PancakeBunny: Discord Review

Bane = Bunny Discord Vets / Other Dude = Impatient Degens

Countdowns continue. We’re getting closer to fruition of the Master Plan.

This time, it seems more appropriate to do a simple FAQ session in order to catch everyone up on the most common issues of August in PancakeBunny Discord Land.

1) Wen is Mound (MND)?

We still get a steady stream of questions about how to check for the MND token and what can be done with it. The Mound Vault page still has most of the useful information for answering some of the basic questions. They updated it recently to show the “Effective Value” and the current amount of rewards accumulated in the vault.

The current price of MND is being set by individual users on the Pancakeswap liquidity pools and is not created by Mound Finance. Therefore the value you see for MND in your wallet is what a few people (liquidity is extremely low) are willing to sell it at.

A fun topic of discussion in Discord has been why people might be willing to provide liquidity for MND at the current price. Some say that they are disgruntled flash loan victims. Some say they just don’t understand what they’re doing. My personal theory, however, is that the providers are trying to use the liquidity pool to “buy MND through impermanent loss” while also gaining some fee % on the LP. In the end, if they remove their liquidity while the MND price is low, they will be left with much more MND than they started — an easy buy strategy.

If this theory is true, though, it means these providers will likely remove their liquidity once they see any significant rise in MND price or perhaps when the 1st claim date nears. If this happens, anyone who expected to buy back some cheap MND before the 1st claim date might end up disappointed since there won’t be any liquidity (at a reasonable price of course).

But we’ll see. This is just a personal theory and my theories are usually wrong when it comes to defi, so please don’t take my words to heart, FA.

2) Wen QBT-BNB end?

Thu Sep 16 2021 09:33:42 GMT+0000.

This is the semi-official time based on earlier information provided by the team. Buuuuut…who knows? There are rumblings and rumors they could continue the vault on PCB, although most likely at a much lower rate of return (2000% APY at this time). Most of the Discord discussion has been around the continuing rise of QBT (55 cents now) and what people plan to do when the platform goes live on August 24th.

You still have time to test out the Qubit platform with some pretend BNB. I believe this is what the defi millenials are calling a “safe space”. Personally I got a kick out of it by messing around with “money loops” (supply -> borrow -> supply -> borrow -> supply, etc). Of course, it’s important to know how to swim before you dive in the deep end. Keep an eye on your qScore!

Qubit gamification got me all like…

3) Is Bunny dead?

Bunny is not dead. But perhaps the moon-hunting degens that bought in after the Flash Loan are dying. There are 3.4M Bunnies locked in a steel MND vault cage, so at least we know there is a reasonable price floor. We’ll see how low it goes, but I would recommend to anyone desperately holding out for a new ATH to not hold their breath — or sell at a loss or smaller gain (NFA, but kind of FA, and so on).

The overall impression is that the team is now more focused on long-term strategies and security. This means they won’t be looking to support short-term gains and price boosts for the impatient degens. Because of this, I imagine there will be plenty of people announcing in the various SNS outlets that they are “F-ing done with Bunny.”

General Discord Community response to these announcements: “OK, see ya.”

4) Where Bunny APY? / Wen Bunny->WBNB again?

“Over the last 90 days, the team distributed about 50 million dollars that was earned and stored pre-flash attack.”

So the Bunny -> WBNB pool has been discontinued as planned in the original “Moving Forward” medium post a few months ago —something I had completely forgotten as did many others.

In its stead we have received an upgraded Bunny Maximizer Pool with some cool, but complicated mechanics. Most people only looked at the APYs in the beginning so they were shocked to see the 200% drop, but that APY should rise day-by-day.

“It’s a 30-day continually accruing pool with present and future performance fees. Over the next 30 days, the intention is that the APR increases as performance fees are collected and then used to get the pool back up and running full speed.”

In short, no more Flash Loan bonus money leads to new Maximizer vault that ramps up APY% over time. If patience is not your sort of thing (and I get that — if we were all patient people why would we be here?), then looking at other platforms in the meantime is cool too. Just make sure you announce it to everyone before you do it. As I mentioned above, we love that.

5) What is happening to pBunny?

The pBunny compensation vault has been removed. The pBunny themselves were converted to MND, which was dropped to our wallets a few weeks ago and the unclaimed rewards also should have been airdropped to your wallet as well. If you seem to be missing all of things or you have questions, the Discord server is the place to go for help and answers.

Our Final FAQ from Discord,

6) Wen next Degen Delight?

We don’t have to wait for this launch (get it?). Chef Crypto has cooked us up sumpin’ special.

Bunnyshrimps with bouncin’ beans…and rice. Price: 1 QBT a week from now.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
KJ DeFi

KJ DeFi

46 Followers

A place for quiet reflection on all my DeFi experiences.