Thread by @Rentahomefast

🧵 time on @beethoven_x and why these guys are da jams on FTM

2/ so first ill just start with the team...... these guys are making innovation after innovation. The first I want to talk about is the VE gage model and why this is important

3/ with a VE gage model if users want liquidity for their token they either need to bribe people staking beets to vote for their pool or they need to have some staked beets to vote.....Now I know your saying, they can just buy a bunch of beets, vote then dump

4/ so here is what beets does
1.snapshots are taken before the proposal happens so if a protocol is not holding tokens for the snap you cannot vote (aka no beets incentivizing your pools which in turn makes "johnny" go to another pool aka lower liquidity)

5/
2.if a protocol wants to not lose in the beets wars, they will either need to keep buying beets, or compounding beets to keep playing the game.....reason being is if the beets rewards are sold and the other player compounds well they are now getting more rewards than I will

6/
3. beets wants to reward stakers so what do they do....well they give you yeild on yeild on yeild that is earning yeild.....
how?
lp beets and ftm at 80%beets 20% ftm(earns swap fees)( less imperm loss too)

7/stake your lp for another 100% apr in beets
then stake your staked lp for fbeets to compound and earn even more

8/ and then stake your fbeets to earn more beets 😂 ......and wait theres more how bout bribes now just for voting......here was the last bribe war

https://twitter.com/Onering_Finance/status/1489533289710948353

9/ so what beets is trying to do is create a flywheel....How.....well I earn beets....to keep playing the game I stake beets to earn more beets and again to keep playing and win the game I must stake more beets.

10/ if there is only green button buy pressure on the beets token it causes aprs to go up because the token price is higher.....when the rewards go up more lp providers come in ......when more lp providers come in then more traders come.....(creating the flywheel)

11/ now thats enough about the flywheel.....this is why I really like beets....it gives the best prices mainly because of how the pools are built.....Now I get it its only one extra fanty but thats for ftm and its compared to the deepest lp pool on ftm.....spooky swap 🤯

12/the custom pools is a game changer for smaller tokens that will never get as deep of an LP. giving Newer projects the opportunity to have deeper Liquidity for a smaller amount of capital...

13/ now beets dont stop there they said man lets bring out the inner degen with boosted pools these are stables giving triple rewards WTS this is 🔥

14/ so these are just a few things coming from the team and I always say bet on people not ponzis... Now lets talk about the elephant in the room what are the risks?

15/ first is the beets bribe wars dont take off so less incentive to hold the token.....TWT what haps but if you have several smaller projects fighting for liquidity I feel there will be an audience that the beets token caters too (aka long tail assets)

16/ the token price tanks......definitely possible the reflexivity up is the same as reflexivity down but if there are protocols hunting for cheap liquidity they can direct to their protocol (similar to curve) there may be buyers

17/ smart contract risk.......always a possibility as well the project is a fork of balancer and have been around for a bit but doesnt mean they wont get hacked

18/ so now what......well im a farmer so like @AndreCronjeTech always says dont buy what you can earn 😉 .....you can farm the beets token and play the flywheel game....if beets goes up great if beets goes down great. Its house money 😉

19/ oh and yeah these guys have a 🔥 community and well @FTMAlerts has a big bag of beets 😜 and this guy was buying fantom before it was the cats meow

if you enjoyed da beets and know someone who wants to hear some jams feel free to share em up cuz sharin be carin

https://twitter.com/Rentahomefast/status/1492017551211175937