The Mound Vault Begins QBT Farming
We are excited to announce that the Mound Vault’s QBT will begin farming today at UTC+0 0800.
Mound Vault’s QBT Farming
As mentioned in a previous post, the 100,000,000 QBT committed to the Mound Vault on behalf of MND holders will be farmed in twelve equal tranches that will be added to the farming allocation over the period of twelve months. (Recall that the reason for adding QBT for farming in tranches instead of all at once is to avoid farming pre-minted QBT, which would skew the protocol’s tokenomics.) The first tranche of QBT will go directly into the QBT Supply Market to collect Supply interest. These profits will go directly to MND holders who have staked their MND at the Mound Vault at https://mndvault.mound.finance/.
Like most harvest functions on all of our projects, you can expect that the first benefits will be available to claim approximately two hours after farming begins. To claim, simply tap or click the ‘Claim’ Button in the Profit section of the Mound Vault page.
Supplemental Farming Profits
Although 100,000,000 QBT was committed to the Mound Vault all at once, farming all of the pre-mined QBT ahead of schedule from the beginning would be detrimental to Qubit’s tokenomics. However, the Team has decided to contribute an amount of QBT directly to the Mound Vault that is roughly equivalent to the profits that would have been earned if all of the pre-mined QBT were mined ahead of schedule and all at once in order to make up for any confusion that some members of the Community have voiced.
This means that the Team will make up from the Team’s funds any shortfall in QBT farming profits that results from the necessity to farm in tranches (i.e. first Tranche 1, then Tranches 1+2, then Tranches 1+2+3, etc.).
The shortfall will be calculated by subtracting the actual Daily QBT Reward farmed by the Mound Vault from the Expected Daily QBT Reward that would accrue if all 12 Tranches were farmed all at once.
Based on our models, the Daily Reward and APR are approximately:
Expected Daily QBT Reward = 16341.76 QBT
Expected QBT APR = 5.96%
We are excited to take this next step into the ecosystem journey with MND holders. We hope to deliver good news about polyBUNNY and other utilities contributing to the Mound Vault very soon.
And remember, as always Bunny Fam, Keep Calm and HOP ON!