MIP-B10 - Onboard rETH as collateral on Base deployment

rETH market is now activated on Moonwell Base deployment.

Reward rates for rETH have been updated to help bootstrap liquidity for the market.

rETH Reward stream Emissions per sec (before) Emissions per sec (after)
WELL Supply-side 0 0.05705557463
WELL Borrow-side 0 0
USDC Supply-side 0 0
USDC Borrow-side 0 0
Total supply (%of supply cap) 0% 25% 50% 75% 100%
rETH Supply WELL APR ∞% 18.34% 9.17% 6.11% 4.59%

Rewards were shifted from ETH market towards rETH.

  • ETH market utilization is standing at healthy levels from a risk perspective
  • Reducing rewards by 0.057 WELL/second for ETH is less detrimental relative to other markets
WELL allocation cbETH DAI USDbC USDC ETH wstETH rETH
Supply-side 20.00% 20.00% 0.00% 20.00% 38.00% → 37.00% 2.00% 0.00% → 1.00%
Borrow-side 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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