# MIP-R06 Rebalancing of Moonriver Token Liquidity Incentives

**URL:** <https://forum.moonwell.fi/t/mip-r06-rebalancing-of-moonriver-token-liquidity-incentives/628>\
**Category:** Proposals\
**Tags:** mip, moonriver\
**Created:** [September 27, 2023, 7:42am UTC](https://forum.moonwell.fi/t/mip-r06-rebalancing-of-moonriver-token-liquidity-incentives/628 "2023-09-27T07:42:06Z")\
**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:** [September 27, 2023, 7:42am UTC](https://forum.moonwell.fi/t/mip-r06-rebalancing-of-moonriver-token-liquidity-incentives/628/1 "2023-09-27T07:42:06Z")

</div>

# MIP-R06 Rebalancing of Moonriver Token Liquidity Incentives

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

- **Submitter** : Curly
- **Generator Version** : 1.0.18
- **Generated At** : Wed, 27 Sep 2023 03:05:08 GMT
- **Network** : Moonriver
- **Block Height** : 5,198,319

The submitter (`Curly`), as part of this proposal, will get `150,000 MFAM` sent to their wallet at `0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36`.

# Safety Module

At the time this proposal was generated there was `234,890,984` **MFAM** staked in the **Safety Module** , with a valuation of `$107,793.29` (based on a **MFAM** price of `$0.000459` 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 = `~28.55%`):
  - `2.1247` MFAM / **second**
  - `183,574.97` MFAM / **day**
  - `5,140,099.14` MFAM / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~28.55%`):
  - `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 `123,008,297` **MFAM** and `13,642` **MOVR** provided by liquidity providers in the **SolarBeam**  **MFAM** / **MOVR** pool totaling `$112,898.92`.

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, 06 Oct 2023 03:30:00 GMT**

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

- Current (estimated APR = `~30.56%`) days:
  - `2.3823` MFAM / **second**
  - `205,826.57` MFAM / **day**
  - `5,763,144.00` MFAM / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~30.56%`):
  - `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 | **$4.14** |
| Supplied | **141,757.65** MOVR |
| Borrowed | **58,503.05** MOVR |
| Supplied TVL | **$586,594.95** |
| Borrowed TVL | **$242,086.38** |
| Utilization | **41.27%** |
| MFAM Incentive Share | **40%** |
| MOVR Incentive Share | **40%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **14.98%** | **13.60%** |
| Borrow Side | **-8.53%** | **-8.53%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.8692** MFAM / sec | **0.7726** MFAM / sec |
| -12.50% | **75,098.85** MFAM / day | **66,754.53** MFAM / day |
| | **2,102,767.83** MFAM / cycle\* | **1,869,126.96** 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 |
| -12.50% | **39.88** MOVR / day | **35.45** MOVR / day |
| | **1,116.67** MOVR / cycle\* | **992.60** 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 | **$18.94** |
| Supplied | **26,094.12** xcKSM |
| Borrowed | **8,290.40** xcKSM |
| Supplied TVL | **$494,241.62** |
| Borrowed TVL | **$157,026.12** |
| Utilization | **31.77%** |
| MFAM Incentive Share | **35%** |
| MOVR Incentive Share | **35%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **13.08%** | **13.08%** |
| Borrow Side | **-7.00%** | **-7.00%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.6760** MFAM / sec | **0.6760** MFAM / sec |
| +0.00% | **58,410.22** MFAM / day | **58,410.22** MFAM / day |
| | **1,635,486.09** 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** | **0.0004** MOVR / sec | **0.0004** MOVR / sec |
| +0.00% | **31.02** MOVR / day | **31.02** MOVR / day |
| | **868.52** 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 | **457,549.94** FRAX |
| Borrowed | **168,151.58** FRAX |
| Supplied TVL | **$456,670.49** |
| Borrowed TVL | **$167,828.38** |
| Utilization | **36.75%** |
| MFAM Incentive Share | **25%** |
| MOVR Incentive Share | **25%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **7.66%** | **9.43%** |
| Borrow Side | **-1.85%** | **-1.85%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.3863** MFAM / sec | **0.4829** MFAM / sec |
| +20.00% | **33,377.27** MFAM / day | **41,721.58** MFAM / day |
| | **934,563.48** MFAM / cycle\* | **1,168,204.35** 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** | **0.0002** MOVR / sec | **0.0003** MOVR / sec |
| +20.00% | **17.72** MOVR / day | **22.16** MOVR / day |
| | **496.30** MOVR / cycle\* | **620.37** 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: `bc82226b00d0d5235c64cf40283609c89bf6957d576c5a73e4036c49409ec5ea`

