Moonriver Family $MFAM

Hi Guys

In times like these, solidarity is all the more important, we just experienced a lot of things that we didn’t expect :frowning:
MB foundation & Moonriver have supported Moonwell since day one and i feel like we should give something back!

my proposal is basically to deploy some of the apollo protocol reserves to moonriver:

Apollo Protocol Reserves:

MOVR: 18’830

KSM: 1’732

FRAX: 218’800

USDT: 89’800

USDC: 268’800

ETH: 68

BTC: 0.75

currently these are the protocol reserves with a value of ca. $870k

From this $870k, are $672k in bridged assets ( inkl. Frax )

From this $870k, are $577k in stable coins

My proposal and i’m really open to discuss it, would be to exchange/swap some of the stablecoins to MOVR & KSM !

Just some Numbers in $ Value;

25% from Frax → 54’700$

35% from USDT → 31’430$

35% from USDC → 94’080$

85% from ETH → 70’890$

85% from BTC → 10’540$

= 261’640$ ( the amount that would be exchanged/swapped into MOVR & KSM )

from my opinion the protocol would be still very healthy in terms of reserves if we would exchange/swap this to movr & ksm, ( MOVR, KSM 50/50 Ratio )

Pro’s ;

  • its Defi & Dao
  • MB & Moonriver Com. attention to Apollo & Artemis
  • MFAM Holder would be a big holder of MOVR &KSM
  • Future usecases as a big Holder ( eg. Rewards, future of staking module )
  • less risk bc of bridged assets
  • Solidarity to Beamriver and Dotsama
  • price action
  • frontrun Artemis :wink:

Con’s;

  • less stablecoins
  • price action Movr & Ksm
  • expenses

I’d appreciate if someone could bring up other pros and cons, I might be totally wrong, but it’s a start…

Mfam/Apollo was always community first and build for some experimental things, we are now in a special situation, lets try it and move forward!

appreciate your opinion :slight_smile:

Ps. ( this is just a start, if you like it you can expand this idea with automations from oak/turing and other protocols to show the power of dotsama )

Hello FiatAgain,
Using reverved asset have a great risk of protocol insolvency. If deposited assets are spent otherwise, not many whales will be interested in depositing.

Hi Parkhodu,

i didn’t mean the deposited assets, of course not, we are not FTX :))

bellow you see the protocol owned assets, like the fee’s apollo already generated

Apollo Protocol Reserves:

MOVR: 18’830

KSM: 1’732

FRAX: 218’800

USDT: 89’800

USDC: 268’800

ETH: 68

BTC: 0.75

and from this part i would exchange some of the stablecoins in MOVR&KSM, they are still protocol owned, only difference is that the protocol reserves are more balanced out between stablecoins, MOVR & KSM.

you see it now at artemis, artemis holds $127k in bridged assets as protocol reserves and they are now worthless. its less risk with holding native assets in the reserves.

cheers

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我補充一下
(GMT+8)

2022/11/18 20:16
usdc 268800 1 $268,800.00
frax 218800 1 $218,800.00
MOVR 18830 7.99 $150,451.70
usdt 89800 1 $89,800.00
eth 68 1218.87 $82,883.16
KSM 1732 24.51 $42,451.32
btc 0.75 16766.5 $12,574.88

這樣看來協議持有的MOVR價值,比ETH+KSM+BTC還多
可能穩定幣(USDC、FRAX)的部分可以再跟xcUSDT平衡一下 :innocent:

Hi @jgTral

Yes, Apollo holds already a lot of MOVR.

2022/11/18 20:16
usdc 268800 1 $268,800.00
frax 218800 1 $218,800.00
MOVR 18830 7.99 $150,451.70
usdt 89800 1 $89,800.00
eth 68 1218.87 $82,883.16
KSM 1732 24.51 $42,451.32
btc 0.75 16766.5 $12,574.88

USDC, USDT, ETH & BTC are bridged assets, only native assets are MOVR, KSM & Frax.

From a Total of $866k in apollo reserves are $455k in bridged assets or 52.5%

I would suggest that this value should not be higher than 25%
that would mean distributing at least $240k of the $455k to the following assets Movr, Ksm & Frax.

Hi FiatAgain
我對橋接資產也有些擔憂,上次nomad 我也持有一些USDC.mad
(目前 USDC.mad 1=0.3685)
若是apollo 減少橋接資產儲備,我晚上會睡得比較好 :+1:

另外,native USDT 要佔一些比例嗎~~~

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