# MIP-R02 Rebalancing of Moonriver Token Liquidity Incentives

**URL:** <https://forum.moonwell.fi/t/mip-r02-rebalancing-of-moonriver-token-liquidity-incentives/602>\
**Category:** Moonwell Improvement Proposal\
**Tags:** mip, moonriver\
**Created:** [August 31, 2023, 3:07am UTC](https://forum.moonwell.fi/t/mip-r02-rebalancing-of-moonriver-token-liquidity-incentives/602 "2023-08-31T03:07:43Z")\
**Posts on this page:** 1\
**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:** [August 31, 2023, 3:07am UTC](https://forum.moonwell.fi/t/mip-r02-rebalancing-of-moonriver-token-liquidity-incentives/602/1 "2023-08-31T03:07:43Z")

</div>

# MIP-R02 Rebalancing of Moonriver Token Liquidity Incentives

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

- **Submitter** : Curly
- **Generator Version** : 1.0.17
- **Generated At** : Thu, 31 Aug 2023 02:48:28 GMT
- **Network** : Moonriver
- **Block Height** : 5,008,796

The submitter (`Curly`), as part of this proposal, will get `100,000 MFAM` sent to their wallet at `0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36`.

# Safety Module

At the time this proposal was generated there was `232,461,328` **MFAM** staked in the **Safety Module** , with a valuation of `$130,413.63` (based on a **MFAM** price of `$0.000561` pulled from **SolarBeam** ).

This proposal, if executed, would adjust the rewards on the **Safety Module** to keep emissions the same and emits `5,140,099` **MFAM** over the next **28 days** :

- Current (estimated APR = `~28.84%`):
  - `2.1247` MFAM / **second**
  - `183,574.97` MFAM / **day**
  - `5,140,099.14` MFAM / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~28.84%`):
  - `2.1247` MFAM / **second**
  - `183,574.97` MFAM / **day**
  - `5,140,099.14` MFAM / **reward cycle (28 days)**

# DEX Liquidity Pool Rewarder

At the time this proposal was generated there were `113,469,534` **MFAM** and `14,945` **MOVR** provided by liquidity providers in the **SolarBeam**  **MFAM** / **MOVR** pool totaling `$127,315.57`.

This proposal, if executed, would adjust the rewards on the **Dex Rewarder** to keep emissions the same and emits `5,763,141` **MFAM** over the next **28 days** :

Current rewards will expire at **Fri, 08 Sep 2023 03:30:00 GMT**

Proposed rewards will expire at **Fri, 06 Oct 2023 03:30:00 GMT**

- Current (estimated APR = `~33.13%`) days:
  - `2.3823` MFAM / **second**
  - `205,826.57` MFAM / **day**
  - `5,763,144.00` MFAM / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~33.13%`):
  - `2.3823` MFAM / **second**
  - `205,826.48` MFAM / **day**
  - `5,763,141.46` MFAM / **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.

* * *

# MOVR Market

| | |
| --- | --- |
| Latest price | **$4.26** |
| Supplied | **166,237.92** MOVR |
| Borrowed | **58,085.69** MOVR |
| Supplied TVL | **$708,095.66** |
| Borrowed TVL | **$247,417.83** |
| Utilization | **34.94%** |
| MFAM Incentive Share | **45%** |
| MOVR Incentive Share | **45%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **12.12%** | **12.84%** |
| Borrow Side | **-7.51%** | **-7.51%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.8113** MFAM / sec | **0.8692** MFAM / sec |
| +6.67% | **70,092.26** MFAM / day | **75,098.85** MFAM / day |
| | **1,962,583.31** MFAM / cycle\* | **2,102,767.83** MFAM / cycle\* |
| | | |
| **Borrow Side** | **0** MFAM / sec | **0** MFAM / sec |
| +0% | **0** MFAM / day | **0** MFAM / day |
| | **0** MFAM / cycle\* | **0** MFAM / cycle\* |

> #### **MOVR** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0004** MOVR / sec | **0.0005** MOVR / sec |
| +6.67% | **37.22** MOVR / day | **39.88** MOVR / day |
| | **1,042.23** MOVR / cycle\* | **1,116.68** MOVR / cycle\* |
| | | |
| **Borrow Side** | **0** MOVR / sec | **0** MOVR / sec |
| +0% | **0** MOVR / day | **0** MOVR / day |
| | **0** MOVR / cycle\* | **0** MOVR / cycle\* |

