MIP-M10 Rebalancing of Moonbeam Token Liquidity Incentives
This is an automated proposal generated by the Moonwell Market Reward Adjustment Tool.
- Submitter: Curly
- Generator Version: 1.0.22
- Generated At: Mon, 20 Nov 2023 15:36:10 GMT
- Network: Moonbeam
- Block Height: 4,910,250
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 386,391,736 WELL staked in the Safety Module, with a valuation of $2,047,300.90 (based on a WELL price of $0.005299 pulled from StellaSwap).
This proposal, if executed, would adjust the rewards on the Safety Module to keep emissions the same and emits 6,778,846 WELL over the next 28 days:
- Current (estimated APR =
~22.89%):
2.8021 WELL / second242,101.63 WELL / day6,778,845.72 WELL / reward cycle (28 days)
- Proposed (estimated APR =
~22.89%):
2.8021 WELL / second242,101.63 WELL / day6,778,845.72 WELL / reward cycle (28 days)
DEX Liquidity Pool Rewarder
At the time this proposal was generated there were 36,819,243 WELL and 759,780 GLMR provided by liquidity providers in the StellaSwap WELL/GLMR pool totaling $390,174.34.
This proposal, if executed, would adjust the rewards on the Dex Rewarder to keep emissions the same and emits 865,385 WELL over the next 28 days:
Current rewards will expire at Fri, 01 Dec 2023 03:30:00 GMT
Proposed rewards will expire at Fri, 29 Dec 2023 03:30:00 GMT
- Current (estimated APR =
~15.33%) days:
0.3577 WELL / second30,906.68 WELL / day865,387.00 WELL / reward cycle (28 days)
- Proposed (estimated APR =
~15.33%):
0.3577 WELL / second30,906.59 WELL / day865,384.56 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 |
$0.2568 |
| Supplied |
19,228,003.28 GLMR |
| Borrowed |
6,457,537.03 GLMR |
| Supplied TVL |
$4,937,135.95 |
| Borrowed TVL |
$1,658,088.87 |
| Utilization |
33.58% |
| WELL Incentive Share |
22% |
| GLMR Incentive Share |
22% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
6.98% |
7.79% |
| Borrow Side |
-7.29% |
-7.29% |
WELL Incentives
|
Current |
Proposed |
| Supply Side |
0.5324 WELL / sec |
0.6165 WELL / sec |
| +13.64% |
45,999.31 WELL / day |
53,262.36 WELL / day |
|
1,287,980.69 WELL / cycle* |
1,491,346.06 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 |
0.0239 GLMR / sec |
| +13.64% |
1,783.35 GLMR / day |
2,064.93 GLMR / day |
|
49,933.69 GLMR / cycle* |
57,817.96 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 |
$5.46 |
| Supplied |
871,006.09 xcDOT |
| Borrowed |
538,381.05 xcDOT |
| Supplied TVL |
$4,756,952.54 |
| Borrowed TVL |
$2,940,338.90 |
| Utilization |
61.81% |
| WELL Incentive Share |
21% |
| GLMR Incentive Share |
21% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
11.88% |
13.87% |
| Borrow Side |
-17.86% |
-17.86% |
WELL Incentives
|
Current |
Proposed |
| Supply Side |
0.3923 WELL / sec |
0.5884 WELL / sec |
| +33.33% |
33,894.23 WELL / day |
50,841.34 WELL / day |
|
949,038.40 WELL / cycle* |
1,423,557.60 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 |
0.0228 GLMR / sec |
| +33.33% |
1,314.04 GLMR / day |
1,971.07 GLMR / day |
|
36,793.25 GLMR / cycle* |
55,189.87 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 |
1,431,154.97 xcUSDT |
| Borrowed |
1,171,096.30 xcUSDT |
| Supplied TVL |
$1,431,941.83 |
| Borrowed TVL |
$1,171,740.18 |
| Utilization |
81.83% |
| WELL Incentive Share |
6% |
| GLMR Incentive Share |
6% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
14.41% |
12.53% |
| Borrow Side |
-10.04% |
-10.04% |
WELL Incentives
|
Current |
Proposed |
| Supply Side |
0.2242 WELL / sec |
0.1681 WELL / sec |
| -33.33% |
19,368.13 WELL / day |
14,526.10 WELL / day |
|
542,307.66 WELL / cycle* |
406,730.74 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 |
0.0087 GLMR / sec |
0.0065 GLMR / sec |
| -33.33% |
750.88 GLMR / day |
563.16 GLMR / day |
|
21,024.71 GLMR / cycle* |
15,768.53 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 |
3,756,281.82 FRAX |
| Borrowed |
3,296,183.58 FRAX |
| Supplied TVL |
$3,752,969.75 |
| Borrowed TVL |
$3,293,277.21 |
| Utilization |
87.75% |
| WELL Incentive Share |
16% |
| GLMR Incentive Share |
16% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
25.87% |
24.79% |
| Borrow Side |
-26.33% |
-26.33% |
WELL Incentives
|
Current |
Proposed |
| Supply Side |
0.5324 WELL / sec |
