Mound (MND) Update as-of 26-Dec-2021

News

  • Qubit — X-Collateral feature has been launched since 20th Dec 2021 05:00 UTC with 197 ETH deposited on Qubit -> Link
Qubit : xETH
  • Qubit on the MVBIII Demo Day since 16 Dec 2021 -> Link
Qubit on MVBIII Demo Day

MND Status as-of 26-Dec-2021

TVL (Total Value Locked) = 6.942 Million USD
BUNNY tokens = 3 Million tokens
QBT tokens = 100 Million tokens
polyBUNNY tokens = 1 Million tokens
Total MND Staked = 2.245 Million tokens (82.61% of total supplies)

Mound Stats as-of 26-Dec-2021 09:40 UTC
  • MND tokens = 12,350 MND
  • WBNB tokens = 37.21 WBNB
  • APR% = 103.32%
MND/WBNB PCS Liquidity Pool

BUNNY/PolyBUNNY/QBT Status as-of 26-Dec-2021

PCB vs Qubit Stats as-of 26-Dec-2021
  • polyBUNNY in MND Vault : Accumulated Rewards since 16th Dec 2021 until now (26th Dec 2021 09.40UTC) = 45,678 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. The next QBT tranch (8.33 million QBT tokens) will be added to the MND vault on 1st Jan 2022.
TIN Network Scanner : QBT farming for MND vault
  • BUNNY Supply Net Rate = 42.68%, Borrow Net Rate = -6.03%
  • 90.33K / 187.00K = 48.30% BUNNY tokens are borrowed.
BUNNY Supply & Borrow Market on Qubit

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

Accumulated reserved assets on Qubit Platform

As-of 26th Dec 2021 09:55UTC, the BSC Qubit protocol fees are around 848,000 USD and can be separated as the following assets:

Twitter : Qubit Roadmap

MND Valuation as-of 26-Dec-2021

The underlying assets in the Mound Vault are as follows:

  • BUNNY = 3,000,000 tokens @ 1.273 USD : 53% 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 @ 0.014 USD : 5.28% APR
    Note: After monitoring the results, the QBT reward rate has been declined from 0.0084 QBT/MND (18 Dec 2021) to 0.0082 QBT/MND (26 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 @ 0.286 USD : 161% 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 27 Dec 2021–2 Jan 2022 as shown in the table below.

30-Days-Amortization reward rate prediction on 27 Dec 2021–2 Jan 2022

Thoughts

I saw some interesting news in the Qubit MVBIII Demo Day slides as follows:

  • DApp-to-DApp (D2D) Strategy : A win-win strategy to boost the Qubit TVL and being the “Lending-as-a-utility” for our partners
Qubit D2D Strategy
Lexer Finance x Qubit Partnership
  • Qubit 2022 Q1 Roadmap indicates the Cross-chain and Leveraged Liquidity Farming support for “Klaytn”. So, if the Cross-chain & In-chain Multiplexers will be launched on Klaytn chain, we may expect the yield aggregator(s) on Klaytn to utilize the Qubit xLP and X-Collateral features to achieve that. Hopefully, one of the yield aggregator on Klaytn will be “kBUNNY”!!!
Qubit 2022 Q1 Roadmap
In-Chain Multiplexer Pools

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Tanate Sukonrattanamaetee

Tanate Sukonrattanamaetee

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