# MIP-M18 Rebalancing of Moonbeam Token Liquidity Incentives

**URL:** <https://forum.moonwell.fi/t/mip-m18-rebalancing-of-moonbeam-token-liquidity-incentives/790>\
**Category:** Proposals\
**Tags:** mip, moonbeam\
**Created:** [February 13, 2024, 11:12pm UTC](https://forum.moonwell.fi/t/mip-m18-rebalancing-of-moonbeam-token-liquidity-incentives/790 "2024-02-13T23:12:02Z")\
**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:** [February 13, 2024, 11:12pm UTC](https://forum.moonwell.fi/t/mip-m18-rebalancing-of-moonbeam-token-liquidity-incentives/790/1 "2024-02-13T23:12:02Z")

</div>

# MIP-M18 Rebalancing of Moonbeam Token Liquidity Incentives

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

- **Submitter** : Curly
- **Generator Version** : 1.0.25
- **Generated At** : Tue, 13 Feb 2024 23:02:23 GMT
- **Network** : Moonbeam
- **Block Height** : 5,514,132

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 `421,971,936` **WELL** staked in the **Safety Module** , with a valuation of `$2,579,031.58` (based on a **WELL** price of `$0.006112` 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 = `~20.96%`):
  - `2.8021` WELL / **second**
  - `242,101.63` WELL / **day**
  - `6,778,845.72` WELL / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~20.96%`):
  - `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 `24,321,848` **WELL** and `373,969` **GLMR** provided by liquidity providers in the **StellaSwap**  **WELL** / **GLMR** pool totaling `$297,303.25`.

