# MIP-49 Rebalancing of Moonriver Token Liquidity Incentives

**URL:** <https://forum.moonwell.fi/t/mip-49-rebalancing-of-moonriver-token-liquidity-incentives/503>\
**Category:** Moonwell Improvement Proposal\
**Tags:** mip, moonriver\
**Created:** [May 15, 2023, 3:29am UTC](https://forum.moonwell.fi/t/mip-49-rebalancing-of-moonriver-token-liquidity-incentives/503 "2023-05-15T03:29:01Z")\
**Posts on this page:** 2\
**Page:** 1

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**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:** [May 15, 2023, 3:29am UTC](https://forum.moonwell.fi/t/mip-49-rebalancing-of-moonriver-token-liquidity-incentives/503/1 "2023-05-15T03:29:02Z")

</div>

# MIP-49 Rebalancing of Moonriver Token Liquidity Incentives

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

- **Submitter** : Fechuky
- **Generator Version** : 1.0.13
- **Generated At** : Mon, 15 May 2023 03:08:25 GMT
- **Network** : Moonriver
- **Block Height** : 4,243,899

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 `173,977,202` **MFAM** staked in the **Safety Module** , with a valuation of `$234,920.22` (based on a **MFAM** price of `$0.001350` 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 = `~38.54%`):
  - `2.1247` MFAM / **second**
  - `183,574.97` MFAM / **day**
  - `5,140,099.14` MFAM / **reward cycle (28 days)**

- Proposed (estimated APR = `~38.54%`):
  - `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 `88,450,585` **MFAM** and `18,570` **MOVR** provided by liquidity providers in the **SolarBeam**  **MFAM** / **MOVR** pool totaling `$238,868.43`.

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, 19 May 2023 03:30:00 GMT**

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

- Current (estimated APR = `~42.50%`) days:
  - `2.3823` MFAM / **second**
  - `205,826.57` MFAM / **day**
  - `5,763,144.00` MFAM / **reward cycle (28 days)**

- Proposed (estimated APR = `~42.50%`):
  - `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 | **$0.9999** |
| Supplied | **8,743,566.40** USDC.multi |
| Borrowed | **6,066,179.05** USDC.multi |
| Supplied TVL | **$8,742,692.04** |
| Borrowed TVL | **$6,065,572.43** |
| Utilization | **69.38%** |
| MFAM Incentive Share | **64%** |
| MOVR Incentive Share | **64%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **6.88%** | **8.76%** |
| Borrow Side | **-3.53%** | **-3.53%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.8885** MFAM / sec | **1.2362** MFAM / sec |
| +28.13% | **76,767.71** MFAM / day | **106,807.25** MFAM / day |
| | **2,149,496.00** MFAM / cycle\* | **2,990,603.14** 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** | **0.0019** MOVR / sec | **0.0026** MOVR / sec |
| +28.13% | **163.07** MOVR / day | **226.88** MOVR / day |
| | **4,565.96** MOVR / cycle\* | **6,352.64** 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 | **$1,825.54** |
| Supplied | **1,155.20** ETH.multi |
| Borrowed | **113.60** ETH.multi |
| Supplied TVL | **$2,108,872.74** |
| Borrowed TVL | **$207,384.82** |
| Utilization | **9.83%** |
| MFAM Incentive Share | **15%** |
| MOVR Incentive Share | **15%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **11.96%** | **6.76%** |
| Borrow Side | **-3.54%** | **-3.54%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.5215** MFAM / sec | **0.2897** MFAM / sec |
| -80.00% | **45,059.31** MFAM / day | **25,032.95** MFAM / day |
| | **1,261,660.70** MFAM / cycle\* | **700,922.61** 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** | **0.0011** MOVR / sec | **0.0006** MOVR / sec |
| -80.00% | **95.72** MOVR / day | **53.18** MOVR / day |
| | **2,680.02** MOVR / cycle\* | **1,488.90** 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 | **$6.43** |
| Supplied | **142,096.72** MOVR |
| Borrowed | **37,330.71** MOVR |
| Supplied TVL | **$913,918.70** |
| Borrowed TVL | **$240,098.65** |
| Utilization | **26.27%** |
| MFAM Incentive Share | **6%** |
| MOVR Incentive Share | **6%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **12.18%** | **7.18%** |
| Borrow Side | **-6.12%** | **-6.12%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.2125** MFAM / sec | **0.1159** MFAM / sec |
| -83.33% | **18,357.50** MFAM / day | **10,013.18** MFAM / day |
| | **514,009.91** MFAM / cycle\* | **280,369.04** 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 | **0.0002** MOVR / sec |
| -83.33% | **38.99** MOVR / day | **21.27** MOVR / day |
| | **1,091.86** MOVR / cycle\* | **595.56** 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 | **$25.69** |
| Supplied | **24,922.37** xcKSM |
| Borrowed | **4,547.36** xcKSM |
| Supplied TVL | **$640,289.50** |
| Borrowed TVL | **$116,827.80** |
| Utilization | **18.25%** |
| MFAM Incentive Share | **5%** |
| MOVR Incentive Share | **5%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **10.65%** | **7.79%** |
| Borrow Side | **-4.85%** | **-4.85%** |

