MIP-27 Rebalancing of Moonriver Token Liquidity Incentives
This is an automated proposal generated by the Moonwell Market Reward Adjustment Tool.
- Submitter: Fechuky
- Generator Version: 1.0.0
- Generated At: Fri, 17 Feb 2023 21:09:45 GMT
- Network: Moonriver
- Block Height: 3,640,818
The submitter (Fechuky), as part of this proposal, will get 100,000 MFAM sent to their wallet at 0x87E1e08eDAfD16346d8328e2CF260ff8Bdad9e84.
Safety Module
At the time this proposal was generated there was 124,380,460 MFAM staked in the Safety Module, with a valuation of $196,581.78 (based on a MFAM price of $0.001580 pulled from SolarBeam).
This proposal, if executed, would adjust the rewards on the Safety Module to decrease emissions -3.0143% and emits 6,720,000 MFAM over the next 28 days:
- Current (estimated APR =
~72.67%):2.8641MFAM / second247,459.13MFAM / day6,928,855.50MFAM / reward cycle (28 days)
- Proposed (estimated APR =
~70.48%):2.7778MFAM / second240,000.00MFAM / day6,720,000.00MFAM / reward cycle (28 days)
DEX Liquidity Pool Rewarder
At the time this proposal was generated there were 98,715,906 MFAM and 17,552 MOVR provided by liquidity providers in the SolarBeam MFAM/MOVR pool totaling $312,038.53.
This proposal, if executed, would adjust the rewards on the Dex Rewarder to increase emissions +0.5778% and emits 13,440,000 MFAM over the next 28 days:
Current rewards will expire at Fri, 24 Feb 2023 03:30:00 GMT
- Current (estimated APR =
~88.29%) days:5.5236MFAM / second477,242.60MFAM / day13,362,792.75MFAM / reward cycle (28 days)
- Proposed (estimated APR =
~88.80%):5.5556MFAM / second480,000.00MFAM / day13,440,000.00MFAM / reward cycle (28 days)
Core Protocol Rewards
Below are the current markets supported by the Moonwell Protocol, along with the proposed adjustments to the reward outputs.
USDC.multi Market
| Latest price | $1.00 |
| Supplied | 9,360,742.88 USDC.multi |
| Borrowed | 4,775,552.65 USDC.multi |
| Supplied TVL | $9,360,742.88 |
| Borrowed TVL | $4,775,552.65 |
| Utilization | 51.02% |
| MFAM Incentive Share | 36% |
| MOVR Incentive Share | 37% |
MFAM Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.3640 MFAM / sec | 0.3617 MFAM / sec |
| -0.65% | 31,450.00 MFAM / day | 31,248.00 MFAM / day |
| 880,600.00 MFAM / cycle* | 874,944.00 MFAM / cycle* | |
| Borrow Side | 0.8102 MFAM / sec | 0.8050 MFAM / sec |
| -0.64% | 70,000.00 MFAM / day | 69,552.00 MFAM / day |
| 1,960,000.00 MFAM / cycle* | 1,947,456.00 MFAM / cycle* |
MOVR Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.0005 MOVR / sec | 0.0005 MOVR / sec |
| -0.00% | 39.35 MOVR / day | 39.35 MOVR / day |
| 1,101.79 MOVR / cycle* | 1,101.79 MOVR / cycle* | |
| Borrow Side | 0.0011 MOVR / sec | 0.0011 MOVR / sec |
| -0.00% | 91.82 MOVR / day | 91.82 MOVR / day |
| 2,570.83 MOVR / cycle* | 2,570.83 MOVR / cycle* |
- Reward cycle is 28 days long
Raw Calls:
COMPTROLLER._setRewardSpeed(0, 0xd0670AEe3698F66e2D4dAf071EB9c690d978BFA8, 361666666666666666, 805000000000000000)
COMPTROLLER._setRewardSpeed(1, 0xd0670AEe3698F66e2D4dAf071EB9c690d978BFA8, 455434027777777, 1062679398148148)
ETH.multi Market
| Latest price | $1,656.34 |
| Supplied | 2,070.93 ETH.multi |
| Borrowed | 1,096.71 ETH.multi |
| Supplied TVL | $3,430,161.81 |
| Borrowed TVL | $1,816,524.99 |
| Utilization | 52.96% |
| MFAM Incentive Share | 13% |
| MOVR Incentive Share | 14% |
