Beethoven X is a decentralized investment platform built on Balancer V2. It is the first next-generation AMM protocol on Fantom Opera. Created in 2021, the DEX aims at optimizing risk-adjusted returns of over 100,000 liquidity providers and seizing all Co2 emitted from using the protocol. The people behind the platform have opted to keep their identity secret but voiced out what they stand for—to make Beethoven X simple, revolutionary, and visionary DeFi on Fantom.
Beethoven X overview
These are the key characteristics of the platform:
This feature enables users to stake their liquidity provider (LP) tokens to earn BEETS, the native token for Beethoven X.
- Stable pools
The StableSwap AMM is used for some assets that are anticipated to trade at near parity constantly. These pools permit these assets to engage in bigger trades prior to running into substantial price impact.
- Weighted investment pools
This eliminates the need for users to pay fees to portfolio managers to rebalance their portfolios. So, you can collect fees from traders who rebalance your portfolio through the adherence of arbitrage opportunities.
- Earn protocol fees
You can become one of the beneficiaries of 30% of the protocol fees by providing liquidity in one of the 80/20 BEETS weighted pools.
The platform allows traders to swap one token for another so as to earn income through price changes.
How does Beethoven X work?
Beethoven X permits you to do all of the following:
- Create liquidity pools
- Earn BEETS by staking LP tokens
- Trade tokens
What can you buy on Beethoven X?
These are some of the tokens you can buy on this DEX:
- Fresh BEETS
- Curve DAO Token
- FANG Token
- Iron Bank
- Paint Swap
- Wrapped Fantom
- Tomb Shares
- and many more
Is Beethoven X safe?
By and large, Beethoven X is safe. We would even say safer compared to centralized exchanges. By holding your assets in non-custodial wallets, the DEX allows you to control your wallet’s private keys. So, no one or any other entity can access your funds. You will be the one responsible for losing your funds in case you make the mistake of losing your keys or sending money to incorrect addresses.
Beethoven X fees, compatible wallets, and transactions
To trade and invest on this platform, users are advised to install Fantom Opera compatible wallets like Metamask, Clover, Frame, WalletConnect, and Coinbase. The fees charged on Beethoven X can differ depending on the user’s trading volume and vip rank. Below is a list of the fees:
- Trade fees
- Protocol fees
- Flash loan fees
What are the ways to trade on Beethoven X?
- Trade tokens
The DEX offers a Uniswap style trading experience that enables users to exchange tokens. The Smart Order Router (SOR) works behind the scenes to tactically source liquidity from many pools in order to identify the best price options from all pools.
You can rebalance your investment pools and make your assets work for you, generating additional income on your behalf as a result.
- Earn yield by providing liquidity
When other users trade in your pool, trade fees are collected. As this occurs, your BEET tokens collect fees automatically since they are a representation of your relative share of the pool. Therefore, the value of your token grows.
By staking your LP tokens in the suitable farms, you are able to earn extra BEETS liquidity mining incentives.
For any customer support service, your best chance is to type your question on the search icon available on Beethoven X’s documentation. Traditional customer service options like email, phone support, a live chat, etc., are not provided.
Should you trade with Beethoven X?
Beethoven X summaryBeethoven X summary
- Multiple tokens to trade
- Many income earning opportunities
- Limited customer support options
- Creators are anonymous