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

Hello Mound Fam,

We have two GREAT news for Qubit and Bunny this week!!!

News

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)

Effective value of MND token (TVL / MND tokens) = 4.64 USD
Current Market Price = 2.28 USD

Pay BUNNY Rewards = 0.0026 BUNNY/MND/day
Pay QBT Rewards = 0.0103 QBT/MND/day
Pay polyBUNNY Rewards = 0.0618 polyBUNNY/MND/month*

Mound Stats as-of 28th Nov 2021 13:20 UTC

MND/WBNB PCS Liquidity Pool Statistics:

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:

the MND vault’s asset values = (3,000,000 x 2.13) + (100,000,000 x 0.041) + (1,000,000 x 0.53) = 11.02 millions USD

So far, there are only 2.243 Million MND tokens staked in the Mound Vault and less than 20,000 MND tokens in form of MND/WBNB LP. However, to be conservative, we will assume that there will eventually be around 2.3 Million MND staked to the vault.

MND NAV per token = 11.02 / 2.3 = 4.79 USD

And for every 1 MND token holding, it equals to hold 3 tokens as follows:

The current daily rewards in Mound Vault will include:

BUNNY daily rewards = (3,000,000 x 2.13) x (58% / 365 days) = 10,153 USD
= 4,767 BUNNY tokens per day
= 0.00207 BUNNY/MND/day
= 2.07 BUNNY per 1,000 MND per day

QBT daily rewards = (100,000,000 x 0.041) x(5.28% / 365 days) = 593 USD
= 14,465 QBT tokens per day
= 0.00628 QBT/MND/day
= 6.28 QBT per 1,000 MND per day

polyBUNNY daily rewards = (1,000,000 x 0.53) x (173% / 365 days) = 2,512 USD
= 4,739 polyBUNNY tokens per day
= 0.00206 polyBUNNY/MND/day
= 2.06 polyBUNNY per 1,000 MND per day
= 61.8 polyBUNNY per 1,000 MND per month

Daily rewards per MND token = (10,153 + 593 + 2,512) / 2,300,000 = 0.00576 USD

APR vs MND effective value = (0.00576 x 365 days) / 4.79= 43.89%
APR vs MND market price
= (0.00576 x 365 days) / 2.28 = 92.21%

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

In simpler term, if we have 1,000 MND staked in the MND Vault, we should get around:

29-Nov-21 = 2.6 BUNNY + 10.2 QBT
30-Nov-21 = 2.6 BUNNY + 10.2 QBT
01-Dec-21 = 2.5 BUNNY + 10.1 QBT
02-Dec-21 = 2.5 BUNNY + 10.1 QBT
03-Dec-21 = 2.5 BUNNY + 10.1 QBT
04-Dec-21 = 2.5 BUNNY + 10.0 QBT
05-Dec-21 = 2.5 BUNNY + 10.0 QBT

16-Dec-21 = 2.4 BUNNY + 9.7 QBT + 61.8 polyBUNNY**

** According to the PolyBunny Farming & Reward Distribution Mechanism mentioned in the team’s article, the polyBUNNY monthly rewards will be distributed around 16-Dec-21.

Thoughts

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

My assumption is that the PancakeBunny platform itself will open the new LP pools (Quite similar concept as their Qubit Single Asset Vaults) so it will post the LP as collateral and then borrow the assets to reinvest more LPs back to the pool.

If this is the case, I’m guessing there will be positive impacts to BUNNY, bQBT, QBT and MND as follows:

MND Vault : Introduction 2.1

IMPORTANT : These are my assumptions that could be wrong. So, please wait for the official announcement of this feature.

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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

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My MND Articles

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Tanate Sukonrattanamaetee

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