Onboarding the Apollo Community to Artemis (community proposal)

GM Everyone :sun_behind_small_cloud:

First of all, congratulations to everyone who contributed to the smooth and successful launch on base :large_blue_circle:. It was a pleasure to follow the launch process :last_quarter_moon_with_face::raised_hands: :first_quarter_moon_with_face:


Following the recent Multichain incident, the Apollo community discussed possible solutions and further procedures. As everyone knows these are not easy times for the Moonriver ecosystem. Potential solutions take time and depend on many different stakeholders. This is very unfortunate for the Apollo community, because before the first signs of a potential problem with Multichain appeared, Apollo was by far the largest Defi protocol in the Kusama ecosystem.


The Apollo community would like to offer the following proposal to the Artemis community. It consists in rewarding the most loyal Apollo members and turning them into Artemis community members and WELL tokenholders. Many Web3 projects struggle to mobilize their Tokenholders for Governance, voter participation is very low and the quorum is only reached at the last moment. Unfortunately It’s no different with Moonwell. That’s why the Apollo community thinks the merger of Apollo and Artemis users is a win-win situation.


I can imagine that many shareholders have a say in the distribution of the tokens and that changes can only be implemented with great difficulty. That’s why the Apollo community studied the Transparency Report closely and found a suitable solution. We have found the following position in the Tokenomics, it is a refund from the public sale event. 1.05% total supply.

Note: this includes adjustments that occurred after the public sale completion, where a total of $1,370,870.87 [1.05%] (equivalent to 52,725,802.60 WELL) were refunded after a public audit revealed ineligible transactions.

Since this refund was not planned and every stakeholder and shareholder expected these tokens to be put into circulation, this has no negative impact if these tokens are subsequently distributed. From our point of view it is a happy coincidence, there will be no changes to the original token distribution and it is a good incentive for the loyal Apollo community to be part of the Artemis world of Moonwell


The Apollo Community suggests the following distribution:

1.05% equivalent to 52,725,802.6 WELL Tokens are Distributed to $Mfam safety module stakers ( stkMFAM Holders ) with a release schedule of 12months.

Eligibility criteria:

    1. Hold stkMFAM at Multichain incident MIP
    1. Hold at least the same amount of stkMFAM at the time of this proposal # [4898287]

The WELL tokens will be distributed evenly among the stkMFAM holders with the balance at the time of MIP60

In this way it can be ensured that nobody creates an advantage for themselves.
The release schedule should also emphasize once again that this proposal is intended to involve valuable community members to Artemis. More criteria can be added as well.


This proposal is open for discussion with the Artemis community. After the discussion period (3-4 days), there will be a snapshot voting for WELL token holders with 2 options YES / NO. And the last step will be an on-chain voting with the WELL distribution to the Claims contract. As far as I know, this step is necessary when transferring out of the treasury.

There is no timeline for distribution to the Apollo community yet, nor is it the goal to use up unnecessary resources, so our suggestion is to use the resources that are available. For example the already developed 12 month release schedule from the public sale as well as the existing claims.moonwell website.


  • Many Dotsama projects are having a difficult time and with this proposal we can motivate other projects to involve the “canary” community more. As mentioned at the beginning, win-win situation.

  • There was no airdrop for Apollo users when Artemis was launched, but Apollo users were whitelisted for public sale. Moonwell decided against an airdrop for understandable reasons (not sustainable), but after 18 months one can assume loyal community members

  • The Apollo community is very open to offering the same for the Artemis community at a later date and making every Artemis member an Apollo member as well.

thanks for reading, your Apollo community

1 suggestion. for criteria #2.

Instead of “Hold at least the same amount of stkMFAM at the time of this proposal # [4898287]”

Will it be fairer if we take the lower number of stkMFAM at the time of Multichain incident and time of this proposal? So a user who unstaked 1 stkMFAM out of his 1m stkMFAM will not be disqualified.
Just my 2 cents.

How much price pressure will an airdrop with a 12 month unlock have? don’t you think that such an airdrop of about 450 k dollars will kill the project at its current cost of 7 kk. As you said Apollo users were whitelisted for public sale, it follows that everyone interested in the Artemis community is already in it. Coins are sold on many exchanges , I see no problem buying them and participating in the development of Artemis

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Good Question @smarty

Your concern is understandable but I can reassure you. In my opinion, such an increase in the circulating supply will have little to no impact, also because Investor & Team tokens are currently being unlocked. Please check Transparency Report

The opposite will happen :wink: and i will tell you why

With this proposal, the number of Well token holders will increase by approximately 1150, which is a 40% increase (stkWELL). You can imagine that this alone is a great added value.

