The Mound Vault Opens Today!

Hey Bunny Fam,

The time has come for the Mound Vault to open. As explained in previous posts, the Mound Vault is the vehicle created to capture and distribute the full value of our ecosystem expansion directly to the PancakeBunny Community. Delivering claiming functionality is the next step in realizing this vision.

As we move ahead, you can expect the upcoming QBT Vault and SAVs on PancakeBunny to add to BUNNY’s value and deliver great APYs once they launch. These will launch soon pending the results of their audit. Additionally, our Prediction Market, which we’ve teased, is only days away from launch as well. Lastly, watch news of our next token burn and regularly scheduled burns after that.

Some important information:

  • The Claiming period will begin on September 10 2021 0600 UTC. Assuming you have MND staked at that time, your first claim should be two hours after. The Mound Vault harvests every two hours, similar to our other services.
  • You can stake now at mndvault.mound.finance ahead of time to ensure you do not miss out on any of your claiming farming profits
  • You can claim any time, once the claiming period begins.
  • The first claim is in BUNNY only. The accumulated farming profits from the original BUNNY contribution by the Team and the BUNNY swapped by the Community are available for claim over a 30-day period.
  • As previously announced, once 1 million polyBUNNY has been minted to the Team, the Team will commit its polyBUNNY contribution to the Mound Vault, and the Mound Vault will begin farming its polyBUNNY. When polyBUNNY farming profits are available for claiming, you will have to switch networks on the Mound Vault page in order to claim.
  • QBT farming profits will begin distribution once the Mound Vault begins farming its QBT on Qubit in the next few days.
  • As announced, the Mound Vault’s 100 Million QBT will be farmed on Qubit in monthly tranches added each month over 12 months. But recall that in order to eliminate discounting of the QBT promise to Mound Vault, the Team minted and irrevocably contributed all 100M QBT at once.
  • However, it is important to bear in mind that injecting the 91.7M QBT “pre-mined” from the future 11 months into the Qubit ecosystem in month 1 would break the tokenomics and it was never the intent.
  • Thus the amount of active QBT in the Mound Vault (i.e. used in the ecosystem) at any given time must be the amount that should properly have existed (e.g. about 10% of the total QBT mined each month) at that time to avoid oversupply in the system relative to all of the other QBT mined.
  • For example, locking up 100 million QBT in the QBT Locker all at once, especially early on in the mining period, would only marginally increase the qScore/rewards multiple for the Mound Vault while significantly depressing the qScores for all of the rest of the users in the community.
  • Similarly, staking the QBT in the Qubit Supply markets all at once would lead to a cycle of borrowing and selling that would significantly depress the price of QBT.
  • That being said, the team is looking at measures to deliver value to MND holders earlier than a 12-month allocation of QBT would.

Our team has compiled some of your more pertinent questions and our dev team has taken the time to answer them. Below you will find the FAQ.

Mound Vault FAQ

‌Claiming requires staking your MND in the vault. As with other products, you can harvest farming profits approximately every 2 hours.

‌With regard to BUNNY, the accumulated farming profits from the original BUNNY contribution by the Team and the BUNNY swapped by the Community are available for claim over a 30-day period beginning Sept 10 0600 UTC

‌You can claim at any time.

‌The farming profits will be split only among those who have staked.

‌The Mound Vault contract code is much simpler than BUNNY. We anticipate that gas fees will be lower than claiming on PancakeBunny.

‌Yes, you will be able to do this.

‌Yes, as with any good-will project, the dev team stakes and owns tokens in the ecosystem just like the community. This means that the dev team has an active incentive to ensure the long-term stability of the tokens, can continue to find ways to grow, and can fund organizational expenses.

‌No, the Mound Vault will award polyBUNNY when the predetermined allocation is reached, without substitute.

‌Yes. As new projects are added to the Bunny Ecosystem and as we add more fee based products, a portion of the project tokens and share of fees will be added to the Mound Vault. ‌

‌There are no plans to add assets from projects outside of the Mound ecosystem.

Recall that in order to eliminate discounting of the QBT promise to Mound Vault, the Team minted and irrevocably contributed all 100M QBT at once.

