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executedEnded 2 years ago · Onchain

MIP-MIP-R22 Rebalancing of Moonriver Token Liquidity Incentives

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

Submitter: Coolhorsegirl
Generator Version: 1.0.42
Generated At: Wed, 31 Jul 2024 03:03:09 GMT
Network: Moonriver
Block Height: 7,557,404

The submitter (Coolhorsegirl), as part of this proposal, will get 150,000 MFAM sent to their wallet at 0x7F953f11343408eBCcaEcd04eB0D1E6bacDEf87F.

Safety Module

At the time this proposal was generated there was 364,353,497 MFAM staked in the Safety Module, with a valuation of $446,173.88 (based on a MFAM price of $0.001225 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 = ~8.70%):
- 1.0050 MFAM / second
- 86,828.95 MFAM / day
- 2,431,210.65 MFAM / reward cycle (28 days)
Proposed (estimated APR = ~8.70%):
- 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 59,818,381 MFAM and 7,319 MOVR provided by liquidity providers in the SolarBeam MFAM/MOVR pool totaling $146,502.77.

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, 09 Aug 2024 03:30:00 GMT

Proposed rewards will expire at Fri, 06 Sep 2024 03:30:00 GMT

Current (estimated APR = ~29.72%) days:
- 1.1268 MFAM / second
- 97,353.75 MFAM / day
- 2,725,905.00 MFAM / reward cycle (28 days)
Proposed (estimated APR = ~29.72%):
- 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	$10.01
Supplied	157,828.98 MOVR
Borrowed	13,309.90 MOVR
Supplied TVL	$1,579,721.33
Borrowed TVL	$133,219.73
Utilization	8.43%
MFAM Incentive Share	69%
MOVR Incentive Share	69%

Estimated APRs	Current	Proposed
Supply Side	9.91%	1.72%
Borrow Side	-3.32%	-3.32%

MFAM Incentives

	Current	Proposed
Supply Side	0.6121 MFAM / sec	0.6304 MFAM / sec
+2.90%	52,886.73 MFAM / day	54,465.43 MFAM / day
	1,480,828.30 MFAM / cycle*	1,525,032.14 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 MOVR / sec
+0%	35.61 MOVR / day	0 MOVR / day
	996.96 MOVR / cycle*	0 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	$20.83
Supplied	27,832.53 xcKSM
Borrowed	6,879.01 xcKSM
Supplied TVL	$579,615.13
Borrowed TVL	$143,256.16
Utilization	24.72%
MFAM Incentive Share	25%
MOVR Incentive Share	25%

Estimated APRs	Current	Proposed
Supply Side	11.41%	2.24%
Borrow Side	-4.57%	-4.57%

MFAM Incentives

	Current	Proposed
Supply Side	0.2467 MFAM / sec	0.2284 MFAM / sec
-8.00%	21,312.56 MFAM / day	19,733.85 MFAM / day
	596,751.70 MFAM / cycle*	552,547.87 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 MOVR / sec
+0%	14.35 MOVR / day	0 MOVR / day
	401.76 MOVR / cycle*	0 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	$0.9967
Supplied	119,174.35 FRAX
Borrowed	101,775.81 FRAX
Supplied TVL	$118,778.00
Borrowed TVL	$101,437.33
Utilization	85.40%
MFAM Incentive Share	6%
MOVR Incentive Share	6%

Estimated APRs	Current	Proposed
Supply Side	39.39%	29.58%
Borrow Side	-55.55%	-55.55%

MFAM Incentives

	Current	Proposed
Supply Side	0.0548 MFAM / sec	0.0548 MFAM / sec
+0.00%	4,736.12 MFAM / day	4,736.12 MFAM / day
	132,611.49 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 MOVR / sec
+0%	3.19 MOVR / day	0 MOVR / day
	89.28 MOVR / cycle*	0 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: 342ed61fbae6255e5911faf612dd4b5b312bb9d3b92c1ad3ca190c408e65cabe

