Moonwell

Insights Proposals Discussions Members Information Reports Meetings

executedEnded 2 years ago · Onchain

MIP-R21 Rebalancing of Moonriver Token Liquidity Incentives

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

Submitter: Curly
Generator Version: 1.0.41
Generated At: Thu, 04 Jul 2024 14:33:54 GMT
Network: Moonriver
Block Height: 7,183,843

The submitter (Curly), as part of this proposal, will get 150,000 MFAM sent to their wallet at 0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36.

Safety Module

At the time this proposal was generated there was 362,431,415 MFAM staked in the Safety Module, with a valuation of $425,191.93 (based on a MFAM price of $0.001173 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 = ~8.75%):
- 1.0050 MFAM / second
- 86,828.95 MFAM / day
- 2,431,210.65 MFAM / reward cycle (28 days)
Proposed (estimated APR = ~8.75%):
- 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 54,562,104 MFAM and 6,622 MOVR provided by liquidity providers in the SolarBeam MFAM/MOVR pool totaling $128,020.72.

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, 12 Jul 2024 03:30:00 GMT

Proposed rewards will expire at Fri, 09 Aug 2024 03:30:00 GMT

Current (estimated APR = ~32.59%) days:
- 1.1268 MFAM / second
- 97,353.75 MFAM / day
- 2,725,905.00 MFAM / reward cycle (28 days)
Proposed (estimated APR = ~32.59%):
- 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	$9.67
Supplied	162,044.67 MOVR
Borrowed	13,144.15 MOVR
Supplied TVL	$1,566,381.54
Borrowed TVL	$127,056.08
Utilization	8.11%
MFAM Incentive Share	67%
MOVR Incentive Share	67%

Estimated APRs	Current	Proposed
Supply Side	10.06%	9.64%
Borrow Side	-3.27%	-3.27%

MFAM Incentives

	Current	Proposed
Supply Side	0.6395 MFAM / sec	0.6121 MFAM / sec
-4.48%	55,254.79 MFAM / day	52,886.73 MFAM / day
	1,547,134.05 MFAM / cycle*	1,480,828.30 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	0.0004 MOVR / sec	0.0004 MOVR / sec
-4.48%	37.20 MOVR / day	35.61 MOVR / day
	1,041.60 MOVR / cycle*	996.96 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	$21.11
Supplied	29,542.12 xcKSM
Borrowed	8,213.19 xcKSM
Supplied TVL	$623,674.03
Borrowed TVL	$173,391.48
Utilization	27.80%
MFAM Incentive Share	27%
MOVR Incentive Share	27%

Estimated APRs	Current	Proposed
Supply Side	9.74%	10.45%
Borrow Side	-4.90%	-4.90%

MFAM Incentives

	Current	Proposed
Supply Side	0.2284 MFAM / sec	0.2467 MFAM / sec
+7.41%	19,733.85 MFAM / day	21,312.56 MFAM / day
	552,547.87 MFAM / cycle*	596,751.70 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
+7.41%	13.29 MOVR / day	14.35 MOVR / day
	372.00 MOVR / cycle*	401.76 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	$0.9968
Supplied	135,311.53 FRAX
Borrowed	114,563.32 FRAX
Supplied TVL	$134,873.53
Borrowed TVL	$114,192.48
Utilization	84.67%
MFAM Incentive Share	6%
MOVR Incentive Share	6%

Estimated APRs	Current	Proposed
Supply Side	32.18%	33.82%
Borrow Side	-47.76%	-47.76%

MFAM Incentives

	Current	Proposed
Supply Side	0.0457 MFAM / sec	0.0548 MFAM / sec
+16.67%	3,946.77 MFAM / day	4,736.12 MFAM / day
	110,509.57 MFAM / cycle*	132,611.49 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	0.0000 MOVR / sec	0.0000 MOVR / sec
+16.67%	2.66 MOVR / day	3.19 MOVR / day
	74.40 MOVR / cycle*	89.28 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 - 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: c4d4d02fb8899117c347306a822f63ba1e56b5788f055c2e2b824985ac9f050d

