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executedEnded 3 years ago ·  Onchain

MIP-42 Rebalancing of Moonriver Token Liquidity Incentives

By 0x87E1...ad9e84

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

  • Submitter: Fechuky
  • Generator Version: 1.0.11
  • Generated At: Fri, 14 Apr 2023 00:43:41 GMT
  • Network: Moonriver
  • Block Height: 4,030,935

The submitter (Fechuky), as part of this proposal, will get 100,000 MFAM sent to their wallet at 0x87E1e08eDAfD16346d8328e2CF260ff8Bdad9e84.

Safety Module

At the time this proposal was generated there was 164,477,417 MFAM staked in the Safety Module, with a valuation of $293,383.94 (based on a MFAM price of $0.001784 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 = ~40.77%):
    • 2.1247 MFAM / second
    • 183,574.97 MFAM / day
    • 5,140,099.14 MFAM / reward cycle (28 days)

  • Proposed (estimated APR = ~40.77%):
    • 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 90,156,783 MFAM and 18,634 MOVR provided by liquidity providers in the SolarBeam MFAM/MOVR pool totaling $321,631.42.

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, 21 Apr 2023 03:30:00 GMT

Proposed rewards will expire at Fri, 19 May 2023 03:30:00 GMT

  • Current (estimated APR = ~41.69%) days:
    • 2.3823 MFAM / second
    • 205,826.57 MFAM / day
    • 5,763,144.00 MFAM / reward cycle (28 days)

  • Proposed (estimated APR = ~41.69%):
    • 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.

USDC.multi Market

Latest price$1.0000
Supplied7,687,137.84 USDC.multi
Borrowed4,755,717.50 USDC.multi
Supplied TVL$7,686,891.86
Borrowed TVL$4,755,565.32
Utilization61.87%
MFAM Incentive Share46%
MOVR Incentive Share46%
Estimated APRsCurrentProposed
Supply Side12.21%11.73%
Borrow Side-8.53%-8.53%

MFAM Incentives

CurrentProposed
Supply Side0.9465 MFAM / sec0.8885 MFAM / sec
-6.52%81,774.30 MFAM / day76,767.71 MFAM / day
2,289,680.53 MFAM / cycle*2,149,496.00 MFAM / cycle*
Borrow Side0 MFAM / sec0 MFAM / sec
+0%0 MFAM / day0 MFAM / day
0 MFAM / cycle*0 MFAM / cycle*

MOVR Incentives

CurrentProposed
Supply Side0.0020 MOVR / sec0.0019 MOVR / sec
-6.52%173.70 MOVR / day163.07 MOVR / day
4,863.74 MOVR / cycle*4,565.96 MOVR / cycle*
Borrow Side0 MOVR / sec0 MOVR / sec
+0%0 MOVR / day0 MOVR / day
0 MOVR / cycle*0 MOVR / cycle*

* Reward cycle is 28 days long

ETH.multi Market

Latest price$2,096.33
Supplied2,153.28 ETH.multi
Borrowed1,131.24 ETH.multi
Supplied TVL$4,513,989.30
Borrowed TVL$2,371,453.01
Utilization52.54%
MFAM Incentive Share27%
MOVR Incentive Share27%
Estimated APRsCurrentProposed
Supply Side8.60%10.23%
Borrow Side-7.52%-7.52%

MFAM Incentives

CurrentProposed
Supply Side0.4056 MFAM / sec0.5215 MFAM / sec
+22.22%35,046.13 MFAM / day45,059.31 MFAM / day
981,291.65 MFAM / cycle*1,261,660.70 MFAM / cycle*
Borrow Side0 MFAM / sec0 MFAM / sec
+0%0 MFAM / day0 MFAM / day
0 MFAM / cycle*0 MFAM / cycle*

MOVR Incentives

CurrentProposed
Supply Side0.0009 MOVR / sec0.0011 MOVR / sec
+22.22%74.44 MOVR / day95.72 MOVR / day
2,084.46 MOVR / cycle*2,680.02 MOVR / cycle*
Borrow Side0 MOVR / sec0 MOVR / sec
+0%0 MOVR / day0 MOVR / day
0 MOVR / cycle*0 MOVR / cycle*

