MIP-64 Rebalancing of Moonriver 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 19:31:04 GMT
- Network: Moonriver
- Block Height: 4,814,307
The submitter (Curly), as part of this proposal, will get 100,000 MFAM sent to their wallet at 0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36.
Safety Module
At the time this proposal was generated there was 196,291,396 MFAM staked in the Safety Module, with a valuation of $137,418.68 (based on a MFAM price of $0.000700 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 =
~34.16%):2.1247MFAM / second183,574.97MFAM / day5,140,099.14MFAM / reward cycle (28 days)
- Proposed (estimated APR =
~34.16%):2.1247MFAM / second183,574.97MFAM / day5,140,099.14MFAM / reward cycle (28 days)
DEX Liquidity Pool Rewarder
At the time this proposal was generated there were 109,796,809 MFAM and 15,936 MOVR provided by liquidity providers in the SolarBeam MFAM/MOVR pool totaling $153,731.98.
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, 11 Aug 2023 03:30:00 GMT
Proposed rewards will expire at Fri, 08 Sep 2023 03:30:00 GMT
- Current (estimated APR =
~34.24%) days:2.3823MFAM / second205,826.57MFAM / day5,763,144.00MFAM / reward cycle (28 days)
- Proposed (estimated APR =
~34.24%):2.3823MFAM / second205,826.48MFAM / day5,763,141.46MFAM / 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.
MOVR Market
| Latest price | $4.82 |
| Supplied | 244,248.71 MOVR |
| Borrowed | 79,388.30 MOVR |
| Supplied TVL | $1,178,108.39 |
| Borrowed TVL | $382,921.27 |
| Utilization | 32.50% |
| MFAM Incentive Share | 42% |
| MOVR Incentive Share | 42% |
| Estimated APRs | Current | Proposed |
|---|---|---|
| Supply Side | 29.42% | 8.77% |
| Borrow Side | -7.12% | -7.12% |
MFAM Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.9465 MFAM / sec | 0.8113 MFAM / sec |
| -16.67% | 81,774.30 MFAM / day | 70,092.26 MFAM / day |
| 2,289,680.53 MFAM / cycle* | 1,962,583.31 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 | 0.0004 MOVR / sec |
| -366.67% | 173.70 MOVR / day | 37.22 MOVR / day |
| 4,863.74 MOVR / cycle* | 1,042.23 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 | $23.34 |
| Supplied | 59,850.90 xcKSM |
| Borrowed | 19,011.93 xcKSM |
| Supplied TVL | $1,397,091.37 |
| Borrowed TVL | $443,792.77 |
| Utilization | 31.77% |
| MFAM Incentive Share | 49% |
| MOVR Incentive Share | 49% |
| Estimated APRs | Current | Proposed |
|---|---|---|
| Supply Side | 22.15% | 8.59% |
| Borrow Side | -7.00% | -7.00% |
MFAM Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.8306 MFAM / sec | 0.9465 MFAM / sec |
| +12.24% | 71,761.12 MFAM / day | 81,774.30 MFAM / day |
| 2,009,311.48 MFAM / cycle* | 2,289,680.53 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 | 0.0018 MOVR / sec | 0.0005 MOVR / sec |
| -251.02% | 152.43 MOVR / day | 43.43 MOVR / day |
| 4,268.18 MOVR / cycle* | 1,215.94 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 | $0.9985 |
| Supplied | 243,182.17 FRAX |
| Borrowed | 194,159.32 FRAX |
| Supplied TVL | $242,825.86 |
| Borrowed TVL | $193,874.84 |
| Utilization | 79.84% |
| MFAM Incentive Share | 9% |
| MOVR Incentive Share | 9% |
| Estimated APRs | Current | Proposed |
|---|---|---|
| Supply Side | 24.71% | 10.11% |
| Borrow Side | -4.07% | -4.07% |
MFAM Incentives
| Current | Proposed | |
|---|---|---|
| Supply Side | 0.1545 MFAM / sec | 0.1738 MFAM / sec |
| +11.11% | 13,350.91 MFAM / day | 15,019.77 MFAM / day |
| 373,825.39 MFAM / cycle* | 420,553.57 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 | 0.0001 MOVR / sec |
| -255.56% | 28.36 MOVR / day | 7.98 MOVR / day |
| 794.08 MOVR / cycle* | 223.33 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.
Config Hash: c7e247241cdd90dc4342d6300caeaac190c9041ae4490009944fa9e00bfa8c6f
Proposal Config