More token holders means more engagement on social media, governance and protocol users. You can see for yourself that there is currently too little engagement in government discussions, as this example shows. This is currently a big topic, how to integrate community members into government decisions. It is therefore obvious that one should integrate community members who are so close to the protocol for a reasonable amount in my opinion, especially if you consider the circumstances that these tokens would be in circulation anyway (Refund Public Sale). Projects that hope to form a community with an airdrop, especially at this time, have to give up almost 10x as much of their token and afterwards it is not at all certain whether someone will use their protocol or participate in the government of the protocol. This danger is zero with our proposal, Apollo users are the loyal Moonwellians :last_quarter_moon_with_face: :handshake: :first_quarter_moon_with_face:

As you can see, the Apollo community has already contributed more than the Artemis community with this proposal. Shortly after the Multichain Incident we formed a new community together with Moonriver members which is currently growing by 20-30 members per week. You are very welcome Telegram: Contact @MoonriverMoonwell

It is foreseeable that some of the Apollo users will have to jump off with a heavy heart at some point, because there is no solution for the Moonriver ecosystem in the near future. Problems are mentioned here. So it’s a win-win situation to tie the most loyal Moonwellians to Artemis.

If you’re only worried about the price of Well i can hopefully reassure you, those who are still Apollo users and Mfam holders are exactly the people you want in a community, we’ve been through a lot. And we will do everything we can to make Moonwell what it once was and even bigger in the future :last_quarter_moon_with_face: :rocket: :first_quarter_moon_with_face:

You mentioned about the Public Sale

I don’t want to go into detail but I’m pretty sure that 95% of all WEB3 projects would be very happy about such a public sale at the moment :wink: this confirms once again the commitment of the Apollo community.

thanks for your question, I hope I was able to answer the questions and give you a little insight :last_quarter_moon_with_face: :vulcan_salute: :first_quarter_moon_with_face:

I only see beautiful stories, in reality everything will be different .Free airdrop will put a lot of pressure on the price and scare away potential investors

GM @smarty

I see I haven’t really been able to convince you yet :confused:

A counter question why do you think like that?

And what do you think would attract investors ? Only Price Action ? :face_with_raised_eyebrow:

In our opinion, long-term activity and engagement with the protocol brings much more value than a short period of volatile price action. Members who supply their assets, go long or short with a trading strategy, borrow stables to participate in an Ico or mint an NFT, exactly these things are what make a protocol valuable and attract new users who become investors. As already mentioned, these things are no longer possible on Apollo due to the challenging times of Moonriver.

There are many more positive aspects and these far outweigh the negative aspects you mentioned.

We all have the same goal to grow with Moonwell and make it the largest lending protocol. Let’s work together :last_quarter_moon_with_face: :handshake: :first_quarter_moon_with_face:

you are confusing investors with traders. I will tell you a secret - investors come just for money. Improve the Moonwell Apollo protocol with your activity, suggest how to improve the situation. You suggest making an airdrop - because you are having difficult times. Artemis also survived the Nomad hack and the ico price drop many times. This did not stop people from supporting the project. Why are you like everyone else dont want to buy tokens from the exchange and support Artemis community?


Thank you for your reply @smarty but i won’t go into each of your points, especially what i buy on an exchange, sorry.

You can’t compare the Nomad hack to the Multibridge incident. After less than 2 weeks, various solutions were ready for a new bridge partner for Moonwell / Moonbeam. And unfortunately that is not the case for the Moonriver ecosystem as a comment by Majin describes here.

As mentioned several times, this proposal has no impact on price action at all, but has a major impact on the community. We have to grow together as best as we can, simply to say the Apollo community has difficult times is of no use. Going forward, protocol changes will be made on Apollo first to prevent potential risks on Artemis. Apollo and Artemis are complementary to each other. So it should also be of interest as an Artemis member that the Apollo community shares the same interests.

And as I also mentioned, the Artemis community is also entitled to the same proposal

I think it’s a bit of a shame that the only point of criticism is possible price volatility and I don’t want to go into it any further. That doesn’t share Moonwell’s vision at all. Open Finance for everyone :last_quarter_moon_with_face: :first_quarter_moon_with_face:

Open finance - but not free. I am sure that the goal of Moonwell is to make a profit for investors . Everyone who participated in the ICO or bought tokens from the exchange made his choice and is now reaping the rewards. Let’s end this meaningless conversation, I think soon the vote will put everything in its place

The vision is to make finance safer, more decentralized and more open to everyone. Each new member brings us closer to this goal.

not every defi user is as obsessed with price as you are, we are here to make a change in the financial system.

I strongly oppose this proposal, because Moonwell Artemis was not originally intended to be a backstop in this manner according to tokenomics released during sale. I think this would be an inappropriate use of governance and will materially reduce my participation in the project.

@FiatAgain mentions that some defi users may not be obsessed with price. Assuming that is true, those same users you are speaking on behalf of are able to currently acquire Well on several exchanges (below TGE price). What is stopping anyone from joining the Well community right now? A lack of capital? If available capital is the only hinderance, what will stop airdropped wallets from selling early?

