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executedEnded 2 years ago · Onchain

MIP-R24 Rebalancing of Moonriver Token Liquidity Incentives

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

Submitter: Coolhorsegirl
Generator Version: 1.0.43
Generated At: Wed, 28 Aug 2024 14:05:00 GMT
Network: Moonriver
Block Height: 7,951,529

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 361,811,292 MFAM staked in the Safety Module, with a valuation of $384,290.35 (based on a MFAM price of $0.001062 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 = ~8.77%):
- 1.0050 MFAM / second
- 86,828.95 MFAM / day
- 2,431,210.65 MFAM / reward cycle (28 days)
Proposed (estimated APR = ~8.77%):
- 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 65,244,252 MFAM and 7,310 MOVR provided by liquidity providers in the SolarBeam MFAM/MOVR pool totaling $138,595.65.

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, 06 Sep 2024 03:30:00 GMT

Proposed rewards will expire at Fri, 04 Oct 2024 03:30:00 GMT

Current (estimated APR = ~27.25%) days:
- 1.1268 MFAM / second
- 97,353.75 MFAM / day
- 2,725,905.00 MFAM / reward cycle (28 days)
Proposed (estimated APR = ~27.25%):
- 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	$9.48
Supplied	113,082.46 MOVR
Borrowed	2,734.18 MOVR
Supplied TVL	$1,072,026.11
Borrowed TVL	$25,920.13
Utilization	2.42%
MFAM Incentive Share	65%
MOVR Incentive Share	65%

Estimated APRs	Current	Proposed
Supply Side	2.01%	10.25%
Borrow Side	-2.39%	-2.39%

MFAM Incentives

	Current	Proposed
Supply Side	0.6304 MFAM / sec	0.5938 MFAM / sec
-6.15%	54,465.43 MFAM / day	51,308.02 MFAM / day
	1,525,032.13 MFAM / cycle*	1,436,624.47 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 MOVR / sec	0.0003 MOVR / sec
+100.00%	0 MOVR / day	25.91 MOVR / day
	0 MOVR / cycle*	725.40 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	$19.87
Supplied	22,777.68 xcKSM
Borrowed	5,359.95 xcKSM
Supplied TVL	$452,689.49
Borrowed TVL	$106,524.98
Utilization	23.53%
MFAM Incentive Share	28%
MOVR Incentive Share	28%

Estimated APRs	Current	Proposed
Supply Side	2.36%	11.09%
Borrow Side	-4.45%	-4.45%

MFAM Incentives

	Current	Proposed
Supply Side	0.2284 MFAM / sec	0.2558 MFAM / sec
+10.71%	19,733.85 MFAM / day	22,101.92 MFAM / day
	552,547.87 MFAM / cycle*	618,853.62 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 MOVR / sec	0.0001 MOVR / sec
+100.00%	0 MOVR / day	11.16 MOVR / day
	0 MOVR / cycle*	312.48 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	$0.9969
Supplied	109,460.31 FRAX
Borrowed	89,091.14 FRAX
Supplied TVL	$109,120.08
Borrowed TVL	$88,814.23
Utilization	81.39%
MFAM Incentive Share	7%
MOVR Incentive Share	7%

Estimated APRs	Current	Proposed
Supply Side	6.04%	15.17%
Borrow Side	-8.40%	-8.40%

MFAM Incentives

	Current	Proposed
Supply Side	0.0548 MFAM / sec	0.0640 MFAM / sec
+14.29%	4,736.12 MFAM / day	5,525.48 MFAM / day
	132,611.49 MFAM / cycle*	154,713.40 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 MOVR / sec	0.0000 MOVR / sec
+100.00%	0 MOVR / day	2.79 MOVR / day
	0 MOVR / cycle*	78.12 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: 7fa85435b09963ef520993c39adde270e8f74764f8c228cb5ac3ac1cd1585e31

