# MIP-M26 Rebalancing of Moonbeam Token Liquidity Incentives

**URL:** <https://forum.moonwell.fi/t/mip-m26-rebalancing-of-moonbeam-token-liquidity-incentives/862>\
**Category:** Proposals\
**Tags:** mip, moonbeam\
**Created:** [April 10, 2024, 5:51am UTC](https://forum.moonwell.fi/t/mip-m26-rebalancing-of-moonbeam-token-liquidity-incentives/862 "2024-04-10T05:51:42Z")\
**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:** [April 10, 2024, 5:51am UTC](https://forum.moonwell.fi/t/mip-m26-rebalancing-of-moonbeam-token-liquidity-incentives/862/1 "2024-04-10T05:51:43Z")

</div>

# MIP-M26 Rebalancing of Moonbeam Token Liquidity Incentives

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

- **Submitter** : Curly
- **Generator Version** : 1.0.31
- **Generated At** : Wed, 10 Apr 2024 05:15:55 GMT
- **Network** : Moonbeam
- **Block Height** : 5,911,629

The submitter (`Curly`), as part of this proposal, will get `15,000 WELL` sent to their wallet at `0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36`.

# Safety Module

At the time this proposal was generated there was `425,686,632` **WELL** staked in the **Safety Module** , with a valuation of `$19,574,808.72` (based on a **WELL** price of `$0.045984` 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 = `~20.77%`):
  - `2.8021` WELL / **second**
  - `242,101.63` WELL / **day**
  - `6,778,845.72` WELL / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~20.77%`):
  - `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 `8,776,825` **WELL** and `911,004` **GLMR** provided by liquidity providers in the **StellaSwap**  **WELL** / **GLMR** pool totaling `$807,188.47`.

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

Current rewards will expire at **Thu, 01 Jan 1970 00:00:00 GMT**

Proposed rewards will expire at **Thu, 29 Jan 1970 00:00:00 GMT**

- Current (estimated APR = `~0%`) days:
  - `0` WELL / **second**
  - `0` WELL / **day**
  - `0` WELL / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~53.59%`):
  - `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 | **$0.4430** |
| Supplied | **28,243,216.04** GLMR |
| Borrowed | **6,748,574.14** GLMR |
| Supplied TVL | **$12,512,342.61** |
| Borrowed TVL | **$2,989,761.21** |
| Utilization | **23.89%** |
| WELL Incentive Share | **34%** |
| GLMR Incentive Share | **34%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **13.10%** | **13.86%** |
| Borrow Side | **-5.74%** | **-5.74%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.9158** WELL / sec | **0.9730** WELL / sec |
| +5.88% | **79,120.87** WELL / day | **84,065.93** WELL / day |
| | **2,215,384.47** WELL / cycle\* | **2,353,846.00** 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** | **0.0139** GLMR / sec | **0.0148** GLMR / sec |
| +5.88% | **1,201.41** GLMR / day | **1,276.50** GLMR / day |
| | **33,639.60** GLMR / cycle\* | **35,742.08** 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 | **$8.55** |
| Supplied | **1,275,258.37** xcDOT |
| Borrowed | **162,393.18** xcDOT |
| Supplied TVL | **$10,897,702.08** |
| Borrowed TVL | **$1,387,728.56** |
| Utilization | **12.73%** |
| WELL Incentive Share | **31%** |
| GLMR Incentive Share | **31%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **13.47%** | **13.91%** |
| Borrow Side | **-3.99%** | **-3.99%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.8585** WELL / sec | **0.8871** WELL / sec |
| +3.23% | **74,175.82** WELL / day | **76,648.35** WELL / day |
| | **2,076,922.94** WELL / cycle\* | **2,146,153.71** 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 | **0.0135** GLMR / sec |
| +3.23% | **1,126.33** GLMR / day | **1,163.87** GLMR / day |
| | **31,537.13** GLMR / cycle\* | **32,588.37** 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 | **$1.0000** |
| Supplied | **1,049,681.80** xcUSDT |
| Borrowed | **776,729.18** xcUSDT |
| Supplied TVL | **$1,049,629.32** |
| Borrowed TVL | **$776,690.35** |
| Utilization | **74.00%** |
| WELL Incentive Share | **5%** |
| GLMR Incentive Share | **5%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **26.32%** | **26.32%** |
| Borrow Side | **-6.69%** | **-6.69%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.1431** WELL / sec | **0.1431** WELL / sec |
| +0.00% | **12,362.64** WELL / day | **12,362.64** WELL / day |
| | **346,153.82** 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** | **0.0022** GLMR / sec | **0.0022** GLMR / sec |
| +0.00% | **187.72** GLMR / day | **187.72** GLMR / day |
| | **5,256.19** 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

