Mound (MND) Update as-of 28-Aug-2021

Highlights this week

  • QBT Launched on time and has already reached 400 Millions USD TVL within 4 days (Est. +100 millions per day!) -> Link
  • The principal + rewards of polyBUNNY tokens (in polyBUNNY maxi pool) held by the Dev team = 840,284 + 275,939 = 1,116,223 tokens-> Link
  • The Bunny Maxi Pool Rewards will be maintained to be at least 50% APY even the FRE mechanism still keep buying back BUNNY -> Link
  • PancakeBunny and Qubit Begin Joint Mining with MDEX.com for weeks -> Link
  • MND Vault details will be shared in early next week (Before 1 Sept?) and may launch a little earlier than 10 Sept -> Link

Mound TVL & Status

Mound Stats & APY Estimation as-of 2021–08–28 10:33 UTC

Insights

QBT Vault under audit
PancakeBunny SAV TVL (50M) vs Qubit Platform TVL (400M)
QBT Rewards : Gitbook
QBT Boost Example : Gitbook
Github : QBT Vault Reward Formula
  • Rewards for BNB/BTC/ETH/USDT/BUSD pools on Qubit Platform= 770,000 QBT per day
  • PancakeBunny SAV Lending Amounts = 10% of Qubit Platform
  • The QBT Rewards belong to PancakeBunny SAV will be boosted to 2.5X (Basic + Bonus = 1 + 1.5)
  • % Portion of the QBT Bonus rewards generated by PancakeBunny SAV will be distributed to QBT Vault = 10%
QBT Vault Source code on Github
  • BUNNY = 3,503,920 tokens @ 8.61 USD : 69% APR
    Note: The Bunny Maxi APR was dropped to 69% due to the fact that the reward in the pool was rebooted on 19 Aug. And the FRE mechanism is now using all performance fees to stabilize the BUNNY price by buying back BUNNY from the market instead of minting BUNNY as rewards to the pools. So, since 19 Aug until now, the Bunny Maxi pool hasn’t got the performance fees to boost its APR. However, you may notice that the FRE cannot win the selling pressure right now. That’s why the BUNNY Price is still dropping even we have been diligently buying our BUNNY back from the market.
    Need to understand BUNNY FRE -> Read my FRE article here
  • polyBUNNY =1,116,223 tokens @ 3.55 USD : 199% APR
  • QBT = 100,000,000 tokens @ 0.4895 USD : 0% APR
  • 1.2893 BUNNY
  • 0.4107 polyBUNNY
  • 36.797 QBT
  • 600,000 / 2,717,604 = 0.220 BUNNY
  • 180,000 / 2,717,604 = 0.066 polyBUNNY
  • 3,000,000 / 2,717,604 = 1.103 QBT
  1. Bunny Maxi APR dropped to 69% and could keep dropping to 40.57% APR (= 50% APY)
  2. QBT Vault launch date will be delayed
  3. QBT Vault APR prediction dropped from 70% APR to 4.215% APR
  4. Mound Vault launch date could be a little earlier than 10 Sept (7–9 Sept?)
  • 550,000 BUNNY (Dropped from my last estimation which is around 600,000 BUNNY)
  • 180,000 polyBUNNY (Same prediction)
  • 0 QBT
  • 550,000 / 2,717,604 = 0.2023 BUNNY
  • 180,000 / 2,717,604 = 0.066 polyBUNNY
  • 0 / 2,717,604 = 0 QBT
Current %APY of PancakeBunny SAV
  • 2,717,604 tokens fixed supply (All of them have already been minted)
  • It will basically hold 3,000,000 BUNNY tokens / 1,000,000 polyBUNNY tokens / 100,000,000 QBT tokens in the vault
  • The MND token holders can claim their 1st rewards from the vault first time on 10th September or earlier (could be around 0.2023 BUNNY, 0.066 polyBUNNY per MND token)
  • On 10th September 2021, “all” tokens in the Mound vault will being farmed to generate yield for MND token holders
  • After the 1st claim, the holders can claim their daily rewards (Around 37.01% APR)
  • In the future (2+ months), the Mound team could add some new project’s token and the fees to the Mound Vault. That means more rewards for the MND token holder in the far future
  • In 2 years from now, they “could” have a vote to redeem the tokens from the vault (eg. BUNNY, polyBUNNY, etc.) and return them back to the MND token holder

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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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