'' | ||
===Upgrades=== | ===Upgrades=== | ||
*From this [https://blog.bybit.com/en-US/post/fantom-the-ve-3-3-snapshot-danielle-s-downfall-bribe-wars-andre-s-shocking-exit-blt0fd18dd77ec2cefe/ blog] (8-3-2022): | |||
''"Beethoven X (BEETS), a [[fork]] of the popular [[Balancer (BAL)|Balancer]] protocol on [[Ethereum (ETH)|Ethereum]], launched its new gauge votes, allowing for BEETS [[Proof-of-Stake (PoS)|stakers]] to vote on protocol emissions. This new upgrade kickstarted the BEETS War (inspired by the [[Curve Finance (CRV)|Curve]] Wars), where protocols like [[OneRing Finance]], [[Liquid Driver]] and [[Hundred Finance]], just to name a few, started to bribe BEETS [[Whale|whales]] to vote on emissions directed to their respective [[liquidity pools]]. As a result of all these increased activity and liquidity [[mining]] on the platform, BEETS was able to overtake [[SpiritSwap]] in terms of [[Total Value Locked (TVL)|TVL]] to become the fourth largest [[Decentralized Exchange (DEX)|DEX]] on [[Fantom]]."'' | |||
===Staking=== | ===Staking=== | ||
====Validator Stats==== | ====Validator Stats==== | ||
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==Usage== | ==Usage== | ||
*From this [https://blog.bybit.com/en-US/post/fantom-the-ve-3-3-snapshot-danielle-s-downfall-bribe-wars-andre-s-shocking-exit-blt0fd18dd77ec2cefe/ blog] (8-3-2022): | |||
''"Beethoven X (BEETS), a [[fork]] of the popular [[Balancer (BAL)|Balancer]] protocol on [[Ethereum (ETH)|Ethereum]], launched its [https://twitter.com/beethoven_x/status/1489290086881456129 new gauge votes], allowing for BEETS [[Proof-of-Stake (PoS)|stakers]] to vote on protocol emissions. This new upgrade kickstarted the [https://twitter.com/crypto_klay/status/1489513682275024898 BEETS War] (inspired by the [[Curve Finance (CRV)|Curve]] Wars), where protocols like [[OneRing Finance]], [[Liquid Driver]] and [[Hundred Finance]], just to name a few, started to bribe BEETS [[Whale|whales]] to vote on emissions directed to their respective [[liquidity pools]]. As a result of all these increased activity and [[liquidity mining]] on the platform, BEETS was able to overtake [[SpiritSwap]] in terms of [[Total Value Locked (TVL)|TVL]] to become the fourth largest [[Decentralized Exchange (DEX)|DEX]] on Fantom. On Feb. 10, 2022, the [[Solidly (SOLID)|Solidly]] Exchange was deployed to Fantom’s [[mainnet]] without its [[token]]. In a [[move]] that stole the limelight from BEETS, the SOLID token launched two weeks later along with the protocol’s token emissions and veNFT gauge votes."'' | |||
===Projects that use or built on it=== | ===Projects that use or built on it=== | ||
==Competition== | ==Competition== | ||
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Making these free wiki pages is fun but takes a lot of effort and time. | Making these free wiki pages is fun but takes a lot of effort and time. | ||
If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information. | If you have enjoyed reading, tips are appreciated :) This will help us to [[keep]] expanding this archive of information. | ||
[[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31 | [[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31 | ||
[[Category:Coins/Tokens]] | [[Category:Coins/Tokens]] | ||
Latest revision as of 10:17, 11 March 2022
BeethovenX is a DEX friendly fork of Balancer, deployed on Fantom
Basics
History
Audits & Exploits
- BeethovenX's does not have a bug bounty. It relies on Balancer V2's bug bounty as it is a fork. Balancer's bug bounty only applies to Balancer code deployed on Ethereum mainnet (15-11-2021).
- Scored a 61% on DeFi Safety (15-11-2021):
Activity 2000+ transactions a day on contract Masterchef.
Software functions are not documented. As per the SLOC, there is 21% commenting to code (CtC). As per the SLOC, there is 87% testing to code (TtC). No code coverage was found, but BeethovenX has clearly undergone testing. No test report was found. No formal verification was found. BeethovenX has documented deployment to a testnet.
No audit has been performed on BeethovenX's code. However, since it is a complete fork of audited Balancer code that is proven to be the exact same code, it receives points. This protocol sets an industry standard for proving that its code is forked and no changes have been made, and thus should be commended for this effort.
Bugs/Exploits
Governance
Admin Keys
- From DeFi Safety (15-11-2021): The contracts are immutable.
DAO
Treasury
Token
Launch
Token Allocation
Utility
Other Details
Stablecoin
Coin Distribution
Technology
- Whitepaper or docs can be found here (11-2021).
- Code can be viewed here. From DeFi Safety (15-11-2021):
"At 100 commits and 3 branches, BeethovenX's development history is on its way to developing a rich opera that will spook even the most seasoned of gravediggers."
Implementations
How it works
Fees
- From the docs (11-2021):
"Protocol fees will distributed to Liquidity Stakers. Provide liquidity in one of the 80/20 BEETS weighted pools to earn your portion of 30% of the protocol fees. Wherever possible, we will introduce protocol fees for transactions, with 30% of the fees being used to buy BEETS off the open market and redistribute them to Liquidity Stakers. 50% of protocol fees will be used to build a diversified DAO controlled treasury."
Upgrades
- From this blog (8-3-2022):
"Beethoven X (BEETS), a fork of the popular Balancer protocol on Ethereum, launched its new gauge votes, allowing for BEETS stakers to vote on protocol emissions. This new upgrade kickstarted the BEETS War (inspired by the Curve Wars), where protocols like OneRing Finance, Liquid Driver and Hundred Finance, just to name a few, started to bribe BEETS whales to vote on emissions directed to their respective liquidity pools. As a result of all these increased activity and liquidity mining on the platform, BEETS was able to overtake SpiritSwap in terms of TVL to become the fourth largest DEX on Fantom."
Staking
Validator Stats
Liquidity Mining
Scaling
Interoperability
Other Details
Oracle Method
Privacy Method
Compliance
Their Other Projects
Roadmap
- Can be found [Insert link here].
Usage
- From this blog (8-3-2022):
"Beethoven X (BEETS), a fork of the popular Balancer protocol on Ethereum, launched its new gauge votes, allowing for BEETS stakers to vote on protocol emissions. This new upgrade kickstarted the BEETS War (inspired by the Curve Wars), where protocols like OneRing Finance, Liquid Driver and Hundred Finance, just to name a few, started to bribe BEETS whales to vote on emissions directed to their respective liquidity pools. As a result of all these increased activity and liquidity mining on the platform, BEETS was able to overtake SpiritSwap in terms of TVL to become the fourth largest DEX on Fantom. On Feb. 10, 2022, the Solidly Exchange was deployed to Fantom’s mainnet without its token. In a move that stole the limelight from BEETS, the SOLID token launched two weeks later along with the protocol’s token emissions and veNFT gauge votes."
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
Team, Funding and Partners
Team
- The team is anonymous (5-11-2021).
Funding
Partners
(:
Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!
Making these free wiki pages is fun but takes a lot of effort and time.
If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.
