Aera Moonwell Pilot

Now that the governance vote on Moonwell Apollo to kick off an Aera pilot has passed, we will provide regular updates going forward using this thread as a continuation of our prior proposal thread.

For our first update we would like to share that we have successfully funded the Aera Vault! We carried out the steps as described here. To repeat for clarity we:

  1. Unbridged funds from Moonriver to Ethereum mainnet (via Multichain using 0xf72Dbe617a4f24c8447178f6F11E4F399393255e)
  2. Bridged funds from Ethereum mainnet to Polygon POS (using the same wallet)
  3. Transferred funds to a multisig: 0x2132624899b2C7065f6802BF77f6C706Cfe855a4
  4. Swapped ~72k of USDC for WETH (via uniswap, this was done in order to match the initial volatility target of 15%, as voted on by the DAO)
  5. Deposited into the Aera Vault via the Moonwell Multisig. The Vault is located at 0x3c14801DC6402E0560D69083F2b238b4C4b4DAfe

Next steps

Now that the vault is funded we will now be submitting weights against the vault on a daily basis. In the next couple of days we will be releasing a dashboard for the community to monitor and see key statistics on the vault.
Here is a sneak peek of the dashboard from the funds that were just deposited into the vault:

We will also be posting regular updates in the forums to keep the community up to speed!


We are excited to launch the Aera App so that the Moonwell community can actively monitor the state of the Vault and underlying funds.

The Aera App can be viewed at And of particular interest to Moonwell is the following vault, which has been created for the Moonwell DAO:

Note that since we just instantiated this vault some of the charts may look empty, as days progress these charts will accumulate more data.

Using the App

At the top you can see the total value in the vault in dollar terms and the amount of WETH and USDC held in the vault over time.

We want to give the community a sense of how the vault is performing relative to alternatives, specifically a vault of all WETH and a vault of all USDC. We visualize the performance relative to these vaults below:

We also want to show the realized volatility over time so you can see how it compares to the target set by the DAO (15%):

Next you will see the ongoing execution costs that the vault experiences as a result of maintaining the portfolio weights, specifically the arbitrage loss/gain from keeping the vault in line with the weights Gauntlet is setting against the vault on a daily basis. Note that lower is better, but that Arbitrage is important to the ongoing functioning of the vault.

Lastly we include a chart of the vault weights over time and all the transactions that have been executed against the vault. The most common transaction you will see here is updateWeightsGradually, which is simply Gauntlet’s daily weight update executed in order to target the 15% volatility.

We hope you find the app useful, and do let us know if you have any feedback on what we can do to improve it!