# MIP-R18 Rebalancing of Moonriver Token Liquidity Incentives

**URL:** <https://forum.moonwell.fi/t/mip-r18-rebalancing-of-moonriver-token-liquidity-incentives/927>\
**Category:** Proposals\
**Tags:** mip, moonriver\
**Created:** [May 12, 2024, 1:16am UTC](https://forum.moonwell.fi/t/mip-r18-rebalancing-of-moonriver-token-liquidity-incentives/927 "2024-05-12T01:16:42Z")\
**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:** [May 12, 2024, 1:16am UTC](https://forum.moonwell.fi/t/mip-r18-rebalancing-of-moonriver-token-liquidity-incentives/927/1 "2024-05-12T01:16:43Z")

</div>

# MIP-R18 Rebalancing of Moonriver Token Liquidity Incentives

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

- **Submitter** : Curly
- **Generator Version** : 1.0.33
- **Generated At** : Sun, 12 May 2024 00:20:56 GMT
- **Network** : Moonriver
- **Block Height** : 6,737,465

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 `356,519,021` **MFAM** staked in the **Safety Module** , with a valuation of `$727,292.52` (based on a **MFAM** price of `$0.002040` pulled from **SolarBeam** ).

This proposal, if executed, would adjust the rewards on the **Safety Module** to keep emissions the same and emits `2,431,211` **MFAM** over the next **28 days** :

- Current (estimated APR = `~8.90%`):
  - `1.0050` MFAM / **second**
  - `86,828.95` MFAM / **day**
  - `2,431,210.65` MFAM / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~8.90%`):
  - `1.0050` MFAM / **second**
  - `86,828.95` MFAM / **day**
  - `2,431,210.65` MFAM / **reward cycle (28 days)**

# DEX Liquidity Pool Rewarder

At the time this proposal was generated there were `52,553,778` **MFAM** and `6,655` **MOVR** provided by liquidity providers in the **SolarBeam**  **MFAM** / **MOVR** pool totaling `$214,417.56`.

This proposal, if executed, would adjust the rewards on the **Dex Rewarder** to keep emissions the same and emits `2,725,903` **MFAM** over the next **28 days** :

Current rewards will expire at **Fri, 17 May 2024 03:30:00 GMT**

Proposed rewards will expire at **Fri, 14 Jun 2024 03:30:00 GMT**

- Current (estimated APR = `~33.83%`) days:
  - `1.1268` MFAM / **second**
  - `97,353.75` MFAM / **day**
  - `2,725,905.00` MFAM / **reward cycle (28 days)**  
  
  

- Proposed (estimated APR = `~33.83%`):
  - `1.1268` MFAM / **second**
  - `97,353.67` MFAM / **day**
  - `2,725,902.85` 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 | **$16.11** |
| Supplied | **147,401.60** MOVR |
| Borrowed | **14,564.71** MOVR |
| Supplied TVL | **$2,374,621.30** |
| Borrowed TVL | **$234,635.70** |
| Utilization | **9.88%** |
| MFAM Incentive Share | **56%** |
| MOVR Incentive Share | **56%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **8.83%** | **8.98%** |
| Borrow Side | **-3.54%** | **-3.54%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.5025** MFAM / sec | **0.5116** MFAM / sec |
| +1.79% | **43,414.48** MFAM / day | **44,203.83** MFAM / day |
| | **1,215,605.32** MFAM / cycle\* | **1,237,707.24** 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** | **0.0003** MOVR / sec | **0.0003** MOVR / sec |
| +1.79% | **29.25** MOVR / day | **29.78** MOVR / day |
| | **818.89** MOVR / cycle\* | **833.78** 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 | **$28.09** |
| Supplied | **33,052.80** xcKSM |
| Borrowed | **10,658.24** xcKSM |
| Supplied TVL | **$928,378.50** |
| Borrowed TVL | **$299,365.92** |
| Utilization | **32.25%** |
| MFAM Incentive Share | **38%** |
| MOVR Incentive Share | **38%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **16.19%** | **16.99%** |
| Borrow Side | **-8.82%** | **-8.82%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.3289** MFAM / sec | **0.3472** MFAM / sec |
| +5.26% | **28,416.75** MFAM / day | **29,995.46** MFAM / day |
| | **795,668.94** MFAM / cycle\* | **839,872.77** 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 |
| +5.26% | **19.14** MOVR / day | **20.21** MOVR / day |
| | **536.00** MOVR / cycle\* | **565.78** 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 | **$0.9980** |
| Supplied | **154,681.86** FRAX |
| Borrowed | **122,327.75** FRAX |
| Supplied TVL | **$154,374.52** |
| Borrowed TVL | **$122,084.70** |
| Utilization | **79.08%** |
| MFAM Incentive Share | **6%** |
| MOVR Incentive Share | **6%** |

| **Estimated APRs** | Current | Proposed |
| --- | --- | --- |
| Supply Side | **24.96%** | **17.74%** |
| Borrow Side | **-6.53%** | **-6.53%** |

