# MIP-47 Rebalancing of Moonbeam Token Liquidity Incentives

**URL:** <https://forum.moonwell.fi/t/mip-47-rebalancing-of-moonbeam-token-liquidity-incentives/499>\
**Category:** Moonwell Improvement Proposal\
**Tags:** moonbeam\
**Created:** [May 12, 2023, 1:38am UTC](https://forum.moonwell.fi/t/mip-47-rebalancing-of-moonbeam-token-liquidity-incentives/499 "2023-05-12T01:38:52Z")\
**Posts on this page:** 1\
**Page:** 1

<div class="post-metadata">

**Author:** ![lFeil](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/lfeil/32/57_2.png) [@lFeil](https://forum.moonwell.fi/u/lFeil)\
**Post date:** [May 12, 2023, 1:38am UTC](https://forum.moonwell.fi/t/mip-47-rebalancing-of-moonbeam-token-liquidity-incentives/499/1 "2023-05-12T01:38:52Z")

</div>

This is an automated proposal generated by the Moonwell Market Reward Adjustment Tool.

- **Submitter** : Fei
- **Generator Version** : 1.0.13
- **Generated At** : Fri, 12 May 2023 01:14:18 GMT
- **Network** : Moonbeam
- **Block Height** : 3,542,710

The submitter (`Fei`), as part of this proposal, will get `10,000 WELL` sent to their wallet at `0x2c4578032aa885C9b4c1Da15e6738D5A0AFb56C4`.

# Safety Module

At the time this proposal was generated there was `228,069,164` **WELL** staked in the **Safety Module** , with a valuation of `$1,369,243.93` (based on a **WELL** price of `$0.006004` pulled from **StellaSwap** ).

This proposal, if executed, would adjust the rewards on the **Safety Module** to keep emissions the same and emits `6,490,384` **WELL** over the next **28 days** :

- Current (estimated APR = `~37.12%`):
  - `2.6829` WELL / **second**
  - `231,799.44` WELL / **day**
  - `6,490,384.20` WELL / **reward cycle (28 days)**

- Proposed (estimated APR = `~37.12%`):
  - `2.6829` WELL / **second**
  - `231,799.44` WELL / **day**
  - `6,490,384.20` WELL / **reward cycle (28 days)**

# DEX Liquidity Pool Rewarder

At the time this proposal was generated there were `38,785,689` **WELL** and `822,357` **GLMR** provided by liquidity providers in the **StellaSwap**  **WELL** / **GLMR** pool totaling `$465,710.21`.

This proposal, if executed, would adjust the rewards on the **Dex Rewarder** to keep emissions the same and emits `2,884,615` **WELL** over the next **28 days** :

Current rewards will expire at **Fri, 19 May 2023 03:30:00 GMT**

Proposed rewards will expire at **Fri, 16 Jun 2023 03:30:00 GMT**

- Current (estimated APR = `~48.51%`) days:
  - `1.1924` WELL / **second**
  - `103,022.07` WELL / **day**
  - `2,884,618.00` WELL / **reward cycle (28 days)**

- Proposed (estimated APR = `~48.51%`):
  - `1.1924` WELL / **second**
  - `103,021.97` WELL / **day**
  - `2,884,615.20` WELL / **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.

* * *

# GLMR Market

| | |
| --- | --- |
| Latest price | **$0.2832** |
| Supplied | **25,308,605.29** GLMR |
| Borrowed | **7,760,100.07** GLMR |
| Supplied TVL | **$7,166,273.06** |
| Borrowed TVL | **$2,197,315.71** |
| Utilization | **30.66%** |
| WELL Incentive Share | **21%** |
| GLMR Incentive Share | **21%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **8.80%** | **7.40%** |
| Borrow Side | **-6.82%** | **-6.82%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.5425** WELL / sec | **0.4382** WELL / sec |
| -23.81% | **46,875.00** WELL / day | **37,860.57** WELL / day |
| | **1,312,499.92** WELL / cycle\* | **1,060,096.09** WELL / cycle\* |
| | | |
| **Borrow Side** | **0** WELL / sec | **0** WELL / sec |
| +0% | **0** WELL / day | **0** WELL / day |
| | **0** WELL / cycle\* | **0** WELL / cycle\* |

> #### **GLMR** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0468** GLMR / sec | **0.0378** GLMR / sec |
| -23.81% | **4,047.28** GLMR / day | **3,268.96** GLMR / day |
| | **113,323.86** GLMR / cycle\* | **91,530.81** GLMR / cycle\* |
| | | |
| **Borrow Side** | **0** GLMR / sec | **0** GLMR / sec |
| +0% | **0** GLMR / day | **0** GLMR / day |
| | **0** GLMR / cycle\* | **0** GLMR / cycle\* |