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

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

Proposed rewards will expire at **Fri, 22 Mar 2024 03:30:00 GMT**

- Current (estimated APR = `~19.34%`) days:
  - `0.2981` WELL / **second**
  - `25,755.57` WELL / **day**
  - `721,156.00` WELL / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~19.34%`):
  - `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 | **$0.3975** |
| Supplied | **19,421,811.64** GLMR |
| Borrowed | **6,329,673.04** GLMR |
| Supplied TVL | **$7,720,109.92** |
| Borrowed TVL | **$2,516,025.41** |
| Utilization | **32.59%** |
| WELL Incentive Share | **28%** |
| GLMR Incentive Share | **28%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **5.67%** | **5.67%** |
| Borrow Side | **-7.13%** | **-7.13%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.8013** WELL / sec | **0.8013** WELL / sec |
| +0.00% | **69,230.76** WELL / day | **69,230.76** WELL / day |
| | **1,938,461.41** 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** | **0.0122** GLMR / sec | **0.0122** GLMR / sec |
| +0.00% | **1,051.24** GLMR / day | **1,051.24** GLMR / day |
| | **29,434.65** 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 | **$7.31** |
| Supplied | **836,605.14** xcDOT |
| Borrowed | **522,611.65** xcDOT |
| Supplied TVL | **$6,115,087.89** |
| Borrowed TVL | **$3,819,981.51** |
| Utilization | **62.47%** |
| WELL Incentive Share | **25%** |
| GLMR Incentive Share | **25%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **13.49%** | **13.49%** |
| Borrow Side | **-20.20%** | **-20.20%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.7154** WELL / sec | **0.7154** WELL / sec |
| +0.00% | **61,813.18** WELL / day | **61,813.18** WELL / day |
| | **1,730,769.12** 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** | **0.0109** GLMR / sec | **0.0109** GLMR / sec |
| +0.00% | **938.60** GLMR / day | **938.61** GLMR / day |
| | **26,280.94** 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 | **$1.00** |
| Supplied | **982,287.96** xcUSDT |
| Borrowed | **802,747.49** xcUSDT |
| Supplied TVL | **$982,513.88** |
| Borrowed TVL | **$802,932.12** |
| Utilization | **81.72%** |
| WELL Incentive Share | **6%** |
| GLMR Incentive Share | **6%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **19.60%** | **19.60%** |
| Borrow Side | **-20.40%** | **-20.40%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.1717** WELL / sec | **0.1717** WELL / sec |
| +0.00% | **14,835.16** WELL / day | **14,835.16** WELL / day |
| | **415,384.59** 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** | **0.0026** GLMR / sec | **0.0026** GLMR / sec |
| +0.00% | **225.27** GLMR / day | **225.27** GLMR / day |
| | **6,307.43** 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 | **$0.9982** |
| Supplied | **3,024,230.75** FRAX |
| Borrowed | **3,216,397.89** FRAX |
| Supplied TVL | **$3,018,668.67** |
| Borrowed TVL | **$3,210,482.39** |
| Utilization | **106.35%** |
| WELL Incentive Share | **16%** |
| GLMR Incentive Share | **16%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **6.78%** | **6.78%** |
| Borrow Side | **-1.07%** | **-1.07%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.4579** WELL / sec | **0.4579** WELL / sec |
| +0.00% | **39,560.44** WELL / day | **39,560.44** WELL / day |
| | **1,107,692.24** 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** | **0.0070** GLMR / sec | **0.0070** GLMR / sec |
| +0.00% | **600.71** GLMR / day | **600.71** GLMR / day |
| | **16,819.80** 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 | **$2,635.62** |
| Supplied | **271.18** ETH.wh |
| Borrowed | **14.83** ETH.wh |
| Supplied TVL | **$714,731.45** |
| Borrowed TVL | **$39,080.05** |
| Utilization | **5.47%** |
| WELL Incentive Share | **4%** |
| GLMR Incentive Share | **4%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **6.26%** | **6.26%** |
| Borrow Side | **-3.07%** | **-3.07%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.1145** WELL / sec | **0.1145** WELL / sec |
| +0.00% | **9,890.11** WELL / day | **9,890.11** WELL / day |
| | **276,923.06** 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** | **0.0017** GLMR / sec | **0.0017** GLMR / sec |
| +0.00% | **150.18** GLMR / day | **150.18** GLMR / day |
| | **4,204.95** 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 | **$49,495.78** |
| Supplied | **130.16** BTC.wh |
| Borrowed | **0.0918** BTC.wh |
| Supplied TVL | **$6,442,379.69** |
| Borrowed TVL | **$4,542.14** |
| Utilization | **0.0705%** |
| WELL Incentive Share | **10%** |
| GLMR Incentive Share | **10%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **1.70%** | **1.70%** |
| Borrow Side | **-2.03%** | **-2.03%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.2862** WELL / sec | **0.2862** WELL / sec |
| +0.00% | **24,725.27** WELL / day | **24,725.27** WELL / day |
| | **692,307.65** 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** | **0.0043** GLMR / sec | **0.0043** GLMR / sec |
| +0.00% | **375.44** GLMR / day | **375.44** GLMR / day |
| | **10,512.38** 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 | **$1.0000** |
| Supplied | **2,008,695.17** USDC.wh |
| Borrowed | **1,626,821.89** USDC.wh |
| Supplied TVL | **$2,008,618.84** |
| Borrowed TVL | **$1,626,760.07** |
| Utilization | **80.99%** |
| WELL Incentive Share | **6%** |
| GLMR Incentive Share | **6%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **15.10%** | **12.37%** |
| Borrow Side | **-14.38%** | **-14.38%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.3148** WELL / sec | **0.1717** WELL / sec |
| -83.33% | **27,197.80** WELL / day | **14,835.16** WELL / day |
| | **761,538.41** 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** | **0.0048** GLMR / sec | **0.0026** GLMR / sec |
| -83.33% | **412.99** GLMR / day | **225.27** GLMR / day |
| | **11,563.61** 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

