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
How will claiming farming profits work?
Claiming requires staking your MND in the vault. As with other products, you can harvest farming profits approximately every 2 hours.
How will the vesting work?
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
Can we claim whenever we want, or is it going to be restricted to some set time period like every 2 weeks?
You can claim at any time.
If less than 100% of MND is staked will the farming profits be divided among those every 2 hours?
The farming profits will be split only among those who have staked.
What are the anticipated transaction fees for claiming? Are the contract interactions so complex that only larger investors will be able to claim daily?
The Mound Vault contract code is much simpler than BUNNY. We anticipate that gas fees will be lower than claiming on PancakeBunny.
Will we be able to stake or unstake after claiming has started?
Yes, you will be able to do this.
Will the team stake their own MND?
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.
For people who are not on polygon: Is it possible to swap polyBUNNY directly to one of the other farming profits (BUNNY or QBT)?
No, the Mound Vault will award polyBUNNY when the predetermined allocation is reached, without substitute.
Is it possible to change the assets in the vault, or will it only ever be 3M BUNNY, 1M polyBUNNY and 100M QBT?
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.
Are you looking for other assets to add from outside the Ecosystem?
There are no plans to add assets from projects outside of the Mound ecosystem.
What is the rationale for splitting MNDs QBT allocation into 1/12 for staking?
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.
On the Mound Vault website, is it possible to have a mini-exchange just for MND Token where we can set our own price to sell/buy MND Token paired with any stable coin?
We currently do not have plans for a feature like this.
Can we have a compound button to buy back MND automatically for MND staking or just an auto-compound vault?
Because the Mound Vault includes polyBUNNY and other assets that will create complexity, we do not plan on implementing this feature.
Can you also show the APR for Mound Vault along with APY?
Due to the complexity of having 3 tokens in the vault, the team will only focus on showing the APR at this time.
Is the MND token susceptible to a flash loan exploit in any potential form?
No. There is no way for MND to be minted this way; a flash loan exploit is not possible.
Can we get an updated and detailed roadmap with date estimates for Mound and all projects?
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.
Are there plans to launch new pools or other functionality in the Mound Vault?
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.
A post mentions that the Mound Vault will consist of Multiplexer, Leveraged Token, and PBSS-related fees. When are the estimated dates for these?
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.
Do you have plans to come up with a personalized investment dashboard for the MND ecosystem (BUNNY, QBT, polyBUNNY investments) which will give a more easier way to check daily?
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.
Will the MND Token only last 24 months or will it run continuously beyond that?
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.
MND will have a share of all future projects. How often do we expect new projects and coins to be added to MND? Are there any further projects you guys are looking at now?
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.
What is the future of Mound Vault regarding the ecosystem?
The Mound Vault will always be a value aggregator of the BUNNY ecosystem.
What specific projects will benefit Mound Vault in the future?
Products like the Multiplexer and leveraged tokens will benefit the Mound Vault. Stay tuned for other exciting and surprising initiatives.
What potential governance rights would be given to MND holders in the future?
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.
Are there any plans to change the Mound Vault itself? For example: History multiplier for original holders, include other assets in the vault (BTCB, BNB, BUSD, etc) and/or tokenomics.
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.
Are we going to see a Mound Pot? (Stake Mound for 7 days and the rewards will be given away to the winning stakers)
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.
Will you implement any mechanics to increase the value of Mound Vault through burning/pots/lottery?
No, there is no burn plan for MND as there will be no extra MND minted.
Are there any plans to mint more MND or will this be the total supply of MND (already distributed) that is planned?
Currently there are no plans to mint any more. If the community wants it, we will consider it in the future.
You said you would add liquidity if needed after 6 months, what exactly is this a requirement?
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.
I think adding NFT for the community would be a good idea. Can you consider an NFT project for MND holders?
NFTs are indeed very popular. We are, of course, aware of the trends and will explore more.
How many people are in the dev team, and what are your plans on evolution of the company and plans for expansion.
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.
Any marketing strategies or plans for MND?
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.