MIP-M08 Rebalancing of Moonbeam Token Liquidity Incentives
This is an automated proposal generated by the Moonwell Market Reward Adjustment Tool.
- Submitter: Curly
- Generator Version: 1.0.20
- Generated At: Thu, 26 Oct 2023 02:41:29 GMT
- Network: Moonbeam
- Block Height: 4,728,054
The submitter (Curly
), as part of this proposal, will get 50,000 WELL
sent to their wallet at 0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36
.
Safety Module
At the time this proposal was generated there was 366,051,298
WELL staked in the Safety Module, with a valuation of $1,568,926.35
(based on a WELL price of $0.004286
pulled from StellaSwap).
This proposal, if executed, would adjust the rewards on the Safety Module to increase emissions +4.44% and emits 6,778,846
WELL over the next 28 days:
- Current (estimated APR =
~23.13%
):
2.6829
WELL / second
231,799.44
WELL / day
6,490,384.20
WELL / reward cycle (28 days)
- Proposed (estimated APR =
~24.16%
):
2.8021
WELL / second
242,101.63
WELL / day
6,778,845.72
WELL / reward cycle (28 days)
DEX Liquidity Pool Rewarder
At the time this proposal was generated there were 40,017,174
WELL and 820,846
GLMR provided by liquidity providers in the StellaSwap WELL/GLMR pool totaling $343,033.88
.
This proposal, if executed, would adjust the rewards on the Dex Rewarder to decrease emissions -40.00% and emits 865,385
WELL over the next 28 days:
Current rewards will expire at Fri, 03 Nov 2023 03:30:00 GMT
Proposed rewards will expire at Fri, 01 Dec 2023 03:30:00 GMT
- Current (estimated APR =
~23.51%
) days:
0.5962
WELL / second
51,511.07
WELL / day
1,442,310.00
WELL / reward cycle (28 days)
- Proposed (estimated APR =
~14.10%
):
0.3577
WELL / second
30,906.59
WELL / day
865,384.56
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 |
$0.2090 |
Supplied |
19,371,568.47 GLMR |
Borrowed |
6,628,005.19 GLMR |
Supplied TVL |
$4,047,718.48 |
Borrowed TVL |
$1,384,931.69 |
Utilization |
34.22% |
WELL Incentive Share |
19% |
GLMR Incentive Share |
19% |
Estimated APRs |
Current |
Proposed |
Supply Side |
6.11% |
6.99% |
Borrow Side |
-7.39% |
-7.39% |
WELL Incentives
|
Current |
Proposed |
Supply Side |
0.4293 WELL / sec |
0.5324 WELL / sec |
+19.37% |
37,087.91 WELL / day |
45,999.31 WELL / day |
|
1,038,461.47 WELL / cycle* |
1,287,980.69 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 |
0.0174 GLMR / sec |
0.0206 GLMR / sec |
+15.79% |
1,501.77 GLMR / day |
1,783.35 GLMR / day |
|
42,049.42 GLMR / cycle* |
49,933.69 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 |
$4.30 |
Supplied |
810,997.47 xcDOT |
Borrowed |
500,862.81 xcDOT |
Supplied TVL |
$3,490,533.11 |
Borrowed TVL |
$2,155,713.55 |
Utilization |
61.76% |
WELL Incentive Share |
14% |
GLMR Incentive Share |
14% |
Estimated APRs |
Current |
Proposed |
Supply Side |
11.54% |
12.22% |
Borrow Side |
-17.67% |
-17.67% |
WELL Incentives
|
Current |
Proposed |
Supply Side |
0.3219 WELL / sec |
0.3923 WELL / sec |
+17.93% |
27,815.93 WELL / day |
33,894.23 WELL / day |
|
778,846.10 WELL / cycle* |
949,038.40 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 |
0.0130 GLMR / sec |
0.0152 GLMR / sec |
+14.29% |
1,126.32 GLMR / day |
1,314.04 GLMR / day |
|
31,537.07 GLMR / cycle* |
36,793.25 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 |
1,246,039.77 xcUSDT |
Borrowed |
992,589.93 xcUSDT |
Supplied TVL |
$1,246,337.58 |
Borrowed TVL |
$992,827.16 |
Utilization |
79.66% |
WELL Incentive Share |
8% |
GLMR Incentive Share |
8% |
Estimated APRs |
Current |
Proposed |
Supply Side |
7.76% |
10.45% |
Borrow Side |
-5.10% |
-5.10% |
WELL Incentives
|
Current |
Proposed |
Supply Side |
0.1341 WELL / sec |
0.2242 WELL / sec |
+40.16% |
11,589.97 WELL / day |
19,368.13 WELL / day |
|
324,519.21 WELL / cycle* |
542,307.66 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 |
0.0054 GLMR / sec |
0.0087 GLMR / sec |
+37.50% |
469.30 GLMR / day |
750.88 GLMR / day |
|
13,140.44 GLMR / cycle* |
21,024.71 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
FRAX Market
|
|
Latest price |
$0.9999 |
Supplied |
5,214,758.12 FRAX |
Borrowed |
4,425,847.82 FRAX |
Supplied TVL |
$5,214,137.40 |
Borrowed TVL |
$4,425,321.01 |
Utilization |
84.87% |
WELL Incentive Share |
19% |
GLMR Incentive Share |
19% |
Estimated APRs |
Current |
Proposed |
Supply Side |
16.10% |
16.37% |
