Mound (MND) Update as-of 04-Sep-2021

Highlights this week

  • Qubit Platform TVL reached 1.1 Billion USD TVL and keep growing rapidly (Avg. +100 million USD per day) -> Link
  • The principal + rewards of polyBUNNY tokens (in polyBUNNY maxi pool) held by the Dev team = 853,594 + 317,743 = 1,171,337 tokens. Plus, I’ve just seen a good sign that there are additional “135,380.514” polyBUNNY in the wallet without farming! -> Link
  • MND Vault details was shared on September 3th, 2021 stated that the vault will be launched on 10 Sept 6:00UTC -> Link
    PLEASE DO NOT FORGET TO STAKE YOUR MND BEFORE 10 SEPT 4:00UTC TO GET THE FIRST CLAIM REWARDS!!!
  • Our Mound Family member, KJ, created an anonymous survey to help bringing our community voices to the Mound team. If you have time, please help our fam! -> Link

Mound TVL & Status

As-of 4th September 2021 6:30 UTC, the Mound Vault numbers are as follows:

Mound Stats as-of 2021–09–04 06:30 UTC

Insights

Dev Wallet as-of Sept 4th, 2021 6:30UTC
QBT Vault under audit by PeckShield
  • Rewards for BNB/BTC/ETH/USDT/BUSD Single Asset Vaults (SAV) on Qubit Platform= 770,000 QBT per day
  • PancakeBunny SAV TVL as-of 4 Sept = 43 million USD which equals to 43 / 1,140 = 3.77% of Qubit Platform.
PancakeBunny SAV TVL vs Qubit Platform TVL
  • According to the latest Mound Vault article, the QBT Vault size for this month will equal to 100,000,000 QBT / 12 = 8.33 Million meaning that PancakeBunny will have 8.33 million qScore
Deposit 100M QBT / 12 to QBT Vault over 12 months
  • Since the total qScore on Qubit Platform as-of 4 Sept 2021 6:30UTC is around 4.284 million qScore.
    So, the % portion of QBT Vault’s qScore = 8.33 / (4.284 + 8.33) = 66%
  • From the 2nd bullet above, the PancakeBunny SAV TVL = 3.77% of Qubit Platform while the qScore of QBT Vault will be 66% of Qubit platform. So, it is “more than enough” to boost 2.5X QBT rewards for PancakeBunny SAV
Total qScore as-of 4 Sept 2021 6:30UTC = 4.284 million qScore
  • % Portion of the QBT Bonus rewards generated by PancakeBunny SAV will be distributed to QBT Vault = 10%
  • BUNNY = 3,547,730 tokens @ 7.36 USD : 65% APR
    Note: Since 19 Aug until now, the Bunny Maxi pool hasn’t got the performance fees to boost its APR because the FRE mechanism is now using all fees to buy back BUNNY from the market instead of minting new ones
    Need to understand BUNNY FRE -> Read my FRE article here
  • polyBUNNY =1,171,337 tokens @ 4.05 USD : 189% APR
  • QBT = 100,000,000 tokens @ 0.5000 USD : 0% APR
  • 1.3055 BUNNY
  • 0.4310 polyBUNNY
  • 36.797 QBT
  1. Bunny Maxi APR dropped from 69% to 65% and could keep dropping to 40.57% APR (= 50% APY)
  2. QBT Vault launch date will be delayed to 10 Sept or later
  3. Qubit Platform TVL rapidly increased to 1.1 Billion USD causing the PancakeBunny TVL vs Qubit Platform TVL decrease from 10% to 3.77%
  4. The consequence of 1.1 Billion Qubit TVL causes the QBT Vault APR prediction dropped from 4.215% to 1.589%
  • 585,000 BUNNY / (2,717,604 x 30 days) = 0.00717 BUNNY/MND/day
  • 0–180,000 / (2,717,604 x 30 days) = 0–0.0022 polyBUNNY/MND/day
  • 0 QBT/MND/day
  • Someone may not realize they have MND airdrop in their wallet
  • Someone may not read the medium article and won’t stake before 10 Sept 4:00UTC
  • Someone may decide to leave their MND/BNB LP on PancakeSwap
  • I checked the Mound Vault transactions vs Mound token holders, there are only 3,831 stake transactions on MND Vault vs 64,204 MND token holders meaning that there are only 5.9% of MND holders who already staked their MND. I believe there will be more and more holders stake their MND during this week
MND Vault Stake transactions vs MND token holders
Deposit 100M QBT / 12 to QBT Vault over 12 months
  • 2,717,604 tokens fixed supply (All of them have already been minted)
  • It will basically hold 3,000,000 BUNNY tokens / 1,000,000 polyBUNNY tokens / 100,000,000 QBT tokens in the vault
  • The MND token holders can claim their 1st rewards from the vault first time on 10th September 06:00UTC (could be around 0.00717 BUNNY per MND per day for 30 days)
  • On 10th September 2021 06:00UTC , “all” tokens in the Mound vault will being farmed to generate yield for MND token holders
  • After the 1st claim, the holders can claim their daily rewards (Around 33% APR)
  • In the future (2+ months), the Mound team could add some new project’s token and the fees to the Mound Vault. That means more rewards for the MND token holder in the far future
  • In 2 years from now, they “could” have a vote to redeem the tokens from the vault (eg. BUNNY, polyBUNNY, etc.) and return them back to the MND token holder

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Tanate Sukonrattanamaetee

Tanate Sukonrattanamaetee

187 Followers

A Software engineer who loves reading and sharing any interesting and useful things