# MIP-54 Rebalancing of Moonbeam Token Liquidity Incentives

**URL:** <https://forum.moonwell.fi/t/mip-54-rebalancing-of-moonbeam-token-liquidity-incentives/516>\
**Category:** Moonwell Improvement Proposal\
**Tags:** mip, moonbeam\
**Created:** [June 8, 2023, 11:17pm UTC](https://forum.moonwell.fi/t/mip-54-rebalancing-of-moonbeam-token-liquidity-incentives/516 "2023-06-08T23:17:49Z")\
**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:** [June 8, 2023, 11:17pm UTC](https://forum.moonwell.fi/t/mip-54-rebalancing-of-moonbeam-token-liquidity-incentives/516/1 "2023-06-08T23:17:49Z")

</div>

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

The link of the proposal on Governance Portal: [https://gov.moonwell.fi/artemis/proposal/34](https://gov.moonwell.fi/artemis/proposal/34)

- **Submitter** : Fei
- **Generator Version** : 1.0.13
- **Generated At** : Thu, 08 Jun 2023 23:04:23 GMT
- **Network** : Moonbeam
- **Block Height** : 3,739,680

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 `236,006,273` **WELL** staked in the **Safety Module** , with a valuation of `$1,118,760.50` (based on a **WELL** price of `$0.004740` 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 = `~35.87%`):
  - `2.6829` WELL / **second**
  - `231,799.44` WELL / **day**
  - `6,490,384.20` WELL / **reward cycle (28 days)**

- Proposed (estimated APR = `~35.87%`):
  - `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 `44,782,770` **WELL** and `811,661` **GLMR** provided by liquidity providers in the **StellaSwap**  **WELL** / **GLMR** pool totaling `$424,575.11`.

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, 16 Jun 2023 03:30:00 GMT**

Proposed rewards will expire at **Fri, 14 Jul 2023 03:30:00 GMT**

- Current (estimated APR = `~42.01%`) days:
  - `1.1924` WELL / **second**
  - `103,022.07` WELL / **day**
  - `2,884,618.00` WELL / **reward cycle (28 days)**

- Proposed (estimated APR = `~42.01%`):
  - `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 | **$0.2615** |
| Supplied | **26,718,410.80** GLMR |
| Borrowed | **7,222,616.38** GLMR |
| Supplied TVL | **$6,988,122.06** |
| Borrowed TVL | **$1,889,054.15** |
| Utilization | **27.03%** |
| WELL Incentive Share | **21%** |
| GLMR Incentive Share | **21%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **6.64%** | **6.64%** |
| Borrow Side | **-6.24%** | **-6.24%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.4382** WELL / sec | **0.4382** WELL / sec |
| +0.00% | **37,860.57** WELL / day | **37,860.57** WELL / day |
| | **1,060,096.09** 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** | **0.0378** GLMR / sec | **0.0378** GLMR / sec |
| +0.00% | **3,268.96** GLMR / day | **3,268.96** GLMR / day |
| | **91,530.81** 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 | **$5.03** |
| Supplied | **821,805.50** xcDOT |
| Borrowed | **520,272.87** xcDOT |
| Supplied TVL | **$4,136,968.88** |
| Borrowed TVL | **$2,619,053.65** |
| Utilization | **63.31%** |
| WELL Incentive Share | **13%** |
| GLMR Incentive Share | **13%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **17.40%** | **16.09%** |
| Borrow Side | **-23.27%** | **-23.27%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.3339** WELL / sec | **0.2713** WELL / sec |
| -23.08% | **28,846.15** WELL / day | **23,437.50** WELL / day |
| | **807,692.26** 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** | **0.0288** GLMR / sec | **0.0234** GLMR / sec |
| -23.08% | **2,490.63** GLMR / day | **2,023.64** GLMR / day |
| | **69,737.76** 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