* * *

# FRAX Market

| | |
| --- | --- |
| Latest price | **$0.9976** |
| Supplied | **3,016,360.69** FRAX |
| Borrowed | **187,104.57** FRAX |
| Supplied TVL | **$3,009,083.11** |
| Borrowed TVL | **$186,653.14** |
| Utilization | **6.20%** |
| WELL Incentive Share | **12%** |
| GLMR Incentive Share | **12%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **18.99%** | **18.99%** |
| Borrow Side | **-0.3498%** | **-0.3498%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.3434** WELL / sec | **0.3434** WELL / sec |
| +0.00% | **29,670.33** WELL / day | **29,670.33** WELL / day |
| | **830,769.18** WELL / cycle\* | **830,769.18** 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** | **0.0052** GLMR / sec | **0.0052** GLMR / sec |
| +0.00% | **450.53** GLMR / day | **450.53** GLMR / day |
| | **12,614.85** GLMR / cycle\* | **12,614.85** 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 | **$3,519.48** |
| Supplied | **364.81** ETH.wh |
| Borrowed | **91.73** ETH.wh |
| Supplied TVL | **$1,283,935.24** |
| Borrowed TVL | **$322,850.44** |
| Utilization | **25.15%** |
| WELL Incentive Share | **4%** |
| GLMR Incentive Share | **4%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **16.09%** | **16.09%** |
| Borrow Side | **-6.94%** | **-6.94%** |

> #### **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 | **$69,171.63** |
| Supplied | **130.56** BTC.wh |
| Borrowed | **0.2196** BTC.wh |
| Supplied TVL | **$9,031,343.19** |
| Borrowed TVL | **$15,189.75** |
| Utilization | **0.1682%** |
| WELL Incentive Share | **4%** |
| GLMR Incentive Share | **4%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **4.22%** | **2.11%** |
| Borrow Side | **-2.05%** | **-2.05%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.2289** WELL / sec | **0.1145** WELL / sec |
| -100.00% | **19,780.22** WELL / day | **9,890.11** WELL / day |
| | **553,846.12** 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** | **0.0035** GLMR / sec | **0.0017** GLMR / sec |
| -100.00% | **300.35** GLMR / day | **150.18** GLMR / day |
| | **8,409.90** 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

* * *

# USDC.wh Market

| | |
| --- | --- |
| Latest price | **$1.00** |
| Supplied | **1,652,481.89** USDC.wh |
| Borrowed | **1,366,930.85** USDC.wh |
| Supplied TVL | **$1,652,516.03** |
| Borrowed TVL | **$1,366,959.09** |
| Utilization | **82.72%** |
| WELL Incentive Share | **3%** |
| GLMR Incentive Share | **3%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **26.96%** | **26.96%** |
| Borrow Side | **-31.15%** | **-31.15%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0859** WELL / sec | **0.0859** WELL / sec |
| +0.00% | **7,417.58** WELL / day | **7,417.58** WELL / day |
| | **207,692.29** WELL / cycle\* | **207,692.29** 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** | **0.0013** GLMR / sec | **0.0013** GLMR / sec |
| +0.00% | **112.63** GLMR / day | **112.63** GLMR / day |
| | **3,153.71** GLMR / cycle\* | **3,153.71** 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