Proposal Config

{
  "_meta": {
    "generatedAt": "2024-08-28T14:04:25.286Z",
    "generatorVersion": "1.0.43"
  },
  "snapshotBlock": 7951529,
  "safetyModuleInfo": {
    "totalStaked": "361811292.074940442088855293",
    "stakedTVL": "384290.347636048472513280551138005644700475371496421",
    "govTokenPrice": "0.001062129226073054786681097",
    "emissions": {
      "emissionsPerSecond": "1.004964719742063492",
      "lastUpdateTimestamp": 1724847966,
      "emissionAPR": "8.765418695987879597",
      "emissionsPerYear": "31714274.6397321428551392"
    }
  },
  "dexInfo": {
    "govTokenTotal": "65244252.071603970176212208",
    "nativeAssetTotal": "7309.867209147695240673",
    "govTokenPrice": "0.001062129226073054786681097",
    "nextFreeSlot": 45,
    "emissionsPerYear": "35558457.1874999999719488",
    "poolTVL": "138595.653917056054895510055480277822421135094232176",
    "currentPoolAPR": "27.250260412576622631",
    "currentPoolRewardInfo": {
      "startTimestamp": 1723174200,
      "endTimestamp": 1725593400,
      "rewardPerSec": "1.126779513888888888"
    }
  },
  "marketData": {
    "assets": {
      "MOVR": {
        "price": "9.4800391",
        "totalSuppliedUnderlying": "113082.456127972888623593999950572416459584",
        "totalSuppliedTVL": "1072026.1056172175878916163020568245754183398897344",
        "totalBorrows": "2734.179484040843359016",
        "totalBorrowedTVL": "25920.1284151250210404470175256",
        "utilization": "0.02417863546354735642",
        "baseSupplyAPR": "11774523",
        "baseBorrowAPR": "749200764",
        "govSupplySpeed": "630386960565476190",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "0",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "xcKSM": {
        "price": "19.8742565",
        "totalSuppliedUnderlying": "22777.681855227999999968519104610574",
        "totalSuppliedTVL": "452689.491666197137981374340610180880288231",
        "totalBorrows": "5359.947812058762",
        "totalBorrowedTVL": "106524.977643469629060453",
        "utilization": "0.23531577296258228047",
        "baseSupplyAPR": "211135952",
        "baseBorrowAPR": "1380377260",
        "govSupplySpeed": "228401072668650793",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "0",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "FRAX": {
        "price": "0.99689177",
        "totalSuppliedUnderlying": "109460.30710337321176769599983886969641353",
        "totalSuppliedTVL": "109120.0792930252940496832941012905264570465736481",
        "totalBorrows": "89091.144646260357584407",
        "totalBorrowedTVL": "88814.22887773651175315241863039",
        "utilization": "0.81391279637214591153",
        "baseSupplyAPR": "1353723933",
        "baseBorrowAPR": "2558814919",
        "govSupplySpeed": "54816257440476190",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "0",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      }
    },
    "totalTVL": "1633835.6765764400199226739367682959821636174633825",
    "govRewardSplits": {
      "MOVR": 0.65,
      "xcKSM": 0.28,
      "FRAX": 0.07
    },
    "nativeRewardSplits": {
      "MOVR": 0.65,
      "xcKSM": 0.28,
      "FRAX": 0.07
    }
  },
  "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": "R24",
    "componentSplits": {
      "ALL_MARKETS": 0.3,
      "SAFETY_MODULE": 0.33,
      "DEX_REWARDER": 0.37
    },
    "emissionAmounts": {
      "0": 7367305,
      "1": 1116
    },
    "submitterWallet": "0x7F953f11343408eBCcaEcd04eB0D1E6bacDEf87F"
  }
}

Connect Wallet to Add Note

Votes 9

Voter	Cast Power	Vote & Rationale
0xB523...7Fe3fA	108.123M	ABSTAIN
0x4319...f8D250	15.628M	FOR
0x80f3...f04e06	9.065M	FOR
Coolhorsegirl	1.347M	FOR
Fechuky	500,016	FOR

VOTE POWER

Connect Wallet

Proposal Status

Wed August 28 2024, 07:59 pmPublished Onchain Coolhorsegirl
Wed August 28 2024, 08:00 pmVoting Period Starts
Sat August 31 2024, 08:00 pmEnd Voting Period
Sun September 01 2024, 05:53 amQueue Proposal
Mon September 02 2024, 10:36 pmExecute Proposal

Current Results

1-ABSTAIN

108.123M

80.16%

2-FOR

26.759M

19.84%

3-AGAINST

N/A Tokens

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Moonwell

MIP-R24 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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Proposal Status

Current Results