MIP-42 Rebalancing of Moonriver Token Liquidity Incentives
Link to governance proposal: MIP-42
This is an automated proposal generated by the Moonwell Market Reward Adjustment Tool.
- Submitter: Fechuky
- Generator Version: 1.0.11
- Generated At: Fri, 14 Apr 2023 00:43:41 GMT
- Network: Moonriver
- Block Height: 4,030,935
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 164,477,417 MFAM staked in the Safety Module, with a valuation of $293,383.94 (based on a MFAM price of $0.001784 pulled from SolarBeam).
This proposal, if executed, would adjust the rewards on the Safety Module to keep emissions the same and emits 5,140,099 MFAM over the next 28 days:
- Current (estimated APR =
~40.77%):
2.1247 MFAM / second183,574.97 MFAM / day5,140,099.14 MFAM / reward cycle (28 days)
- Proposed (estimated APR =
~40.77%):
2.1247 MFAM / second183,574.97 MFAM / day5,140,099.14 MFAM / reward cycle (28 days)
DEX Liquidity Pool Rewarder
At the time this proposal was generated there were 90,156,783 MFAM and 18,634 MOVR provided by liquidity providers in the SolarBeam MFAM/MOVR pool totaling $321,631.42.
This proposal, if executed, would adjust the rewards on the Dex Rewarder to keep emissions the same and emits 5,763,141 MFAM over the next 28 days:
Current rewards will expire at Fri, 21 Apr 2023 03:30:00 GMT
Proposed rewards will expire at Fri, 19 May 2023 03:30:00 GMT
- Current (estimated APR =
~41.69%) days:
2.3823 MFAM / second205,826.57 MFAM / day5,763,144.00 MFAM / reward cycle (28 days)
- Proposed (estimated APR =
~41.69%):
2.3823 MFAM / second205,826.48 MFAM / day5,763,141.46 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 |
$1.0000 |
| Supplied |
7,687,137.84 USDC.multi |
| Borrowed |
4,755,717.50 USDC.multi |
| Supplied TVL |
$7,686,891.86 |
| Borrowed TVL |
$4,755,565.32 |
| Utilization |
61.87% |
| MFAM Incentive Share |
46% |
| MOVR Incentive Share |
46% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
12.21% |
11.73% |
| Borrow Side |
-8.53% |
-8.53% |
MFAM Incentives
|
Current |
Proposed |
| Supply Side |
0.9465 MFAM / sec |
0.8885 MFAM / sec |
| -6.52% |
81,774.30 MFAM / day |
76,767.71 MFAM / day |
|
2,289,680.53 MFAM / cycle* |
2,149,496.00 MFAM / cycle* |
|
|
|
| Borrow Side |
0 MFAM / sec |
0 MFAM / sec |
| +0% |
0 MFAM / day |
0 MFAM / day |
|
0 MFAM / cycle* |
0 MFAM / cycle* |
MOVR Incentives
|
Current |
Proposed |
| Supply Side |
0.0020 MOVR / sec |
0.0019 MOVR / sec |
| -6.52% |
173.70 MOVR / day |
163.07 MOVR / day |
|
4,863.74 MOVR / cycle* |
4,565.96 MOVR / cycle* |
|
|
|
| Borrow Side |
0 MOVR / sec |
0 MOVR / sec |
| +0% |
0 MOVR / day |
0 MOVR / day |
|
0 MOVR / cycle* |
0 MOVR / cycle* |
- Reward cycle is 28 days long
ETH.multi Market
|
|
| Latest price |
$2,096.33 |
| Supplied |
2,153.28 ETH.multi |
| Borrowed |
1,131.24 ETH.multi |
| Supplied TVL |
$4,513,989.30 |
| Borrowed TVL |
$2,371,453.01 |
| Utilization |
52.54% |
| MFAM Incentive Share |
27% |
| MOVR Incentive Share |
27% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
8.60% |
10.23% |
| Borrow Side |
-7.52% |
-7.52% |
MFAM Incentives
|
Current |
Proposed |
| Supply Side |
0.4056 MFAM / sec |
0.5215 MFAM / sec |
| +22.22% |
35,046.13 MFAM / day |
45,059.31 MFAM / day |
|
981,291.65 MFAM / cycle* |
1,261,660.70 MFAM / cycle* |
|
|
|
| Borrow Side |
0 MFAM / sec |
0 MFAM / sec |
| +0% |
0 MFAM / day |
0 MFAM / day |
|
0 MFAM / cycle* |
0 MFAM / cycle* |
MOVR Incentives
|
Current |
Proposed |
| Supply Side |
0.0009 MOVR / sec |
0.0011 MOVR / sec |
| +22.22% |
74.44 MOVR / day |
95.72 MOVR / day |
|
2,084.46 MOVR / cycle* |
2,680.02 MOVR / cycle* |
|
|
|
| Borrow Side |
0 MOVR / sec |
0 MOVR / sec |
| +0% |
0 MOVR / day |
0 MOVR / day |
|
0 MOVR / cycle* |
0 MOVR / cycle* |
- Reward cycle is 28 days long
MOVR Market
|
|
| Latest price |
$8.63 |
| Supplied |
213,301.81 MOVR |
| Borrowed |
79,721.03 MOVR |
| Supplied TVL |
$1,840,815.98 |
| Borrowed TVL |