* * *

# xcUSDC Market

| | |
| --- | --- |
| Latest price | **$1.00** |
| Supplied | **907,592.36** xcUSDC |
| Borrowed | **400,008.91** xcUSDC |
| Supplied TVL | **$907,611.12** |
| Borrowed TVL | **$400,017.17** |
| Utilization | **44.07%** |
| WELL Incentive Share | **7%** |
| GLMR Incentive Share | **7%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **32.73%** | **37.97%** |
| Borrow Side | **-3.93%** | **-3.93%** |

> #### **WELL** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.1717** WELL / sec | **0.2003** WELL / sec |
| +14.29% | **14,835.16** WELL / day | **17,307.69** WELL / day |
| | **415,384.59** WELL / cycle\* | **484,615.35** 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 | **0.0030** GLMR / sec |
| +14.29% | **225.27** GLMR / day | **262.81** GLMR / day |
| | **6,307.43** GLMR / cycle\* | **7,358.66** 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: `18b373b6419b8a4d9ad5f0f494b5f7da6d08a52437aad9e0796698def154a5dc`

> **Proposal Config**
>
> ```
> {
> "_meta": {
> "generatedAt": "2024-04-10T05:13:48.729Z",
> "generatorVersion": "1.0.31"
> },
> "snapshotBlock": 5911629,
> "safetyModuleInfo": {
> "totalStaked": "425686632.348815450274198442",
> "stakedTVL": "19574808.721099525849560379668502173323547422371886327",
> "govTokenPrice": "0.0459840813254844418430460935",
> "emissions": {
> "emissionsPerSecond": "2.802102232142857142",
> "lastUpdateTimestamp": 1712725014,
> "emissionAPR": "20.772938279305000668",
> "emissionsPerYear": "88427621.4010714285443792"
> }
> },
> "dexInfo": {
> "govTokenTotal": "8776825.014685259663896557",
> "nativeAssetTotal": "911004.400206954356003262",
> "govTokenPrice": "0.0459840813254844418430460935",
> "nextFreeSlot": 11,
> "emissionsPerYear": "0",
> "poolTVL": "807188.4705096663218827302823723640286507523669500795",
> "currentPoolAPR": "0",
> "currentPoolRewardInfo": {
> "startTimestamp": 0,
> "endTimestamp": 0,
> "rewardPerSec": "0"
> }
> },
> "marketData": {
> "assets": {
> "GLMR": {
> "price": "0.44302117",
> "totalSuppliedUnderlying": "28243216.037689997388732366979683636320390844",
> "totalSuppliedTVL": "12512342.61358018674045315803620881079251404656616748",
> "totalBorrows": "6748574.135275346734522212",
> "totalBorrowedTVL": "2989761.20924142238248370975122804",
> "utilization": "0.23894496031434634796",
> "baseSupplyAPR": "296174921",
> "baseBorrowAPR": "1770730086",
> "govSupplySpeed": "915750857142857142",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "13905259259259259",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "xcDOT": {
> "price": "8.5454856",
> "totalSuppliedUnderlying": "1275258.3749977523995586448942041256",
> "totalSuppliedTVL": "10897702.07982269316279384629893487877539136",
> "totalBorrows": "162393.1775034501",
> "totalBorrowedTVL": "1387728.55989397677986856",
> "utilization": "0.12734139268345233378",
> "baseSupplyAPR": "118417104",
> "baseBorrowAPR": "1239891199",
> "govSupplySpeed": "858516428571428571",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "13036180555555555",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "xcUSDT": {
> "price": "0.99995",
> "totalSuppliedUnderlying": "1049681.799695999762945407280988",
> "totalSuppliedTVL": "1049629.3156060149629572600106239506",
> "totalBorrows": "776729.184453",
> "totalBorrowedTVL": "776690.34799377735",
> "utilization": "0.73996632567883899523",
> "baseSupplyAPR": "1139427302",
> "baseBorrowAPR": "2053115597",
> "govSupplySpeed": "143086071428571428",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "2172696759259259",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "FRAX": {
> "price": "0.9975873",
> "totalSuppliedUnderlying": "3016360.687312830565212046989367144251233444",
> "totalSuppliedTVL": "3009083.1138825508989073598835958981422984930696612",
