Nov 6, 2021
Mound (MND) Update as-of 06-Nov-2021
Hello Mound Fam,
As the team already announced the sneak peeks of NFT2.0 and Games will be launched this month. However, for this month, I’m still looking forward for more announcements regarding the Qubit expansion to Polygon chain, In-chain multiplexer and additional partnerships.
More good news, please!!!
News
MND Status as-of 06-Nov-2021
TVL (Total Value Locked) = 18.295 Million USD
BUNNY tokens = 3 Million tokens
QBT tokens = 100 Million tokens
Total MND Staked = 2.235 Million tokens (82.24% of total supplies)
Effective value of MND token (TVL / MND tokens) = 6.73 USD
Current Market Price = 3.96 USD
Pay BUNNY Rewards = 0.0032 BUNNY/MND
Pay QBT Rewards = 0.0136 QBT/MND
Add polyBUNNY on approx. 13 Nov 2021
MND APR vs Market Price = 102.47%
Rewards Distribution Mechanism = 30-Days-Amortization
Note : 30-Days-Amortization means the daily rewards will calculate from the remaining rewards in the pool divided by 30 days. Read more details in my update on 12-Sept
MND/WBNB PCS Liquidity Pool Statistics:
- MND tokens = 8,170 MND
- WBNB tokens = 55.72 WBNB
- APR% = 202.54%
PCB/QBT/polyBunny Status as-of 06 Nov 2021
- Accumulated treasury amounts from Prediction Market increased from 3.1682 BNB last week (31 Oct 2021) to 3.9131 BNB today (6 Nov 2021).
- PCB SAV TVL = 184M USD / Qubit TVL = 591M USD
- The ratio of PCB SAV TVL / Qubit TVL = 31.13%
- bQBT = 29.436M Tokens / total qScore = 37.025M scores
- The ratio of bQBT / total qScore= 79.50%
- QBT in Supply Market = 72.708M tokens
- The PolyBunny Maxi pool’s principal held by the Dev team = 985,712 tokens
- Estimated polyBUNNY tokens minted to Dev Wallet = 2,000 tokens per day
- Days Left to reach 1M polyBUNNY on principal side = 7.144 days (Around 13 Nov 2021)
MND Valuation as-of 6 Nov 2021
The underlying assets in the Mound Vault are as follows:
- BUNNY = 3,000,000 tokens @ 3.21 USD : 59% 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 = 0 tokens @ 1.169 USD : 139% APR
Note: The polyBUNNY maxi APR rate keep declining, it seems to me like the polyBUNNY accumulated rewards in the pool will be empty soon. Since the FRE mechanism is now using all fees to buy back polyBUNNY from the market instead of minting new ones, so we haven’t had remaining fees to fill-in rewards to the polyBUNNY maxi pool. - QBT = 100,000,000 tokens @ 0.07 USD : 9.76% APR
Note: After monitoring the results, the QBT reward rate has been declined from 0.0159 QBT/MND (23 Oct 2021) to 0.0144 QBT/MND (31 Oct 2021 and my model indicates that the reward rate may keep being declined to 0.0120 QBT/MND or 9.76% APR.
the MND vault’s asset values = (3,000,000 x 3.21) + (100,000,000 x 0.070) = 16.63 millions USD
So far, there are only 2.235 Million MND tokens staked in the Mound Vault and around 8,170 MND tokens in form of MND/WBNB LP. So we may begin to assume that the remaining MND tokens won’t be staked forever.