$688,000.47 |
| Utilization |
37.37% |
| MFAM Incentive Share |
11% |
| MOVR Incentive Share |
11% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
9.61% |
8.94% |
| Borrow Side |
-5.90% |
-5.90% |
MFAM Incentives
|
Current |
Proposed |
| Supply Side |
0.2318 MFAM / sec |
0.2125 MFAM / sec |
| -9.09% |
20,026.36 MFAM / day |
18,357.50 MFAM / day |
|
560,738.09 MFAM / cycle* |
514,009.91 MFAM / cycle* |
|
|
|
| Borrow Side |
0 MFAM / sec |
0 MFAM / sec |
| +0% |
0 MFAM / day |
0 MFAM / day |
|
0 MFAM / cycle* |
0 MFAM / cycle* |
MOVR Incentives
|
Current |
Proposed |
| Supply Side |
0.0005 MOVR / sec |
0.0005 MOVR / sec |
| -9.09% |
42.54 MOVR / day |
39.00 MOVR / day |
|
1,191.12 MOVR / cycle* |
1,091.86 MOVR / cycle* |
|
|
|
| Borrow Side |
0 MOVR / sec |
0 MOVR / sec |
| +0% |
0 MOVR / day |
0 MOVR / day |
|
0 MOVR / cycle* |
0 MOVR / cycle* |
- Reward cycle is 28 days long
xcKSM Market
|
|
| Latest price |
$35.88 |
| Supplied |
32,461.03 xcKSM |
| Borrowed |
8,996.41 xcKSM |
| Supplied TVL |
$1,164,639.61 |
| Borrowed TVL |
$322,774.03 |
| Utilization |
27.71% |
| MFAM Incentive Share |
7% |
| MOVR Incentive Share |
7% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
8.36% |
8.36% |
| Borrow Side |
-4.89% |
-4.89% |
MFAM Incentives
|
Current |
Proposed |
| Supply Side |
0.1352 MFAM / sec |
0.1352 MFAM / sec |
| +0.00% |
11,682.04 MFAM / day |
11,682.04 MFAM / day |
|
327,097.22 MFAM / cycle* |
327,097.22 MFAM / cycle* |
|
|
|
| Borrow Side |
0 MFAM / sec |
0 MFAM / sec |
| +0% |
0 MFAM / day |
0 MFAM / day |
|
0 MFAM / cycle* |
0 MFAM / cycle* |
MOVR Incentives
|
Current |
Proposed |
| Supply Side |
0.0003 MOVR / sec |
0.0003 MOVR / sec |
| +0.00% |
24.81 MOVR / day |
24.82 MOVR / day |
|
694.82 MOVR / cycle* |
694.82 MOVR / cycle* |
|
|
|
| Borrow Side |
0 MOVR / sec |
0 MOVR / sec |
| +0% |
0 MOVR / day |
0 MOVR / day |
|
0 MOVR / cycle* |
0 MOVR / cycle* |
- Reward cycle is 28 days long
FRAX Market
|
|
| Latest price |
$1.00 |
| Supplied |
869,144.83 FRAX |
| Borrowed |
696,266.62 FRAX |
| Supplied TVL |
$869,421.04 |
| Borrowed TVL |
$696,487.89 |
| Utilization |
80.11% |
| MFAM Incentive Share |
5% |
| MOVR Incentive Share |
5% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
17.00% |
14.18% |
| Borrow Side |
-10.65% |
-10.65% |
MFAM Incentives
|
Current |
Proposed |
| Supply Side |
0.1352 MFAM / sec |
0.0966 MFAM / sec |
| -40.00% |
11,682.04 MFAM / day |
8,344.32 MFAM / day |
|
327,097.22 MFAM / cycle* |
233,640.87 MFAM / cycle* |
|
|
|
| Borrow Side |
0 MFAM / sec |
0 MFAM / sec |
| +0% |
0 MFAM / day |
0 MFAM / day |
|
0 MFAM / cycle* |
0 MFAM / cycle* |
MOVR Incentives
|
Current |
Proposed |
| Supply Side |
0.0003 MOVR / sec |
0.0002 MOVR / sec |
| -40.00% |
24.81 MOVR / day |
17.72 MOVR / day |
|
694.82 MOVR / cycle* |
496.30 MOVR / cycle* |
|
|
|
| Borrow Side |
0 MOVR / sec |
0 MOVR / sec |
| +0% |
0 MOVR / day |
0 MOVR / day |
|
0 MOVR / cycle* |
0 MOVR / cycle* |
- Reward cycle is 28 days long
USDT.multi Market
|
|
| Latest price |
$1.00 |
| Supplied |
517,655.81 USDT.multi |
| Borrowed |
271,910.22 USDT.multi |
| Supplied TVL |
$518,194.91 |
| Borrowed TVL |
$272,193.39 |
| Utilization |
52.53% |
| MFAM Incentive Share |
4% |
| MOVR Incentive Share |
4% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
12.75% |
12.75% |
| Borrow Side |
-7.52% |
-7.52% |
MFAM Incentives
|
Current |
Proposed |
| Supply Side |
0.0773 MFAM / sec |
0.0773 MFAM / sec |
| +0.00% |
6,675.45 MFAM / day |
6,675.45 MFAM / day |
|
186,912.70 MFAM / cycle* |
186,912.70 MFAM / cycle* |
|
|
|
| Borrow Side |
0 MFAM / sec |
0 MFAM / sec |
| +0% |
0 MFAM / day |
0 MFAM / day |
|
0 MFAM / cycle* |
0 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 MOVR / sec |
0 MOVR / sec |
| +0% |
0 MOVR / day |
0 MOVR / day |
|
0 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).
DEX LP - Solarbeamâs 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.