* * *

# xcUSDC Market

| | |
| --- | --- |
| Latest price | **$1.0000** |
| Supplied | **20,078.28** xcUSDC |
| Borrowed | **16,207.27** xcUSDC |
| Supplied TVL | **$20,077.52** |
| Borrowed TVL | **$16,206.65** |
| Utilization | **80.72%** |
| WELL Incentive Share | **5%** |
| GLMR Incentive Share | **5%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **7.75%** | **280.76%** |
| Borrow Side | **-12.25%** | **-12.25%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0** WELL / sec | **0.1431** WELL / sec |
| +100.00% | **0** WELL / day | **12,362.64** WELL / day |
| | **0** WELL / cycle\* | **346,153.82** 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 | **0.0022** GLMR / sec |
| +100.00% | **0** GLMR / day | **187.72** GLMR / day |
| | **0** GLMR / cycle\* | **5,256.19** 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: `c3f10998bf1a6f686564b3ca23f706e485cbf26318e6aca36c2f8e0256259459`

> **Proposal Config**
>
> ```
> {
> "_meta": {
> "generatedAt": "2024-02-13T22:52:41.227Z",
> "generatorVersion": "1.0.25"
> },
> "snapshotBlock": 5514132,
> "safetyModuleInfo": {
> "totalStaked": "421971935.905401649604097557",
> "stakedTVL": "2579031.58205728842331285593590071257661965962127119",
> "govTokenPrice": "0.00611185570083850289624467",
> "emissions": {
> "emissionsPerSecond": "2.802102232142857142",
> "lastUpdateTimestamp": 1707861462,
> "emissionAPR": "20.95580626975517054",
> "emissionsPerYear": "88427621.4010714285443792"
> }
> },
> "dexInfo": {
> "govTokenTotal": "24321847.939708406636766841",
> "nativeAssetTotal": "373969.268654004651007968",
> "govTokenPrice": "0.00611185570083850289624467",
> "nextFreeSlot": 23,
> "emissionsPerYear": "9407222.4642857142733584",
> "poolTVL": "297303.24997046804274155836093192677210708927898747",
> "currentPoolAPR": "19.339037246687302849",
> "currentPoolRewardInfo": {
> "startTimestamp": 1706239800,
> "endTimestamp": 1708659000,
> "rewardPerSec": "0.298096891534391534"
> }
> },
> "marketData": {
> "assets": {
> "GLMR": {
> "price": "0.3974969",
> "totalSuppliedUnderlying": "19421811.6371216145503593959277301594092703",
> "totalSuppliedTVL": "7720109.91813976670676275376714536240169077551207",
> "totalBorrows": "6329673.039575419648633242",
> "totalBorrowedTVL": "2516025.4112448066265308029319498",
> "utilization": "0.32590538708949712442",
> "baseSupplyAPR": "533919709",
> "baseBorrowAPR": "2184354643",
> "govSupplySpeed": "801282000000000000",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "12167101851851851",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "xcDOT": {
> "price": "7.30940747",
> "totalSuppliedUnderlying": "836605.14456619299965607919592676",
> "totalSuppliedTVL": "6115087.8931325610211478527056186531168972",
> "totalBorrows": "522611.6511401924",
> "totalBorrowedTVL": "3819981.506753156345797228",
> "utilization": "0.62468137392483230903",
> "baseSupplyAPR": "2734230755",
> "baseBorrowAPR": "5836000816",
> "govSupplySpeed": "715430357142857142",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "10863483796296296",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "xcUSDT": {
> "price": "1.00023",
> "totalSuppliedUnderlying": "982287.95714199633949311016428",
> "totalSuppliedTVL": "982513.8833721389986511935796177844",
> "totalBorrows": "802747.490269",
> "totalBorrowedTVL": "802932.12219176187",
> "utilization": "0.81722216426700774885",
> "baseSupplyAPR": "3849260470",
> "baseBorrowAPR": "5887720377",
> "govSupplySpeed": "171703285714285714",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "2607236111111111",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "FRAX": {
