Mound (MND) Update as-of 12-Dec-2021

News

  • In-Chain Multiplexer (Leveraged Yield Farming) on PancakeBunny will be launched on 15 Dec 2021 -> Link
  • Qubit — X-Collateral, the game changer feature will be launched before 19 Dec 2021 -> Link

MND Status as-of 12-Dec-2021

TVL (Total Value Locked) = 9.104 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)

Mound Stats as-of 12-Dec-2021 08:00 UTC
  • MND tokens = 11,910 MND
  • WBNB tokens = 40.85 WBNB
  • APR% = 57.47%
MND/WBNB PCS Liquidity Pool

BUNNY/PolyBUNNY/QBT Status as-of 12-Dec-2021

PCB vs Qubit Stats as-of 12-Dec-2021
  • polyBUNNY in MND Vault : 26-days Accumulated Rewards = 44,899 + 77,681 = 122,580 tokens. For 30 days, we should get around 140,000 tokens.
polyBUNNY in MND Vault
  • 25 million QBT tokens (belong to the MND vault) within the QBT Deposit market.
TIN Network Scanner : QBT farming for MND vault
  • BUNNY Supply Net Rate = 54.52%, Borrow Net Rate = -4.80%
  • 147,656 BUNNY in Supply market / 71,942 BUNNY tokens are borrowed or 48.72% BUNNY tokens are borrowed.
BUNNY Supply & Borrow Market on Qubit

Accumulated BNB for buying back & burn BUNNY

So far, we have had 4 income streams for accumulating the BNBs for buying back and burn our beloved BUNNY tokens as follows:

  • Cantata : Busy Bunnies minted = (3,121 minted items - 856 items for marketing purpose**) x 0.2 BNB = 2,265 x 0.2 = 453 BNB
    **Thanks to Mitten for providing Busy Bunnies Contract so we can track the accumulated BNB accurately.
Cantata : Busy Bunnies
Busy Bunnies Contract
Cantata : BUNNY Wine NFT Bidding
  • BUNNY Prediction Market : Treasury Amounts = 5.49BNB.
Prediction Market : Treasury Amount

MND Valuation as-of 12-Dec-2021

The underlying assets in the Mound Vault are as follows:

  • BUNNY = 3,000,000 tokens @ 1.59 USD : 54% 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
  • QBT = 100,000,000 tokens @ 0.022 USD : 5.28% APR
    Note: After monitoring the results, the QBT reward rate has been declined from 0.0095 QBT/MND (5 Dec 2021) to 0.0089 QBT/MND (12 Dec 2021) and my model indicates that the reward rate could keep being declined to 0.0065 QBT/MND or 5.28% APR.
  • polyBUNNY = 1,000,000 tokens @ 0.44 USD : 171% 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.
  • 3 / 2.3 = 1.304 BUNNY
  • 100 / 2.3 = 43.478 QBT
  • 1 / 2.3 = 0.4347 polyBUNNY

MND Vault Reward Prediction next week

Using the 30-days-amortization reward distribution method, we can then predict the reward per MND during 13–19 Dec 2021 as shown in the table below.

30-Days-Amortization reward rate prediction on 13–19 Dec 2021

Thoughts

For the next week, the “BUNNY In-Chain Multiplexer” and “Qubit Cross-Chain Lending” features will be launched on 15-Dec-2021 and 19-Dec-2021 repectively.

https://qbt.fi/update
  • To bQBT : The more pools on PCB, the more deposit & borrowing powers, the more QBT rewards shared to bQBT & bQBT/BNB stakers
  • To BUNNY : It seems like the In-Chain Multiplexer could charge the protocol fees for buying back and burn the BUNNY tokens
  • To QBT : The more deposit & borrowing powers, the more TVL & protocol fees being generated
  • To MND : If the In-Chain Multiplexer charge the protocol fees, the MND vault should receive a portion of the fees as well (according to the MND Vault Introduction : Item 2.1)
MND Vault : Introduction 2.1
https://qbt.fi/update

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Tanate Sukonrattanamaetee

Tanate Sukonrattanamaetee

187 Followers

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