Hi Guys
In times like these, solidarity is all the more important, we just experienced a lot of things that we didn’t expect
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
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
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 )