Borrow Side |
-17.56% |
-17.56% |
WELL Incentives
|
Current |
Proposed |
Supply Side |
0.4829 WELL / sec |
0.5324 WELL / sec |
+9.29% |
41,723.90 WELL / day |
45,999.31 WELL / day |
|
1,168,269.16 WELL / cycle* |
1,287,980.69 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 |
0.0196 GLMR / sec |
0.0206 GLMR / sec |
+5.26% |
1,689.49 GLMR / day |
1,783.35 GLMR / day |
|
47,305.60 GLMR / cycle* |
49,933.69 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 |
$1,793.09 |
Supplied |
1,669.08 ETH.wh |
Borrowed |
272.55 ETH.wh |
Supplied TVL |
$2,992,816.43 |
Borrowed TVL |
$488,711.74 |
Utilization |
16.33% |
WELL Incentive Share |
15% |
GLMR Incentive Share |
15% |
Estimated APRs |
Current |
Proposed |
Supply Side |
7.47% |
6.11% |
Borrow Side |
-5.19% |
-5.19% |
WELL Incentives
|
Current |
Proposed |
Supply Side |
0.5097 WELL / sec |
0.4203 WELL / sec |
-21.28% |
44,041.89 WELL / day |
36,315.24 WELL / day |
|
1,233,173.00 WELL / cycle* |
1,016,826.86 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 |
0.0206 GLMR / sec |
0.0163 GLMR / sec |
-26.67% |
1,783.35 GLMR / day |
1,407.90 GLMR / day |
|
49,933.69 GLMR / cycle* |
39,421.33 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 |
$34,676.94 |
Supplied |
183.57 BTC.wh |
Borrowed |
36.84 BTC.wh |
Supplied TVL |
$6,365,576.82 |
Borrowed TVL |
$1,277,474.36 |
Utilization |
20.07% |
WELL Incentive Share |
15% |
GLMR Incentive Share |
15% |
Estimated APRs |
Current |
Proposed |
Supply Side |
3.47% |
3.34% |
Borrow Side |
-5.14% |
-5.14% |
WELL Incentives
|
Current |
Proposed |
Supply Side |
0.4293 WELL / sec |
0.4203 WELL / sec |
-2.13% |
37,087.91 WELL / day |
36,315.24 WELL / day |
|
1,038,461.47 WELL / cycle* |
1,016,826.86 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 |
0.0174 GLMR / sec |
0.0163 GLMR / sec |
-6.67% |
1,501.77 GLMR / day |
1,407.90 GLMR / day |
|
42,049.42 GLMR / cycle* |
39,421.33 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 |
2,841,866.00 USDC.wh |
Borrowed |
1,899,994.41 USDC.wh |
Supplied TVL |
$2,842,355.94 |
Borrowed TVL |
$1,900,321.96 |
Utilization |
66.86% |
WELL Incentive Share |
10% |
GLMR Incentive Share |
10% |
Estimated APRs |
Current |
Proposed |
Supply Side |
7.72% |
6.25% |
Borrow Side |
-4.27% |
-4.27% |
WELL Incentives
|
Current |
Proposed |
Supply Side |
0.3756 WELL / sec |
0.2802 WELL / sec |
-34.04% |
32,451.92 WELL / day |
24,210.16 WELL / day |
|
908,653.79 WELL / cycle* |
677,884.57 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 |
0.0152 GLMR / sec |
0.0109 GLMR / sec |
-40.00% |
1,314.04 GLMR / day |
938.60 GLMR / day |
|
36,793.25 GLMR / cycle* |
26,280.89 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
xcUSDC Market
|
|
Latest price |
$1.00 |
Supplied |
0.0600 xcUSDC |
Borrowed |
0.0100 xcUSDC |
Supplied TVL |
$0.0600 |
Borrowed TVL |
$0.0100 |
Utilization |
16.67% |
WELL Incentive Share |
0% |
GLMR Incentive Share |
0% |
Estimated APRs |
Current |
Proposed |
Supply Side |
0.5208% |
0.7032% |
Borrow Side |
-3.73% |
-3.73% |
WELL Incentives
|
Current |
Proposed |
Supply Side |
0 WELL / sec |
0 WELL / sec |
+100.00% |
0 WELL / day |
0.0000 WELL / day |
|
0 WELL / cycle* |
0.0007 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 GLMR / sec |
0 GLMR / sec |
+100.00% |
0 GLMR / day |
0.0000 GLMR / day |
|
0 GLMR / cycle* |
0.0000 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 - StellaSwap’s 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: fcf4e4ee57553afd9cb4bcd40bf00a336926670e5817742857327a8c2030be72
Proposal Config
{
"_meta": {
"generatedAt": "2023-10-26T01:07:36.302Z",
"generatorVersion": "1.0.20"
},
"snapshotBlock": 4728054,
"safetyModuleInfo": {
"totalStaked": "366051298.297938871117865654",
"stakedTVL": "1568926.3543977006687244519151506826370469636836756972",
"govTokenPrice": "0.0042860832940434207955738818",
"emissions": {
"emissionsPerSecond": "2.682863839285714285",
"lastUpdateTimestamp": 1698282066,
"emissionAPR": "23.129201914681360872",
"emissionsPerYear": "84664743.894642857120316"
}
},
"dexInfo": {
"govTokenTotal": "40017173.744573603797047223",
"nativeAssetTotal": "820845.658695885585502713",
"govTokenPrice": "0.0042860832940434207955738818",
"nextFreeSlot": 19,
"emissionsPerYear": "18814418.8392857142792024",
"poolTVL": "343033.8797228998477865326999883540110547385800202414",
