MIP-63 Rebalancing of Moonbeam Token Liquidity Incentives
This is an automated proposal generated by the Moonwell Market Reward Adjustment Tool.
- Submitter: Curly
- Generator Version: 1.0.16
- Generated At: Thu, 03 Aug 2023 19:21:12 GMT
- Network: Moonbeam
- Block Height: 4,135,719
The submitter (Curly), as part of this proposal, will get 10,000 WELL sent to their wallet at 0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36.
Safety Module
At the time this proposal was generated there was 357,613,464 WELL staked in the Safety Module, with a valuation of $3,095,250.12 (based on a WELL price of $0.008655 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 =
~23.67%):
2.6829 WELL / second231,799.44 WELL / day6,490,384.20 WELL / reward cycle (28 days)
- Proposed (estimated APR =
~23.67%):
2.6829 WELL / second231,799.44 WELL / day6,490,384.20 WELL / reward cycle (28 days)
DEX Liquidity Pool Rewarder
At the time this proposal was generated there were 30,025,985 WELL and 1,142,858 GLMR provided by liquidity providers in the StellaSwap WELL/GLMR pool totaling $519,767.53.
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, 11 Aug 2023 03:30:00 GMT
Proposed rewards will expire at Fri, 08 Sep 2023 03:30:00 GMT
- Current (estimated APR =
~62.66%) days:
1.1924 WELL / second103,022.07 WELL / day2,884,618.00 WELL / reward cycle (28 days)
- Proposed (estimated APR =
~62.66%):
1.1924 WELL / second103,021.97 WELL / day2,884,615.20 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 |
$0.2274 |
| Supplied |
23,393,740.44 GLMR |
| Borrowed |
8,098,831.82 GLMR |
| Supplied TVL |
$5,319,694.00 |
| Borrowed TVL |
$1,841,659.62 |
| Utilization |
34.62% |
| WELL Incentive Share |
18% |
| GLMR Incentive Share |
18% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
8.53% |
6.82% |
| Borrow Side |
-7.46% |
-7.46% |
WELL Incentives
|
Current |
Proposed |
| Supply Side |
0.3965 WELL / sec |
0.3756 WELL / sec |
| -5.56% |
34,254.81 WELL / day |
32,451.92 WELL / day |
|
959,134.55 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 |
0.0342 GLMR / sec |
0.0223 GLMR / sec |
| -53.36% |
2,957.63 GLMR / day |
1,928.57 GLMR / day |
|
82,813.59 GLMR / cycle* |
54,000.00 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 |
$5.01 |
| Supplied |
798,116.78 xcDOT |
| Borrowed |
489,636.34 xcDOT |
| Supplied TVL |
$3,997,496.57 |
| Borrowed TVL |
$2,452,422.58 |
| Utilization |
61.35% |
| WELL Incentive Share |
13% |
| GLMR Incentive Share |
13% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
13.69% |
11.91% |
| Borrow Side |
-16.23% |
-16.23% |
WELL Incentives
|
Current |
Proposed |
| Supply Side |
0.2921 WELL / sec |
0.2713 WELL / sec |
| -7.69% |
25,240.38 WELL / day |
23,437.50 WELL / day |
|
706,730.72 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 |
0.0252 GLMR / sec |
0.0161 GLMR / sec |
| -56.46% |
2,179.31 GLMR / day |
1,392.86 GLMR / day |
|
61,020.54 GLMR / cycle* |
39,000.00 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 |
$0.9993 |
| Supplied |
1,792,324.32 xcUSDT |
| Borrowed |
1,361,898.43 xcUSDT |
| Supplied TVL |
$1,791,069.69 |
| Borrowed TVL |
$1,360,945.10 |
| Utilization |
75.99% |
| WELL Incentive Share |
7% |
| GLMR Incentive Share |
7% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
8.31% |
8.82% |
| Borrow Side |
-4.86% |
-4.86% |
WELL Incentives
|
Current |
Proposed |
| Supply Side |
0.1043 WELL / sec |