- Reward cycle is **28 days** long

* * *

# xcDOT Market

| | |
| --- | --- |
| Latest price | **$5.31** |
| Supplied | **941,461.45** xcDOT |
| Borrowed | **544,491.93** xcDOT |
| Supplied TVL | **$4,994,641.27** |
| Borrowed TVL | **$2,888,638.57** |
| Utilization | **57.83%** |
| WELL Incentive Share | **16%** |
| GLMR Incentive Share | **16%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **12.36%** | **11.16%** |
| Borrow Side | **-11.26%** | **-11.26%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.3965** WELL / sec | **0.3339** WELL / sec |
| -18.75% | **34,254.81** WELL / day | **28,846.15** WELL / day |
| | **959,134.55** WELL / cycle\* | **807,692.26** WELL / cycle\* |
| | | |
| **Borrow Side** | **0** WELL / sec | **0** WELL / sec |
| +0% | **0** WELL / day | **0** WELL / day |
| | **0** WELL / cycle\* | **0** WELL / cycle\* |

> #### **GLMR** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0342** GLMR / sec | **0.0288** GLMR / sec |
| -18.75% | **2,957.63** GLMR / day | **2,490.63** GLMR / day |
| | **82,813.59** GLMR / cycle\* | **69,737.76** GLMR / cycle\* |
| | | |
| **Borrow Side** | **0** GLMR / sec | **0** GLMR / sec |
| +0% | **0** GLMR / day | **0** GLMR / day |
| | **0** GLMR / cycle\* | **0** GLMR / cycle\* |

- Reward cycle is **28 days** long

* * *

# xcUSDT Market

| | |
| --- | --- |
| Latest price | **$1.00** |
| Supplied | **1,277,528.58** xcUSDT |
| Borrowed | **980,550.10** xcUSDT |
| Supplied TVL | **$1,278,295.10** |
| Borrowed TVL | **$981,138.43** |
| Utilization | **76.75%** |
| WELL Incentive Share | **4%** |
| GLMR Incentive Share | **4%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **8.81%** | **8.81%** |
| Borrow Side | **-3.91%** | **-3.91%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0835** WELL / sec | **0.0835** WELL / sec |
| +0.00% | **7,211.54** WELL / day | **7,211.54** WELL / day |
| | **201,923.06** WELL / cycle\* | **201,923.06** WELL / cycle\* |
| | | |
| **Borrow Side** | **0** WELL / sec | **0** WELL / sec |
| +0% | **0** WELL / day | **0** WELL / day |
| | **0** WELL / cycle\* | **0** WELL / cycle\* |

> #### **GLMR** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0072** GLMR / sec | **0.0072** GLMR / sec |
| +0.00% | **622.66** GLMR / day | **622.66** GLMR / day |
| | **17,434.44** GLMR / cycle\* | **17,434.44** GLMR / cycle\* |
| | | |
| **Borrow Side** | **0** GLMR / sec | **0** GLMR / sec |
| +0% | **0** GLMR / day | **0** GLMR / day |
| | **0** GLMR / cycle\* | **0** GLMR / cycle\* |

- Reward cycle is **28 days** long

* * *

# FRAX Market

| | |
| --- | --- |
| Latest price | **$0.9991** |
| Supplied | **5,865,306.85** FRAX |
| Borrowed | **4,906,956.50** FRAX |
| Supplied TVL | **$5,859,865.37** |
| Borrowed TVL | **$4,902,404.12** |
| Utilization | **83.66%** |
| WELL Incentive Share | **17%** |
| GLMR Incentive Share | **17%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **14.59%** | **15.62%** |
| Borrow Side | **-14.05%** | **-14.05%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.2921** WELL / sec | **0.3547** WELL / sec |
| +17.65% | **25,240.38** WELL / day | **30,649.04** WELL / day |
| | **706,730.72** WELL / cycle\* | **858,173.02** WELL / cycle\* |
| | | |
| **Borrow Side** | **0** WELL / sec | **0** WELL / sec |
| +0% | **0** WELL / day | **0** WELL / day |
| | **0** WELL / cycle\* | **0** WELL / cycle\* |

> #### **GLMR** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0252** GLMR / sec | **0.0306** GLMR / sec |
| +17.65% | **2,179.31** GLMR / day | **2,646.30** GLMR / day |
| | **61,020.54** GLMR / cycle\* | **74,096.37** GLMR / cycle\* |
| | | |
| **Borrow Side** | **0** GLMR / sec | **0** GLMR / sec |
| +0% | **0** GLMR / day | **0** GLMR / day |
| | **0** GLMR / cycle\* | **0** GLMR / cycle\* |

- Reward cycle is **28 days** long

* * *

# ETH.wh Market

| | |
| --- | --- |
| Latest price | **$1,799.96** |
| Supplied | **2,759.68** ETH.wh |
| Borrowed | **1,080.83** ETH.wh |
| Supplied TVL | **$4,967,327.47** |
| Borrowed TVL | **$1,945,460.82** |
| Utilization | **39.17%** |
| WELL Incentive Share | **15%** |
| GLMR Incentive Share | **15%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **7.99%** | **8.39%** |
| Borrow Side | **-8.19%** | **-8.19%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.2921** WELL / sec | **0.3130** WELL / sec |
| +6.67% | **25,240.38** WELL / day | **27,043.27** WELL / day |
| | **706,730.72** WELL / cycle\* | **757,211.49** WELL / cycle\* |
| | | |
| **Borrow Side** | **0** WELL / sec | **0** WELL / sec |
| +0% | **0** WELL / day | **0** WELL / day |
| | **0** WELL / cycle\* | **0** WELL / cycle\* |

