Mound (MND) Update as-of 18-Dec-2021

News

  • In-Chain Multiplexer (Leveraged Yield Farming) on PancakeBunny has already been launched on 16 Dec 2021 with great APYs-> Link
In-Chain Multiplexer Pools : 3M TVL in 2 days
  • Qubit — X-Collateral, the game changer feature will be launched on 20th Dec 2021 05:00 UTC -> Link
X-Collateral Launch Date

MND Status as-of 18-Dec-2021

TVL (Total Value Locked) = 6.471 Million USD
BUNNY tokens = 3 Million tokens
QBT tokens = 100 Million tokens
polyBUNNY tokens = 1 Million tokens
Total MND Staked = 2.249 Million tokens (82.756% of total supplies)

Mound Stats as-of 18-Dec-2021 14:00 UTC
  • MND tokens = 13,580 MND
  • WBNB tokens = 36.32 WBNB
  • APR% = 84.48%
MND/WBNB PCS Liquidity Pool

BUNNY/PolyBUNNY/QBT Status as-of 18-Dec-2021

PCB vs Qubit Stats as-of 18-Dec-2021
  • polyBUNNY in MND Vault : Accumulated Rewards since 16th Dec 2021 until now (18th Dec 2021 14.30UTC) = 10,877 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 = 62.13%, Borrow Net Rate = -26.40%
  • 74.15K / 141.52K = 52.39% 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 = 5.59BNB.
Prediction Market : Treasury Amount

Accumulated reserved assets on Qubit Platform

As-of 18th Dec 2021 15:45UTC, the Qubit protocol fees are around 810,000 USD and can be separated as the following assets:

Twitter : Qubit Roadmap

MND Valuation as-of 18-Dec-2021

The underlying assets in the Mound Vault are as follows:

  • BUNNY = 3,000,000 tokens @ 1.165 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 @ 0.013 USD : 5.28% APR
    Note: After monitoring the results, the QBT reward rate has been declined from 0.0089 QBT/MND (12 Dec 2021) to 0.0084 QBT/MND (18 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 @ 0.36 USD : 154% 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 19–25 Dec 2021 as shown in the table below.

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

Thoughts

According to the latest article regarding Leveraged Yield Farming (In-Chain Multiplexer), both 3% performance fee and 5% liquidation penalty will go to the Bunny reward pool aka Bunny Maxi pool.

Leveraged Farming Article
  • CAKE-BNB Leverage APY = 116.50% -> APR = 77.32%
    (126,504 x 77.32% / 365 days) x 3% = 8 USD per day
  • USDT-BUSD Leverage APY = 17.43% -> APR = 16.07%
    (2,943,135.18 x 16.07% / 365 days) x 3% = 38.87 USD per day
  • ETH-BNB Leverage APY = 39.63% -> APR = 33.40%
    (128,105.96 x 33.40% / 365 days) x 3% = 3.51 USD per day
  • Total Performance fee = 8 + 38.87 + 3.51 = 50.38 USD per day

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Tanate Sukonrattanamaetee

Tanate Sukonrattanamaetee

187 Followers

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