* Reward cycle is 28 days long

MOVR Market

Latest price$8.63
Supplied213,301.81 MOVR
Borrowed79,721.03 MOVR
Supplied TVL$1,840,815.98
Borrowed TVL$688,000.47
Utilization37.37%
MFAM Incentive Share11%
MOVR Incentive Share11%
Estimated APRsCurrentProposed
Supply Side9.61%8.94%
Borrow Side-5.90%-5.90%

MFAM Incentives

CurrentProposed
Supply Side0.2318 MFAM / sec0.2125 MFAM / sec
-9.09%20,026.36 MFAM / day18,357.50 MFAM / day
560,738.09 MFAM / cycle*514,009.91 MFAM / cycle*
Borrow Side0 MFAM / sec0 MFAM / sec
+0%0 MFAM / day0 MFAM / day
0 MFAM / cycle*0 MFAM / cycle*

MOVR Incentives

CurrentProposed
Supply Side0.0005 MOVR / sec0.0005 MOVR / sec
-9.09%42.54 MOVR / day39.00 MOVR / day
1,191.12 MOVR / cycle*1,091.86 MOVR / cycle*
Borrow Side0 MOVR / sec0 MOVR / sec
+0%0 MOVR / day0 MOVR / day
0 MOVR / cycle*0 MOVR / cycle*

* Reward cycle is 28 days long

xcKSM Market

Latest price$35.88
Supplied32,461.03 xcKSM
Borrowed8,996.41 xcKSM
Supplied TVL$1,164,639.61
Borrowed TVL$322,774.03
Utilization27.71%
MFAM Incentive Share7%
MOVR Incentive Share7%
Estimated APRsCurrentProposed
Supply Side8.36%8.36%
Borrow Side-4.89%-4.89%

MFAM Incentives

CurrentProposed
Supply Side0.1352 MFAM / sec0.1352 MFAM / sec
+0.00%11,682.04 MFAM / day11,682.04 MFAM / day
327,097.22 MFAM / cycle*327,097.22 MFAM / cycle*
Borrow Side0 MFAM / sec0 MFAM / sec
+0%0 MFAM / day0 MFAM / day
0 MFAM / cycle*0 MFAM / cycle*

MOVR Incentives

CurrentProposed
Supply Side0.0003 MOVR / sec0.0003 MOVR / sec
+0.00%24.81 MOVR / day24.82 MOVR / day
694.82 MOVR / cycle*694.82 MOVR / cycle*
Borrow Side0 MOVR / sec0 MOVR / sec
+0%0 MOVR / day0 MOVR / day
0 MOVR / cycle*0 MOVR / cycle*

* Reward cycle is 28 days long

FRAX Market

Latest price$1.00
Supplied869,144.83 FRAX
Borrowed696,266.62 FRAX
Supplied TVL$869,421.04
Borrowed TVL$696,487.89
Utilization80.11%
MFAM Incentive Share5%
MOVR Incentive Share5%
Estimated APRsCurrentProposed
Supply Side17.00%14.18%
Borrow Side-10.65%-10.65%

MFAM Incentives

CurrentProposed
Supply Side0.1352 MFAM / sec0.0966 MFAM / sec
-40.00%11,682.04 MFAM / day8,344.32 MFAM / day
327,097.22 MFAM / cycle*233,640.87 MFAM / cycle*
Borrow Side0 MFAM / sec0 MFAM / sec
+0%0 MFAM / day0 MFAM / day
0 MFAM / cycle*0 MFAM / cycle*

MOVR Incentives

CurrentProposed
Supply Side0.0003 MOVR / sec0.0002 MOVR / sec
-40.00%24.81 MOVR / day17.72 MOVR / day
694.82 MOVR / cycle*496.30 MOVR / cycle*
Borrow Side0 MOVR / sec0 MOVR / sec
+0%0 MOVR / day0 MOVR / day
0 MOVR / cycle*0 MOVR / cycle*