> #### **MFAM** Incentives

| | Current | Proposed |
| --- | --- | --- |
| **Supply Side** | **0.0822** MFAM / sec | **0.0548** MFAM / sec |
| -50.00% | **7,104.19** MFAM / day | **4,736.12** MFAM / day |
| | **198,917.23** MFAM / cycle\* | **132,611.49** 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 | **0.0000** MOVR / sec |
| -50.00% | **4.79** MOVR / day | **3.19** MOVR / day |
| | **134.00** MOVR / cycle\* | **89.33** 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: `250e5e537fb6b7b6b8daf91212a9ac155633dd241b0ff225af43af70d72bdae2`

> **Proposal Config**
>
> ```
> {
> "_meta": {
> "generatedAt": "2024-05-12T00:10:05.275Z",
> "generatorVersion": "1.0.33"
> },
> "snapshotBlock": 6737465,
> "safetyModuleInfo": {
> "totalStaked": "356519020.802713036713814526",
> "stakedTVL": "727292.5242913402521110946759546721426108741178270904",
> "govTokenPrice": "0.0020399823904312869272592804",
> "emissions": {
> "emissionsPerSecond": "1.004964719742063492",
> "lastUpdateTimestamp": 1715470614,
> "emissionAPR": "8.895535101697105223",
> "emissionsPerYear": "31714274.6397321428551392"
> }
> },
> "dexInfo": {
> "addingNewMarket": false,
> "govTokenTotal": "52553777.82227027965275464",
> "nativeAssetTotal": "6654.848704641207890052",
> "govTokenPrice": "0.0020399823904312869272592804",
> "nextFreeSlot": 41,
> "emissionsPerYear": "35558457.1874999999719488",
> "poolTVL": "214417.562616139352993876740905086142787069364161056",
> "currentPoolAPR": "33.830543360511456067",
> "currentPoolRewardInfo": {
> "startTimestamp": 1713497400,
> "endTimestamp": 1715916600,
> "rewardPerSec": "1.126779513888888888"
> }
> },
> "marketData": {
> "assets": {
> "MOVR": {
> "price": "16.10987508",
> "totalSuppliedUnderlying": "147401.59623252653035719399955198922664939",
> "totalSuppliedTVL": "2374621.3018986010368402231121081224068274798582012",
> "totalBorrows": "14564.71225953097652636",
> "totalBorrowedTVL": "234635.6950771885712300719271088",
> "utilization": "0.09880973226745178741",
> "baseSupplyAPR": "70917504",
> "baseBorrowAPR": "1104181247",
> "govSupplySpeed": "502482359871031746",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "338498263888888",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "xcKSM": {
> "price": "28.08773773",
> "totalSuppliedUnderlying": "33052.804285371625999913003261187984",
> "totalSuppliedTVL": "928378.49800853830666920543841688278281943632",
> "totalBorrows": "10658.24246838575",
> "totalBorrowedTVL": "299365.9191147667624693475",
> "utilization": "0.32246106491795708415",
> "baseSupplyAPR": "561565887",
> "baseBorrowAPR": "2679230497",
> "govSupplySpeed": "328897544642857142",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "221562500000000",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> },
> "FRAX": {
> "price": "0.99801313",
> "totalSuppliedUnderlying": "154681.856898893035576118999389995609617501",
> "totalSuppliedTVL": "154374.52415787633197052387583367760904062027578813",
> "totalBorrows": "122327.745739991929728365",
> "totalBorrowedTVL": "122084.69641181351196294560343245",
> "utilization": "0.79083447918491696981",
> "baseSupplyAPR": "1031259417",
> "baseBorrowAPR": "2006175745",
> "govSupplySpeed": "82224386160714285",
> "govBorrowSpeed": "1",
> "nativeSupplySpeed": "55390625000000",
> "nativeBorrowSpeed": "1",
> "nativeSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> },
> "govSupplyBorrowSplit": {
> "SUPPLY": 1,
> "BORROW": 0
> }
> }
> },
> "totalTVL": "3457374.32406501567547995242635868279868753645398933",
> "govRewardSplits": {
> "MOVR": 0.56,
> "xcKSM": 0.38,
> "FRAX": 0.06
> },
> "nativeRewardSplits": {
> "MOVR": 0.56,
> "xcKSM": 0.38,
> "FRAX": 0.06
> }
> },
> "config": {
> "daysPerRewardCycle": 28,
> "rpc": "https://rpc.api.moonriver.moonbeam.network",
> "govTokenName": "MFAM",
> "nativeTokenName": "MOVR",
> "networkName": "Moonriver",
> "dexName": "SolarBeam",
> "govTokenUniPoolAddress": "0xE6Bfc609A2e58530310D6964ccdd236fc93b4ADB",
> "ecosystemReserve": "0xbA17581Bb6d89954B42fB84294e476e97588908B",
> "treasuryAddress": "0x5d6C4DCb86b8A761C062a5274a77AaD5F7209AA3",
> "dexPoolID": 11,
> "submissionRewardAmount": 150000
> },
> "responses": {
> "name": "Curly",
> "network": "Moonriver",
> "mipNumber": "R18",
> "componentSplits": {
> "ALL_MARKETS": 0.3,
> "SAFETY_MODULE": 0.33,
> "DEX_REWARDER": 0.37
> },
> "emissionAmounts": {
> "0": 7367305,
> "1": 1488.9
> },
> "submitterWallet": "0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36"
> }
> }
> ```