* * *

# xcUSDT Market

| | |
| --- | --- |
| Latest price | **$1.00** |
| Supplied | **1,314,525.22** xcUSDT |
| Borrowed | **990,307.95** xcUSDT |
| Supplied TVL | **$1,314,682.96** |
| Borrowed TVL | **$990,426.79** |
| Utilization | **75.34%** |
| WELL Incentive Share | **5%** |
| GLMR Incentive Share | **5%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **7.91%** | **9.28%** |
| Borrow Side | **-3.84%** | **-3.84%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0835** WELL / sec | **0.1043** WELL / sec |
| +20.00% | **7,211.54** WELL / day | **9,014.42** WELL / day |
| | **201,923.06** WELL / cycle\* | **252,403.83** 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 | **0.0090** GLMR / sec |
| +20.00% | **622.66** GLMR / day | **778.32** GLMR / day |
| | **17,434.44** GLMR / cycle\* | **21,793.05** 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 | **5,904,829.45** FRAX |
| Borrowed | **4,791,697.77** FRAX |
| Supplied TVL | **$5,899,275.37** |
| Borrowed TVL | **$4,787,190.70** |
| Utilization | **81.15%** |
| WELL Incentive Share | **18%** |
| GLMR Incentive Share | **18%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **10.04%** | **10.34%** |
| Borrow Side | **-7.11%** | **-7.11%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.3547** WELL / sec | **0.3756** WELL / sec |
| +5.56% | **30,649.04** WELL / day | **32,451.92** WELL / day |
| | **858,173.02** WELL / cycle\* | **908,653.79** 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** | **0.0306** GLMR / sec | **0.0324** GLMR / sec |
| +5.56% | **2,646.30** GLMR / day | **2,801.96** GLMR / day |
| | **74,096.37** GLMR / cycle\* | **78,454.98** 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 | **$1,849.85** |
| Supplied | **2,560.82** ETH.wh |
| Borrowed | **979.79** ETH.wh |
| Supplied TVL | **$4,737,127.43** |
| Borrowed TVL | **$1,812,469.53** |
| Utilization | **38.26%** |
| WELL Incentive Share | **15%** |
| GLMR Incentive Share | **15%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **7.94%** | **7.94%** |
| Borrow Side | **-8.05%** | **-8.05%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.3130** WELL / sec | **0.3130** WELL / sec |
| +0.00% | **27,043.27** WELL / day | **27,043.27** WELL / day |
| | **757,211.49** 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** | **0.0270** GLMR / sec | **0.0270** GLMR / sec |
| +0.00% | **2,334.97** GLMR / day | **2,334.97** GLMR / day |
| | **65,379.15** 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 | **$26,588.71** |
| Supplied | **213.37** BTC.wh |
| Borrowed | **37.11** BTC.wh |
| Supplied TVL | **$5,673,111.55** |
| Borrowed TVL | **$986,646.33** |
| Utilization | **17.39%** |
| WELL Incentive Share | **17%** |
| GLMR Incentive Share | **17%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **5.04%** | **5.99%** |
| Borrow Side | **-4.72%** | **-4.72%** |

> #### **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

* * *

# USDC.wh Market

| | |
| --- | --- |
| Latest price | **$0.9999** |
| Supplied | **3,251,242.22** USDC.wh |
| Borrowed | **2,346,040.31** USDC.wh |
| Supplied TVL | **$3,251,073.64** |
| Borrowed TVL | **$2,345,918.67** |
| Utilization | **72.16%** |
| WELL Incentive Share | **11%** |
| GLMR Incentive Share | **11%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **9.43%** | **8.32%** |
| Borrow Side | **-3.67%** | **-3.67%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.2713** WELL / sec | **0.2295** WELL / sec |
| -18.18% | **23,437.50** WELL / day | **19,831.73** WELL / day |
| | **656,249.96** WELL / cycle\* | **555,288.43** 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** | **0.0234** GLMR / sec | **0.0198** GLMR / sec |
| -18.18% | **2,023.64** GLMR / day | **1,712.31** GLMR / day |
| | **56,661.93** GLMR / cycle\* | **47,944.71** 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.