* Reward cycle is 28 days long

USDT.multi Market

Latest price$1.00
Supplied517,655.81 USDT.multi
Borrowed271,910.22 USDT.multi
Supplied TVL$518,194.91
Borrowed TVL$272,193.39
Utilization52.53%
MFAM Incentive Share4%
MOVR Incentive Share4%
Estimated APRsCurrentProposed
Supply Side12.75%12.75%
Borrow Side-7.52%-7.52%

MFAM Incentives

CurrentProposed
Supply Side0.0773 MFAM / sec0.0773 MFAM / sec
+0.00%6,675.45 MFAM / day6,675.45 MFAM / day
186,912.70 MFAM / cycle*186,912.70 MFAM / cycle*
Borrow Side0 MFAM / sec0 MFAM / sec
+0%0 MFAM / day0 MFAM / day
0 MFAM / cycle*0 MFAM / cycle*

MOVR Incentives

CurrentProposed
Supply Side0.0002 MOVR / sec0.0002 MOVR / sec
+0.00%14.18 MOVR / day14.18 MOVR / day
397.04 MOVR / cycle*397.04 MOVR / cycle*
Borrow Side0 MOVR / sec0 MOVR / sec
+0%0 MOVR / day0 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).

DEX LP - Solarbeam’s MFAM/MOVR farm (Solarbeam - The DEX on Moonriver, powered by SOLAR).

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: 98b3b480ecd05f4fec17129c50d01ea22605f3665702498b19c6b8a9ce97983c