0.1461 WELL / sec |
| +28.57% |
9,014.42 WELL / day |
12,620.19 WELL / day |
|
252,403.83 WELL / cycle* |
353,365.36 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 |
0.0090 GLMR / sec |
0.0087 GLMR / sec |
| -3.78% |
778.32 GLMR / day |
750.00 GLMR / day |
|
21,793.05 GLMR / cycle* |
21,000.00 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 |
$0.9982 |
| Supplied |
5,894,463.05 FRAX |
| Borrowed |
4,811,061.90 FRAX |
| Supplied TVL |
$5,883,914.20 |
| Borrowed TVL |
$4,802,451.93 |
| Utilization |
81.62% |
| WELL Incentive Share |
20% |
| GLMR Incentive Share |
20% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
11.75% |
10.70% |
| Borrow Side |
-8.38% |
-8.38% |
WELL Incentives
|
Current |
Proposed |
| Supply Side |
0.3965 WELL / sec |
0.4173 WELL / sec |
| +5.00% |
34,254.81 WELL / day |
36,057.69 WELL / day |
|
959,134.55 WELL / cycle* |
1,009,615.32 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 |
0.0248 GLMR / sec |
| -38.02% |
2,957.63 GLMR / day |
2,142.86 GLMR / day |
|
82,813.59 GLMR / cycle* |
60,000.00 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 |
$1,842.27 |
| Supplied |
1,713.10 ETH.wh |
| Borrowed |
498.46 ETH.wh |
| Supplied TVL |
$3,155,992.77 |
| Borrowed TVL |
$918,306.41 |
| Utilization |
29.10% |
| WELL Incentive Share |
11% |
| GLMR Incentive Share |
11% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
9.31% |
6.73% |
| Borrow Side |
-7.74% |
-7.74% |
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 |
0.0136 GLMR / sec |
| -71.70% |
2,023.64 GLMR / day |
1,178.57 GLMR / day |
|
56,661.93 GLMR / cycle* |
33,000.00 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 |
$29,230.38 |
| Supplied |
182.27 BTC.wh |
| Borrowed |
37.57 BTC.wh |
| Supplied TVL |
$5,327,792.08 |
| Borrowed TVL |
$1,098,196.76 |
| Utilization |
20.61% |
| WELL Incentive Share |
18% |
| GLMR Incentive Share |
18% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
7.78% |
5.72% |
| Borrow Side |
-5.22% |
-5.22% |
WELL Incentives
|
Current |
Proposed |
| Supply Side |
0.4173 WELL / sec |
0.3756 WELL / sec |
| -11.11% |
36,057.69 WELL / day |
32,451.92 WELL / day |
|
1,009,615.32 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 |
0.0360 GLMR / sec |
0.0223 GLMR / sec |
| -61.43% |
3,113.29 GLMR / day |
1,928.57 GLMR / day |
|
87,172.20 GLMR / cycle* |
54,000.00 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 |
$1.00 |
| Supplied |
3,606,205.67 USDC.wh |
| Borrowed |
2,796,724.51 USDC.wh |
| Supplied TVL |
$3,607,172.03 |
| Borrowed TVL |
$2,797,473.94 |
| Utilization |
77.55% |
| WELL Incentive Share |
13% |
| GLMR Incentive Share |
13% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
8.41% |
8.50% |
| Borrow Side |
-4.97% |
-4.97% |
WELL Incentives
|
Current |
Proposed |
| Supply Side |
0.2087 WELL / sec |
0.2713 WELL / sec |
| +23.08% |
18,028.85 WELL / day |
23,437.50 WELL / day |
|
504,807.66 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 |
0.0180 GLMR / sec |
0.0161 GLMR / sec |
| -11.76% |
1,556.65 GLMR / day |
1,392.86 GLMR / day |
|
43,586.10 GLMR / cycle* |
39,000.00 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).
DEX LP - StellaSwapâs WELL/GLMR farm (StellaSwap - Leading Moonbeam DEX & DeFi Gateway).
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.
Config Hash: 45b54e784dc6a8cddf8b14f107d4361a40097153d10471fd8f12c7f842c6540d
Proposal Config