\* Reward cycle is **28 days** long

* * *

# xcKSM Market

| | |
| --- | --- |
| Latest price | **$19.24** |
| Supplied | **26,182.33** xcKSM |
| Borrowed | **10,232.50** xcKSM |
| Supplied TVL | **$503,777.26** |
| Borrowed TVL | **$196,884.77** |
| Utilization | **39.08%** |
| MFAM Incentive Share | **35%** |
| MOVR Incentive Share | **35%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **19.06%** | **14.28%** |
| Borrow Side | **-8.18%** | **-8.18%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.9465** MFAM / sec | **0.6760** MFAM / sec |
| -40.00% | **81,774.30** MFAM / day | **58,410.22** MFAM / day |
| | **2,289,680.53** MFAM / cycle\* | **1,635,486.09** MFAM / cycle\* |
| | | |
| **Borrow Side** | **0** MFAM / sec | **0** MFAM / sec |
| +0% | **0** MFAM / day | **0** MFAM / day |
| | **0** MFAM / cycle\* | **0** MFAM / cycle\* |

> #### **MOVR** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0005** MOVR / sec | **0.0004** MOVR / sec |
| -40.00% | **43.43** MOVR / day | **31.02** MOVR / day |
| | **1,215.93** MOVR / cycle\* | **868.53** MOVR / cycle\* |
| | | |
| **Borrow Side** | **0** MOVR / sec | **0** MOVR / sec |
| +0% | **0** MOVR / day | **0** MOVR / day |
| | **0** MOVR / cycle\* | **0** MOVR / cycle\* |

\* Reward cycle is **28 days** long

* * *

# FRAX Market

| | |
| --- | --- |
| Latest price | **$0.9981** |
| Supplied | **424,263.62** FRAX |
| Borrowed | **145,908.09** FRAX |
| Supplied TVL | **$423,468.46** |
| Borrowed TVL | **$145,634.63** |
| Utilization | **34.39%** |
| MFAM Incentive Share | **20%** |
| MOVR Incentive Share | **20%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **4.16%** | **8.63%** |
| Borrow Side | **-1.73%** | **-1.73%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.1738** MFAM / sec | **0.3863** MFAM / sec |
| +55.00% | **15,019.77** MFAM / day | **33,377.27** MFAM / day |
| | **420,553.57** MFAM / cycle\* | **934,563.48** MFAM / cycle\* |
| | | |
| **Borrow Side** | **0** MFAM / sec | **0** MFAM / sec |
| +0% | **0** MFAM / day | **0** MFAM / day |
| | **0** MFAM / cycle\* | **0** MFAM / cycle\* |

> #### **MOVR** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0001** MOVR / sec | **0.0002** MOVR / sec |
| +55.00% | **7.98** MOVR / day | **17.72** MOVR / day |
| | **223.33** MOVR / cycle\* | **496.30** MOVR / cycle\* |
| | | |
| **Borrow Side** | **0** MOVR / sec | **0** MOVR / sec |
| +0% | **0** MOVR / day | **0** MOVR / day |
| | **0** MOVR / cycle\* | **0** MOVR / cycle\* |

\* Reward cycle is **28 days** long

* * *

# Definitions

**MFAM** - The Moonwell Apollo governance token

**Liquidity Incentives** - MFAM tokens that have been allocated for use as rewards to incentivize liquidity growth.

**Core** - Moonwell Apollo lending protocol ([Moonwell: DeFi’s Liquidity Well](https://moonwell.fi/apollo)).

**DEX LP** - Solarbeam’s MFAM/MOVR farm ([Solarbeam - The DEX on Moonriver, powered by SOLAR](https://app.solarbeam.io/farm)).

**Safety Module** - Smart contract that allows users to stake their MFAM tokens in order to earn liquidity incentives and help backstop the Moonwell protocol.

