MOR-BUSD LP Vault

New member here! Yesterday, I staked some ApeSwap MOR BUSD LP and started minting MOR to buy more LP and restaked, etc. to increase total returns. The App lists the vault returns of this LP at 45.6% with a 25% fee on borrowed MOR.

I haven’t seen a change in my vault value so far.

Am I looking too soon? How is the listed 45.6% yield paid?

I appreciate any input and I’m excited about using growthdefi.

Thanks!

Welcome!

The rewards will be paid in the same collateral that you have provided. The easiest way to monitor yield is to check down the very bottom of the MOR vault under Collateral; the quantity posted there will increase over time.

You will also see the MOR debt value increase over time, that will be the 25% fee.

Be patient, it has non-uniform update times - the protocol will only trigger an update once there is enough yield to warrant the gas costs or if a deposit is made to the vault above a certain threshold.

Thank you for the response! I’ll keep watching the Collateral. I became concerned when I saw the Debt increase but the Collateral value remained unchanged.

Side question: Any idea what is happening with the ApeSwap pair information page?
ApeSwap Info It doesn’t document transactions after 11/16/21. I can see from the Contract info on bscScan that it is still active. Contract Address 0x33526ed690200663eaabf28e1d8621e58898c5fd | BscScan

Thanks again!

Yes, the debt will accrue in real-time. The yield will essentially be batched.

No idea what is happening with Apeswap. Analytics pages are often finicky. You may have better luck in the Apeswap telegram or their other socials if that information is of particular importance to you.

If you are looking for stable coin yields, you might be interested in staking on Wheat. It won’t be leveraged, though the returns make up for it without having to consider liquidation. Another easy strat is to borrow against your MOR-BUSD in MOR, then stake that MOR on Wheat.

Current Yields:

Chain Name APY
BSC MOR 76.69%
MOR-BUSD 75.42%
Avalanche MOR 48.35%

Both are good ideas, thank you.

Aren’t the risks of liquidation very low when using leveraged stable coins? The team here seems to be a good job retaining its valuation.

What is the realistic range of value for MOR? Is the worst case 10% drop? Please tell me if I’m doing this wrong, but wouldn’t the LP be unlikely to drop more than 5%? One can adjust leverage appropriately so that their investment can weather such a fluctuation.

The theoretical range of MOR is between $0.99 and $1.001, though being a new stablecoin it has experienced some volatility on BSC mostly caused by overwhelming demand to leverage up on stablecoin positions.

You can easily look up the MOR price fluctuations, the peg largely hinges on the strength of the PSM. Depegs are temporary, but they do happen. As MOR is overcollateralised it will always return to peg.

The team are rock solid and have implemented a number of changes to improve this which have been successful, especially with the latest launch on Avalanche, by winding back and/or removing leveraged stable pairs for the time being.

As an answer to the earlier query in regards to Apeswap Analytics, see this retweet from the Growth Defi account.

Hope that helps, you seem to have a good idea of what you are doing. It truly is a brilliant project.