# MIP-R09 Rebalancing of Moonriver Token Liquidity Incentives

**URL:** <https://forum.moonwell.fi/t/mip-r09-rebalancing-of-moonriver-token-liquidity-incentives/712>\
**Category:** Proposals\
**Tags:** mip, moonriver\
**Created:** [December 19, 2023, 12:21am UTC](https://forum.moonwell.fi/t/mip-r09-rebalancing-of-moonriver-token-liquidity-incentives/712 "2023-12-19T00:21:22Z")\
**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:** [December 19, 2023, 12:21am UTC](https://forum.moonwell.fi/t/mip-r09-rebalancing-of-moonriver-token-liquidity-incentives/712/1 "2023-12-19T00:21:22Z")

</div>

# MIP-R09 Rebalancing of Moonriver Token Liquidity Incentives

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

- **Submitter** : Curly
- **Generator Version** : 1.0.22
- **Generated At** : Mon, 18 Dec 2023 19:03:02 GMT
- **Network** : Moonriver
- **Block Height** : 5,765,386

The submitter (`Curly`), as part of this proposal, will get `250,000 MFAM` sent to their wallet at `0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36`.

# Safety Module

At the time this proposal was generated there was `351,031,606` **MFAM** staked in the **Safety Module** , with a valuation of `$310,155.40` (based on a **MFAM** price of `$0.000884` 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 = `~19.10%`):
  - `2.1247` MFAM / **second**
  - `183,574.97` MFAM / **day**
  - `5,140,099.14` MFAM / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~19.10%`):
  - `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 `63,592,269` **MFAM** and `8,888` **MOVR** provided by liquidity providers in the **SolarBeam**  **MFAM** / **MOVR** pool totaling `$112,374.41`.

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, 29 Dec 2023 03:30:00 GMT**

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

- Current (estimated APR = `~59.11%`) days:
  - `2.3823` MFAM / **second**
  - `205,826.57` MFAM / **day**
  - `5,763,144.00` MFAM / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~59.11%`):
  - `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 | **$6.32** |
| Supplied | **180,299.52** MOVR |
| Borrowed | **42,995.54** MOVR |
| Supplied TVL | **$1,139,815.77** |
| Borrowed TVL | **$271,808.77** |
| Utilization | **23.85%** |
| MFAM Incentive Share | **42%** |
| MOVR Incentive Share | **42%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **10.29%** | **10.52%** |
| Borrow Side | **-5.74%** | **-5.74%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.7919** MFAM / sec | **0.8113** MFAM / sec |
| +2.38% | **68,423.40** MFAM / day | **70,092.26** MFAM / day |
| | **1,915,855.13** MFAM / cycle\* | **1,962,583.31** 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 |
| +2.38% | **36.34** MOVR / day | **37.22** MOVR / day |
| | **1,017.41** MOVR / cycle\* | **1,042.23** 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 | **$28.43** |
| Supplied | **32,631.78** xcKSM |
| Borrowed | **7,971.67** xcKSM |
| Supplied TVL | **$927,641.84** |
| Borrowed TVL | **$226,615.20** |
| Utilization | **24.43%** |
| MFAM Incentive Share | **34%** |
| MOVR Incentive Share | **34%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **11.07%** | **10.51%** |
| Borrow Side | **-5.83%** | **-5.83%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.6954** MFAM / sec | **0.6567** MFAM / sec |
| -5.88% | **60,079.08** MFAM / day | **56,741.35** MFAM / day |
| | **1,682,214.26** MFAM / cycle\* | **1,588,757.92** 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 | **0.0003** MOVR / sec |
| -5.88% | **31.90** MOVR / day | **30.13** MOVR / day |
| | **893.34** MOVR / cycle\* | **843.71** 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 | **$0.9990** |
| Supplied | **642,439.86** FRAX |
| Borrowed | **257,323.01** FRAX |
| Supplied TVL | **$641,769.07** |
| Borrowed TVL | **$257,054.34** |
| Utilization | **40.05%** |
| MFAM Incentive Share | **24%** |
| MOVR Incentive Share | **24%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **9.94%** | **10.34%** |
| Borrow Side | **-2.02%** | **-2.02%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.4443** MFAM / sec | **0.4636** MFAM / sec |
| +4.17% | **38,383.86** MFAM / day | **40,052.72** MFAM / day |
| | **1,074,748.00** MFAM / cycle\* | **1,121,476.18** 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 | **0.0002** MOVR / sec |
| +4.17% | **20.38** MOVR / day | **21.27** MOVR / day |
| | **570.74** MOVR / cycle\* | **595.56** 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: `5781bba4bc68cbbfb7616004a1a86bcd8e0a3016a664ca8de6a58938dde7fc18`

