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executedEnds a year ago · Onchain

MIP-R28 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, 20 Nov 2024 16:07:19 GMT
Network: Moonriver
Block Height: 9,119,409

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 382,994,447 MFAM staked in the Safety Module, with a valuation of $419,386.77 (based on a MFAM price of $0.001095 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 = ~8.28%):
- 1.0050 MFAM / second
- 86,828.95 MFAM / day
- 2,431,210.65 MFAM / reward cycle (28 days)
Proposed (estimated APR = ~8.28%):
- 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 55,324,469 MFAM and 5,088 MOVR provided by liquidity providers in the SolarBeam MFAM/MOVR pool totaling $121,162.86.

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, 29 Nov 2024 03:30:00 GMT

Proposed rewards will expire at Fri, 27 Dec 2024 03:30:00 GMT

Current (estimated APR = ~32.14%) days:
- 1.1268 MFAM / second
- 97,353.75 MFAM / day
- 2,725,905.00 MFAM / reward cycle (28 days)
Proposed (estimated APR = ~32.14%):
- 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	$11.91
Supplied	118,655.98 MOVR
Borrowed	3,970.74 MOVR
Supplied TVL	$1,412,675.38
Borrowed TVL	$47,274.26
Utilization	3.35%
MFAM Incentive Share	65%
MOVR Incentive Share	65%

Estimated APRs	Current	Proposed
Supply Side	9.48%	9.48%
Borrow Side	-2.53%	-2.53%

MFAM Incentives

	Current	Proposed
Supply Side	0.5938 MFAM / sec	0.5938 MFAM / sec
+0.00%	51,308.02 MFAM / day	51,308.02 MFAM / day
	1,436,624.47 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	0.0003 MOVR / sec	0.0003 MOVR / sec
+0.00%	25.91 MOVR / day	25.91 MOVR / day
	725.40 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	$20.74
Supplied	29,111.83 xcKSM
Borrowed	6,621.33 xcKSM
Supplied TVL	$603,751.01
Borrowed TVL	$137,319.88
Utilization	22.74%
MFAM Incentive Share	29%
MOVR Incentive Share	29%

Estimated APRs	Current	Proposed
Supply Side	10.25%	10.25%
Borrow Side	-2.84%	-2.84%

MFAM Incentives

	Current	Proposed
Supply Side	0.2649 MFAM / sec	0.2649 MFAM / sec
+0.00%	22,891.27 MFAM / day	22,891.27 MFAM / day
	640,955.53 MFAM / cycle*	640,955.53 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%	11.56 MOVR / day	11.56 MOVR / day
	323.64 MOVR / cycle*	323.64 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	$0.9957
Supplied	126,377.41 FRAX
Borrowed	106,140.31 FRAX
Supplied TVL	$125,832.22
Borrowed TVL	$105,682.42
Utilization	83.99%
MFAM Incentive Share	6%
MOVR Incentive Share	6%

Estimated APRs	Current	Proposed
Supply Side	19.58%	19.58%
Borrow Side	-18.71%	-18.71%

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	0.0000 MOVR / sec
+0.00%	2.39 MOVR / day	2.39 MOVR / day
	66.96 MOVR / cycle*	66.96 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

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: 665a2c3fbc040c35fa71f9a97b967ce16375ad4904aa4e7a6a99d636db888806