> "price": "0.99816083",
> "totalSuppliedUnderlying": "3024230.747970218147610422988455357601716622",
> "totalSuppliedTVL": "3018668.67350547376149988232680768016167627284031626",
> "totalBorrows": "3216397.890218436961534687",
> "totalBorrowedTVL": "3210482.38771068391882814124971021",
> "utilization": "1.06354248675541580298",
> "baseSupplyAPR": "304875133",
> "baseBorrowAPR": "337247109",
> "govSupplySpeed": "457875428571428571",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "6952629629629629",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "ETH.wh": {
> "price": "2635.62",
> "totalSuppliedUnderlying": "271.181525447257817169999999724426474397",
> "totalSuppliedTVL": "714731.45209930164808959539927369290445022114",
> "totalBorrows": "14.827648952568252978",
> "totalBorrowedTVL": "39080.04813236793891387636",
> "utilization": "0.05467794654563253879",
> "baseSupplyAPR": "39338934",
> "baseBorrowAPR": "959288272",
> "govSupplySpeed": "114468857142857142",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "1738157407407407",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "BTC.wh": {
> "price": "49495.7796865",
> "totalSuppliedUnderlying": "130.1601818699999984304709416",
> "totalSuppliedTVL": "6442379.6857922915060699355138738078084",
> "totalBorrows": "0.09176818",
> "totalBorrowedTVL": "4542.13761951107557",
> "utilization": "0.00070504034860411648",
> "baseSupplyAPR": "337123",
> "baseBorrowAPR": "637549341",
> "govSupplySpeed": "286172142857142857",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "4345393518518518",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "USDC.wh": {
> "price": "0.999962",
> "totalSuppliedUnderlying": "2008695.167199999339729630893226",
> "totalSuppliedTVL": "2008618.836783645739754721167252057412",
> "totalBorrows": "1626821.887225",
> "totalBorrowedTVL": "1626760.06799328545",
> "utilization": "0.80988987965391095045",
> "baseSupplyAPR": "2760223820",
> "baseBorrowAPR": "4260183838",
> "govSupplySpeed": "314789357142857142",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "4779932870370370",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "xcUSDC": {
> "price": "0.999962",
> "totalSuppliedUnderlying": "20078.281223999985483455893484",
> "totalSuppliedTVL": "20077.518249313473484007522160047608",
> "totalBorrows": "16207.265809",
> "totalBorrowedTVL": "16206.649932899258",
> "utilization": "0.80720384519901630987",
> "baseSupplyAPR": "2366055686",
> "baseBorrowAPR": "3663968682",
> "govSupplySpeed": "0",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "0",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> }
> },
> "totalTVL": "27022187.86107449285545994198174908581311446949238626",
> "govRewardSplits": {
> "GLMR": 0.28,
> "xcDOT": 0.25,
> "xcUSDT": 0.06,
> "FRAX": 0.16,
> "ETH.wh": 0.04,
> "BTC.wh": 0.1,
> "USDC.wh": 0.06,
> "xcUSDC": 0.05
> },
> "nativeRewardSplits": {
> "GLMR": 0.28,
> "xcDOT": 0.25,
> "xcUSDT": 0.06,
> "FRAX": 0.16,
> "ETH.wh": 0.04,
> "BTC.wh": 0.1,
> "USDC.wh": 0.06,
> "xcUSDC": 0.05
> }
> },
> "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": "M18",
> "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:** [February 13, 2024, 11:20pm UTC](https://forum.moonwell.fi/t/mip-m18-rebalancing-of-moonbeam-token-liquidity-incentives/790/2 "2024-02-13T23:20:10Z")

</div>

Hey folks. Just a note about this Reward Speed Adjustment:

This month the rewards for each pool are largely not changing, with the exception of the USDC pools. With Native USDC (xcUSDC) increasing in liquidity on Moonbeam I am starting to shift the preference away from the bridged USDC (Wormhole) pool to the xcUSDC pool.