Mound (MND) Update as-of 23-Oct-2021

PancakeBunny Contract Audit by Theori
All PCB audit reports
  • The Prediction Market supports Mobile version
Prediction Market : Mobile Version
Qubit Network Expansion to Klaytn

MND Status as-of 23 Oct 2021

TVL (Total Value Locked) = 20.698 Million USD
BUNNY tokens = 3 Million tokens
QBT tokens = 100 Million tokens
Total MND Staked = 2.219 Million tokens (81.65% of total supplies)

Mound Stats as-of 23th Oct 2021 04:00 UTC

PCB/QBT/polyBunny Status as-of 23 Oct 2021

  • Accumulated treasury amounts from Prediction Market = 1.9252 BNB
Prediction Market Treasury Amount
PCB vs Qubit Stats as-of 23 Oct 2021
  • The principal of polyBUNNY tokens held by the Dev team = 961,798.851 + 14,877.452 + 9,117.506 + 5.605 = 985,799.414 tokens
  • Estimated polyBUNNY tokens minted to Dev Wallet = 2,000 tokens per day
  • Days Left to reach 1M polyBUNNY on principal side = 7.1 days (Around 31 Oct 2021)
Dev Wallet : polyBunny Principals

MND Valuation as-of 23 Oct 2021

The underlying asset in the Mound Vault are as follows:

  • BUNNY = 3,000,000 tokens @ 3.64USD : 58% 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 @ 1.70 USD : 150% 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.
  • QBT = 100,000,000 tokens @ 0.093 USD : 12.25% APR
    Note: After monitoring the results, we’ve kept getting better and better QBT reward rate from 0.0136 QBT/MND last week to 0.0159 QBT/MND today (23 Oct 2021). Since there is the 50% boost rewards, we will keep getting much better rate next week (Could be around 0.0168 QBT/MND on 26 Oct). However, after 26 Oct, my latest model indicates that the reward rate should steadily decline to around 0.0150 QBT/MND/day or 12.25% APR.
MND/WBNB Liquidity on PancakeSwap
  • 3 / 2.472 = 1.213 BUNNY
  • 0 / 2.472 = 0 polyBUNNY
  • 100 / 2.472 = 40.453 QBT

MND Valuation as-if we have polyBUNNY added to the vault

Someone may ask, what if we have polyBUNNY added to the MND vault, how much NAV and APR?

  • 3 / 2.472 = 1.213 BUNNY
  • 1 / 2.472 = 0.4045 polyBUNNY
  • 100 / 2.472 = 40.453 QBT
  • The MND vault APR will eventually decline to this rate after all accumulated BUNNY rewards before 1st claim date are all distributed. It won’t be empty immediately after 10 Oct 2021 but it will steadily be declined to this rate in upcoming months
  • This APR is calculated against MNV NAV (which is 8.867 USD). So, if we calculate the APR vs MND market price (which is less than 5 USD), we should get much better rate.

MND Vault Reward Prediction next week

Using the 30-days-amortization reward distribution method, we can then predict the reward per MND during 24–31 Oct 2021 as shown in the table below.

30-Days-Amortization reward rate prediction on 24–31 Oct 2021

Thoughts

The PCB TVL and Qubit TVL are increasing to 705M and 927.9M USD this week. Hopefully, the Qubit Network expansion to Klaytn will have enough network effect to boost Qubit TVL to 1 Billion USD again.

DefiStation : PCB TVL
QBT.FI : Qubit TVL
CoinMarketCap : QBT Price Recovery since 20–23 Oct

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Tanate Sukonrattanamaetee

Tanate Sukonrattanamaetee

187 Followers

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