MFAM Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.0787 MFAM / sec | 0.0790 MFAM / sec |
| +0.37% | 6,800.00 MFAM / day | 6,825.00 MFAM / day |
| 190,400.00 MFAM / cycle* | 191,100.00 MFAM / cycle* | |
| Borrow Side | 0.3241 MFAM / sec | 0.3261 MFAM / sec |
| +0.62% | 28,000.00 MFAM / day | 28,175.00 MFAM / day |
| 784,000.00 MFAM / cycle* | 788,900.00 MFAM / cycle* |
MOVR Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.0002 MOVR / sec | 0.0002 MOVR / sec |
| -0.00% | 14.89 MOVR / day | 14.89 MOVR / day |
| 416.89 MOVR / cycle* | 416.89 MOVR / cycle* | |
| Borrow Side | 0.0004 MOVR / sec | 0.0004 MOVR / sec |
| +0.00% | 34.74 MOVR / day | 34.74 MOVR / day |
| 972.75 MOVR / cycle* | 972.75 MOVR / cycle* |
- Reward cycle is 28 days long
Raw Calls:
COMPTROLLER._setRewardSpeed(0, 0x6503D905338e2ebB550c9eC39Ced525b612E77aE, 78993055555555555, 326099537037037037)
COMPTROLLER._setRewardSpeed(1, 0x6503D905338e2ebB550c9eC39Ced525b612E77aE, 172326388888888, 402094907407407)
MOVR Market
| Latest price | $8.89 |
| Supplied | 241,708.30 MOVR |
| Borrowed | 127,894.25 MOVR |
| Supplied TVL | $2,148,598.45 |
| Borrowed TVL | $1,136,880.26 |
| Utilization | 52.91% |
| MFAM Incentive Share | 13% |
| MOVR Incentive Share | 13% |
MFAM Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.1279 MFAM / sec | 0.1264 MFAM / sec |
| -1.19% | 11,050.00 MFAM / day | 10,920.00 MFAM / day |
| 309,400.00 MFAM / cycle* | 305,760.00 MFAM / cycle* | |
| Borrow Side | 0.3009 MFAM / sec | 0.2949 MFAM / sec |
| -2.04% | 26,000.00 MFAM / day | 25,480.00 MFAM / day |
| 728,000.00 MFAM / cycle* | 713,440.00 MFAM / cycle* |
MOVR Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.0002 MOVR / sec | 0.0002 MOVR / sec |
| +0.00% | 13.83 MOVR / day | 13.83 MOVR / day |
| 387.11 MOVR / cycle* | 387.11 MOVR / cycle* | |
| Borrow Side | 0.0004 MOVR / sec | 0.0004 MOVR / sec |
| -0.00% | 32.26 MOVR / day | 32.26 MOVR / day |
| 903.27 MOVR / cycle* | 903.27 MOVR / cycle* |
- Reward cycle is 28 days long
Raw Calls:
COMPTROLLER._setRewardSpeed(0, 0x6a1A771C7826596652daDC9145fEAaE62b1cd07f, 126388888888888888, 294907407407407407)
COMPTROLLER._setRewardSpeed(1, 0x6a1A771C7826596652daDC9145fEAaE62b1cd07f, 160017361111111, 373373842592592)
xcKSM Market
| Latest price | $38.23 |
| Supplied | 45,918.59 xcKSM |
| Borrowed | 11,006.85 xcKSM |
| Supplied TVL | $1,755,544.45 |
| Borrowed TVL | $420,810.41 |
| Utilization | 23.97% |
| MFAM Incentive Share | 9% |
| MOVR Incentive Share | 8% |
MFAM Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.1377 MFAM / sec | 0.1377 MFAM / sec |
| +0.00% | 11,900.00 MFAM / day | 11,900.00 MFAM / day |
| 333,200.00 MFAM / cycle* | 333,200.00 MFAM / cycle* | |
| Borrow Side | 0.1319 MFAM / sec | 0.1377 MFAM / sec |
| +4.20% | 11,400.00 MFAM / day | 11,900.00 MFAM / day |
| 319,200.00 MFAM / cycle* | 333,200.00 MFAM / cycle* |
MOVR Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.0002 MOVR / sec | 0.0002 MOVR / sec |
| +0.00% | 14.18 MOVR / day | 14.18 MOVR / day |
| 397.04 MOVR / cycle* | 397.04 MOVR / cycle* | |
| Borrow Side | 0.0002 MOVR / sec | 0.0002 MOVR / sec |
| +0.00% | 14.18 MOVR / day | 14.18 MOVR / day |
| 397.04 MOVR / cycle* | 397.04 MOVR / cycle* |
- Reward cycle is 28 days long
Raw Calls:
COMPTROLLER._setRewardSpeed(0, 0xa0D116513Bd0B8f3F14e6Ea41556c6Ec34688e0f, 137731481481481481, 137731481481481481)