MND averaged tokens = 0.5 x [2.717 (Total Supply) + 2.235 (MND staked) + 0.008 (MND Liquidity) ] = 2.48
MND NAV per token = 16.63 / 2.48 = 6.705 USD
And for every 1 MND token holding, it equals to hold 3 tokens as follows:
- 3 / 2.48 = 1.2096 BUNNY
- 0 / 2.48 = 0 polyBUNNY
- 100 / 2.48 = 40.322 QBT
The current daily rewards in Mound Vault will include:
BUNNY daily rewards = (3,000,000 x 3.21) x (59% / 365 days) = 15,566 USD
Note : this is around 4,849 BUNNY tokens per day
QBT daily rewards = (100,000,000 x 0.070) x(9.76% / 365 days) = 1,871 USD
Note : this is around 26,739 QBT tokens per day
polyBUNNY daily rewards = 0 USD
Note : this is around 0 polyBUNNY tokens per day
Daily rewards per MND token = (15,566 + 1,871) / 2,480,000 = 0.00703 USD
So, the %APR of MND Vault could be as follows:
= 0.00703 / 6.705 USD per day
= 0.1048 % APR per day
= 38.27% APR per year
MND Valuation as-if we have polyBUNNY added to the vault
Someone may ask, what if we have polyBUNNY added to the MND vault, how much NAV and APR?
Here it is…
MND NAV per token = (3,000,000 x 3.21) + (100,000,000 x 0.070) + (1,000,000 x 1.169) / 2.48 = 7.177 USD
And for every 1 MND token holding, it equals to hold 3 tokens as follows:
- 3 / 2.48 = 1.2096 BUNNY
- 1 / 2.48 = 0.4032 polyBUNNY
- 100 / 2.48 = 40.322 QBT
polyBUNNY daily rewards = (1,000,000 x 1.169) x (139% / 365 days) = 4,451 USD
Note : this is around 3,808 polyBUNNY tokens per day
So, if we include polyBUNNY to the MND vault,
Daily rewards per MND token = (15,566 + 1,871 + 4,451) / 2,480,000 = 0.0088 USD
So, the %APR of MND Vault could be as follows:
= 0.0088 / 7.177 USD per day
= 0.1226 % APR per day
= 44.75% APR per year
Note :
- The MND vault APR will eventually decline to this rate after all accumulated BUNNY rewards before 1st claim date are all distributed. It won’t be empty immediately after 10 Oct 2021 but it will steadily be declined to this rate in upcoming months.
- This APR is calculated against MND NAV (which is 7.177 USD). So, if we calculate the APR vs MND market price (which is less than 5 USD), we should get much better rate.
MND Vault Reward Prediction next week
Using the 30-days-amortization reward distribution method, we can then predict the reward per MND during 7–14 Nov 2021 as shown in the table below.
In simpler term, if we have 1,000 MND staked in the MND Vault, we should get around:
07-Nov-21 = 3.1 BUNNY + 13.3 QBT
08-Nov-21 = 3.1 BUNNY + 13.1 QBT
09-Nov-21 = 3.1 BUNNY + 12.9 QBT
10-Nov-21 = 3.0 BUNNY + 12.7 QBT
11-Nov-21 = 3.0 BUNNY + 12.5 QBT
12-Nov-21 = 3.0 BUNNY + 12.3 QBT
13-Nov-21 = 2.9 BUNNY + 12.2 QBT + 0.1 polyBUNNY**
14-Nov-21 = 2.9 BUNNY + 12.0 QBT + 0.1 polyBUNNY**
** I assume that 1M polyBUNNY will be added to the MND vault on 13 Nov 2021. Due to the 30-days-amortization reward distribution, the reward rate will steadily climb up from 0 to reach its farming rate in 3 months approximately. After 3 months, we should expect the reward rate to reach its farming rate which will be around 0.0016 polyBUNNY/MND/day or 1.6 polyBUNNY per 1,000 MND per day. Hopefully, the team will kindly add some accumulated polyBUNNY rewards (the team added 490,253 QBT as the starting point for all of us on 24 Sept) so we won’t need to wait for 3 months long.
Thoughts
I believe this month will be a very huge step for PancakeBunny utilities. It could be attractive enough to convince more people to buy and stake the BUNNY tokens so that they can participate and/or gain some benefits from these NFT and Game projects.
So, let’s start from ourselves, it could be a good idea for all of us, the PancakeBunny supporters, to start collecting some more BUNNY tokens to enjoy these NFT & game things!!
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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
