Mound (MND) Update as-of 09-Jan-2022
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
- 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
- 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
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%
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%
BUNNY/PolyBUNNY/QBT Status as-of 09-Jan-2022
- PCB SAV TVL = 69M USD / Qubit TVL = 248.8M USD (27.73%)
- bQBT = 39.720M Tokens / total qScore = 52.563M scores (75.56%)
- QBT in Supply Market = 144.681M tokens
- PancakeBunny xLP 6 Pools with 3.8M USD TVL
- Qubit x-Collateral TVL = 197 xETH or 616K USD with 11 suppliers
- 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.
- 33 million QBT tokens (belong to the MND vault) on the QBT Deposit market
- BUNNY Supply Net Rate = 60.84%, Borrow Net Rate = -43.11%
- 72.74K / 132.93K = 54.72% BUNNY tokens are borrowed.
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:
- 577.36 BNB or around 251,000 USD
- 17.69 ETH or around 55,000 USD
- 76,164.80 BUSD
- 9,338.84 DAI
- 73,636.27 USDT
- 47,240.67 USDC
- 3.66 BTCB or around 153,000 USD
- 9,741.98 CAKE or around 110,000 USD
- 17,551.77 MDX or around 5,600 USD
- 213,770.10 QBT or around 2,100 USD
- 546.15 BUNNY or around 470 USD
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.
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.
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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