Fantom chain has a market cap to TVL ratio under 0.5. This is a sign that the chain is undervalue in terms of how much value it has locked up.
The chain ranked 6th overall in TVL is by far one of the lowest in Mcap/ratio in the top 30. Yet there are multiple pitfall protocols to invest in and I have failed to avoid many of these pitfalls. From Tomb Finance, 2omb, and 3omb there seems to be a continuous list of protocols that have dropped in value significantly. This is not ideal to invest in the chain that continuously see projects drop in value but there are a few that have stand the test of time in crypto space, relatively speaking, and so I took what I had left in Fantom chain and put it all into one of these investments. This investment is over on Beethovenx protocol.
Liquidity Pool and Staking To Earn
For those who keep track of the latest liquidity pools opportunities they would know that there are protocols out there where farming liquidity pool is not limited to just participating in the pool. In addition to farming the pool the same liquidity can be used to earn other rewards. For instance Osmos has super staking and over on Terra there is Strader with staking Luna for liquid asset LunaX.
Over on Beethovenx is something call Beets. The Beets is native token to the chain and holds its value as a form of reward when investors stake their assets on the chain. The is a full range of different pools to stake over on Beethoven but one that lets users earns a fresh minted Beet is the Fidelio Duetto pool
In essence farm on the Fidelio Duetto pool and use the staked receipt to stake in protocol to earn a portion of the daily exchange's fees. That is right, earn from farming the pool and staking the same asset to earn daily protocol exchange fees.
Fidelio Duetto
The Fidelio Duetto is a unique pool where mainly it is bullish on the native token Beets. The pool is 80% weight in Beets and 20% weight in FTM. One of the good things about Beethovenx is that if investors do not have one of the two assets to invest in the pool they can invest single sided. The protoocol will automatically cover the correct proportion of assets to participate in the pool.
For instance I only have 100 FTM to invest in the pool and no Beets. I put in the 100 FTM and the protocol will convert 80% of the FTM into Beets and the remaining 20% of FTM and enter the investment into the pool. This is not exactly single sided staking but makes staking one step less whereby avoiding to go to directly to swap the tokens then partake in pools.
fBeets
This site explicitly directs investors on how to use the receipt of the Fidelio Duetto pool to stake into the protocol to earn daily fees as part of the rewards.
The end result is a near 70% APR for investing in the Fidelio Duetto pool. About 66% in farming in the pool, 1.4% in protocol daily fees, and 1.8% in fBeets rewards. Although the rewards APR may seem low they fluctuate because it depends of how much gets traded on the exchange on a daily basis.
Conclusions
The pool on the front page does not show the additional yield that can be obtained if the receipt asset is staked. Now you know can look into it yourself.
For me I have found that multiple ways of earning income has always been a benefit in the long run. That goes the same with cryptocurrency. If there is a way to earn income on the same assets why not invest in them as the potential yields of one form of investment could alter the APR. For instance this Fidelio Duetto pool is leaning mostly on Beets. Therefore if Beet's price moons the investors are yielding a decent gain. Or if the Beethovenx protocol starts picking up in trading it will have higher fees to distribute to all the fBeets stake holders.
In addition finding something that has multiple yields and also hold some value for the long haul is ideal. I learned the hard lessons over on Fantom that not all protocols are one and the same. Even the original Tomb Finance struggles it is no wonder spin offs such as 2omb and 3omb would also struggle.
None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!
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