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

Hello Mound Fam,

The In-chain Multiplexer (Leveraged Farming) feature seems to be delayed to launch on 15-Dec-2021. So, we will have 2 good news coming together next week!!!


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)

Effective value of MND token (TVL / MND tokens) = 3.35 USD
Current Market Price = 1.94 USD

Pay BUNNY Rewards = 0.0024 BUNNY/MND/day
Pay QBT Rewards = 0.0089 QBT/MND/day
Pay polyBUNNY Rewards = 0.0609 polyBUNNY/MND/month*

Mound Stats as-of 12-Dec-2021 08:00 UTC

MND/WBNB PCS Liquidity Pool Statistics:

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
TIN Network Scanner : QBT farming for MND vault
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
Busy Bunnies Contract
Cantata : BUNNY Wine NFT Bidding
Prediction Market : Treasury Amount

My estimation shows that the accumulated BNB in our treasury
= 453 + 28 + 9.45 + 5.49 = 495.94 BNB

At the time I am writing this article (12-Dec-2021 08:00UTC), the BUNNY Price is 1.587 USD & the BNB price is 566 USD. So, we can burn around 495.94 x 566 / 1.587 = 176,875 BUNNY

MND Valuation as-of 12-Dec-2021

The underlying assets in the Mound Vault are as follows:

the MND vault’s asset values = (3,000,000 x 1.59) + (100,000,000 x 0.022) + (1,000,000 x 0.44) = 7.41 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 = 7.41 / 2.3 = 3.22 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 1.59) x (54% / 365 days) = 7,056 USD
= 4,438 BUNNY tokens per day
= 4,438 / 2,300,000 = 0.00193 BUNNY/MND/day
= 1.93 BUNNY per 1,000 MND per day

QBT daily rewards = (100,000,000 x 0.022) x(5.28% / 365 days) = 318 USD
= 14,465 QBT tokens per day
= 14,465 / 2,300,000 = 0.00628 QBT/MND/day
= 6.28 QBT per 1,000 MND per day

polyBUNNY daily rewards = (1,000,000 x 0.44) x (171% / 365 days) = 2,061 USD
= 4,684 polyBUNNY tokens per day
= 4,684 / 2,300,000 = 0.00203 polyBUNNY/MND/day
= 2.03 polyBUNNY per 1,000 MND per day
= 60.9 polyBUNNY per 1,000 MND per 30 days

Daily rewards per MND token = (7,056 + 318 + 2,061) / 2,300,000 = 0.00410 USD

APR vs MND effective value = (0.00410 x 365 days) / 3.22= 46.47%
APR vs MND market price
= (0.00410 x 365 days) / 1.94 = 77.13%

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

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

13-Dec-21 = 2.4 BUNNY + 8.8 QBT
14-Dec-21 = 2.4 BUNNY + 8.7 QBT
15-Dec-21 = 2.3 BUNNY + 8.6 QBT
16-Dec-21 = 2.3 BUNNY + 8.5 QBT + 65.6 polyBUNNY**
17-Dec-21 = 2.3 BUNNY + 8.5 QBT
18-Dec-21 = 2.3 BUNNY + 8.4 QBT
19-Dec-21 = 2.3 BUNNY + 8.3 QBT

16-Jan-22 = 2.1 BUNNY + 6.9 QBT + 69.2 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.


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.

Firstly, 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 utilize the xLP feature on Qubit by posting their asset “A” as collateral on Qubit market and then borrow the asset “B” to create “A-B LP on PCS” and on every X hours, repeat the steps by using the CAKE rewards from PCS to collateralize & create more “A-B LP” then reinvest these 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

Secondly, the “Qubit Cross-Chain Lending” feature,

I think this feature will be our game changer feature that will dramatically boost the Qubit TVL “only if” we do aggressively advertise & partnership with the top Defi platforms on ETH chain such as Aave, Uniswap and Compound.

If the partnership is well established and advertised, we should expect the very large funds flowing into Qubit on BSC.

One more thing, after launching the “In-chain Multiplexer on PancakeBunny” and “Qubit Cross-chain Lending” features, the next step that will be another game changer for PancakeBunny could be the “Cross-Chain Multiplexer on PancakeBunny”. If the team decide to launch this feature by this month, it will bring much larger funds flowing into both PancakeBunny and Qubit. This real game-changer feature will easily recover both TVL and price of BUNNY (Not counting our accumulated BNB for burning the BUNNY soon).

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


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.



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Tanate Sukonrattanamaetee

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