> **Proposal Config**
>
> ```
> {
> "_meta": {
> "generatedAt": "2023-12-18T19:01:43.483Z",
> "generatorVersion": "1.0.22"
> },
> "snapshotBlock": 5765386,
> "safetyModuleInfo": {
> "totalStaked": "351031605.90983099725688316",
> "stakedTVL": "310155.39656454706869942395546279783174110181376072",
> "govTokenPrice": "0.000883554048532644824367342",
> "emissions": {
> "emissionsPerSecond": "2.124710292658730158",
> "lastUpdateTimestamp": 1702919040,
> "emissionAPR": "19.101059962341504404",
> "emissionsPerYear": "67050757.5316071428341008"
> }
> },
> "dexInfo": {
> "govTokenTotal": "63592268.813815647221927725",
> "nativeAssetTotal": "8887.863003211276270196",
> "govTokenPrice": "0.000883554048532644824367342",
> "nextFreeSlot": 36,
> "emissionsPerYear": "75178155.2142857142546576",
> "poolTVL": "112374.41313164613161823889658935524950514277435695",
> "currentPoolAPR": "59.109508605826776635",
> "currentPoolRewardInfo": {
> "startTimestamp": 1701401400,
> "endTimestamp": 1703820600,
> "rewardPerSec": "2.382251984126984126"
> }
> },
> "marketData": {
> "assets": {
> "MOVR": {
> "price": "6.32179035",
> "totalSuppliedUnderlying": "180299.521006697972360716999250917533901452",
> "totalSuppliedTVL": "1139815.7720097655270345474449454076944639971045882",
> "totalBorrows": "42995.536568681791519591",
> "totalBorrowedTVL": "271808.76817296466184926221974685",
> "utilization": "0.23846728115869228661",
> "baseSupplyAPR": "316289531",
> "baseBorrowAPR": "1768458020",
> "govSupplySpeed": "791937472718253968",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "420558449074074",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "xcKSM": {
> "price": "28.42756191",
> "totalSuppliedUnderlying": "32631.776170611567999892885749415324",
> "totalSuppliedTVL": "927641.83732332307187912988301006086931270884",
> "totalBorrows": "7971.672099136598",
> "totalBorrowedTVL": "226615.20212442529719178218",
> "utilization": "0.24429170074768862982",
> "baseSupplyAPR": "329090545",
> "baseBorrowAPR": "1796161690",
> "govSupplySpeed": "695359732142857142",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "369270833333333",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "FRAX": {
> "price": "0.99895588",
> "totalSuppliedUnderlying": "642439.855362286200580614998309498778788125",
> "totalSuppliedTVL": "641769.071060505330312864766577463864923216742925",
> "totalBorrows": "257323.014541104795488192",
> "totalBorrowedTVL": "257054.33843516213714912686896896",
> "utilization": "0.40054024107205271904",
> "baseSupplyAPR": "216209430",
> "baseBorrowAPR": "635052386",
> "govSupplySpeed": "444257606646825396",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "235923032407407",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> }
> },
> "totalTVL": "2709226.6803935939292265420945329324286999226875132",
> "govRewardSplits": {
> "MOVR": 0.42,
> "xcKSM": 0.34,
> "FRAX": 0.24
> },
> "nativeRewardSplits": {
> "MOVR": 0.42,
> "xcKSM": 0.34,
> "FRAX": 0.24
> }
> },
> "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": 250000
> },
> "responses": {
> "name": "Curly",
> "network": "Moonriver",
> "mipNumber": "R09",
> "componentSplits": {
> "ALL_MARKETS": 0.3,
> "SAFETY_MODULE": 0.33,
> "DEX_REWARDER": 0.37
> },
> "emissionAmounts": {
> "0": 15576058,
> "1": 2481.5
> },
> "submitterWallet": "0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36"
> }
> }
> ```