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executedEnded 2 years ago · Onchain

MIP-R14 Rebalancing of Moonriver Token Liquidity Incentives

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

Submitter: Curly
Generator Version: 1.0.25
Generated At: Wed, 13 Mar 2024 06:54:19 GMT
Network: Moonriver
Block Height: 6,328,572

The submitter (Curly), as part of this proposal, will get 250,000 MFAM sent to their wallet at 0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36.

Safety Module

At the time this proposal was generated there was 333,658,948 MFAM staked in the Safety Module, with a valuation of $811,818.99 (based on a MFAM price of $0.002433 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 = ~9.50%):
- 1.0050 MFAM / second
- 86,828.95 MFAM / day
- 2,431,210.65 MFAM / reward cycle (28 days)
Proposed (estimated APR = ~9.50%):
- 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 65,408,464 MFAM and 5,688 MOVR provided by liquidity providers in the SolarBeam MFAM/MOVR pool totaling $318,288.08.

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, 22 Mar 2024 03:30:00 GMT

Proposed rewards will expire at Fri, 19 Apr 2024 03:30:00 GMT

Current (estimated APR = ~27.18%) days:
- 1.1268 MFAM / second
- 97,353.75 MFAM / day
- 2,725,905.00 MFAM / reward cycle (28 days)
Proposed (estimated APR = ~27.18%):
- 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	$27.98
Supplied	150,000.47 MOVR
Borrowed	15,343.57 MOVR
Supplied TVL	$4,196,557.99
Borrowed TVL	$429,266.47
Utilization	10.23%
MFAM Incentive Share	55%
MOVR Incentive Share	55%

Estimated APRs	Current	Proposed
Supply Side	8.31%	8.31%
Borrow Side	-3.60%	-3.60%

MFAM Incentives

	Current	Proposed
Supply Side	0.5025 MFAM / sec	0.5025 MFAM / sec
+0.00%	43,414.48 MFAM / day	43,414.48 MFAM / day
	1,215,605.32 MFAM / cycle*	1,215,605.32 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
+0.00%	29.25 MOVR / day	29.25 MOVR / day
	818.89 MOVR / cycle*	818.90 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	$58.73
Supplied	39,049.50 xcKSM
Borrowed	7,797.85 xcKSM
Supplied TVL	$2,293,214.38
Borrowed TVL	$457,935.18
Utilization	19.97%
MFAM Incentive Share	36%
MOVR Incentive Share	36%

Estimated APRs	Current	Proposed
Supply Side	10.38%	10.38%
Borrow Side	-5.12%	-5.12%

MFAM Incentives

	Current	Proposed
Supply Side	0.3289 MFAM / sec	0.3289 MFAM / sec
+0.00%	28,416.75 MFAM / day	28,416.75 MFAM / day
	795,668.94 MFAM / cycle*	795,668.94 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
+0.00%	19.14 MOVR / day	19.14 MOVR / day
	536.00 MOVR / cycle*	536.00 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	$0.9975
Supplied	448,859.06 FRAX
Borrowed	407,012.44 FRAX
Supplied TVL	$447,732.13
Borrowed TVL	$405,990.57
Utilization	90.68%
MFAM Incentive Share	9%
MOVR Incentive Share	9%

Estimated APRs	Current	Proposed
Supply Side	39.00%	39.00%
Borrow Side	-35.91%	-35.91%

MFAM Incentives

	Current	Proposed
Supply Side	0.0822 MFAM / sec	0.0822 MFAM / sec
+0.00%	7,104.19 MFAM / day	7,104.19 MFAM / day
	198,917.23 MFAM / cycle*	198,917.23 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	0.0001 MOVR / sec
+0.00%	4.79 MOVR / day	4.79 MOVR / day
	134.00 MOVR / cycle*	134.00 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).

DEX LP - Solarbeamâs 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: d3e0189be0f81a182df36407ce28784c623766d2d61a50b1fa7fdba3e3fc62f2

