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

Highlights this week

  • MND Vault FAQ -> Link
  • MND Vault will start QBT farming before 26 Sept. Plus, the team begins researching and discovering Game and NFT Products -> Link
    EDIT: Updated from Before “19 Sept” to “26 Sept” to not create false hope
  • The principal + rewards of polyBUNNY tokens (in polyBUNNY maxi pool) held by the Dev team = 868,256 + 367,773 = 1,236,029 tokens. Plus, additional “135,380.514” polyBUNNY sitting in the wallet without farming -> Link
  • The new product, BUNNY Prediction Market will be launched on 14 Sept 2021, 06:00 UTC along with burning 10,237 BUNNY got from the pots -> Link
  • Our Mound Family member, KJ, published the PancakeBunny survey result. Please take your time to read this. It’s very interesting :) -> Link

Mound TVL & Status

Mound Stats as-of 2021–09–12 02:30 UTC

Insights

Dev Wallet as-of Sept 12th, 2021 2:30UTC
polyBUNNY minted to the team need to reach 1M tokens
polyBUNNY token supply as-of 12 Sept 2021 02:45UTC
The team burned 320,500.946 tokens since July 27, 2021, 05:00 UTC
  • As-of September 12, 2021 02:45UTC, there are 812,713.43 tokens minted to the team
  • The 320,500.946 tokens were burned since July 27, 2021 05:00 UTC
  • Since FRE mechanism has been activated due to the polyBUNNY price is greater than FRE threshold (500 polyBUNNY : 1 ETH), so 6% of claiming rewards will be minted for every claims instead of 36% minting rate.
    Note: Need to better understand the FRE -> Read here
  • After monitoring the current minting rate week-by-week, there are around 2,000 polyBUNNY minted per day
Mound Bulletin as-of 11 Sept 2021
  • Rewards for BNB/BTC/ETH/USDT/BUSD Single Asset Vaults (SAV) on Qubit Platform= 770,000 QBT per day
  • PancakeBunny SAV TVL as-of 12 Sept = 38.87 million USD which equals to 38.87 / 790.833 = 4.915% of Qubit Platform.
PancakeBunny SAV TVL vs Qubit Platform TVL
  • The QBT Vault size for this month will equal to 100,000,000 QBT / 12 = 8.33 Million meaning that PancakeBunny will have 8.33 million qScore
Deposit 100M QBT / 12 to QBT Vault over 12 months
  • Since the total qScore on Qubit Platform as-of 12 Sept 2021 3:30UTC is around 4.952 million qScore.
    So, the % portion of QBT Vault’s qScore = 8.33 / (4.952 + 8.33) = 62.71%
  • From the 2nd bullet above, the PancakeBunny SAV TVL = 4.915% of Qubit Platform while the qScore of QBT Vault will be 62.71% of Qubit platform. So, it is “more than enough” to boost 2.5X QBT rewards for PancakeBunny SAV
Total qScore as-of 12 Sept 2021 3:30UTC = 4.952 million qScore
  • % Portion of the QBT Bonus rewards generated by PancakeBunny SAV will be distributed to QBT Vault = 10%
  • BUNNY = 3,000,000 tokens @ 5.49 USD : 72% 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 @ 2.56 USD : 189% APR
  • QBT = 100,000,000 tokens @ 0.249 USD : 0% APR
  • 3 / 2.395 = 1.252 BUNNY
  • 0 / 2.395 = 0 polyBUNNY
  • 100 / 2.395 = 41.753 QBT
  • This number is the daily reward actually generated by Mound vault not counting the 75-days-accumulated BUNNY rewards from previous months
  • You may notice that the APR on the Mound website showing 120% APR but please keep in mind that the rewards distributed this month includes both the 75-days-accumulated BUNNY rewards and the actual daily reward.
  • On Day 1, reward rate is 0.0095 BUNNY / MND per day
  • On Day 2 , reward rate is 0.00916 BUNNY / MND per day
BUNNY Maxi Reward Distribution Mechanism : 30-Days-Amortization
30-Days-Amortization rewards during 10–17 Sept 2021

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Tanate Sukonrattanamaetee

Tanate Sukonrattanamaetee

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

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