Proposal Config

{
  "_meta": {
    "generatedAt": "2024-07-31T03:02:42.282Z",
    "generatorVersion": "1.0.42"
  },
  "snapshotBlock": 7557404,
  "safetyModuleInfo": {
    "totalStaked": "364353496.814628647780578516",
    "stakedTVL": "446173.877613373235369618524078392100497145761714348",
    "govTokenPrice": "0.001224563182497387059214303",
    "emissions": {
      "emissionsPerSecond": "1.004964719742063492",
      "lastUpdateTimestamp": 1722356436,
      "emissionAPR": "8.704259713985219905",
      "emissionsPerYear": "31714274.6397321428551392"
    }
  },
  "dexInfo": {
    "govTokenTotal": "59818381.315168919818457239",
    "nativeAssetTotal": "7318.500786116532804783",
    "govTokenPrice": "0.001224563182497387059214303",
    "nextFreeSlot": 44,
    "emissionsPerYear": "35558457.1874999999719488",
    "poolTVL": "146502.774790290969701727200896768403047324942689417",
    "currentPoolAPR": "29.722015545816000842",
    "currentPoolRewardInfo": {
      "startTimestamp": 1720755000,
      "endTimestamp": 1723174200,
      "rewardPerSec": "1.126779513888888888"
    }
  },
  "marketData": {
    "assets": {
      "MOVR": {
        "price": "10.0090701",
        "totalSuppliedUnderlying": "157828.980410963392810400999363740848362588",
        "totalSuppliedTVL": "1579721.3287448594071731396117417375494946135094188",
        "totalBorrows": "13309.900809206502523869",
        "totalBorrowedTVL": "133219.7302233946091372317442169",
        "utilization": "0.08433115879320441269",
        "baseSupplyAPR": "56751018",
        "baseBorrowAPR": "1035314364",
        "govSupplySpeed": "612114874751984126",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "412103174603174",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "xcKSM": {
        "price": "20.8251",
        "totalSuppliedUnderlying": "27832.525804506690999937538757666065",
        "totalSuppliedTVL": "579615.1331314322907427992383822715702315",
        "totalBorrows": "6879.014464611201",
        "totalBorrowedTVL": "143256.1641269747219451",
        "utilization": "0.24715739106571991429",
        "baseSupplyAPR": "227793204",
        "baseBorrowAPR": "1417926784",
        "govSupplySpeed": "246673158482142857",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "166071428571428",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "FRAX": {
        "price": "0.99667424",
        "totalSuppliedUnderlying": "119174.350094497964730148999738770452542674",
        "totalSuppliedTVL": "118778.00480792768717896805940139923932242567651776",
        "totalBorrows": "101775.809272345755308493",
        "totalBorrowedTVL": "101437.32735690015868931822632032",
        "utilization": "0.85400767188278155871",
        "baseSupplyAPR": "7781145832",
        "baseBorrowAPR": "14017430972",
        "govSupplySpeed": "54816257440476190",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "36904761904761",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      }
    },
    "totalTVL": "2278114.46668421938509490690952540835904853918593656",
    "govRewardSplits": {
      "MOVR": 0.69,
      "xcKSM": 0.25,
      "FRAX": 0.06
    },
    "nativeRewardSplits": {
      "MOVR": 0.69,
      "xcKSM": 0.25,
      "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": "Coolhorsegirl",
    "network": "Moonriver",
    "mipNumber": "MIP-R22",
    "componentSplits": {
      "ALL_MARKETS": 0.3,
      "SAFETY_MODULE": 0.33,
      "DEX_REWARDER": 0.37
    },
    "emissionAmounts": {
      "0": 7367305,
      "1": 0
    },
    "submitterWallet": "0x7F953f11343408eBCcaEcd04eB0D1E6bacDEf87F"
  }
}

Connect Wallet to Add Note

Votes 7

Voter	Cast Power	Vote & Rationale
0x4319...f8D250	15.509M	FOR
0x3453...82ed01	11.028M	FOR
0x80f3...f04e06	9.065M	FOR
0xdF1d...6E9b3f	4.614M	FOR
Fechuky	500,016	FOR

VOTE POWER

Connect Wallet

Proposal Status

Thu August 01 2024, 03:35 amPublished Onchain Coolhorsegirl
Thu August 01 2024, 03:36 amVoting Period Starts
Sun August 04 2024, 03:36 amEnd Voting Period
Sun August 04 2024, 06:23 amQueue Proposal
Mon August 05 2024, 06:41 amExecute Proposal

Current Results

1-FOR

40.721M

2-AGAINST

N/A Tokens

3-ABSTAIN

N/A Tokens

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MIP-MIP-R22 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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