# MIP-M15 Rebalancing of Moonbeam Token Liquidity Incentives

**URL:** <https://forum.moonwell.fi/t/mip-m15-rebalancing-of-moonbeam-token-liquidity-incentives/758>\
**Category:** Proposals\
**Tags:** mip, moonbeam\
**Created:** [January 16, 2024, 10:29pm UTC](https://forum.moonwell.fi/t/mip-m15-rebalancing-of-moonbeam-token-liquidity-incentives/758 "2024-01-16T22:29:19Z")\
**Posts on this page:** 2\
**Page:** 1

<div class="post-metadata">

**Author:** ![Curly](https://avatars.discourse-cdn.com/v4/letter/c/91b2a8/32.png) [@Curly](https://forum.moonwell.fi/u/Curly)\
**Post date:** [January 16, 2024, 10:29pm UTC](https://forum.moonwell.fi/t/mip-m15-rebalancing-of-moonbeam-token-liquidity-incentives/758/1 "2024-01-16T22:29:20Z")

</div>

# MIP-M15 Rebalancing of Moonbeam Token Liquidity Incentives

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

- **Submitter** : Curly
- **Generator Version** : 1.0.24
- **Generated At** : Tue, 16 Jan 2024 22:15:10 GMT
- **Network** : Moonbeam
- **Block Height** : 5,315,079

The submitter (`Curly`), as part of this proposal, will get `80,000 WELL` sent to their wallet at `0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36`.

# Safety Module

At the time this proposal was generated there was `394,443,502` **WELL** staked in the **Safety Module** , with a valuation of `$2,715,598.74` (based on a **WELL** price of `$0.006885` 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 = `~22.42%`):
  - `2.8021` WELL / **second**
  - `242,101.63` WELL / **day**
  - `6,778,845.72` WELL / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~22.42%`):
  - `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 `23,447,373` **WELL** and `385,952` **GLMR** provided by liquidity providers in the **StellaSwap**  **WELL** / **GLMR** pool totaling `$322,853.11`.

This proposal, if executed, would adjust the rewards on the **Dex Rewarder** to decrease emissions -16.67% and emits `721,154` **WELL** over the next **28 days** :

