# \[MIP-35\] Rebalancing of Moonriver Token Liquidity Incentives **URL:** \ **Category:** Moonwell Improvement Proposal\ **Tags:** mip, moonriver\ **Created:** [March 18, 2023, 2:15pm UTC](https://forum.moonwell.fi/t/mip-35-rebalancing-of-moonriver-token-liquidity-incentives/404 "2023-03-18T14:15:37Z")\ **Posts on this page:** 3\ **Page:** 1
**Author:** ![Fechuky\_25](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/fechuky_25/32/514_2.png) [@Fechuky\_25](https://forum.moonwell.fi/u/Fechuky_25)\ **Post date:** [March 18, 2023, 2:15pm UTC](https://forum.moonwell.fi/t/mip-35-rebalancing-of-moonriver-token-liquidity-incentives/404/1 "2023-03-18T14:15:37Z")
# MIP-35 Rebalancing of Moonriver Token Liquidity Incentives This is an automated proposal generated by the Moonwell Market Reward Adjustment Tool. - **Submitter** : Fechuky - **Generator Version** : 1.0.8 - **Generated At** : Thu, 16 Mar 2023 23:34:22 GMT - **Network** : Moonriver - **Block Height** : 3,834,484 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 `154,817,131` **MFAM** staked in the **Safety Module** , with a valuation of `$381,417.14` (based on a **MFAM** price of `$0.002464` pulled from **SolarBeam** ). This proposal, if executed, would adjust the rewards on the **Safety Module** to decrease emissions -23.51% and emits `5,140,099` **MFAM** over the next **28 days** : - Current (estimated APR = `~56.62%`): - `2.7778` MFAM / **second** - `240,000.00` MFAM / **day** - `6,720,000.00` MFAM / **reward cycle (28 days)** - Proposed (estimated APR = `~43.31%`): - `2.1247` MFAM / **second** - `183,574.97` MFAM / **day** - `5,140,099.14` MFAM / **reward cycle (28 days)** # DEX Liquidity Pool Rewarder At the time this proposal was generated there were `79,183,684` **MFAM** and `22,787` **MOVR** provided by liquidity providers in the **SolarBeam** **MFAM** / **MOVR** pool totaling `$390,163.73`. This proposal, if executed, would adjust the rewards on the **Dex Rewarder** to decrease emissions -57.12% and emits `5,763,141` **MFAM** over the next **28 days** : Current rewards will expire at **Fri, 24 Mar 2023 03:30:00 GMT** - Current (estimated APR = `~110.70%`) days: - `5.5556` MFAM / **second** - `480,000.07` MFAM / **day** - `13,440,002.00` MFAM / **reward cycle (28 days)** - Proposed (estimated APR = `~47.47%`): - `2.3823` MFAM / **second** - `205,826.48` MFAM / **day** - `5,763,141.46` MFAM / **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 | **8,319,965.24** USDC.multi | | Borrowed | **5,145,448.72** USDC.multi | | Supplied TVL | **$8,319,965.24** | | Borrowed TVL | **$5,145,448.72** | | Utilization | **61.84%** | | MFAM Incentive Share | **49%** | | MOVR Incentive Share | **49%** | | **Estimated APRs** | Current | Proposed | | --- | --- | --- | | Supply Side | **6.21%** | **11.80%** | | Borrow Side | **-3.86%** | **-8.53%** | > #### **MFAM** Incentives | | Current | Proposed | | --- | --- | --- | | **Supply Side** | **0.3617** MFAM / sec | **0.9465** MFAM / sec | | +61.79% | **31,248.00** MFAM / day | **81,774.30** MFAM / day | | | **874,944.00** MFAM / cycle\* | **2,289,680.53** MFAM / cycle\* | | | | | | **Borrow