Beethoven-x #2: Staking BEET’s for 60% APR — Game changer

Beehhoven-X is changing the game as they gamify DeFi. After earning 30% APR in a fairly stable pool, lets now go ahead and earn 60% on our step 1 rewards. Article #3 will blow your mind on beets wars which is taking this protocal to the next level.

Introduction

If you have not seen the first part to this series, then head over to article 1 to get started on BeethovenX.

In article 1, we invested in a 70/30 FTM/USDC pool. At time of writing, this was giving over 30% APR. Now, this is were it gets interesting.

Our rewards come in the form of $BEETS tokens. You are now faced with 2 possibilities:

1. You can convert the $BEETS back to $FTM and $USDC and compound back into the ‘Fantom of the Opera’ pool.
2. You can stake your $BEETS and earn $FBEETS at a 60% APR.

In our strategy to take advantage of BEETS wars, lets go with (2)

The Fidelio Duetto Pool

So, whats this pool about?

Well, this is an interesting pool that gives you rewards in fBEETS.

fBEETS purpose is to showcase BeethovenX’s commitment to the core of their community, the liquidity providers for BEETS.

fBEETS holders will earn triple yield: Swap fees earned as a Liquidity Provider (LP) Farm incentives. 30% of Beethoven X protocol revenue is used to reward fBEETS holders. fBEETS holders earn triple yield:

1. Swap fees earned as a Liquidity Provider (LP)
2. Farm incentives
3. 30% of Protocol Revenue

This is sounding good to me 👍👍👍

Enough of the chatter, lets get going…

Your first step is to harvest all rewards and get BEETS into your wallet.

Figure 1

Next, be sure to have some FTM in your wallet as this next step is a 70/30 BEETS/FTM pool.

This is great as the 70/30 split gives us a lower impermanent loss risk.

Your next step is click on ‘Invest’, but take note in Figure 2 that although we have a 3 step process here, we will use the ZAP feature to bypass steps (2) and (3).

Figure 2

Deposit your BEETS and this is why you needed some FTM in your wallet. You can use the MAX options to save some time. Go ahead and click on ‘Preview’

Figure 3

Go ahead and follow instruction on the screen to ZAP into the pool. Use the ZAP function to bypass the 3 step process seen in figure 1.

Figure 4

Conclusion

Congratulations you have now completed the 2nd step on our way to competing in the BEET wars. You are also earning 60% on top of the 30% rewards you received in step 1. 🕺🕺🕺

What have we achieved?

1. In article 1, we deposited into the ‘Fantom of the opera’ pool to earn BEETS
2. In article 2, we now claimed out BEETS from the above pool
3. We added 20% FTM and deposited into the ‘Fidelio Duetto BPTs’ pool
4. For the deposit in (3), we earned fBeets and via the zap, staked those as well into the fBeets farm

You will see your investments and watch out for your rewards.

Figure 5

Come back soon for Article 3…