Current rewards will expire at **Fri, 26 Jan 2024 03:30:00 GMT**

Proposed rewards will expire at **Fri, 23 Feb 2024 03:30:00 GMT**

- Current (estimated APR = `~24.07%`) days:
  - `0.3577` WELL / **second**
  - `30,906.68` WELL / **day**
  - `865,387.00` WELL / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~20.06%`):
  - `0.2981` WELL / **second**
  - `25,755.49` WELL / **day**
  - `721,153.80` 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 | **$0.4183** |
| Supplied | **21,150,254.87** GLMR |
| Borrowed | **6,018,572.19** GLMR |
| Supplied TVL | **$8,846,216.77** |
| Borrowed TVL | **$2,517,302.72** |
| Utilization | **28.46%** |
| WELL Incentive Share | **28%** |
| GLMR Incentive Share | **28%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **7.12%** | **5.13%** |
| Borrow Side | **-6.47%** | **-6.47%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.7005** WELL / sec | **0.8013** WELL / sec |
| +12.57% | **60,525.41** WELL / day | **69,230.76** WELL / day |
| | **1,694,711.43** WELL / cycle\* | **1,938,461.41** 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** | **0.0272** GLMR / sec | **0.0122** GLMR / sec |
| -123.21% | **2,346.51** GLMR / day | **1,051.24** GLMR / day |
| | **65,702.22** GLMR / cycle\* | **29,434.65** 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 | **$7.48** |
| Supplied | **959,577.64** xcDOT |
| Borrowed | **521,681.12** xcDOT |
| Supplied TVL | **$7,181,447.71** |
| Borrowed TVL | **$3,904,244.45** |
| Utilization | **54.37%** |
| WELL Incentive Share | **25%** |
| GLMR Incentive Share | **25%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **11.33%** | **8.39%** |
| Borrow Side | **-10.69%** | **-10.69%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.7005** WELL / sec | **0.7154** WELL / sec |
| +2.08% | **60,525.41** WELL / day | **61,813.18** WELL / day |
| | **1,694,711.43** WELL / cycle\* | **1,730,769.12** 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** | **0.0272** GLMR / sec | **0.0109** GLMR / sec |
| -150.00% | **2,346.51** GLMR / day | **938.61** GLMR / day |
| | **65,702.22** GLMR / cycle\* | **26,280.94** 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 | **1,352,956.02** xcUSDT |
| Borrowed | **1,084,308.73** xcUSDT |
| Supplied TVL | **$1,351,946.32** |
| Borrowed TVL | **$1,083,499.52** |
| Utilization | **80.14%** |
| WELL Incentive Share | **6%** |
| GLMR Incentive Share | **6%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **13.56%** | **9.80%** |
| Borrow Side | **-7.10%** | **-7.10%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.1681** WELL / sec | **0.1717** WELL / sec |
| +2.08% | **14,526.10** WELL / day | **14,835.16** WELL / day |
| | **406,730.74** WELL / cycle\* | **415,384.59** 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** | **0.0065** GLMR / sec | **0.0026** GLMR / sec |
| -150.00% | **563.16** GLMR / day | **225.27** GLMR / day |
| | **15,768.53** GLMR / cycle\* | **6,307.43** 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 | **$0.9995** |
| Supplied | **3,104,236.21** FRAX |
| Borrowed | **3,296,041.54** FRAX |
| Supplied TVL | **$3,102,542.94** |
| Borrowed TVL | **$3,294,243.65** |
| Utilization | **106.18%** |
| WELL Incentive Share | **16%** |
| GLMR Incentive Share | **16%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **14.12%** | **7.12%** |
| Borrow Side | **-1.07%** | **-1.07%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.5604** WELL / sec | **0.4579** WELL / sec |
| -22.40% | **48,420.33** WELL / day | **39,560.44** WELL / day |
| | **1,355,769.14** WELL / cycle\* | **1,107,692.24** 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** | **0.0217** GLMR / sec | **0.0070** GLMR / sec |
| -212.50% | **1,877.21** GLMR / day | **600.71** GLMR / day |
| | **52,561.78** GLMR / cycle\* | **16,819.80** 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 | **$2,577.80** |
| Supplied | **857.37** ETH.wh |
| Borrowed | **82.26** ETH.wh |
| Supplied TVL | **$2,210,117.48** |
| Borrowed TVL | **$212,039.30** |
| Utilization | **9.59%** |
| WELL Incentive Share | **4%** |
| GLMR Incentive Share | **4%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **6.74%** | **2.44%** |
| Borrow Side | **-3.87%** | **-3.87%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.1961** WELL / sec | **0.1145** WELL / sec |
| -71.35% | **16,947.11** WELL / day | **9,890.11** WELL / day |
| | **474,519.20** WELL / cycle\* | **276,923.06** 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** | **0.0076** GLMR / sec | **0.0017** GLMR / sec |
| -337.50% | **657.02** GLMR / day | **150.18** GLMR / day |
| | **18,396.62** GLMR / cycle\* | **4,204.95** 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 | **$43,265.74** |
| Supplied | **136.46** BTC.wh |
| Borrowed | **1.51** BTC.wh |
| Supplied TVL | **$5,904,159.30** |
| Borrowed TVL | **$65,195.62** |
| Utilization | **1.10%** |
| WELL Incentive Share | **10%** |
| GLMR Incentive Share | **10%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **2.09%** | **2.04%** |
| Borrow Side | **-2.19%** | **-2.19%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.1681** WELL / sec | **0.2862** WELL / sec |
| +41.25% | **14,526.10** WELL / day | **24,725.27** WELL / day |
| | **406,730.74** WELL / cycle\* | **692,307.65** 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** | **0.0065** GLMR / sec | **0.0043** GLMR / sec |
| -50.00% | **563.16** GLMR / day | **375.44** GLMR / day |
| | **15,768.53** GLMR / cycle\* | **10,512.38** 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 | **2,665,760.91** USDC.wh |
| Borrowed | **2,131,344.04** USDC.wh |
| Supplied TVL | **$2,666,560.64** |
| Borrowed TVL | **$2,131,983.45** |
| Utilization | **79.95%** |
| WELL Incentive Share | **11%** |
| GLMR Incentive Share | **11%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **12.33%** | **8.84%** |
| Borrow Side | **-6.18%** | **-6.18%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.3082** WELL / sec | **0.3148** WELL / sec |
| +2.08% | **26,631.18** WELL / day | **27,197.80** WELL / day |
| | **745,673.03** WELL / cycle\* | **761,538.41** 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** | **0.0119** GLMR / sec | **0.0048** GLMR / sec |
| -150.00% | **1,032.46** GLMR / day | **412.99** GLMR / day |
| | **28,908.98** GLMR / cycle\* | **11,563.61** 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 | **0.0602** xcUSDC |
| Borrowed | **0.0302** xcUSDC |
| Supplied TVL | **$0.0602** |
| Borrowed TVL | **$0.0302** |
| Utilization | **50.18%** |
| WELL Incentive Share | **0%** |
| GLMR Incentive Share | **0%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **1.86%** | **1.52%** |
| Borrow Side | **-3.83%** | **-3.83%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0** WELL / sec | **0** WELL / sec |
| +0% | **0.0000** WELL / day | **0** WELL / day |
| | **0.0007** WELL / cycle\* | **0** 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 |
| +0% | **0.0000** GLMR / day | **0** GLMR / day |
| | **0.0000** GLMR / cycle\* | **0** 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.