> #### **GLMR** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0252** GLMR / sec | **0.0270** GLMR / sec |
| +6.67% | **2,179.31** GLMR / day | **2,334.97** GLMR / day |
| | **61,020.54** GLMR / cycle\* | **65,379.15** GLMR / cycle\* |
| | | |
| **Borrow Side** | **0** GLMR / sec | **0** GLMR / sec |
| +0% | **0** GLMR / day | **0** GLMR / day |
| | **0** GLMR / cycle\* | **0** GLMR / cycle\* |

- Reward cycle is **28 days** long

* * *

# BTC.wh Market

| | |
| --- | --- |
| Latest price | **$27,041.36** |
| Supplied | **159.76** BTC.wh |
| Borrowed | **33.12** BTC.wh |
| Supplied TVL | **$4,320,136.51** |
| Borrowed TVL | **$895,611.58** |
| Utilization | **20.73%** |
| WELL Incentive Share | **14%** |
| GLMR Incentive Share | **14%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **6.36%** | **7.29%** |
| Borrow Side | **-5.24%** | **-5.24%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.2504** WELL / sec | **0.2921** WELL / sec |
| +14.29% | **21,634.61** WELL / day | **25,240.38** WELL / day |
| | **605,769.19** WELL / cycle\* | **706,730.72** WELL / cycle\* |
| | | |
| **Borrow Side** | **0** WELL / sec | **0** WELL / sec |
| +0% | **0** WELL / day | **0** WELL / day |
| | **0** WELL / cycle\* | **0** WELL / cycle\* |

> #### **GLMR** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0216** GLMR / sec | **0.0252** GLMR / sec |
| +14.29% | **1,867.98** GLMR / day | **2,179.31** GLMR / day |
| | **52,303.32** GLMR / cycle\* | **61,020.54** GLMR / cycle\* |
| | | |
| **Borrow Side** | **0** GLMR / sec | **0** GLMR / sec |
| +0% | **0** GLMR / day | **0** GLMR / day |
| | **0** GLMR / cycle\* | **0** GLMR / cycle\* |

- Reward cycle is **28 days** long

* * *

# USDC.wh Market

| | |
| --- | --- |
| Latest price | **$0.9999** |
| Supplied | **4,227,183.49** USDC.wh |
| Borrowed | **2,095,709.74** USDC.wh |
| Supplied TVL | **$4,226,729.03** |
| Borrowed TVL | **$2,095,484.43** |
| Utilization | **49.58%** |
| WELL Incentive Share | **13%** |
| GLMR Incentive Share | **13%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **6.27%** | **7.21%** |
| Borrow Side | **-2.51%** | **-2.51%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.2295** WELL / sec | **0.2713** WELL / sec |
| +15.38% | **19,831.73** WELL / day | **23,437.50** WELL / day |
| | **555,288.43** WELL / cycle\* | **656,249.96** WELL / cycle\* |
| | | |
| **Borrow Side** | **0** WELL / sec | **0** WELL / sec |
| +0% | **0** WELL / day | **0** WELL / day |
| | **0** WELL / cycle\* | **0** WELL / cycle\* |

> #### **GLMR** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0198** GLMR / sec | **0.0234** GLMR / sec |
| +15.38% | **1,712.31** GLMR / day | **2,023.64** GLMR / day |
| | **47,944.71** GLMR / cycle\* | **56,661.93** GLMR / cycle\* |
| | | |
| **Borrow Side** | **0** GLMR / sec | **0** GLMR / sec |
| +0% | **0** GLMR / day | **0** GLMR / day |
| | **0** GLMR / cycle\* | **0** GLMR / cycle\* |

- Reward cycle is **28 days** long

* * *

# Definitions

**WELL** - The Moonwell Artemis governance token

**Liquidity Incentives** - WELL tokens that have been allocated for use as rewards to incentivize liquidity growth.

**Core** - Moonwell Artemis lending protocol ([Moonwell: DeFi’s Liquidity Well](https://moonwell.fi/artemis)).

**DEX LP** - StellaSwap’s WELL/GLMR farm ([StellaSwap - Leading Moonbeam DEX & DeFi Gateway](https://app.stellaswap.com/farm)).

**Safety Module** - Smart contract that allows users to stake their WELL tokens in order to earn liquidity incentives and help backstop the Moonwell protocol.

**Reward Speed** - The rate at which WELL tokens (on a per second basis) are distributed proportionally to DEX LPs, wallets staking in the Safety Module, and those supplying/borrowing on Moonwell.