> **Proposal Config**
>
> ```
> {
> "_meta": {
> "generatedAt": "2023-09-27T02:55:40.144Z",
> "generatorVersion": "1.0.18"
> },
> "snapshotBlock": 5198319,
> "safetyModuleInfo": {
> "totalStaked": "234890984.092665080611780048",
> "stakedTVL": "107793.2883739417013086911692524019881054519474851184",
> "govTokenPrice": "0.0004589077302831554381356483",
> "emissions": {
> "emissionsPerSecond": "2.124710292658730158",
> "lastUpdateTimestamp": 1695767406,
> "emissionAPR": "28.545479423405817618",
> "emissionsPerYear": "67050757.5316071428341008"
> }
> },
> "dexInfo": {
> "govTokenTotal": "123008296.652672863300719558",
> "nativeAssetTotal": "13641.682877175246215095",
> "govTokenPrice": "0.0004589077302831554381356483",
> "nextFreeSlot": 33,
> "emissionsPerYear": "75178155.2142857142546576",
> "poolTVL": "112898.9164457503381724031055988934765235314008194514",
> "currentPoolAPR": "30.55816447347422069",
> "currentPoolRewardInfo": {
> "startTimestamp": 1694143800,
> "endTimestamp": 1696563000,
> "rewardPerSec": "2.382251984126984126"
> }
> },
> "marketData": {
> "assets": {
> "MOVR": {
> "price": "4.13801279",
> "totalSuppliedUnderlying": "141757.646278159102513185999652690335343896",
> "totalSuppliedTVL": "586594.95337931826385448481021176816556243069642984",
> "totalBorrows": "58503.05158625945738787",
> "totalBorrowedTVL": "242086.3757179714229294660508573",
> "utilization": "0.41269767890660262103",
> "baseSupplyAPR": "803887454",
> "baseBorrowAPR": "2597179471",
> "govSupplySpeed": "869199665178571428",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "461588541666666",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "xcKSM": {
> "price": "18.94072532",
> "totalSuppliedUnderlying": "26094.123157020849999928571116509962",
> "totalSuppliedTVL": "494241.61918338314936156908513790090728563784",
> "totalBorrows": "8290.396423574292",
> "totalBorrowedTVL": "157026.12145283103738547344",
> "utilization": "0.31771124761261383819",
> "baseSupplyAPR": "511208391",
> "baseBorrowAPR": "2145379474",
> "govSupplySpeed": "676044184027777777",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "359013310185185",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "FRAX": {
> "price": "0.99807792",
> "totalSuppliedUnderlying": "457549.936843053726033812999991087779051025",
> "totalSuppliedTVL": "456670.489260446429328077928700064909052666605868",
> "totalBorrows": "168151.582005079900142974",
> "totalBorrowedTVL": "167828.38121233957616850719253408",
> "utilization": "0.36750432786696752418",
> "baseSupplyAPR": "182015024",
> "baseBorrowAPR": "582674289",
> "govSupplySpeed": "386310962301587301",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "205150462962962",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> }
> },
> "totalTVL": "1537507.06182314784254413182404973398190073514229784",
> "govRewardSplits": {
> "MOVR": 0.4,
> "xcKSM": 0.35,
> "FRAX": 0.25
> },
> "nativeRewardSplits": {
> "MOVR": 0.4,
> "xcKSM": 0.35,
> "FRAX": 0.25
> }
> },
> "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": 150000
> },
> "responses": {
> "name": "Curly",
> "network": "Moonriver",
> "mipNumber": "R06",
> "componentSplits": {
> "ALL_MARKETS": 0.3,
> "SAFETY_MODULE": 0.33,
> "DEX_REWARDER": 0.37
> },
> "emissionAmounts": {
> "0": 15576058,
> "1": 2481.5
> },
> "submitterWallet": "0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36"
> }
> }
> ```