Side** | **0.8050** MFAM / sec | **0** MFAM / sec | | +0% | **69,552.00** MFAM / day | **0** MFAM / day | | | **1,947,456.00** MFAM / cycle\* | **0** MFAM / cycle\* | > #### **MOVR** Incentives | | Current | Proposed | | --- | --- | --- | | **Supply Side** | **0.0005** MOVR / sec | **0.0020** MOVR / sec | | +77.35% | **39.35** MOVR / day | **173.71** MOVR / day | | | **1,101.79** MOVR / cycle\* | **4,863.74** MOVR / cycle\* | | | | | | **Borrow Side** | **0.0011** MOVR / sec | **0** MOVR / sec | | +0% | **91.82** MOVR / day | **0** MOVR / day | | | **2,570.83** MOVR / cycle\* | **0** MOVR / cycle\* | - Reward cycle is **28 days** long * * * # ETH.multi Market | | | | --- | --- | | Latest price | **$1,675.01** | | Supplied | **2,134.87** ETH.multi | | Borrowed | **1,108.98** ETH.multi | | Supplied TVL | **$3,575,931.56** | | Borrowed TVL | **$1,857,551.82** | | Utilization | **51.95%** | | MFAM Incentive Share | **21%** | | MOVR Incentive Share | **21%** | | **Estimated APRs** | Current | Proposed | | --- | --- | --- | | Supply Side | **4.32%** | **10.23%** | | Borrow Side | **-3.06%** | **-7.46%** | > #### **MFAM** Incentives | | Current | Proposed | | --- | --- | --- | | **Supply Side** | **0.0790** MFAM / sec | **0.4056** MFAM / sec | | +80.53% | **6,825.00** MFAM / day | **35,046.13** MFAM / day | | | **191,100.00** MFAM / cycle\* | **981,291.65** MFAM / cycle\* | | | | | | **Borrow Side** | **0.3261** MFAM / sec | **0** MFAM / sec | | +0% | **28,175.00** MFAM / day | **0** MFAM / day | | | **788,900.00** MFAM / cycle\* | **0** MFAM / cycle\* | > #### **MOVR** Incentives | | Current | Proposed | | --- | --- | --- | | **Supply Side** | **0.0002** MOVR / sec | **0.0009** MOVR / sec | | +80.00% | **14.89** MOVR / day | **74.44** MOVR / day | | | **416.89** MOVR / cycle\* | **2,084.46** MOVR / cycle\* | | | | | | **Borrow Side** | **0.0004** MOVR / sec | **0** MOVR / sec | | +0% | **34.74** MOVR / day | **0** MOVR / day | | | **972.75** MOVR / cycle\* | **0** MOVR / cycle\* | - Reward cycle is **28 days** long * * * # MOVR Market | | | | --- | --- | | Latest price | **$8.56** | | Supplied | **241,238.03** MOVR | | Borrowed | **100,994.98** MOVR | | Supplied TVL | **$2,065,281.97** | | Borrowed TVL | **$864,636.13** | | Utilization | **41.87%** | | MFAM Incentive Share | **12%** | | MOVR Incentive Share | **12%** | | **Estimated APRs** | Current | Proposed | | --- | --- | --- | | Supply Side | **4.53%** | **9.27%** | | Borrow Side | **1.15%** | **-6.38%** | > #### **MFAM** Incentives | | Current | Proposed | | --- | --- | --- | | **Supply Side** | **0.1264** MFAM / sec | **0.2318** MFAM / sec | | +45.47% | **10,920.00** MFAM / day | **20,026.36** MFAM / day | | | **305,760.00** MFAM / cycle\* | **560,738.09** MFAM / cycle\* | | | | | | **Borrow Side** | **0.2949** MFAM / sec | **0** MFAM / sec | | +0% | **25,480.00** MFAM / day | **0** MFAM / day | | | **713,440.00** MFAM / cycle\* | **0** MFAM / cycle\* | > #### **MOVR** Incentives | | Current | Proposed | | --- | --- | --- | | **Supply Side** | **0.0002** MOVR / sec | **0.0005** MOVR / sec | | +67.50% | **13.83** MOVR / day | **42.54** MOVR / day | | | **387.11** MOVR / cycle\* | **1,191.12** MOVR / cycle\* | | | | | | **Borrow Side** | **0.0004** MOVR / sec | **0** MOVR / sec | | +0% | **32.26** MOVR / day | **0** MOVR / day | | | **903.27** MOVR / cycle\* | **0** MOVR / cycle\* | - Reward cycle is **28 days** long * * * # xcKSM Market | | | | --- | --- | | Latest price | **$33.08** | | Supplied | **35,194.09** xcKSM | | Borrowed | **8,962.46** xcKSM | | Supplied TVL | **$1,164,080.58** | | Borrowed TVL | **$296,442.51** | | Utilization | **25.47%** | | MFAM Incentive Share | **7%** | | MOVR Incentive Share | **7%** | | **Estimated APRs** | Current | Proposed | | --- | --- | --- | | Supply Side | **5.60%** | **8.44%** | | Borrow Side | **2.76%** | **-4.65%** | > #### **MFAM** Incentives | | Current | Proposed | | --- | --- | --- | | **Supply Side** | **0.1377** MFAM / sec | **0.1352** MFAM / sec | | -1.87% | **11,900.00** MFAM / day | **11,682.04** MFAM / day | | | **333,200.00** MFAM / cycle\* | **327,097.22** MFAM / cycle\* | | | | | | **Borrow Side** | **0.1377** MFAM / sec | **0** MFAM / sec | | +0% | **11,900.00** MFAM / day | **0** MFAM / day | | | **333,200.00** MFAM / cycle\* | **0** MFAM / cycle\* | > #### **MOVR** Incentives | | Current | Proposed | | --- | --- | --- | | **Supply Side** | **0.0002** MOVR / sec | **0.0003** MOVR / sec | | +42.86% | **14.18** MOVR / day | **24.82** MOVR / day | | | **397.04** MOVR / cycle\* | **694.82** MOVR / cycle\* | | | | | | **Borrow Side** | **0.0002** MOVR / sec | **0** MOVR / sec | | +0% | **14.18** MOVR / day | **0** MOVR / day | | | **397.04** MOVR / cycle\* | **0** MOVR / cycle\* | - Reward cycle is **28 days** long * * * # FRAX Market | | | | --- | --- | | Latest price | **$1.00** | | Supplied | **1,035,358.11** FRAX | | Borrowed | **783,860.58** FRAX | | Supplied TVL | **$1,035,526.24** | | Borrowed TVL | **$783,987.87** | | Utilization | **75.71%** | | MFAM Incentive Share | **7%** | | MOVR Incentive Share | **7%** | | **Estimated APRs** | Current | Proposed | | --- | --- | --- | | Supply Side | **14.23%** | **14.85%** | | Borrow Side | **9.43%** | **-10.04%** | > #### **MFAM** Incentives | | Current | Proposed | | --- | --- | --- | | **Supply Side** | **0.1944** MFAM / sec | **0.1352** MFAM / sec | | -43.81% | **16,800.00** MFAM / day | **11,682.04** MFAM / day | | | **470,400.00** MFAM / cycle\* | **327,097.22** MFAM / cycle\* | | | | | | **Borrow Side** | **0.4537** MFAM / sec | **0** MFAM / sec | | +0% | **39,200.00** MFAM / day | **0** MFAM / day | | | **1,097,600.00** MFAM / cycle\* | **0** MFAM / cycle\* | > #### **MOVR** Incentives | | Current | Proposed | | --- | --- | --- | | **Supply Side** | **0.0002** MOVR / sec | **0.0003** MOVR / sec | | +14.29% | **21.27** MOVR / day | **24.82** MOVR / day | | | **595.56** MOVR / cycle\* | **694.82** MOVR / cycle\* | | | | | | **Borrow Side** | **0.0006** MOVR / sec | **0** MOVR / sec | | +0% | **49.63** MOVR / day | **0** MOVR / day | | | **1,389.64** MOVR / cycle\* | **0** MOVR / cycle\* | - Reward cycle is **28 days** long * * * # USDT.multi Market | | | | --- | --- | | Latest price | **$1.00** | | Supplied | **556,322.42** USDT.multi | | Borrowed | **399,718.81** USDT.multi | | Supplied TVL | **$557,832.84** | | Borrowed TVL | **$400,804.05** | | Utilization | **71.85%** | | MFAM Incentive Share | **4%** | | MOVR Incentive Share | **4%** | | **Estimated APRs** | Current | Proposed | | --- | --- | --- | | Supply Side | **11.66%** | **14.79%** | | Borrow Side | **6.21%** | **-9.62%** | > #### **MFAM** Incentives | | Current | Proposed | | --- | --- | --- | | **Supply Side** | **0.0810** MFAM / sec | **0.0773** MFAM / sec | | -4.86% | **7,000.00** MFAM / day | **6,675.45** MFAM / day | | | **196,000.00** MFAM / cycle\* | **186,912.70** MFAM / cycle\* | | | | | | **Borrow Side** | **0.2431** MFAM / sec | **0** MFAM / sec | | +0% | **21,000.00** MFAM / day | **0** MFAM / day | | | **588,000.00** MFAM / cycle\* | **0** MFAM / cycle\* | > #### **MOVR** Incentives | | Current | Proposed | | --- | --- | --- | | **Supply Side** | **0.0001** MOVR / sec | **0.0002** MOVR / sec | | +40.00% | **8.51** MOVR / day | **14.18** MOVR / day | | | **238.22** MOVR / cycle\* | **397.04** MOVR / cycle\* | | | | | | **Borrow Side** | **0.0002** MOVR / sec | **0** MOVR / sec | | +0% | **19.85** MOVR / day | **0** MOVR / day | | | **555.86** MOVR / cycle\* | **0** MOVR / cycle\* | - Reward cycle is **28 days** long * * * # 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](https://moonwell.fi/apollo)). **DEX LP** - Solarbeam’s MFAM/MOVR farm ([Solarbeam - The DEX on Moonriver, powered by SOLAR](https://app.solarbeam.io/farm)). **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. ---
**Author:** ![Fechuky\_25](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/fechuky_25/32/514_2.png) [@Fechuky\_25](https://forum.moonwell.fi/u/Fechuky_25)\ **Post date:** [March 18, 2023, 5:50pm UTC](https://forum.moonwell.fi/t/mip-35-rebalancing-of-moonriver-token-liquidity-incentives/404/2 "2023-03-18T17:50:04Z")
Hey everyone! I just wanted to add context around [MIP-35](https://gov.moonwell.fi/apollo/proposal/15) and the proposed changes. Reward speed proposals like [MIP-35](https://gov.moonwell.fi/apollo/proposal/15) are submitted every 4 weeks and balance rewards across markets on Moonwell, the Safety Module, and the MFAM/MOVR DEX farm on Solarbeam. These proposals also add MFAM incentives to the DEX farm rewarder contract to avoid it running dry. Safety Module and DEX farm TVL have grown substantially since the last reward speed proposal and the protocol can’t sustain these high APRs, so they are being adjusted down. This decrease is offset by an increase to rewards for supplying on Moonwell markets. This proposal also brings rewards in alignment with Moonwell Artemis by moving additional rewards to the supply side, and away from borrow. This should encourage additional Supply TVL and discourage looping. If you have any questions, please don’t hesitate to ask. ---
**Author:** ![majin](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/majin/32/213_2.png) [@majin](https://forum.moonwell.fi/u/majin)\ **Post date:** [April 10, 2023, 7:04pm UTC](https://forum.moonwell.fi/t/mip-35-rebalancing-of-moonriver-token-liquidity-incentives/404/3 "2023-04-10T19:04:46Z")