Proposal Config 
{
  "_meta": {
    "generatedAt": "2023-04-14T00:39:20.775Z",
    "generatorVersion": "1.0.11"
  },
  "snapshotBlock": 4030935,
  "safetyModuleInfo": {
    "totalStaked": "164477416.863286762142684885",
    "stakedTVL": "293383.940883458737168334924032959804319457792143541",
    "govTokenPrice": "0.0017837338795715570564945866",
    "emissions": {
      "emissionsPerSecond": "2.124710292658730158",
      "lastUpdateTimestamp": 1681431006,
      "emissionAPR": "40.765935415522468403",
      "emissionsPerYear": "67050757.5316071428341008"
    }
  },
  "dexInfo": {
    "govTokenTotal": "90156782.970294533555479179",
    "nativeAssetTotal": "18634.280998324140535479",
    "govTokenPrice": "0.0017837338795715570564945866",
    "nextFreeSlot": 27,
    "emissionsPerYear": "75178155.2142857142546576",
    "poolTVL": "321631.4165145887108609292660146941075683273825124014",
    "currentPoolAPR": "41.693011184225551411",
    "currentPoolRewardInfo": {
      "startTimestamp": 1679628600,
      "endTimestamp": 1682047800,
      "rewardPerSec": "2.382251984126984126"
    }
  },
  "marketData": {
    "assets": {
      "USDC.multi": {
        "price": "0.999968",
        "totalSuppliedUnderlying": "7687137.844284965125972305466284",
        "totalSuppliedTVL": "7686891.855873948007088274352509078912",
        "totalBorrows": "4755717.503028",
        "totalBorrowedTVL": "4755565.320067903104",
        "utilization": "0.61865906392763050626",
        "baseSupplyAPR": "1365107249",
        "baseBorrowAPR": "2595950861",
        "govSupplySpeed": "946461857638888888",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "2010474537037037",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "ETH.multi": {
        "price": "2096.3334",
        "totalSuppliedUnderlying": "2153.278338079811733297999991841448475638",
        "totalSuppliedTVL": "4513989.2996132012022244895360969559438590257092",
        "totalBorrows": "1131.238480441966708207",
        "totalBorrowedTVL": "2371453.0099157415721023882138",
        "utilization": "0.52535636496057905642",
        "baseSupplyAPR": "906275168",
        "baseBorrowAPR": "2300089943",
        "govSupplySpeed": "405626510416666666",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "861631944444444",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "MOVR": {
        "price": "8.63009999",
        "totalSuppliedUnderlying": "213301.81314688544174998999930136952584955",
        "totalSuppliedTVL": "1840815.9755059179193777342754708491520205061965045",
        "totalBorrows": "79721.030757611901076168",
        "totalBorrowedTVL": "688000.46674405615990131844603832",
        "utilization": "0.37374755320393749593",
        "baseSupplyAPR": "509980840",
        "baseBorrowAPR": "1819341555",
        "govSupplySpeed": "231786577380952380",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "492361111111111",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "xcKSM": {
        "price": "35.87808174",
        "totalSuppliedUnderlying": "32461.03336621028199990907927874804",
        "totalSuppliedTVL": "1164639.6084777598516211886189310624239847896",
        "totalBorrows": "8996.412632537141",
        "totalBorrowedTVL": "322774.02779693612838390534",
        "utilization": "0.27714498583713579237",
        "baseSupplyAPR": "314493769",
        "baseBorrowAPR": "1513016823",
        "govSupplySpeed": "135208836805555555",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "287210648148148",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "FRAX": {
        "price": "1.0003178",
        "totalSuppliedUnderlying": "869144.82509960678932996199860226294990254",
        "totalSuppliedTVL": "869421.039325023444367611060525418749068019027212",
        "totalBorrows": "696266.620119037391511418",
        "totalBorrowedTVL": "696487.8936509112215944403286404",
        "utilization": "0.80109390289385086069",
        "baseSupplyAPR": "2184959766",
        "baseBorrowAPR": "3208788499",
        "govSupplySpeed": "135208836805555555",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "287210648148148",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "USDT.multi": {
        "price": "1.00104142",
        "totalSuppliedUnderlying": "517655.8129669994087990629317",
        "totalSuppliedTVL": "518194.910083739501323374451818331014",
        "totalBorrows": "271910.222115",
        "totalBorrowedTVL": "272193.3948585150033",
        "utilization": "0.52527222780812140529",
        "baseSupplyAPR": "1026828243",
        "baseBorrowAPR": "2299823146",
        "govSupplySpeed": "77262192460317460",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "164120370370370",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      }
    },
    "totalTVL": "16593952.6888795899260026722953516961949323405329165",
    "govRewardSplits": {
      "USDC.multi": 0.46,
      "ETH.multi": 0.27,
      "MOVR": 0.11,
      "xcKSM": 0.07,
      "FRAX": 0.05,
      "USDT.multi": 0.04
    },
    "nativeRewardSplits": {
      "USDC.multi": 0.46,
      "ETH.multi": 0.27,
      "MOVR": 0.11,
      "xcKSM": 0.07,
      "FRAX": 0.05,
      "USDT.multi": 0.04
    }
  },
  "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": 100000
  },
  "responses": {
    "name": "Fechuky",
    "network": "Moonriver",
    "mipNumber": 42,
    "componentSplits": {
      "ALL_MARKETS": 0.3,
      "SAFETY_MODULE": 0.33,
      "DEX_REWARDER": 0.37
    },
    "emissionAmounts": {
      "0": 15576058,
      "1": 9926
    },
    "submitterWallet": "0x87E1e08eDAfD16346d8328e2CF260ff8Bdad9e84"
  }
}
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0x393C...850566
11.24M

FOR

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10M

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Proposal Status
  • Fri April 14 2023, 01:58 amPublished Onchain Fechuky
  • Fri April 14 2023, 01:59 amVoting Period Starts
  • Mon April 17 2023, 01:59 amEnd Voting Period
  • Mon April 17 2023, 02:00 amQueue Proposal
  • Tue April 18 2023, 04:02 amExecute Proposal
Current Results

1-FOR

50.751M

83.54%

2-ABSTAIN

10M

16.46%

3-AGAINST

N/A Tokens

0%
Quorum 60.751M/52.786M
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