However, it is important to bear in mind that injecting the 91.7M QBT “pre-mined” from the future 11 months into the Qubit ecosystem in month 1 would break the tokenomics and it was never the intent.

Thus the amount of active QBT in the Mound Vault (i.e. used in the ecosystem) at any given time must be the amount that should properly have existed (e.g. about 10% of the total QBT mined each month) at that time to avoid oversupply in the system relative to all of the other QBT mined. (See more in the FAQ below).

For example, locking up 100 million QBT in the QBT Locker all at once, especially early on in the mining period, would only marginally increase the qScore/rewards multiple for the Mound Vault while significantly depressing the qScores for all of the rest of the users in the community.

Similarly, staking the QBT in the Qubit Supply markets all at once would lead to a cycle of borrowing and selling that would significantly depress the price of QBT.

That being said, the team is looking at measures to deliver value to MND holders earlier than a 12-month allocation of QBT would.

‌We currently do not have plans for a feature like this.

‌Because the Mound Vault includes polyBUNNY and other assets that will create complexity, we do not plan on implementing this feature.

‌Due to the complexity of having 3 tokens in the vault, the team will only focus on showing the APR at this time.

‌No. There is no way for MND to be minted this way; a flash loan exploit is not possible.

‌We updated the roadmap on our Notion space recently. However, we will work to update the roadmap more frequently with a higher level of granularity moving forward. Stay tuned for exciting new developments this quarter and next quarter.

‌The Mound Vault’s focus is to capture value from all projects in the ecosystem, so there will likely not be any other pools or functionality — just more value from new projects.

‌These are in various stages of research and/or development. We can expect some or all of these to launch within the next two quarters.

‌We have thought about creating these features, but we also realize that our community utilizes various dashboard services for monitoring their assets. Currently, we are focusing on investment-related development.

‌After approximately 24 months, MND holders will be able to vote on whether the Mound Vault will release some or all of the assets held in common to the MND community.

‌We are thinking about onboarding new projects or initiatives at a steady cadence. However, we also believe it is just as important to develop existing projects to their best potential.

‌The Mound Vault will always be a value aggregator of the BUNNY ecosystem.

‌Products like the Multiplexer and leveraged tokens will benefit the Mound Vault. Stay tuned for other exciting and surprising initiatives.

‌As we move forward, we’ll work to conceptualize what kind of governance role MND holders have beyond deciding what to do with the assets in the Mound Vault.

‌As mentioned, the Mound Vault captures value from our projects and tokens. We do not foresee any drastic changes to the Mound Vault’s main function.

‌We thank the community for the suggestion. We receive very good and often interesting suggestions that’s passed on to us frequently. In regards to the Pots, we do not currently have plans to roll this out. We appreciate the community for always staying engaged in advancing the Mound ecosystem.

‌No, there is no burn plan for MND as there will be no extra MND minted.

‌Currently there are no plans to mint any more. If the community wants it, we will consider it in the future.

‌Team Bunny will consider what to do when 6 months have passed. The Team committed to provide liquidity if there was none at the end of 6 months. Currently, liquidity does exist, but it is low, which has contributed significantly to depressing the market value of MND (as opposed to MND’s intrinsic value — see mndvault.mound.finance). The parameters that affect token price are complex, so it is not a foregone conclusion that the provision of more liquidity under current conditions would increase the price of MND.

‌NFTs are indeed very popular. We are, of course, aware of the trends and will explore more.

‌There are approximately 25+ developers within the team. The number of members in each project may increase or decrease based on the project’s workload and issues. Please refer to our roadmap page, which will be updated more frequently. Also note that some projects or initiatives may be too early in the research and development phase to be listed. You can rest assured that we keep track of new innovations in the industry.

‌The Mound Vault is an aggregator of value, therefore it’s more important for each individual project to be a success and drive value to MND. Consequently you can expect more aggressive marketing and awareness initiatives regarding each project across multiple channels.

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One of the most popular auto-compounding yield aggregators on the Binance Smart Chain. https://pancakebunny.finance/