Proposal Config

{
  "_meta": {
    "generatedAt": "2024-11-20T16:07:08.798Z",
    "generatorVersion": "1.0.43"
  },
  "snapshotBlock": 9119409,
  "safetyModuleInfo": {
    "totalStaked": "382994446.793266969382517692",
    "stakedTVL": "419386.7685046386456082243815656685265910421709026612",
    "govTokenPrice": "0.0010950204944642854078171011",
    "emissions": {
      "emissionsPerSecond": "1.004964719742063492",
      "lastUpdateTimestamp": 1732118574,
      "emissionAPR": "8.28060952456861545",
      "emissionsPerYear": "31714274.6397321428551392"
    }
  },
  "dexInfo": {
    "govTokenTotal": "55324469.445862900666998903",
    "nativeAssetTotal": "5088.464775628610541041",
    "govTokenPrice": "0.0010950204944642854078171011",
    "nextFreeSlot": 48,
    "emissionsPerYear": "35558457.1874999999719488",
    "poolTVL": "121162.8557771660874228407454588572057321040583400933",
    "currentPoolAPR": "32.136283947824663582",
    "currentPoolRewardInfo": {
      "startTimestamp": 1730431800,
      "endTimestamp": 1732851000,
      "rewardPerSec": "1.126779513888888888"
    }
  },
  "marketData": {
    "assets": {
      "MOVR": {
        "price": "11.90563963",
        "totalSuppliedUnderlying": "118655.9839404692848509549997801558484276",
        "totalSuppliedTVL": "1412675.384738294678519288488729264756615907745788",
        "totalBorrows": "3970.74490349568172002",
        "totalBorrowedTVL": "47274.2578836787138197366763926",
        "utilization": "0.03346434601636136758",
        "baseSupplyAPR": "17257200",
        "baseBorrowAPR": "793367956",
        "govSupplySpeed": "593842788938492063",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "299851190476190",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "xcKSM": {
        "price": "20.73902898",
        "totalSuppliedUnderlying": "29111.826271344207999900853623450705",
        "totalSuppliedTVL": "603751.0087021328732650916404234821785964309",
        "totalBorrows": "6621.326606353265",
        "totalBorrowedTVL": "137319.8843752054149526197",
        "utilization": "0.22744456306648370909",
        "baseSupplyAPR": "131077506",
        "baseBorrowAPR": "886623531",
        "govSupplySpeed": "264945244295634920",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "133779761904761",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      },
      "FRAX": {
        "price": "0.99568597",
        "totalSuppliedUnderlying": "126377.41105477233029636899955929123526888",
        "totalSuppliedTVL": "125832.2151121597108203005548041224661011929936136",
        "totalBorrows": "106140.312898995937707641",
        "totalBorrowedTVL": "105682.42040494028226249210549677",
        "utilization": "0.83986775811536781249",
        "baseSupplyAPR": "2969448911",
        "baseBorrowAPR": "5439407451",
        "govSupplySpeed": "54816257440476190",
        "govBorrowSpeed": "1",
        "nativeSupplySpeed": "27678571428571",
        "nativeBorrowSpeed": "1",
        "nativeSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        },
        "govSupplyBorrowSplit": {
          "SUPPLY": 1,
          "BORROW": 0
        }
      }
    },
    "totalTVL": "2142258.6085525872626046806839568694013135316394016",
    "govRewardSplits": {
      "MOVR": 0.65,
      "xcKSM": 0.29,
      "FRAX": 0.06
    },
    "nativeRewardSplits": {
      "MOVR": 0.65,
      "xcKSM": 0.29,
      "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": "R28",
    "componentSplits": {
      "ALL_MARKETS": 0.3,
      "SAFETY_MODULE": 0.33,
      "DEX_REWARDER": 0.37
    },
    "emissionAmounts": {
      "0": 7367305,
      "1": 1116
    },
    "submitterWallet": "0x7F953f11343408eBCcaEcd04eB0D1E6bacDEf87F"
  }
}

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Votes 18

Voter	Cast Power	Vote & Rationale
0x4319...f8D250	16.246M	FOR
0x3453...82ed01	15.074M	FOR
0xdF1d...6E9b3f	4.614M	FOR
0xCBaD...0732e3	4.323M	FOR
0xb757...F417d4	4.001M	FOR

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Proposal Status

Wed November 20 2024, 04:33 pmPublished Onchain Coolhorsegirl
Wed November 20 2024, 04:34 pmVoting Period Starts
Sat November 23 2024, 04:34 pmEnd Voting Period
Sat November 23 2024, 04:35 pmQueue Proposal
Mon November 25 2024, 02:50 pmExecute Proposal

Current Results

1-FOR

46.991M

97.92%

2-AGAINST

2.08%

3-ABSTAIN

N/A Tokens

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MIP-R28 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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