Mound (MND) Update as-of 23-Jan-2022
Hello Mound Fam,
The PancakeBunny team already published their 2022 roadmap mentioning the following features will be launched in Q1/2:
- Venus Single Asset Vaults (Auto-compounding rewards back to the vault, we will charge 1% auto-compounding fee)
- stBNB (Delegating BNB and auto-compound the rewards back to Validators, APY over 10%)
- Bunny Fee Structure Revision (Will adjust according to the voting proposal)
- Governance Revision & Forum (The community will better participate on the protocol governance thru Forum soon)
- Busy Bunnies NFT Staking Vault (Privileges for voting, access to Private and Beta products, Fee reduction)
News
- PancakeBunny 2022 Roadmap -> Link
- Lexer (Qubit Partner) Airdrop Event -> Link / Discord Invitation
MND Status as-of 23-Jan-2022
Total MND Staked = 2.254 Million tokens (82.94% 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 : 137% APR
Reward Distribution per 1 MND as-of 23 Jan 2022
- 0.00200 BUNNY/MND/day
- 0.00710 QBT/MND/day
- 0.05460 polyBUNNY/MND/month*
MND rewards per day in USD
= [(0.00200 x 0.6099) + (0.00710 x 0.0066) + (0.05460 x 0.11 / 30)]
= 0.001475 USD per MND per day
APR vs MND Market Price = 0.001475 x 365 / 0.8238 = 65.35%
APR vs MND Effective Value = 0.001475 x 365 / 1.50= 35.89%
Reward prediction next week
If we have 1,000 MND staked in the MND Vault, we should get around:
24-Jan-22 = 2.00 BUNNY + 7.06 QBT
25-Jan-22 = 1.99 BUNNY + 7.03 QBT
26-Jan-22 = 1.99 BUNNY + 6.99 QBT
27-Jan-22 = 1.98 BUNNY + 6.96 QBT
28-Jan-22 = 1.98 BUNNY + 6.93 QBT
29-Jan-22 = 1.97 BUNNY + 6.90 QBT
30-Jan-22 = 1.97 BUNNY + 6.87 QBT
…
16-Feb-22 = 1.91 BUNNY + 6.07 QBT + 54.60 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
- 12,120 MND / 27.08 WBNB / APR% = 138.11%
BUNNY/PolyBUNNY/QBT Status as-of 23-Jan-2022
- PCB SAV TVL = 50M USD / Qubit TVL = 183.11M USD (27.30%)
- bQBT = 41.343M Tokens / QBT Staked= 62.884M Tokens (65.74%)
- QBT in Supply Market = 151.087M tokens / Circulating Supply = 240.353M tokens (62.86%)
- QBT Staked = 62.884M Tokens/ Circulating Supply = 240.353M Tokens (26.16%)
- PancakeBunny xLP : 6 Pools with 3.2M USD TVL
- PancakeBunny Venus Vaults : 5 Pools with 1.4M USD TVL
- Qubit x-Collateral TVL = 198 xETH from 13 suppliers
- polyBUNNY in MND Vault : Accumulated Rewards since 17th Jan 2022 until now (23th Jan 2022 01.30UTC) = 23,077.375 tokens
- 33 million QBT tokens (belong to the MND vault) on the QBT Deposit market
- BUNNY Supply Net Rate = 44.74%, Borrow Net Rate = -31.71%
- 56.80K / 109.05K = 52.08% BUNNY tokens are borrowed
- 153 BUNNY Suppliers vs 42 BUNNY Borrowers
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 (23-Jan-2022 01:30UTC), the BUNNY Price is 0.6000 USD & the BNB price is 365 USD. So, we can burn around 499.19 x 365 / 0.6000 = 303,673 BUNNY
Accumulated reserved assets on Qubit Platform
As-of 23-Jan-2022 01:30UTC, the BSC Qubit protocol fees are around 712,457 USD and can be separated as the following assets:
- 632.76 BNB
- 18.55 ETH
- 80,890 BUSD
- 9,586 DAI
- 77,208 USDT
- 49,175 USDC
- 3.86 BTCB
- 10,166 CAKE
- 17,580 MDX
- 224,970 QBT
- 828 BUNNY
Note : The “Qubit Protocol Fee Sharing” launch plan is on Q1 Y2022
Thoughts
According to the “Bunny Fee Structure Revision” section in the PancakeBunny 2022 Roadmap,
The adjusted parts are:
1) Charge 1% for unstaking the vaults within 72 hours (Previously, 0.5%)
2) Charge 1% Auto-compounding fee from all auto-compound Vaults (Previously, 0%)
3) Charge small fees from the upcoming investment goods, stBNB
4) Fee Utilization Adjustment
Before : Originally, the platform planned to buy back and burn the BUNNY using the “Pot and Prediction fees” and applied all the “Vault fees” for buying back and redistribute the BUNNY as the Vault’s rewards (thru FRE mechanism)
After : The platform will initially allocate all the fees to BUNNY Vault.
Once the BUNNY Vault’s APY reaches the suitable number, we will gradually shift some fees for adding BUNNY/BNB liquidity
Once we get the additional BUNNY/BNB liquidity from fees, the farming rewards (CAKE) gained from the raised LP portion will be allocated 50% for marketing and 50% for inflation control.
In summary, with this roadmap,
- BUNNY Vault’s APY will be increased OR stabilized at X% soon
- BUNNY Vault rewards will include BUNNY and “BNB” soon
- MND Vault rewards will include QBT, polyBUNNY, BUNNY and “BNB” soon
- BUNNY/BNB Liquidity will be gradually added soon (My guess is possibly Q2)
- We will soon have some funds for marketing and burning purposes (My guess is possibly Q2)
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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