Monthly Governance Call – August 2025 Recap
Welcome & House-Keeping
- Moderator: Alex (Boardroom)
- Speakers: Luke & 0xMims (Lunar Labs), Chris (Anthias), and new delegates Joel and Chidi
- Quick overview: August was governance-light, but there were a few high-impact proposals and discussions that advanced through governance (namely, the Base Safety Module Remediation).
Moonwell Core Contributor Updates (Luke @ Lunar Labs)
- Product updates; Moonwell and Mamo overview, mission, features overview, Virtual Accounts, and Moonwell Card updates. In the next 2-3 months, there should be a Moonwell V2 Card that’s live, enabling developer rev share/cashback. He shared a call-to-action for users to take to the forums and state their preferences on what assets they’d like cashback to support. The card will also support different card designs; he called for digital artists to send their Moonwell or Mamo-related designs. He also mentioned the possibility of Nouns DAO cards as a part of a Moonwell x Nouns DAO initiative being led by 0xMims.
- MIP-X28 and Base Safety Module Remediation; In August, the Base Safety Module experienced a minor bug that led to a small number of users claiming MIP-X28’s full reward budget, resulting in a loss of ~$285K WELL. Moonwell contributors proposed making affected users whole for the rewards they were owed before the bug was triggered. MIP-B45: Remediation of Base Safety Module Rewards (Phase 1) was the first of two planned proposals. It sought to reimburse stkWELL stakers on Base who lost rewards by creating a Merkl airdrop campaign to fully refund affected users for their pre-bug rewards (via Angle Protocol), setting Base Safety Module emissions to zero going forward, and transitioning reward distribution to Merkl claims. Luke updated the community on Moonwell’s security practices, including learning from past industry lessons such as Compound in 2021. He also discussed next steps for the community, including potentially requesting a grant of $285K from the Moonwell Foundation.
Upcoming Proposals & Governance Updates (0xMims @ Lunar Labs)
- Code of Conduct Updates; on the final day of July, 0xMims created a forum post outlining a proposal seeking to update two aspects of the DAO’s operations: (1) adding enforceable punitive measures to the Code of Conduct; and (2) requiring transparent conflict of interest (COI) disclosures for all voting delegates. On the call, he mentioned that it will be going up for a Snapshot vote in the near future after an edit.
- Base Safety Module Remediation; he urged anyone to message him if they have questions about the proposal.
- Super Delegates; Darren mentioned that we could increase the specificity of the Super Delegate duties and he thanked the new delegates who recently created pitches.
- OP Mainnet Milestone; Moonwell is being awarded with 50,000 OP from the Optimism Foundation due to a growth milestone being hit.
Risk & Parameter Updates (Chris @ Anthias)
- Base: Anthias recommended an increase in cbXRP’s Supply Cap and Borrow Cap (2M to 3M and 500K to 1.6M, respectively) and a decrease in cbXRP’s Reserve Factor (30% to 20%). They also included changes to the IR parameters of USDC and cbXRP
- Optimism: The main notable change on OP Mainnet included an update to DAI’s and USDT0’s IR parameters (an increase in both Multipliers).
- Moonbeam: There were no parameter recommendations for Moonbeam.
- Moonriver: There were no parameter recommendations for Moonriver.
Boardroom Delegation & Super Delegate Expansion (Alex, Jor-El, & Chidi)
- 2.2M/3.4M WELL available for delegation; five specialty tracks: Asset Listing, Security Council, Data & Analytics, Treasury, Third-Party Opportunities & Research.
- Three Super Delegate slots still open; no formal application. Delegates demonstrating sustained value will be considered.
- New Delegates Being Considered; @Jor-el introduced himself as a candidate for the Data & Analytics role and @Chidi expressed interest in the Third Party Opportunities & Research role.
Action Items & Dates
- Upcoming Code of Conduct forum post update + Snapshot.
- CTAs from Luke: Moonwell Card designs, assets supported through cashback, and next steps for the Base Safety Module remediation
- Next Governance Call Thursday, September 25th 2025.