Proposal Config

{
  "_meta": {
    "generatedAt": "2024-03-13T06:50:15.189Z",
    "generatorVersion": "1.0.25"
  },
  "snapshotBlock": 6328572,
  "safetyModuleInfo": {
    "totalStaked": "333658948.276261587284323825",
    "stakedTVL": "811818.98861453666694077354469229142775202173706091",
    "govTokenPrice": "0.0024330802240087685652776588",
    "emissions": {
      "emissionsPerSecond": "1.004964719742063492",
      "lastUpdateTimestamp": 1710309366,
      "emissionAPR": "9.504997484279512244",
      "emissionsPerYear": "31714274.6397321428551392"
    }
  },
  "dexInfo": {
    "govTokenTotal": "65408463.833015804221697979",
    "nativeAssetTotal": "5688.395116295675947731",
    "govTokenPrice": "0.0024330802240087685652776588",
    "nextFreeSlot": 39,
    "emissionsPerYear": "35558457.1874999999719488",
    "poolTVL": "318288.0796698070646524532241294710977204617298115652",
    "currentPoolAPR": "27.181847045268313292",
    "currentPoolRewardInfo": {
      "startTimestamp": 1708659000,
      "endTimestamp": 1711078200,
      "rewardPerSec": "1.126779513888888888"
    }
  },
  "marketData": {
    "assets": {
      "MOVR": {
        "price": "27.97696654",
        "totalSuppliedUnderlying": "150000.46503235626748202799972502621646093",
        "totalSuppliedTVL": "4196557.9911946713127039873996501876585502358272822",
        "totalBorrows": "15343.567412511461647343",
        "totalBorrowedTVL": "429266.47210406753987420839090322",
        "utilization": "0.10229013229526811644",
        "baseSupplyAPR": "85980149",
        "baseBorrowAPR": "1120735661",
        "govSupplySpeed": "502482359871031746",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "338498263888888",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "xcKSM": {
        "price": "58.7258345",
        "totalSuppliedUnderlying": "39049.498324101959999881423458121188",
        "totalSuppliedTVL": "2293214.375889239064078656493626042567431386",
        "totalBorrows": "7797.848777548165",
        "totalBorrowedTVL": "457935.1767663208535686925",
        "utilization": "0.1996913945687033576",
        "baseSupplyAPR": "237236630",
        "baseBorrowAPR": "1584021726",
        "govSupplySpeed": "328897544642857142",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "221562500000000",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "FRAX": {
        "price": "0.99748934",
        "totalSuppliedUnderlying": "448859.058576072212323600999240212494444217",
        "totalSuppliedTVL": "447732.12609206761086300862715546006254291568214678",
        "totalBorrows": "407012.442113010165940467",
        "totalBorrowedTVL": "405990.57225509471583724690712178",
        "utilization": "0.90677114416312950256",
        "baseSupplyAPR": "7501469052",
        "baseBorrowAPR": "9732618607",
        "govSupplySpeed": "82224386160714285",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "55390625000000",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      }
    },
    "totalTVL": "6937504.49317597798764565252043169028852453750942898",
    "govRewardSplits": {
      "MOVR": 0.55,
      "xcKSM": 0.36,
      "FRAX": 0.09
    },
    "nativeRewardSplits": {
      "MOVR": 0.55,
      "xcKSM": 0.36,
      "FRAX": 0.09
    }
  },
  "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": 250000
  },
  "responses": {
    "name": "Curly",
    "network": "Moonriver",
    "mipNumber": "R14",
    "componentSplits": {
      "ALL_MARKETS": 0.3,
      "SAFETY_MODULE": 0.33,
      "DEX_REWARDER": 0.37
    },
    "emissionAmounts": {
      "0": 7367305,
      "1": 1488.9
    },
    "submitterWallet": "0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36"
  }
}

Connect Wallet to Add Note

Votes 13

Voter	Cast Power	Vote & Rationale
0x0515...C4258b	22.613M	FOR
0x5565...0E4E71	10.332M	FOR
0x80f3...f04e06	9.559M	FOR
0x9F94...155f36	1.838M	FOR
0xdF1d...6E9b3f	1.506M	FOR

VOTE POWER

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Proposal Status

Wed March 13 2024, 07:04 amPublished Onchain 0x9F94...155f36
Wed March 13 2024, 07:05 amVoting Period Starts
Sat March 16 2024, 07:05 amEnd Voting Period
Sat March 16 2024, 07:39 amQueue Proposal
Sun March 17 2024, 10:22 amExecute Proposal

Current Results

1-FOR

46.487M

2-AGAINST

N/A Tokens

3-ABSTAIN

N/A Tokens

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MIP-R14 Rebalancing of Moonriver Token Liquidity Incentives

Safety Module

DEX Liquidity Pool Rewarder

Core Protocol Rewards

MOVR Market

MFAM Incentives

MOVR Incentives

xcKSM Market

MFAM Incentives

MOVR Incentives

FRAX Market

MFAM Incentives

MOVR Incentives

Definitions

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