MIP-R33: Moonriver Markets Reward Suspension
Summary
This proposal disables reward emissions to both borrowers and suppliers on Moonriver markets that are currently operating in withdraw/repay-only mode. These markets no longer accept new supply or borrow activity, and continuing emissions provides no meaningful benefit. The following markets will be affected: xcKSM, MOVR, and FRAX.
Reward emissions will be turned off until further notice. The Moonwell Foundation will separately handle any reward shortfall through a one-time treasury top-up.
Background
Moonriver markets have been set to withdraw/repay-only mode due to oracle deprecation, risk mitigation, or migration preparation. In this restricted state:
- Users cannot open new supply positions
- Users cannot initiate new borrows
- Only withdrawals and loan repayments are enabled
- No active lending or borrowing activity is taking place
Despite this, rewards have continued emitting, even though incentives no longer drive usage or serve their intended purpose. Emissions on inactive markets are inefficient and create administrative overhead.
Again, the following markets will be affected:
- xcKSM
- MOVR
- FRAX
Source:
Chainlink Documentation — Deprecation of Moonriver Data Feeds
Proposal
The proposal enacts the following changes on Moonriver:
1. Turn Off Reward Emissions
All reward emissions for Moonriver markets currently in withdraw/repay-only mode will be set to 0.
This applies to all affected markets where supply/borrow is disabled and only unwinding is possible.
Rationale
Reward emissions on markets that are restricted to withdraw/repay-only mode no longer serve their intended purpose, as users cannot supply or borrow in ways that incentives were designed to encourage. Continuing to emit in this state provides no benefit to the protocol, creates unnecessary treasury expenditure, and generates confusion within the user interface by displaying incentives on inactive markets. Disabling emissions is therefore a straightforward, action that preserves treasury resources, and simplifies contributor operations.
Voting Options
- Yes — Disable reward emissions for Moonriver markets currently in withdraw/repay-only mode.
- No — Maintain current reward emissions on these inactive markets.
- Abstain — No preference.