Mound (MND) Update as-of 31-Oct-2021

  • Expanded our Qubit service to Klaytn network and the supply TVL already reached 30M USD.
https://klaytn.qbt.fi/app
  • Increased QBT collateral price upper limit from $0.10 to $0.15
  • Added the 2nd tranch of QBT from MND Vault to QBT Deposit market so we have had 16.66M QBT deposited since 26 Oct 2021
MND Vault : QBT Deposit Market

MND Status as-of 31 Oct 2021

Mound Stats as-of 31th Oct 2021 05:30 UTC
  • MND tokens = 8,430 MND
  • WBNB tokens = 66.70 WBNB
  • APR% = 163.33%
MND/WBNB PCS Liquidity Pool

PCB/QBT/polyBunny Status as-of 31 Oct 2021

  • Accumulated treasury amounts from Prediction Market increased from 1.9252 BNB (since 23 Oct 2021) to 3.1682 BNB today (31 Oct 2021)
Prediction Market Treasury Amount
PCB vs Qubit Stats as-of 31 Oct 2021
  • The PolyBunny Maxi pool’s principal held by the Dev team = 976,213 tokens
  • Estimated polyBUNNY tokens minted to Dev Wallet = 2,000 tokens per day
  • Days Left to reach 1M polyBUNNY on principal side = 11.89 days (Around 12 Nov 2021)
    Note : Since the sum of principals in all pools already reached 1M tokens. However, according to our Moderator, Moleh, mentioned in the Telegram, it seems like we should take a look at the principal in “only” the PolyBunny Maxi pool which is around 976K tokens and so we need to wait for 12 more days to reach 1M tokens.
Dev Wallet : polyBunny Principals

MND Valuation as-of 31 Oct 2021

  • BUNNY = 3,000,000 tokens @ 3.41 USD : 57% 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 @ 1.72 USD : 140% 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 @ 0.087 USD : 9.76% APR
    Note: After monitoring the results, the QBT reward rate has been declined from 0.0159 QBT/MND (23 Oct 2021) to 0.0144 QBT/MND (31 Oct 2021) and my model indicates that the reward rate may keep being declined to 0.0120 QBT/MND or 9.76% APR.
  • 3 / 2.4775 = 1.2108 BUNNY
  • 0 / 2.4775 = 0 polyBUNNY
  • 100 / 2.4775 = 40.363 QBT

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

  • 3 / 2.4775 = 1.2108 BUNNY
  • 1 / 2.4775 = 0.4036 polyBUNNY
  • 100 / 2.4775 = 40.363 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 MND NAV (which is 8.335 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

30-Days-Amortization reward rate prediction on 1–7 Nov 2021

Thoughts

Mound Weekly Bulletin 10/30
Team Bunny Roadmap : 2021 Q4
Qubit Quarterly Roadmap

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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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