Proposal Config

{
  "_meta": {
    "generatedAt": "2024-07-04T14:31:20.529Z",
    "generatorVersion": "1.0.41"
  },
  "snapshotBlock": 7183843,
  "safetyModuleInfo": {
    "totalStaked": "362431415.072540436073624096",
    "stakedTVL": "425191.9316830625078187146395953994667438766321388608",
    "govTokenPrice": "0.0011731652224406667148223298",
    "emissions": {
      "emissionsPerSecond": "1.004964719742063492",
      "lastUpdateTimestamp": 1720093938,
      "emissionAPR": "8.750420995758480072",
      "emissionsPerYear": "31714274.6397321428551392"
    }
  },
  "dexInfo": {
    "govTokenTotal": "54562103.639753675068125192",
    "nativeAssetTotal": "6621.974134539864791238",
    "govTokenPrice": "0.0011731652224406667148223298",
    "nextFreeSlot": 43,
    "emissionsPerYear": "35558457.1874999999719488",
    "poolTVL": "128020.7249067246623536486842293049901672954635123216",
    "currentPoolAPR": "32.585306298190715666",
    "currentPoolRewardInfo": {
      "startTimestamp": 1718335800,
      "endTimestamp": 1720755000,
      "rewardPerSec": "1.126779513888888888"
    }
  },
  "marketData": {
    "assets": {
      "MOVR": {
        "price": "9.66635646",
        "totalSuppliedUnderlying": "162044.669885417297480947999948774679050994",
        "totalSuppliedTVL": "1566381.54155547095330070342622891778792900252132124",
        "totalBorrows": "13144.154444494741736227",
        "totalBorrowedTVL": "127056.08222577945821800947747642",
        "utilization": "0.08111438934578377481",
        "baseSupplyAPR": "53779573",
        "baseBorrowAPR": "1020013900",
        "govSupplySpeed": "639523003472222222",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "430555555555555",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "xcKSM": {
        "price": "21.11135",
        "totalSuppliedUnderlying": "29542.11980338130399986966175910012",
        "totalSuppliedTVL": "623674.030911113892197648383777978318362",
        "totalBorrows": "8213.187496467214",
        "totalBorrowedTVL": "173391.4758535431182789",
        "utilization": "0.27801618675742953137",
        "baseSupplyAPR": "273917282",
        "baseBorrowAPR": "1515779383",
        "govSupplySpeed": "228401072668650793",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "153769841269841",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "FRAX": {
        "price": "0.99676299",
        "totalSuppliedUnderlying": "135311.530445850841691745999989744622187308",
        "totalSuppliedTVL": "134873.52566868231805868140127031781894784146213092",
        "totalBorrows": "114563.318822525455898447",
        "totalBorrowedTVL": "114192.47621386375277244916807653",
        "utilization": "0.84666338814615333715",
        "baseSupplyAPR": "6817079731",
        "baseBorrowAPR": "12387231005",
        "govSupplySpeed": "45680214533730158",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "30753968253968",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      }
    },
    "totalTVL": "2324929.09813526716355703321127721392523884398345216",
    "govRewardSplits": {
      "MOVR": 0.67,
      "xcKSM": 0.27,
      "FRAX": 0.06
    },
    "nativeRewardSplits": {
      "MOVR": 0.67,
      "xcKSM": 0.27,
      "FRAX": 0.06
    }
  },
  "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": 150000
  },
  "responses": {
    "name": "Curly",
    "network": "Moonriver",
    "mipNumber": "R21",
    "componentSplits": {
      "ALL_MARKETS": 0.3,
      "SAFETY_MODULE": 0.33,
      "DEX_REWARDER": 0.37
    },
    "emissionAmounts": {
      "0": 7367305,
      "1": 1488
    },
    "submitterWallet": "0x9F94Ff95cbC403cbfC18802eDEAeF71dA8155f36"
  }
}

Connect Wallet to Add Note

Votes 13

Voter	Cast Power	Vote & Rationale
0x4319...f8D250	15.241M	FOR
0x0d70...c2a6Df	15.07M	FOR
0x3453...82ed01	10.86M	FOR
0xdF1d...6E9b3f	4.614M	FOR
0xb757...F417d4	3.869M	FOR

VOTE POWER

Connect Wallet

Proposal Status

Thu July 04 2024, 03:08 pmPublished Onchain 0x9F94...155f36
Thu July 04 2024, 03:09 pmVoting Period Starts
Sun July 07 2024, 03:09 pmEnd Voting Period
Mon July 08 2024, 05:01 amQueue Proposal
Tue July 09 2024, 10:37 amExecute Proposal

Current Results

1-FOR

53.204M

2-AGAINST

N/A Tokens

3-ABSTAIN

N/A Tokens

Documentation Branding Contact Us

Insights

Proposals

Discussions

Members

Information

Reports

Meetings

Moonwell

MIP-R21 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

VOTE POWER

Proposal Status

Current Results