COMPTROLLER._setRewardSpeed(1, 0xa0D116513Bd0B8f3F14e6Ea41556c6Ec34688e0f, 164120370370370, 164120370370370)
FRAX Market
| Latest price | $1.00 |
| Supplied | 4,326,128.97 FRAX |
| Borrowed | 2,896,475.79 FRAX |
| Supplied TVL | $4,330,380.34 |
| Borrowed TVL | $2,899,322.22 |
| Utilization | 66.95% |
| MFAM Incentive Share | 20% |
| MOVR Incentive Share | 20% |
MFAM Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.1968 MFAM / sec | 0.1944 MFAM / sec |
| -1.19% | 17,000.00 MFAM / day | 16,800.00 MFAM / day |
| 476,000.00 MFAM / cycle* | 470,400.00 MFAM / cycle* | |
| Borrow Side | 0.4630 MFAM / sec | 0.4537 MFAM / sec |
| -2.04% | 40,000.00 MFAM / day | 39,200.00 MFAM / day |
| 1,120,000.00 MFAM / cycle* | 1,097,600.00 MFAM / cycle* |
MOVR Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.0002 MOVR / sec | 0.0002 MOVR / sec |
| -0.00% | 21.27 MOVR / day | 21.27 MOVR / day |
| 595.56 MOVR / cycle* | 595.56 MOVR / cycle* | |
| Borrow Side | 0.0006 MOVR / sec | 0.0006 MOVR / sec |
| +0.00% | 49.63 MOVR / day | 49.63 MOVR / day |
| 1,389.64 MOVR / cycle* | 1,389.64 MOVR / cycle* |
- Reward cycle is 28 days long
Raw Calls:
COMPTROLLER._setRewardSpeed(0, 0x93Ef8B7c6171BaB1C0A51092B2c9da8dc2ba0e9D, 194444444444444444, 453703703703703703)
COMPTROLLER._setRewardSpeed(1, 0x93Ef8B7c6171BaB1C0A51092B2c9da8dc2ba0e9D, 246180555555555, 574421296296296)
USDT.multi Market
| Latest price | $1.00 |
| Supplied | 1,592,923.14 USDT.multi |
| Borrowed | 1,094,573.61 USDT.multi |
| Supplied TVL | $1,593,214.32 |
| Borrowed TVL | $1,094,773.70 |
| Utilization | 68.71% |
| MFAM Incentive Share | 10% |
| MOVR Incentive Share | 8% |
MFAM Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.0787 MFAM / sec | 0.0810 MFAM / sec |
| +2.86% | 6,800.00 MFAM / day | 7,000.00 MFAM / day |
| 190,400.00 MFAM / cycle* | 196,000.00 MFAM / cycle* | |
| Borrow Side | 0.2315 MFAM / sec | 0.2431 MFAM / sec |
| +4.76% | 20,000.00 MFAM / day | 21,000.00 MFAM / day |
| 560,000.00 MFAM / cycle* | 588,000.00 MFAM / cycle* |
MOVR Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.0001 MOVR / sec | 0.0001 MOVR / sec |
| +0.00% | 8.51 MOVR / day | 8.51 MOVR / day |
| 238.22 MOVR / cycle* | 238.22 MOVR / cycle* | |
| Borrow Side | 0.0002 MOVR / sec | 0.0002 MOVR / sec |
| -0.00% | 19.85 MOVR / day | 19.85 MOVR / day |
| 555.86 MOVR / cycle* | 555.86 MOVR / cycle* |
- Reward cycle is 28 days long
Raw Calls:
COMPTROLLER._setRewardSpeed(0, 0x36918B66F9A3eC7a59d0007D8458DB17bDffBF21, 81018518518518518, 243055555555555555)
COMPTROLLER._setRewardSpeed(1, 0x36918B66F9A3eC7a59d0007D8458DB17bDffBF21, 98472222222222, 229768518518518)
Definitions
MFAM - The Moonwell Apollo governance token
Liquidity Incentives - MFAM tokens that have been allocated for use as rewards to incentivize liquidity growth.
Core - Moonwell Apollo lending protocol (Moonwell: DeFi’s Liquidity Well).
DEX LP - Solarbeam’s MFAM/MOVR farm (Solarbeam - The DEX on Moonriver, powered by SOLAR).
Safety Module - Smart contract that allows users to stake their MFAM tokens in order to earn liquidity incentives and help backstop the Moonwell protocol.
Reward Speed - The rate at which MFAM tokens (on a per second basis) are distributed proportionally to DEX LPs, wallets staking in the Safety Module, and those supplying/borrowing on Moonwell.
Config Hash: f07b1f77b23a64fb82e1a750fc6bf24179c0fd20261daa41252149b038ecb9b1