Mound (MND) Update as-of 09-Jan-2022

Tanate Sukonrattanamaetee
5 min readJan 9, 2022

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Hello Mound Fam,

Qubit and Lexer Finance officially announced the strategic partnership and the Lexer will soon provide the Pre-liquidity Mining event and launch the BTC Leveraged Token as their first product.

For anyone who’s waiting for the voting proposals on BUNNY, polyBUNNY and MND, there is no ETA at the moment. So, hopefully, those proposals will be published next week.

News

  • Qubit x Lexer Finance Strategic Partnership official announcement -> Here and Here
Qubit x Lexer Strategic Partnership
  • X-Bunny event, claim the blocks, place your idea on those blocks, the prizes are 5 (for top 5)+ 10 (random) Busy Bunnies NFTs -> Link
1000blicks space : x-bunny
  • Our OG BUNNY investors are now developing the “SolBunny” project, the OrderBook DEX & DAO on Solana chain. The project will be launched on mainnet around 28th Jan 2022 (Next 3 weeks). Wish them success in their journey!!-> SolBunny Website or Discord
    Note : This project is not related to the PancakeBunny or Mound team
SolBunny

MND Status as-of 09-Jan-2022

Total MND Staked = 2.247 Million tokens (82.68% of total supplies)

Underlying Assets per 1 MND & APR

  • 3 / 2.3 = 1.304 BUNNY/MND : 51% APR
  • 100 / 2.3 = 43.478 QBT/MND : 5.38% APR
  • 1 / 2.3 = 0.4347 polyBUNNY/MND : 149% APR

Reward Distribution per 1 MND as-of 9 Jan 2022

  • 0.00211 BUNNY/MND/day
  • 0.00760 QBT/MND/day
  • 0.06232 polyBUNNY/MND/month*

MND rewards per day in USD
= [(0.00211 x 0.8779) + (0.00760 x 0.010) + (0.06232 x 0.17 / 30)]
= 0.00281 USD per MND per day

APR vs MND Market Price = 0.002281 x 365 / 1.39 = 59.89%
APR vs MND Effective Value = 0.00281 x 365 / 1.94 = 42.91%

Mound Stats as-of 09-Jan-2022 05:00 UTC

Reward prediction next week

If we have 1,000 MND staked in the MND Vault, we should get around:

10-Jan-22 = 2.09 BUNNY + 7.56 QBT
11-Jan-22 = 2.08 BUNNY + 7.51 QBT
12-Jan-22 = 2.07 BUNNY + 7.46 QBT
13-Jan-22 = 2.07 BUNNY + 7.41 QBT
14-Jan-22 = 2.06 BUNNY + 7.37 QBT
15-Jan-22 = 2.05 BUNNY + 7.32 QBT
16-Jan-22 = 2.05 BUNNY + 7.28 QBT + 62.42 polyBUNNY**

* According to the PolyBunny Farming & Reward Distribution Mechanism mentioned in the team’s article, the polyBUNNY monthly rewards will be distributed on 16th of each month.

MND/WBNB PCS Liquidity Pool

  • 10,120 MND / 35.41 WBNB / APR% = 41.70%
MND/WBNB PCS Liquidity Pool

BUNNY/PolyBUNNY/QBT Status as-of 09-Jan-2022

PCB vs Qubit Stats as-of 09-Jan-2022
  • PancakeBunny xLP 6 Pools with 3.8M USD TVL
PancakeBunny xLP Pools
  • Qubit x-Collateral TVL = 197 xETH or 616K USD with 11 suppliers
Qubit xETH
  • polyBUNNY in MND Vault : Accumulated Rewards since 16th Dec 2021 until now (9th Jan 2022 05.20UTC) = 111,441 tokens. For 30 days, we should get around 140,000 tokens.
polyBUNNY in MND Vault
  • 33 million QBT tokens (belong to the MND vault) on the QBT Deposit market
https://tin.network/en/dashboard -> 0xb67cc06bdc7a0d744991ba4611af37f7ea70f80d
  • BUNNY Supply Net Rate = 60.84%, Borrow Net Rate = -43.11%
  • 72.74K / 132.93K = 54.72% BUNNY tokens are borrowed.
BUNNY Supply & Borrow Market on Qubit

Accumulated BNB for buying back & burn BUNNY

According to my update on 18-Dec-2021, the estimation shows that the accumulated BNB in our treasury
= 453 + 28 + 12.60 + 5.59 = 499.19 BNB

At the time I am writing this article (09-Jan-2022 05:20UTC), the BUNNY Price is 0.876 USD & the BNB price is 435.512 USD. So, we can burn around 499.19 x 435.512 / 0.876 = 248,177 BUNNY

Accumulated reserved assets on Qubit Platform

As-of 09-Jan-2022 05:20UTC, the BSC Qubit protocol fees are around 782,000 USD and can be separated as the following assets:

Note : The “Qubit Protocol Fee Sharing” launch plan is on Q1 Y2022

Thoughts

According to the Lexer Finance roadmap, their main products will be BTC/ETH/BNB Leveraged Tokens and Crypto Index Fund.

Lexer Finance Roadmap

From the Lexer’s lite paper, the use-case of the ETH Leveraged Token will allow the investors to short “2x ETH” and long “3x ETH”. These use-cases will accelerate the TVL & utilization rate on Qubit markets especially on BUSD/BTCB/ETH/BNB markets. In the other words, the more TVL & utilization on Qubit markets, the more protocol fee & the better interest rate on Qubit platform.

Lexer Leveraged Token x Qubit

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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