The Evolution of Music — The boosted Revolution | by Beethoven x | Beethoven X | Dec, 2022

Last updated Dec 9, 2022

Imagination

noun

The faculty or action of forming new ideas, or images or concepts of external objects not present to the senses.

An escape, an exploration but perhaps most importantly an opportunity to create. An opportunity to go beyond the limitations of the senses and the material universe and to build wildly, wholly unconfined.

Imagination is an invitation to become more than we ever thought possible; to look out into the world with a curious mind and to embrace the mystery that the unknown beholds.

It’s with this spirit that we build for the future, for a better DeFi and a thriving, vibrant community.

We are DeFi re-imagineered and this is the evolution of our music.

Evolution

Change is a fundamental driving force in nature, incessantly shaping the world as we know it and DeFi is no exception. In fact, we might even argue that on a spectrum of evolution, the manifestations of this industry are changing at an unprecedented rate. Catalysed by the growth of a digital world on the precipice of expansion, Defi is moving fast, lightning fast.

With all this movement and energy, the question arises — how sustainable is this actually? Or are we destined to crash and burn, frazzled by the unfathomable speed at which we are developing?

The Dex’s Dilemma — A race to zero?

It’s undeniable that the interactions and decisions of other parties in the ecosystem shape and influence the space around us. Everything is connected to an extent and as the classic saying goes “we are all products of our environment”. The problem with this outlook is that it can often lead to behavioural cycles that are net destructive if left unchecked.

Let’s take the example of the Dex’s Dilemma for context.

In an attempt to secure greater market share, DEXs constantly compete against one another, reducing swap fees to undercut competitors by fractions to ensure volume continues to increase. Although this may seem to work in the short run, what does it mean for DEXs long term?

A pivotal mechanism for earning yield as a liquidity provider is swap fees. Reducing rates may make it extremely efficient for traders, but eventually, investors would lose out on swap yield which is essential for attracting liquidity to the platform. To mitigate this dilemma, protocols compensate the loss in swap fee rewards with token emissions. Liquidity mining is already a cause for concern and the pressure placed on protocols to constantly out-compete one another only exacerbates the problem.

Competition in healthy doses can be conductive to growth but when it becomes a race to zero where sustainability is ignored in favour of short-term gain, it’s time we took a step back and questioned our ethics.

On the Path to Sustainability

“Collaboration over competition. Contribution over extraction.”

These core mantras serve as guiding lights, as we navigate the stormy seas of the Cryptoverse.

Trustless, Decentralised. The Blockchain era promises so much — a world of untapped treasure waiting to be explored. But as many of us have experienced first hand, it is most definitely not without its dangers. Modern day pirates lurk at every possible corner, chains collapse overnight, scammers lie rampant in Discord servers and it feels like so many are only here to make a quick buck. The lust for “generational wealth” has clouded the minds of the masses and has taken away from the real reason we are here:

To build something unbelievably cool, with a community of incredible people.

It is simple for us, always has been and always will be. How we show up in the world matters and we want Beethoven X to embody these qualities no matter what. Unapologetically.

From day one sustainability has been at the forefront of our development. We have never been interested in a quick turn-around and we recognize that building something great takes time, dedication and patience. It’s a slow rise to grace.

The issues around sustainability in DeFi, challenging as they may be, have served as a guiding force steadily shaping our evolution as a protocol and as a community. From a technical perspective, the desire to exist harmoniously within this ecosystem has given rise to several key innovations that allow our protocol to thrive in an environment notorious for extraction. As the future unfolds we sit in a position primed for growth, confident in a tech stack that is tailored to adapt, tailored to flourish. From the standpoint of the community, we are firm believers that we are only as great as the sum of our parts.

The relationship we develop with our community members is an integral part of our success and the longevity of Beethoven X relies heavily on this foundation. As a team that lives and breathes blockchain, we are acutely aware of the people that lie behind the avatars and how DeFi is every bit a cultural revolution as it is financial.

Walking the Walk. Talking the Talk.

With a clear vision for the future, the task at hand was to build a project that embodied these core qualities of innovation, sustainability and accessibility. The last year has been an incredible period of growth, and the protocol has come such a long way since its conception. The foundations for the DEX lie on top of some of the most powerful technology in the industry — Balancer V2.

Throughout our journey, it has become clear that the majority of the industry remains ignorant of just how potent this tech stack truly is, and the unique capabilities that it offers. Our goal has been to showcase through example the incredible versatility Balancer V2 brings to DeFi and how it is uniquely positioned to pioneer a pathway into the future. Style and speed. Highlighting the technology isn’t our only priority; we aim to present it in the sleekest, fastest, and most user-friendly way possible.

The Boosted revolution

When we think of the major accomplishments we have achieved as a protocol — Boosted Pools come to the top of the list.

In their conception, we have a piece of technology that embodies so much of our philosophy: capital efficient, innovative, they offer alternative pathways for revenue generation, they are sustainable, and the list goes on. Boosted Pools have become such a core piece of infrastructure that they are now a central component to the blueprint for our success — the Boosted Revolution.

For anyone unfamiliar with what Boosted Pools are and how they work, please dive into the following article for further reference:

In summary:

They fluently route idle liquidity in a pool to other yield-generating protocols.
They are extremely capital efficient.
They stack and offer unparalleled composability through nested linear pools.
They provide an alternative revenue source for the protocol through an interest-bearing fee.
They play a pivotal role in the alignment of users to the protocol through incentive flywheels.

Efficiency, connectivity and innovation are phrases persistently bellowed from the rooftops, but in this domain, it is evident that Boosted Pools stand tall.

Symbiosis and interconnectivity are not just core Beethoven X philosophies; this mantra also transcends to the tech. Boosted Pools nurture synergy. Native Fantom protocols joined us in the venture to explore the Optimistic shores, and Boosted Pools have proven to be a magical catalyst for communal growth. The composable and interwoven nature of Boosted liquidity ensures our growth now directly impacts the growth of our partners and treasured friends.

Connectivity, alignment, and collaboration; this is only the start.

Sustainability is strategic and patience is certainly a virtue. We are pioneers in a nascent realm with endless chasms for opportunity and growth. But, everywhere you look, one monumental pitfall resides; Sustainability. Time, energy and patience are cast aside for rampant and volatile emissions, unsustainable incentives and short-time mindsets. We aren’t here for a quick flip. Neither are you Ludwig.

The power of Boosted technology has already helped to usher in a new means to a sustainable incentive program on Optimism.