* * *

Config Hash: `cebd2a716e1f413321f766564a9381c9213b03791dea78ad827f3cb15dcf9064`

> **Proposal Config**
>
> ```
> {
> "_meta": {
> "generatedAt": "2024-01-16T20:15:47.906Z",
> "generatorVersion": "1.0.24"
> },
> "snapshotBlock": 5315079,
> "safetyModuleInfo": {
> "totalStaked": "394443501.543324438121085717",
> "stakedTVL": "2715598.739148748006056781095056733936170752104859362",
> "govTokenPrice": "0.006884632979180860330548186",
> "emissions": {
> "emissionsPerSecond": "2.802102232142857142",
> "lastUpdateTimestamp": 1705436076,
> "emissionAPR": "22.418323804317718166",
> "emissionsPerYear": "88427621.4010714285443792"
> }
> },
> "dexInfo": {
> "govTokenTotal": "23447372.985234658426278314",
> "nativeAssetTotal": "385951.748497691864887894",
> "govTokenPrice": "0.006884632979180860330548186",
> "nextFreeSlot": 22,
> "emissionsPerYear": "11288664.3482142857044344",
> "poolTVL": "322853.114658601818186130083139815229005951423838404",
> "currentPoolAPR": "24.072343531454490015",
> "currentPoolRewardInfo": {
> "startTimestamp": 1703820600,
> "endTimestamp": 1706239800,
> "rewardPerSec": "0.357716187169312169"
> }
> },
> "marketData": {
> "assets": {
> "GLMR": {
> "price": "0.4182558",
> "totalSuppliedUnderlying": "21150254.867823527040206790902565279021934128",
> "totalSuppliedTVL": "8846216.7699454235610233234943851628295422762539424",
> "totalBorrows": "6018572.186852749126127007",
> "totalBorrowedTVL": "2517302.7248698460679475522143906",
> "utilization": "0.28456263172549144792",
> "baseSupplyAPR": "424220802",
> "baseBorrowAPR": "1987709117",
> "govSupplySpeed": "700525558035714285",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "27158657820767195",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "xcDOT": {
> "price": "7.48396735",
> "totalSuppliedUnderlying": "959577.6371488991998924905588405024",
> "totalSuppliedTVL": "7181447.70621250870043652285254557381919664",
> "totalBorrows": "521681.1180881482",
> "totalBorrowedTVL": "3904244.45488319555076127",
> "utilization": "0.54365701939258313999",
> "baseSupplyAPR": "1312965743",
> "baseBorrowAPR": "3220083488",
> "govSupplySpeed": "700525558035714285",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "27158657820767195",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "xcUSDT": {
> "price": "0.99925371",
> "totalSuppliedUnderlying": "1352956.018607997047506639876662",
> "totalSuppliedTVL": "1351946.32106087008539005614638844591602",
> "totalBorrows": "1084308.727457",
> "totalBorrowedTVL": "1083499.51869678611547",
> "utilization": "0.80143678918151558007",
> "baseSupplyAPR": "1395108613",
> "baseBorrowAPR": "2175949234",
> "govSupplySpeed": "168126133928571428",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "6518077876984126",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "FRAX": {
> "price": "0.99945453",
> "totalSuppliedUnderlying": "3104236.21000355802874512099915248183937684",
> "totalSuppliedTVL": "3102542.9422780873879471813980010741351079151150852",
> "totalBorrows": "3296041.541495758911066427",
> "totalBorrowedTVL": "3294243.64971611921945320759606431",
> "utilization": "1.06178825273479463663",
> "baseSupplyAPR": "303870226",
> "baseBorrowAPR": "336690845",
> "govSupplySpeed": "560420446428571428",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "21726926256613756",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
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> "BORROW": 0
> }
> },
> "ETH.wh": {
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> "totalBorrows": "82.255908083921283497",
> "totalBorrowedTVL": "212039.3045355047097749516491",
> "utilization": "0.09594028669446308156",
> "baseSupplyAPR": "86678479",
> "baseBorrowAPR": "1204617064",
> "govSupplySpeed": "196147156250000000",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "7604424189814814",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
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> },
> "govSupplyBorrowSplit": {
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> }
> },
> "BTC.wh": {
> "price": "43265.735",
> "totalSuppliedUnderlying": "136.46270661999999915325099862",
> "totalSuppliedTVL": "5904159.3020036656633647820947782857",
> "totalBorrows": "1.50686489",
> "totalBorrowedTVL": "65195.61701154415",
> "utilization": "0.01104232011311399277",
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> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "6518077876984126",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
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> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "USDC.wh": {
> "price": "1.0003",
> "totalSuppliedUnderlying": "2665760.909252990526166961245957",
> "totalSuppliedTVL": "2666560.6375257664233248113343307871",
> "totalBorrows": "2131344.043994",
> "totalBorrowedTVL": "2131983.4472071982",
> "utilization": "0.79952558258169266379",
> "baseSupplyAPR": "1216212246",
> "baseBorrowAPR": "1901459242",
> "govSupplySpeed": "308231245535714285",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "11949809441137566",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "xcUSDC": {
> "price": "1.0003",
> "totalSuppliedUnderlying": "0.060162",
> "totalSuppliedTVL": "0.0601800486",
> "totalBorrows": "0.030188",
> "totalBorrowedTVL": "0.0301970564",
> "utilization": "0.50177853129882650178",
> "baseSupplyAPR": "479036708",
> "baseBorrowAPR": "1193346963",
> "govSupplySpeed": "280210223",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "10863463",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> }
> },
> "totalTVL": "31262991.2179124451031240257369401298062319645254276",
> "govRewardSplits": {
> "GLMR": 0.28,
> "xcDOT": 0.25,
> "xcUSDT": 0.06,
> "FRAX": 0.16,
> "ETH.wh": 0.04,
> "BTC.wh": 0.1,
> "USDC.wh": 0.11,
> "xcUSDC": 0
> },
> "nativeRewardSplits": {
> "GLMR": 0.28,
> "xcDOT": 0.25,
> "xcUSDT": 0.06,
> "FRAX": 0.16,
> "ETH.wh": 0.04,
> "BTC.wh": 0.1,
> "USDC.wh": 0.11,
> "xcUSDC": 0
> }
> },
> "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": 80000
> },
> "responses": {
> "name": "Curly",
> "network": "Moonbeam",
> "mipNumber": "M15",
> "componentSplits": {
> "ALL_MARKETS": 0.48,
> "SAFETY_MODULE": 0.47,
> "DEX_REWARDER": 0.05
> },
> "emissionAmounts": {
> "0": 14423076,
> "1": 105123.76
> },
> "submitterWallet": "0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36"
> }
> }
> ```

