As a delegate, my goal is to make Moonwell’s protocol data more accessible and actionable for both the team and the wider community, while leveraging analytics to inform and enhance evidence-based decision-making.
Background and Qualifications
At the Celo Foundation, I collaborated with the blockchain development team to design and implement on-chain engagement analytics, improving how protocol adoption and user activity were measured.
In addition to my work at Celo, I have developed data-driven analytics and dashboards for protocols like Seamless, Spark, CoWSwap, Helium, FrenPet, and Hivemapper.
My analyses for these projects have received notable recognition and endorsements from the respective teams, similar to the positive reception my recent analytical work on Moonwell received from the community. For more examples of my analytics and dashboards, you can visit my X profile.
How I’d Like to Contribute
Create an Official Moonwell Account on Dune:
Propose and help set up an official Moonwell Dune Analytics account as a central source of dashboards and protocol insights.
Improve On-chain Data Accessibility:
Work with the Labs team to decode Moonwell’s contracts and markets on Dune, making data more accessible and customizable for the community.
Dashboard Development & Maintenance:
Build and maintain comprehensive, up-to-date dashboards that cover new product launches, markets, campaigns, and protocol milestones.
Regular, Public Reporting:
Prepare and share monthly and quarterly summaries of protocol analytics and milestones in clear written formats (e.g., X thread, X article or Blog post).
If you have feedback or want to discuss these ideas further, feel free to reach out on X @joel_obafemi or on Telegram @Joel_obafemi
Voted YES. The point of OEV is that liquidators pay for early access to a fresh price. Right now, a small liquidation can pay once and leave that price open for other liquidations to use for free, so fees we should be collecting slip through. This fix ties the fresh price to the one liquidation that paid for it, which is how it should have worked from the start. The SVR to standard feed switch on Base reads from the same aggregator, so prices don’t move.
MIP-X71: Anthias Labs Risk Parameter Recommendations and Pause Guardian Migration
Voted YES. We still have bad debt on the books, so I’d rather keep trimming collateral factors on the riskier assets than wait for the next drawdown to force it. The biggest cuts are WELL (45% to 35%) and wrsETH on OP (30% to 20%), and both make sense to me given how thin liquidity is there. The MORPHO change is what I like most. Most of that debt is already insolvent, so charging a variable rate on it just grows a number nobody is going to repay. A flat 1% rate with 99% going to reserves stops that and puts what does accrue back into the protocol. On the guardian side, Ethereum already runs on F-ETH-SEC, so moving Base and OP Mainnet over, along with the MetaMorpho vaults still sitting on the deprecated multisig, puts all our emergency controls under one 2-of-4 Safe. That’s cleaner and easier to hold accountable.
Voted YES. I’m in support of this one. At the moment, anyone can send tokens straight into a market and change its cash balance without going through the normal supply checks. I don’t think that should be possible, because it can mess with the exchange rate and let someone get around supply caps. Donation attacks like this have been a known weak spot for Compound-style markets for a while, so I’m glad we’re closing it across Ethereum, Base and OP Mainnet at once. I also like that governance can only sweep the extra tokens, not the cash backing the market.
MIP-X74: Align Base and Optimism ETH Derivative Oracles with the WETH OEV Feed
Voted YES. I agree with this change. For about 10 seconds after each price update, WETH and the ETH derivatives (cbETH, wstETH, rETH, weETH, wrsETH) are being priced off two different ETH prices. If ETH is falling, a liquidator can take more than the 10% bonus from someone borrowing WETH against one of these assets. From my read, a 2% ETH drop in that window gives the liquidator roughly 2.2% extra, and the borrower pays for it. That doesn’t feel fair to borrowers. Having both sides read the same ETH price fixes it cleanly. The only cost I see is some liquidations waiting up to 10 seconds, which I think is a fair trade. It also builds on MIP-X72, so it makes sense to pass this right after.
Voted YES. I’m in support of this. It continues the wind-down we started last round, and I’d rather keep stepping these collateral factors down than leave room for the next price drop. WELL goes from 35% to 20%, MORPHO from 40% to 30% and AERO from 58% to 55% on Base. On OP Mainnet, VELO and wrsETH go to 0% and OP drops to 50%. The oracle changes make sense to me too. Chainlink is retiring the MAMO and VELO feeds, and I’d much rather we fix the price now than have the protocol keep reading a stale answer after November 11. Since both assets are 0% collateral, the fixed price only affects borrowers.
MIP-X76: Automated Liquidity Incentive Proposal
Voted YES. I’m happy with this month’s distribution. On Base, all 3.53M WELL for the markets goes to suppliers, with nothing on the borrow side, which I think is the right focus while we rebuild supplier confidence. The changes are small and point the right way. USDC gets 4% more WELL, and it’s where suppliers need it most, with borrows ($7.53M) running above supply ($7.44M). wstETH and cbBTC get a bit less, which fits how little they need it. Most other Core markets stay at zero, so we’re not spending WELL where it isn’t doing anything.