"currentPoolAPR": "23.507930569230893254",
"currentPoolRewardInfo": {
"startTimestamp": 1696563000,
"endTimestamp": 1698982200,
"rewardPerSec": "0.596192956349206349"
}
},
"marketData": {
"assets": {
"GLMR": {
"price": "0.20895151",
"totalSuppliedUnderlying": "19371568.472534758018575312958425491399405876",
"totalSuppliedTVL": "4047718.48340453121546591969138557365039787089307276",
"totalBorrows": "6628005.187275910927776778",
"totalBorrowedTVL": "1384931.69216913437498445870603478",
"utilization": "0.3421511890827619937",
"baseSupplyAPR": "580363850",
"baseBorrowAPR": "2261627293",
"govSupplySpeed": "429258214285714285",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "17381541005291005",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
},
"xcDOT": {
"price": "4.304",
"totalSuppliedUnderlying": "810997.4689485687997721825688158748",
"totalSuppliedTVL": "3490533.1063546401142194737761835251392",
"totalBorrows": "500862.8140793488",
"totalBorrowedTVL": "2155713.5517975172352",
"utilization": "0.61758862790126922625",
"baseSupplyAPR": "2390657314",
"baseBorrowAPR": "5161272313",
"govSupplySpeed": "321943660714285714",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "13036155753968253",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
},
"xcUSDT": {
"price": "1.000239",
"totalSuppliedUnderlying": "1246039.774043998879567194847899",
"totalSuppliedTVL": "1246337.577549995395299411407467647861",
"totalBorrows": "992589.931591",
"totalBorrowedTVL": "992827.160584650249",
"utilization": "0.79659570446099634821",
"baseSupplyAPR": "1068976741",
"baseBorrowAPR": "1578742754",
"govSupplySpeed": "134143191964285714",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "5431731564153439",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
},
"FRAX": {
"price": "0.99988097",
"totalSuppliedUnderlying": "5214758.11690945005712879298671655359867536",
"totalSuppliedTVL": "5214137.4042507943252884929464873447273005096718992",
"totalBorrows": "4425847.818323903198526453",
"totalBorrowedTVL": "4425321.00965808810432873239629941",
"utilization": "0.84871584052433517108",
"baseSupplyAPR": "3701052378",
"baseBorrowAPR": "5130314602",
"govSupplySpeed": "482915491071428571",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "19554233630952380",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
},
"ETH.wh": {
"price": "1793.09",
"totalSuppliedUnderlying": "1669.083221440808385247999999507151315116",
"totalSuppliedTVL": "2992816.43353329910750433631911627795162134844",
"totalBorrows": "272.552819692267281831",
"totalBorrowedTVL": "488711.73546200754037834779",
"utilization": "0.16329492513680089865",
"baseSupplyAPR": "196576046",
"baseBorrowAPR": "1605079859",
"govSupplySpeed": "509744129464285714",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "20640579943783068",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
},
"BTC.wh": {
"price": "34676.93522799",
"totalSuppliedUnderlying": "183.56803373999999903173828627",
"totalSuppliedTVL": "6365576.8159314628788062512692421943366973",
"totalBorrows": "36.83930969",
"totalBorrowedTVL": "1277474.3559639943662231",
"utilization": "0.2006847757718974203",
"baseSupplyAPR": "239127958",
"baseBorrowAPR": "1588746712",
"govSupplySpeed": "429258214285714285",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "17381541005291005",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
},
"USDC.wh": {
"price": "1.0001724",
"totalSuppliedUnderlying": "2841865.997491994952274773703474",
"totalSuppliedTVL": "2842355.9351899625722045458744604789176",
"totalBorrows": "1899994.405725",
"totalBorrowedTVL": "1900321.96476054699",
"utilization": "0.66857283468037692282",
"baseSupplyAPR": "752991005",
"baseBorrowAPR": "1325019093",
"govSupplySpeed": "375600937500000000",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "15208848379629629",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
},
"xcUSDC": {
"price": "1.0001724",
"totalSuppliedUnderlying": "0.06",
"totalSuppliedTVL": "0.060010344",
"totalBorrows": "0.01",
"totalBorrowedTVL": "0.010001724",
"utilization": "0.16666666666666666667",
"baseSupplyAPR": "164714752",
"baseBorrowAPR": "1162692371",
"govSupplySpeed": "0",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "0",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
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