# Monthly Governance Calls

**URL:** <https://forum.moonwell.fi/t/monthly-governance-calls/788>\
**Category:** Updates\
**Tags:** boardroom\
**Created:** [February 12, 2024, 11:05pm UTC](https://forum.moonwell.fi/t/monthly-governance-calls/788 "2024-02-12T23:05:54Z")\
**Posts on this page:** 1\
**Showing post:** 27

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**Author:** ![Boardroom](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/boardroom/32/1282_2.png) [@Boardroom](https://forum.moonwell.fi/u/Boardroom)\
**Post date:** [April 30, 2026, 7:54pm UTC](https://forum.moonwell.fi/t/monthly-governance-calls/788/27 "2026-04-30T19:54:12Z")

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# Monthly Governance Call – April 2026 Recap

🔗[Call Recording](https://www.youtube.com/watch?v=WBzDxNdVY_A)

### Welcome & House-Keeping

- **Moderator** : Alex (Boardroom)
- **Speakers** : Luke & Darren/0xMims (Lunar Labs), Chris (Anthias), and community Q&A
- **Quick overview** :
  - The monthly report for April is live on the governance forum. Joel’s data dashboard continues to power the governance metrics section of the report.
  - A good number of questions were submitted via the form this month and were addressed in a dedicated Q&A section at the end of the call.

### Moonwell Core Contributor Updates (Luke @ Lunar Labs)

- **Kelp DAO / rsETH exploit; Moonwell unaffected**

- **Ethereum Mainnet launch**

- **Bad debt remediation**

- **New market — Centrifuge deSPXA (tokenized S&P 500)**

- **Mamo / Base app campaign wrap-up**

### Governance & Community Proposals (Darren/0xMims @ Lunar Labs)

Recent governance activity has centered on audit-driven changes, liquidity incentives, and bad debt repayment:

- **MIP-B58 (MFAM onboarding + cbETH restitution round 1)** and **MIP-B59 (Venice token listing)** — both covered in last month’s recap — are complete.
- **MIP-X51** : Used ~950,000 VIRTUAL from market reserves to repay VIRTUAL bad debt. VIRTUAL bad debt has gone from ~$1.3M (at the time of the remediation proposal) to ~$800,000 remaining — roughly 45% cleared in one proposal.
- Delegates are asked to comment on the rETH Mainnet market proposal currently posted on the forum.

### Risk & Parameter Updates (Chris @ Anthias)

> **Base Collateral Factor Reductions:**
> 
> - LBTC: decreased from 82% to 80%
> - tBTC: decreased from 81% to 80%
> 
> **Base Interest Rate Curve Updates:**
> 
> - USDC and EURC: multipliers decreased, reducing borrow rate at kink from ~6% to ~5%
> 
> **OP Mainnet Cap Changes:**
> 
> - weETH: both supply and borrow caps decreased due to very low onchain DEX liquidity. Note: EtherFi has since launched on OP Mainnet and DEX liquidity has improved, caps will be revisited.

**April risk recommendations (posted to forum, governance proposal forthcoming):**

The primary focus of the April proposal is stopping interest accrual on bad debt in markets where over 90% of total borrows is toxic. Three Base markets meet this threshold: VIRTUAL, cbETH, and cbXRP.

- Bad debt in these three markets is currently accruing ~$15,000/month in interest. The goal is to stop the bleeding.
- Approach: flatten the interest rate curve and increase the reserve factor in these markets. Existing (non-bad-debt) borrowers — a very small population — will lock in a favorable ~1% borrow rate. Any interest accruing on bad debt will be redirected back to protocol reserves rather than compounding the liability.
- Additional bad debt repaid via MIP-X51

### Community Q&A Highlights

- **Coinbase / Base tailwinds and the Clarity Act**

- **stkWELL/USDC and MAMO/USDC isolated market liquidity**

- **Mamo dark mode**

- **OEV liquidation auctions**

- **RWAs and Base incentives**

- **Aerodrome/Velodrome merger (July) & impact on AERO and VELO markets**

### Action Items & Dates

1. Share feedback on the Ethereum Mainnet initial market list. Should Moonwell launch conservatively (ETH, cbBTC, USDC, USDT) or include Lido stETH?
2. Review and comment on the rETH Mainnet market proposal on the forum (delegates especially).
3. Watch for the second cbETH restitution governance proposal, targeted for May.
4. Submit questions for the next call ( **Thursday, May 28th** ). The Google Form will be posted on X and the forums toward the end of May.

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_[View the full topic](https://forum.moonwell.fi/t/monthly-governance-calls/788)._