This proposal aims to add rETH to the Moonwell on Ethereum network.
Motivation
As Moonwell prepares to launch on mainnet, rETH is already supported on both Base and Optimism and has demonstrated strong performance as the industry’s only fully trustless & permissionless LST. Rocket Pool ETH (rETH) has long maintained a high level of decentralization and recently completed its Saturn 1 upgrade. The move to 4 ETH-per-validator nodes improves capital efficiency for rETH. The upcoming Saturn 2 upgrade is expected to enable proactive rETH unstaking and further improve yield performance, which should support broader adoption. Adding rETH to the Moonwell market can help increase ETH borrowing activity.
Specification
We recommend that the rETH price oracle follow the existing Base and OP deployments by using the LST rate rather than the market rate. The remaining risk parameters and final configuration should be proposed and finalized by Moonwell’s risk service provider.
We welcome questions and feedback from the Moonwell team and community regarding rETH. Moonwell has consistently supported rETH, and the Rocket Pool community and team are ready to support Moonwell’s mainnet launch.
Hey @signalxu, thanks for initiating the discussion to add rETH for the upcoming Moonwell deployment on Ethereum Mainnet.
I noticed you’re new to the forum, so it would be great if you could introduce yourself and explain your role within Rocket Pool.
For asset listings on Moonwell, there’s a standard process that needs to be followed through the Moonwell Asset Listing Framework (MALF), which outlines the required information and parameters. This framework provides a structured approach to assess assets across key dimensions such as security, liquidity, oracle reliability, and other relevant risk factors.
To move this forward, please complete the full MALF template, as the current information isn’t enough yet to properly evaluate the asset.
While rETH is already integrated into Moonwell’s Base and Optimism deployments, a new MALF will be necessary for when Moonwell launches on Ethereum mainnet.
For reference, here are some examples of assets that have gone through this process:
Thanks for the reply. Since there has already been a detailed analysis of rETH previously, I’d like to focus on providing an update here with our latest data and mainnet status.
We hope the protocol can use the contract rate for the oracle instead of the Chainlink market price feed. Regarding rETH unstaking, support for active unstaking by stakers will be included in the next upgrade, which will significantly enhance peg stability and expand use cases. Additionally, support high LTV use cases for rETH/ETH if possible.
