Mound (MND) Update as-of 05-Dec-2021

Hello Mound Fam,

For this week, I am trying to estimate how much BUNNY we can actually burn using the fees from Prediction Market, the no-loss pots and the Busy Bunnies NFT minting event. My rough calculation shows that as-of now, we can burn around 200,000 BUNNY!!!

For more details, please read my estimation in the “BUNNY/PolyBUNNY/QBT Status” section.

News

MND Status as-of 05-Dec-2021

TVL (Total Value Locked) = 10.845 Million USD
BUNNY tokens = 3 Million tokens
QBT tokens = 100 Million tokens
polyBUNNY tokens = 1 Million tokens
Total MND Staked = 2.246 Million tokens (82.646% of total supplies)

Effective value of MND token (TVL / MND tokens) = 3.99 USD
Current Market Price = 2.16 USD

Pay BUNNY Rewards = 0.0025 BUNNY/MND/day
Pay QBT Rewards = 0.0099 QBT/MND/day
Pay polyBUNNY Rewards = 0.0624 polyBUNNY/MND/month*

Mound Stats as-of 5th Dec 2021 12:00 UTC

MND/WBNB PCS Liquidity Pool Statistics:

MND/WBNB PCS Liquidity Pool

BUNNY/PolyBUNNY/QBT Status as-of 5 Dec 2021

PCB vs Qubit Stats as-of 5 Dec 2021
Prediction Market : Treasury Amount
Cantata : Busy Bunnies
polyBUNNY in MND Vault

MND Valuation as-of 5 Dec 2021

The underlying assets in the Mound Vault are as follows:

the MND vault’s asset values = (3,000,000 x 1.87) + (100,000,000 x 0.031) + (1,000,000 x 0.45) = 9.16 millions USD

So far, there are only 2.246 Million MND tokens staked in the Mound Vault and less than 20,000 MND tokens in form of MND/WBNB LP. However, to be conservative, we will assume that there will eventually be around 2.3 Million MND staked to the vault.

MND NAV per token = 9.16 / 2.3 = 3.98 USD

And for every 1 MND token holding, it equals to hold 3 tokens as follows:

The current daily rewards in Mound Vault will include:

BUNNY daily rewards = (3,000,000 x 1.87) x (57% / 365 days) = 8,760 USD
= 4,684 BUNNY tokens per day
= 4,684 / 2,300,000 = 0.00203 BUNNY/MND/day
= 2.03 BUNNY per 1,000 MND per day

QBT daily rewards = (100,000,000 x 0.031) x(5.28% / 365 days) = 448 USD
= 14,465 QBT tokens per day
= 0.00628 QBT/MND/day
= 6.28 QBT per 1,000 MND per day

polyBUNNY daily rewards = (1,000,000 x 0.45) x (175% / 365 days) = 2,157 USD
= 4,794 polyBUNNY tokens per day
= 4,794 / 2,300,000 = 0.00208 polyBUNNY/MND/day
= 2.08 polyBUNNY per 1,000 MND per day
= 62.4 polyBUNNY per 1,000 MND per 30 days

Daily rewards per MND token = (8,760 + 448 + 2,157) / 2,300,000 = 0.00494 USD

APR vs MND effective value = (0.00494 x 365 days) / 3.98= 45.30%
APR vs MND market price
= (0.00494 x 365 days) / 2.16 = 83.47%

MND Vault Reward Prediction next week

Using the 30-days-amortization reward distribution method, we can then predict the reward per MND during 6–12 Dec 2021 as shown in the table below.

30-Days-Amortization reward rate prediction on 6–12 Dec 2021

In simpler term, if we have 1,000 MND staked in the MND Vault, we should get around:

06-Dec-21 = 2.5 BUNNY + 9.9 QBT
07-Dec-21 = 2.5 BUNNY + 9.8 QBT
08-Dec-21 = 2.4 BUNNY + 9.8 QBT
09-Dec-21 = 2.4 BUNNY + 9.8 QBT
10-Dec-21 = 2.4 BUNNY + 9.8 QBT
11-Dec-21 = 2.4 BUNNY + 9.7 QBT
12-Dec-21 = 2.4 BUNNY + 9.7 QBT

16-Dec-21 = 2.4 BUNNY + 9.6 QBT + 62.4 polyBUNNY**

** According to the PolyBunny Farming & Reward Distribution Mechanism mentioned in the team’s article, the polyBUNNY monthly rewards will be distributed around 16-Dec-21.

Thoughts

**Since the In-Chain Multiplexer feature was postponed to launch by next week (before 12 Dec 2021), I will then re-run my thought from last week**

For the next week, the most interesting thing is about the “BUNNY In-Chain Multiplexer” feature.

My assumption is that the PancakeBunny platform itself will open the new LP pools (Quite similar concept as their Qubit Single Asset Vaults) so it will post the LP as collateral and then borrow the assets to reinvest more LPs back to the pool.

If this is the case, I’m guessing there will be positive impacts to BUNNY, bQBT, QBT and MND as follows:

MND Vault : Introduction 2.1

IMPORTANT : These are my assumptions that could be wrong. So, please wait for the official announcement of this feature.

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Thank you for reading this long article. You may notice so many assumptions and calculations in this weekly update. So, please don’t treat these as financial advices and try to DYOR, I will try my best to not being too optimistic or pessimistic as well.

Lastly, please feel free to share any facts or thoughts regarding Mound here so we can strengthen this and upcoming articles to be more helpful for our family.

Regards,

Hope

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Tanate Sukonrattanamaetee

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