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


  • Qubit selected as one of the Top 10 Players MVBIII -> Link
  • In-Chain Multiplexer will be launched before 5th Dec 2021 -> Link

MND Status as-of 28-Nov-2021

TVL (Total Value Locked) = 12.617 Million USD
BUNNY tokens = 3 Million tokens
QBT tokens = 100 Million tokens
polyBUNNY tokens = 1 Million tokens
Total MND Staked = 2.243 Million tokens (82.53% of total supplies)

Mound Stats as-of 28th Nov 2021 13:20 UTC
  • MND tokens = 13,660 MND
  • WBNB tokens = 52.07 WBNB
  • APR% = 95.18%
MND/WBNB PCS Liquidity Pool

BUNNY/PolyBUNNY/QBT Status as-of 28 Nov 2021

PCB vs Qubit Stats as-of 28 Nov 2021
polyBUNNY in MND Vault

MND Valuation as-of 28 Nov 2021

The underlying assets in the Mound Vault are as follows:

  • BUNNY = 3,000,000 tokens @ 2.13 USD : 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
  • QBT = 100,000,000 tokens @ 0.041 USD : 5.28% APR
    Note: After monitoring the results, the QBT reward rate has been declined from 0.0111 QBT/MND (21 Nov 2021) to 0.0103 QBT/MND (28 Nov 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 @ 0.53 USD : 173% 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 29 Nov — 5 Dec 2021 as shown in the table below.

30-Days-Amortization reward rate prediction on 29 Nov — 5 Dec 2021


For the next week, the most interesting thing is about the “BUNNY In-Chain Multiplexer” feature.

  • To bQBT : The more pools on PCB, the more deposit & borrowing powers, the more QBT rewards shared to bQBT & bQBT/BNB stakers
  • To BUNNY : It seems like the In-Chain Multiplexer could charge the protocol fees for buying back and burn the BUNNY tokens
  • To QBT : The more deposit & borrowing powers, the more TVL & protocol fees being generated
  • To MND : If the In-Chain Multiplexer charge the protocol fees, the MND vault should receive a portion of the fees as well (according to the MND Vault Introduction : Item 2.1)
MND Vault : Introduction 2.1



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Tanate Sukonrattanamaetee

Tanate Sukonrattanamaetee


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