**Reward Speed** - The rate at which MFAM 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: `c6ac4b75a8f7c7c75b6729a1e53d39e0e1ed729c2b97206a0601b56c020de91e`

> **Proposal Config**
>
> ```
> {
> "_meta": {
> "generatedAt": "2023-08-31T02:20:24.806Z",
> "generatorVersion": "1.0.17"
> },
> "snapshotBlock": 5008796,
> "safetyModuleInfo": {
> "totalStaked": "232461328.461563147114598005",
> "stakedTVL": "130413.625631233231323057720821305659407795397111431",
> "govTokenPrice": "0.0005610121326171323680247662",
> "emissions": {
> "emissionsPerSecond": "2.124710292658730158",
> "lastUpdateTimestamp": 1693443066,
> "emissionAPR": "28.843833069074886801",
> "emissionsPerYear": "67050757.5316071428341008"
> }
> },
> "dexInfo": {
> "govTokenTotal": "113469533.938481730078112619",
> "nativeAssetTotal": "14944.786032413700621063",
> "govTokenPrice": "0.0005610121326171323680247662",
> "nextFreeSlot": 32,
> "emissionsPerYear": "75178155.2142857142546576",
> "poolTVL": "127315.5704437994296737726361681333997576123447446778",
> "currentPoolAPR": "33.127022119895220299",
> "currentPoolRewardInfo": {
> "startTimestamp": 1691724600,
> "endTimestamp": 1694143800,
> "rewardPerSec": "2.382251984126984126"
> }
> },
> "marketData": {
> "assets": {
> "MOVR": {
> "price": "4.25953139",
> "totalSuppliedUnderlying": "166237.924843043505778676999980822421821359",
> "totalSuppliedTVL": "708095.65907740463599992107408934250376389963295901",
> "totalBorrows": "58085.691245803989225396",
> "totalBorrowedTVL": "247417.82517135029789279604718044",
> "utilization": "0.34941299526354547554",
> "baseSupplyAPR": "601733164",
> "baseBorrowAPR": "2296167848",
> "govSupplySpeed": "811253020833333333",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "430815972222222",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "xcKSM": {
> "price": "19.24111548",
> "totalSuppliedUnderlying": "26182.331461143983999977770836237581",
> "totalSuppliedTVL": "503777.26317950852905084460609302346473685388",
> "totalBorrows": "10232.502939923676",
> "totalBorrowedTVL": "196884.77071651095230210448",
> "utilization": "0.39081710332440300895",
> "baseSupplyAPR": "730761113",
> "baseBorrowAPR": "2493105196",
> "govSupplySpeed": "946461857638888888",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "502618634259259",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "FRAX": {
> "price": "0.99812578",
> "totalSuppliedUnderlying": "424263.622176907432150760999223616735483011",
> "totalSuppliedTVL": "423468.45881095102870327539994365184852503403112358",
> "totalBorrows": "145908.092723630883957911",
> "totalBorrowedTVL": "145634.62885808640048257940404558",
> "utilization": "0.34390903461148224429",
> "baseSupplyAPR": "159393090",
> "baseBorrowAPR": "545264197",
> "govSupplySpeed": "173839933035714285",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "92317708333333",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> }
> },
> "totalTVL": "1635341.38106786419375404108012601781702578754408259",
> "govRewardSplits": {
> "MOVR": 0.45,
> "xcKSM": 0.35,
> "FRAX": 0.2
> },
> "nativeRewardSplits": {
> "MOVR": 0.45,
> "xcKSM": 0.35,
> "FRAX": 0.2
> }
> },
> "config": {
> "daysPerRewardCycle": 28,
> "rpc": "https://rpc.api.moonriver.moonbeam.network",
> "govTokenName": "MFAM",
> "nativeTokenName": "MOVR",
> "networkName": "Moonriver",
> "dexName": "SolarBeam",
> "govTokenUniPoolAddress": "0xE6Bfc609A2e58530310D6964ccdd236fc93b4ADB",
> "ecosystemReserve": "0xbA17581Bb6d89954B42fB84294e476e97588908B",
> "treasuryAddress": "0x45DD368E30C07804b037260071d332e547C874F0",
> "dexPoolID": 11,
> "submissionRewardAmount": 100000
> },
> "responses": {
> "name": "Curly",
> "network": "Moonriver",
> "mipNumber": "R02",
> "componentSplits": {
> "ALL_MARKETS": 0.3,
> "SAFETY_MODULE": 0.33,
> "DEX_REWARDER": 0.37
> },
> "emissionAmounts": {
> "0": 15576058,
> "1": 2481.5
> },
> "submitterWallet": "0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36"
> }
> }
> ```