> "totalBorrows": "187104.568776701447697099",
> "totalBorrowedTVL": "186653.1415836139001142402092427",
> "utilization": "0.06202990562888760964",
> "baseSupplyAPR": "5838791",
> "baseBorrowAPR": "110739589",
> "govSupplySpeed": "343406571428571428",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "5214472222222222",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "ETH.wh": {
> "price": "3519.4812",
> "totalSuppliedUnderlying": "364.808096774907892850999999752520743242",
> "totalSuppliedTVL": "1283935.2382070689606207089003290014084502460504",
> "totalBorrows": "91.732396010526157183",
> "totalBorrowedTVL": "322850.4431900018123138134596",
> "utilization": "0.25145383784375386655",
> "baseSupplyAPR": "401553470",
> "baseBorrowAPR": "2129236255",
> "govSupplySpeed": "114468857142857142",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "1738157407407407",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "BTC.wh": {
> "price": "69171.62517032",
> "totalSuppliedUnderlying": "130.56427642999999782973147354",
> "totalSuppliedTVL": "9031343.1898500061614365989687661670733328",
> "totalBorrows": "0.2195951",
> "totalBorrowedTVL": "15189.749946438937432",
> "utilization": "0.00168189267389485738",
> "baseSupplyAPR": "810078",
> "baseBorrowAPR": "642195709",
> "govSupplySpeed": "228937714285714285",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "3476314814814814",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "USDC.wh": {
> "price": "1.00002066",
> "totalSuppliedUnderlying": "1652481.890109994594150035573152",
> "totalSuppliedTVL": "1652516.03038584426663835071288694132032",
> "totalBorrows": "1366930.853628",
> "totalBorrowedTVL": "1366959.09441943595448",
> "utilization": "0.82719868932240619949",
> "baseSupplyAPR": "5336625698",
> "baseBorrowAPR": "8601924814",
> "govSupplySpeed": "85851642857142857",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "1303618055555555",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "xcUSDC": {
> "price": "1.00002066",
> "totalSuppliedUnderlying": "907592.364566999130757142936685",
> "totalSuppliedTVL": "907611.1154252510849591843792580719121",
> "totalBorrows": "400008.907849",
> "totalBorrowedTVL": "400017.17203303616034",
> "utilization": "0.4407363079126819279",
> "baseSupplyAPR": "404222392",
> "baseBorrowAPR": "1222869956",
> "govSupplySpeed": "171703285714285714",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "2607236111111111",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> }
> },
> "totalTVL": "40344162.69675961623876646719060372002440694568622868",
> "govRewardSplits": {
> "GLMR": 0.34,
> "xcDOT": 0.31,
> "xcUSDT": 0.05,
> "FRAX": 0.12,
> "ETH.wh": 0.04,
> "BTC.wh": 0.04,
> "USDC.wh": 0.03,
> "xcUSDC": 0.07
> },
> "nativeRewardSplits": {
> "GLMR": 0.34,
> "xcDOT": 0.31,
> "xcUSDT": 0.05,
> "FRAX": 0.12,
> "ETH.wh": 0.04,
> "BTC.wh": 0.04,
> "USDC.wh": 0.03,
> "xcUSDC": 0.07
> }
> },
> "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": 15000
> },
> "responses": {
> "name": "Curly",
> "network": "Moonbeam",
> "mipNumber": "M26",
> "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:** [April 10, 2024, 5:56am UTC](https://forum.moonwell.fi/t/mip-m26-rebalancing-of-moonbeam-token-liquidity-incentives/862/2 "2024-04-10T05:56:08Z")

</div>

Hey folks,

Just a couple of notes about this month’s Reward Speed adjustment:

1. Since we upgraded the governer to manage multichain governance, we also needed to deploy a new dex rewarder contract, which is why you will see that the “current rewards” in the description are 0, but provided this passes, the rewards will be sent to the new rewarder and everything should be successfully transitioned 🤞

2. We are continuing to prioritize xcUSDC over USDC.wh