> #### **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

* * *

# FRAX Market

| | |
| --- | --- |
| Latest price | **$1.00** |
| Supplied | **592,330.99** FRAX |
| Borrowed | **465,928.46** FRAX |
| Supplied TVL | **$592,809.22** |
| Borrowed TVL | **$466,304.63** |
| Utilization | **78.66%** |
| MFAM Incentive Share | **5%** |
| MOVR Incentive Share | **5%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **10.38%** | **10.38%** |
| Borrow Side | **-4.01%** | **-4.01%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0966** MFAM / sec | **0.0966** MFAM / sec |
| +0.00% | **8,344.32** MFAM / day | **8,344.32** MFAM / day |
| | **233,640.87** 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** | **0.0002** MOVR / sec | **0.0002** MOVR / sec |
| +0.00% | **17.72** MOVR / day | **17.72** MOVR / day |
| | **496.30** 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 | **566,951.16** USDT.multi |
| Borrowed | **366,943.16** USDT.multi |
| Supplied TVL | **$567,228.96** |
| Borrowed TVL | **$367,122.96** |
| Utilization | **64.72%** |
| MFAM Incentive Share | **5%** |
| MOVR Incentive Share | **5%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **8.24%** | **9.86%** |
| Borrow Side | **-3.29%** | **-3.29%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0773** MFAM / sec | **0.0966** MFAM / sec |
| +20.00% | **6,675.45** MFAM / day | **8,344.32** MFAM / day |
| | **186,912.70** 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** | **0.0002** MOVR / sec | **0.0002** MOVR / sec |
| +20.00% | **14.18** MOVR / day | **17.72** MOVR / day |
| | **397.04** 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

* * *

# 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.

---

<div class="post-metadata">

**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:** [May 15, 2023, 4:28am UTC](https://forum.moonwell.fi/t/mip-49-rebalancing-of-moonriver-token-liquidity-incentives/503/2 "2023-05-15T04:28:16Z")

</div>

Hello MFAM! My previous reward speed proposal [MIP-48](https://gov.moonwell.fi/apollo/proposal/21) was defeated by a very slim margin (49.52% to 50.48%). I noticed there were a few large wallets that voted against it, but nobody shared any rationale or feedback with the community either here or in Discord. Your feedback is very important - if you have any thoughts, questions, or concerns, please voice them here or in the Moonwell Discord.

I have rerun the market reward adjuster tool and submitted a new proposal [MIP-49](https://gov.moonwell.fi/apollo/proposal/22). This was done quickly to avoid the DEX rewarder contract breaking. If you look at [MIP-42](https://gov.moonwell.fi/apollo/proposal/18), you can see that the DEX rewarder is currently set to expire on **Fri May 19 2023 00:30:00 GMT-0300**.

 ![Captura de pantalla 2023-05-15 a la(s) 01.27.00](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/1X/a12a8bd2caa99d6a829b78f9a58b3c5e0de8391c.png)

I also want to stress that if this proposal does not pass, the DEX rewarder will break and will have to be redeployed, rewards will go to zero on the Solarbeam MFAM-MOVR farm, and Safety Module staking rewards will likely run dry. This proposal also helps to balance rewards across all markets. If you stake or hold MFAM, please help the community pass this important proposal!