Bad Debt & Reserves
The table below summarizes the current status of bad debt and reserves in Moonwell’s core markets on Base.
| Market | Price | Bad Debt (tokens) | Bad Debt (USD) | Current Reserves (tokens) | Current Reserves (USD) |
|---|---|---|---|---|---|
| cbETH | 1876.943 | 673.9971713 | $ 1,482,793.78 | 1.6533 | $ 3,103.15 |
| cbXRP | 1.109 | 757979.2185 | $ 836,573.97 | 10839.7601 | $ 12,021.29 |
| VIRTUAL | 0.564 | 1258211.863 | $ 718,759.53 | 17992.5799 | $ 10,147.82 |
| WETH | 1656.26 | 167.7524818 | $ 277,910.76 | 6.2216 | $ 10,304.59 |
| MORPHO | 1.723 | 104939.0648 | $ 174,361.10 | 79.5928 | $ 137.14 |
| EURC | 1.141 | 143372.0162 | $ 163,645.10 | 309.5414 | $ 353.19 |
| USDC | 1 | 163361.2817 | $ 163,310.63 | 8216.397 | $ 8,216.40 |
| wstETH | 2049.419 | 46.52732221 | $ 95,352.90 | 0.66 | $ 1,352.62 |
| AERO | 0.522 | 168596.8339 | $ 86,718.83 | 9744.5068 | $ 5,086.63 |
| cbBTC | 62393.375 | 0.0400064732 | $ 2,497.41 | 0.1122 | $ 7,000.54 |
| DAI | 1 | 1537.383202 | $ 1,536.99 | 2017.9424 | $ 2,017.94 |
| USDS | 1 | 1070.181943 | $ 1,069.84 | 183.9912 | $ 183.99 |
| tBTC | 62530.121 | 0.01212325 | $ 758.74 | 0.0878 | $ 5,490.14 |
| WELL | 0.004 | 23667.33563 | $ 84.12 | 2888756.146 | $ 11,555.02 |
| weETH | 1817.637 | 0.00331833 | $ 6.03 | 7.0516 | $ 12,817.25 |
| rETH | 1931.073 | 0.0009361362 | $ 1.81 | 4.6049 | $ 8,892.40 |
| LBTC | 62665.576 | 0.0000155484 | $ 0.98 | 0.23 | $ 14,413.08 |
| wrsETH | 1779.381 | 0.0004681999 | $ 0.84 | 1.1745 | $ 2,089.88 |
| USDbC | 1 | 0.0335988624 | $ 0.03 | 3.6333 | $ 3.63 |
| VVV | 13.489 | 0 | $ - | 1273.492 | $ 17,178.13 |
| TOTAL | $ 4,005,383.38 | $ 132,364.84 |
The following table describes how reserves have changed over the past month (5/16/6 - 6/16/26).
| Market | Current Price | Start Reserves (tokens) | End Reserves (tokens) | Delta (tokens) | Delta (USD @ current price) |
|---|---|---|---|---|---|
| VVV | $13.489 | 26.9944 | 1,273.3751 | +1,246.3807 | $ 16,812.43 |
| WETH | $1,656.26 | 74.3105 | 80.3451 | +6.0346 | $ 9,994.87 |
| cbXRP | $1.109 | 2,677.1541 | 10,288.582 | +7,611.4279 | $ 8,441.07 |
| USDC | $1 | 68,053.79 | 76,395.3572 | +8,341.5672 | $ 8,341.57 |
| AERO | $0.522 | 302,450.7684 | 313,940.0028 | +11,489.2344 | $ 5,997.38 |
| cbBTC | $62,393.375 | 1.7779 | 1.8347 | +0.0568 | $ 3,543.94 |
| wstETH | $2,049.419 | 35.6369 | 36.3011 | +0.6642 | $ 1,361.22 |
| LBTC | $62,665.576 | 0.2117 | 0.23 | +0.0183 | $ 1,146.78 |
| cbETH | $1,876.943 | 0.9386 | 1.5326 | +0.594 | $ 1,114.90 |
| rETH | $1,931.073 | 4.1845 | 4.6049 | +0.4204 | $ 811.82 |
| VIRTUAL | $0.564 | 16,377.6386 | 17,756.781 | +1,379.1424 | $ 777.84 |
| EURC | $1.141 | 25,634.547 | 26,036.9048 | +402.3578 | $ 459.09 |
| MORPHO | $1.723 | 14,757.8751 | 14,842.0792 | +84.2041 | $ 145.08 |
| WELL | $0.004 | 2,854,074.1528 | 2,884,913.3774 | +30,839.2246 | $ 123.36 |
| DAI | $1 | 1,951.7768 | 2,012.7854 | +61.0086 | $ 61.01 |
| USDS | $1 | 163.4957 | 181.3065 | +17.8108 | $ 17.81 |
| MAMO | $0.008 | 27,585.0156 | 29,441.1699 | +1,856.1543 | $ 14.85 |
| weETH | $1,817.637 | 7.0507 | 7.0516 | +0.0009 | $ 1.64 |
| USDbC | $1 | 3.1925 | 3.5415 | +0.349 | $ 0.35 |
| wrsETH | $1,779.381 | 1.1744 | 1.1745 | +0.0001 | $ 0.18 |
| tBTC | $62,530.121 | 0.0878 | 0.0878 | 0 | $ - |
| TOTAL | $ 59,167.19 |
Bad Debt Repayment
We recommend that the protocol use its reserves to repay the bad debt on behalf of the following addresses. These addresses are currently supplying no collateral, which means their debt positions can be safely repaid without risk to the protocol. This action will help recapitalize the affected markets. The total bad debt repayment for this proposal amounts to approximately $35,000.
| Address | Repayment Amount | Repayment Token | Repayment USD |
|---|---|---|---|
| 0x42ecd332d47c91cbc83b39bd7f53cebe5e9734bb | 10839 | cbXRP | $ 12,020.45 |
| 0x42d3617495205563f85f85671cd8f9bcc9bca7e4 | 6.22 | WETH | $ 10,301.94 |
| 0xf61d6742eea5e1f29cb4b96cf7108f32424d562c | 8216.397 | USDC | $ 8,216.40 |
| 0x42ecd332d47c91cbc83b39bd7f53cebe5e9734bb | 9744 | AERO | $ 5,086.37 |
cbETH Remediation
We recommend that the following reserves be withdrawn from the markets below, swapped into WETH, and set aside for remediating users impacted by the cbETH incident. These reserves represent approximately $35,000 or ~21 ETH.
| Market | Amount to Withdraw | USD Equivalent |
|---|---|---|
| LBTC | 0.23 | $ 14,413.08 |
| rETH | 4 | $ 7,724.29 |
| weETH | 7 | $ 12,723.46 |