0.4483 WELL / sec |
| -18.75% |
45,999.31 WELL / day |
38,736.26 WELL / day |
|
1,287,980.69 WELL / cycle* |
1,084,615.32 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 |
0.0206 GLMR / sec |
0.0174 GLMR / sec |
| -18.75% |
1,783.35 GLMR / day |
1,501.77 GLMR / day |
|
49,933.69 GLMR / cycle* |
42,049.42 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 |
$2,041.43 |
| Supplied |
1,185.84 ETH.wh |
| Borrowed |
223.26 ETH.wh |
| Supplied TVL |
$2,420,801.63 |
| Borrowed TVL |
$455,766.82 |
| Utilization |
18.83% |
| WELL Incentive Share |
10% |
| GLMR Incentive Share |
10% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
9.14% |
6.35% |
| Borrow Side |
-5.69% |
-5.69% |
WELL Incentives
|
Current |
Proposed |
| Supply Side |
0.4203 WELL / sec |
0.2802 WELL / sec |
| -50.00% |
36,315.24 WELL / day |
24,210.16 WELL / day |
|
1,016,826.86 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 |
0.0163 GLMR / sec |
0.0109 GLMR / sec |
| -50.00% |
1,407.90 GLMR / day |
938.60 GLMR / day |
|
39,421.33 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
BTC.wh Market
|
|
| Latest price |
$37,407.55 |
| Supplied |
143.47 BTC.wh |
| Borrowed |
0.0046 BTC.wh |
| Supplied TVL |
$5,366,680.11 |
| Borrowed TVL |
$173.04 |
| Utilization |
0.0032% |
| WELL Incentive Share |
15% |
| GLMR Incentive Share |
15% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
3.77% |
3.77% |
| Borrow Side |
-2.02% |
-2.02% |
WELL Incentives
|
Current |
Proposed |
| Supply Side |
0.4203 WELL / sec |
0.4203 WELL / sec |
| +0.00% |
36,315.24 WELL / day |
36,315.24 WELL / day |
|
1,016,826.86 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 |
0.0163 GLMR / sec |
0.0163 GLMR / sec |
| +0.00% |
1,407.90 GLMR / day |
1,407.90 GLMR / day |
|
39,421.33 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 |
1,630,074.30 USDC.wh |
| Borrowed |
1,324,836.09 USDC.wh |
| Supplied TVL |
$1,630,121.40 |
| Borrowed TVL |
$1,324,874.36 |
| Utilization |
81.27% |
| WELL Incentive Share |
10% |
| GLMR Incentive Share |
10% |
| Estimated APRs |
Current |
Proposed |
| Supply Side |
14.99% |
14.99% |
| Borrow Side |
-9.88% |
-9.88% |
WELL Incentives
|
Current |
Proposed |
| Supply Side |
0.2802 WELL / sec |
0.2802 WELL / sec |
| +0.00% |
24,210.16 WELL / day |
24,210.16 WELL / day |
|
677,884.57 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 |
0.0109 GLMR / sec |
0.0109 GLMR / sec |
| +0.00% |
938.60 GLMR / day |
938.60 GLMR / day |
|
26,280.89 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
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: e5b6c944061d3040d50424f101775b582937625882331772c61ab6ada136c897
Proposal Config
{
"_meta": {
"generatedAt": "2023-11-20T15:23:49.655Z",
"generatorVersion": "1.0.22"
},
"snapshotBlock": 4910250,
"safetyModuleInfo": {
"totalStaked": "386391736.016452890176464999",
"stakedTVL": "2047300.89762799111969296854069281118515635326495232",
"govTokenPrice": "0.00529851108808604358624768",
"emissions": {
"emissionsPerSecond": "2.802102232142857142",
"lastUpdateTimestamp": 1700493720,
"emissionAPR": "22.88548464124142264",
"emissionsPerYear": "88427621.4010714285443792"
}
},
"dexInfo": {
"govTokenTotal": "36819243.34317231027073357",
"nativeAssetTotal": "759779.914587241146734255",
"govTokenPrice": "0.00529851108808604358624768",
"nextFreeSlot": 20,
"emissionsPerYear": "11288664.3482142857044344",
"poolTVL": "390174.3382174734695688918547616596250212373106176",
"currentPoolAPR": "15.329842934303040109",
"currentPoolRewardInfo": {
"startTimestamp": 1698982200,
"endTimestamp": 1701401400,
"rewardPerSec": "0.357716187169312169"
}
},
"marketData": {
"assets": {
"GLMR": {
"price": "0.256768",
"totalSuppliedUnderlying": "19228003.28481560682283333699223155974552872",
"totalSuppliedTVL": "4937135.94743553373268527027282131313273991837696",
"totalBorrows": "6457537.031807720337045071",
"totalBorrowedTVL": "1658088.868583204735502388790528",
"utilization": "0.33584022928201028669",
"baseSupplyAPR": "562098161",
"baseBorrowAPR": "2231609410",
"govSupplySpeed": "532399423826932633",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "20640579932919605",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
},
"xcDOT": {
"price": "5.46144577",