---

<div class="post-metadata">

**Author:** ![Curly](https://avatars.discourse-cdn.com/v4/letter/c/91b2a8/32.png) [@Curly](https://forum.moonwell.fi/u/Curly)\
**Post date:** [January 16, 2024, 10:43pm UTC](https://forum.moonwell.fi/t/mip-m15-rebalancing-of-moonbeam-token-liquidity-incentives/758/2 "2024-01-16T22:43:34Z")

</div>

Hey folks, I have just put both the Moonwell Artemis and Apollo Reward Adjustment proposals up for a vote. You will undoubtedly notice that the rewards across all pools are being cut, and I just wanted to provide a bit of context as to why.

As you may know, we have received grant funding from the Moonbeam Foundation in the form of GLMR and MOVR, which we then pass on to the community in the form of boosted Supply-side rewards. With the last tranche of these rewards coming to an end, naturally, we would be applying for a top-up grant, but it seems that the Moonbeam Ecosystem is in the midst of a transition to a new governance mechanism (Gov 2.0), and as a result they have requested that we hold off on requesting more funds until that has been sorted out.

So rather than apply the usual amount of rewards to the adjustment, I have opted to reduce the overall GLMR/MOVR so that we can make the last bit of grant funding last us a few more months (until June), when they will hopefully have the new governance mechanism up and running and we can secure a new tranche of funds.

I understand this may seem abrupt and the sudden drop of rewards, may require you to adjust your positions, but I did my best to spread these reductions out while also taking into consideration the current market dynamics to balance things out.