"totalSuppliedUnderlying": "871006.092973451399700145760992068",
"totalSuppliedTVL": "4756952.54211408286919294033475356078215236",
"totalBorrows": "538381.0490575022",
"totalBorrowedTVL": "2940338.903023257876955694",
"utilization": "0.61811398726221340129",
"baseSupplyAPR": "2415859618",
"baseBorrowAPR": "5211249421",
"govSupplySpeed": "392294312500000000",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "15208848379629629",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
},
"xcUSDT": {
"price": "1.00054981",
"totalSuppliedUnderlying": "1431154.96702699954848214734819",
"totalSuppliedTVL": "1431941.8303394206631038983176235083439",
"totalBorrows": "1171096.298838",
"totalBorrowedTVL": "1171740.17929406412078",
"utilization": "0.81828755503030483874",
"baseSupplyAPR": "2111134521",
"baseBorrowAPR": "3035226012",
"govSupplySpeed": "224168178571428571",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "8690770502645502",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
},
"FRAX": {
"price": "0.99911826",
"totalSuppliedUnderlying": "3756281.8187003818088211619928987989219155",
"totalSuppliedTVL": "3752969.75476956093416505202152318033495409022703",
"totalBorrows": "3296183.583785975201196862",
"totalBorrowedTVL": "3293277.20687280775542295867890012",
"utilization": "0.87751232279116005702",
"baseSupplyAPR": "5529354010",
"baseBorrowAPR": "7413140758",
"govSupplySpeed": "532399424107142857",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "20640579943783068",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
},
"ETH.wh": {
"price": "2041.4289",
"totalSuppliedUnderlying": "1185.836858902439852001999997406004932904",
"totalSuppliedTVL": "2420801.6344486629943886056525045435035727865256",
"totalBorrows": "223.258728975524261338",
"totalBorrowedTVL": "455766.8215079026197465458682",
"utilization": "0.18827103180294382388",
"baseSupplyAPR": "247610876",
"baseBorrowAPR": "1753577449",
"govSupplySpeed": "420315334821428571",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "16295194692460317",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
},
"BTC.wh": {
"price": "37407.545",
"totalSuppliedUnderlying": "143.46517825999999463012429588",
"totalSuppliedTVL": "5366680.1116939714991261329537244146",
"totalBorrows": "0.00462586",
"totalBorrowedTVL": "173.0420661137",
"utilization": "0.00003224378247114862",
"baseSupplyAPR": "15340",
"baseBorrowAPR": "634349205",
"govSupplySpeed": "420315334821428571",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "16295194692460317",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
},
"USDC.wh": {
"price": "1.00002889",
"totalSuppliedUnderlying": "1630074.303307992147734727408",
"totalSuppliedTVL": "1630121.39615461471562787546427481712",
"totalBorrows": "1324836.089028",
"totalBorrowedTVL": "1324874.36354261201892",
"utilization": "0.8127458278064031704",
"baseSupplyAPR": "2063791895",
"baseBorrowAPR": "2987392100",
"govSupplySpeed": "280210223214285714",
"govBorrowSpeed": "1",
"nativeSupplySpeed": "10863463128306878",
"nativeBorrowSpeed": "1",
"nativeSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
},
"govSupplyBorrowSplit": {
"SUPPLY": 1,
"BORROW": 0
}
}
},
"totalTVL": "24296603.21695584740828977501722533781731915512959",
"govRewardSplits": {
"GLMR": 0.22,
"xcDOT": 0.21,
"xcUSDT": 0.06,
"FRAX": 0.16,
"ETH.wh": 0.1,
"BTC.wh": 0.15,
"USDC.wh": 0.1
},
"nativeRewardSplits": {
"GLMR": 0.22,
"xcDOT": 0.21,
"xcUSDT": 0.06,
"FRAX": 0.16,
"ETH.wh": 0.1,
"BTC.wh": 0.15,
"USDC.wh": 0.1
}
},
"config": {
"daysPerRewardCycle": 28,
"rpc": "https://rpc.api.moonbeam.network",
"govTokenName": "WELL",
"nativeTokenName": "GLMR",
"networkName": "Moonbeam",
"govTokenUniPoolAddress": "0xb536c1f9a157b263b70a9a35705168acc0271742",
"dexName": "StellaSwap",
"ecosystemReserve": "0x7793E08Eb4525309C46C9BA394cE33361A167ba4",
"treasuryAddress": "0x6972f25AB3FC425EaF719721f0EBD1Cdb58eE451",
"dexPoolID": 15,
"submissionRewardAmount": 50000
},
"responses": {
"name": "Curly",
"network": "Moonbeam",
"mipNumber": "M10",
"componentSplits": {
"ALL_MARKETS": 0.47,
"SAFETY_MODULE": 0.47,
"DEX_REWARDER": 0.06
},
"emissionAmounts": {
"0": 14423076,
"1": 262808.9
},
"submitterWallet": "0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36"
}
}