Currently, Moonwell has expanded to the Base ecosystem and is the leading non-dex dapp by TVL, becoming top 5 in under 1 week of being live. If the goal is to onboard new members, there are 140 Million coinbase users that can be onboarded. https://twitter.com/cryptorank_io/status/1691773351369265417

It would make more sense for Moonwell to allocate these tokens to an educational campaign in coordination with Coinbase similar to their acquired Earn product where new coinbase defi/wallet users can earn well by supply/lending for the first time!

Additionally, reserving these tokens for builders can be another high impact strategy. Developers in the Apollo community can build new products on top of or integrate with Moonwell as a money lego and earn a percentage of tokens.

Furthermore, I would love to see RWA built on top of Moonwell, and have been exploring a few ideas myself ie: Moonwell Mortgages. I genuinely think it would be a better use of proposed airdrop tokens for Moonwell to fund a mortgage and build/onboard users interested in the intersection of DeFi and RWA. Although AAVE didn’t explore this further and pivoted to Social products with Lens, I think there could be value-add opportunities if executed correctly. I’m willing to assist in this if there’s interest if this proposal doesn’t pass. Maker, Aave, Robert Leshner’s new project have all explored RWAs. DeFi Meets Real Estate as Aave Readies Crypto Mortgages - Decrypt

I think is critical Moonwell governance should be forward looking and focused on value-add. Governance proposals should also be realistic and gauge the current sentiment and reality of airdrops.

I’m in many defi communities & participated in many airdrops dating back to 2017 with Earn .com campaigns, Dfinity, all the way until this week with Sei airdrop being the most recent.

The attitude and behaviors of airdrops have morphed dramatically over the past 6 years. The vast majority of market participants see airdrops as free helicopter money. This now includes targeted airdrops and is especially true during bear markets, much less to wallet that have experienced losses.

Perhaps a price-based, milestone-based, btc-correlated or dynamic airdrop could be plausible. But crypto is not charity, risks and losses are not socialized unless encoded in the protocol. It will be a shame if this goes through Moonwell governance. @FiatAgain & @0xrobinhood


Vote is live here → Snapshot

Good Evening @moonwellking :last_quarter_moon_with_face: :rightwards_hand: :leftwards_hand: :first_quarter_moon_with_face:

I’ll reply to your post and try to provide some updates on the first few hours of votes and comments on Snapshot :slightly_smiling_face:

First of all, I really like your general opinion on the Protocol and I think you are a really valued member :index_pointing_at_the_viewer: . I like your ideas you share and also how you offer your help. If only we had people like you in the community we wouldn’t be at this point.

I would like to correct you on one point: the amount requested by the Apollo community is an “unallocated” token allocation. The token allocation for marketing and grow events will remain exactly the same as before this proposal. Every remaining Apollo user wants exactly the same thing as you :last_quarter_moon_with_face: :crown: :first_quarter_moon_with_face: I don’t want to go into your other points like “backstop” because there is absolutely no reference to it. It’s really great to have someone like you in the community, you care about Moonwell :last_quarter_moon_with_face: :hammer_and_pick: :first_quarter_moon_with_face:

I’m trying to present the discussion the Apollo community just had with a small example, forgive me if it’s confusing, i’m not the best writer :face_with_hand_over_mouth:

The apollo community is crazy about football and enjoys the current hype of women’s football with the world cup taking place :heart_on_fire:

So let’s get back to Moonwell :face_with_hand_over_mouth:. Imagine Moonwell is a country :earth_africa:, Apollo is the women’s soccer team and Artemis is the men’s soccer team. I don’t want to go into the technical level but if you think about it it’s not very different. Moonwell Apollo and Artemis share the same social medias, discord, telegram, code and contributors the only thing not shared until now is the community. No difference to a national team.

Back to Football, imagine the Artemis mens team has 1000 spectators and the Apollo womens team has 500 spectators at their games…wouldn’t it be 1500 in total? Wouldn’t it be logical to unite these two communities because they all want the same thing World Cup for Moonwell :last_quarter_moon_with_face: :1st_place_medal: :first_quarter_moon_with_face:

This is exactly how the Apollo community thinks. We want Moonwell as the winner, no matter what team you are on.

The discussion continued with technical questions about women’s soccer :grinning: but the general message to unite the communities should be clear :last_quarter_moon_with_face: :open_hands: :first_quarter_moon_with_face:

An update to the 3 comments from snapshot :camera_flash:

First of all, I don’t want to comment on price related concerns as they are meaningless. Any other concerns are very welcome :last_quarter_moon_with_face: :bulb: :first_quarter_moon_with_face:

I strongly recommend you to read the entire proposal as well, and join our unofficial Moonwell community… check out this tweet as Well

As I’ve said many times, this proposal has nothing to do with “backstop” or any other financial benefit, it’s about uniting the community and making Moonwell the largest lending protocol,
:last_quarter_moon_with_face: :1st_place_medal: :first_quarter_moon_with_face:

Bildschirmfoto 2023-08-18 um 22.08.48

if you have another idea let us know, we studied tokenomics and came to the conclusion that the “unallocated” token allocation is the best solution as it does not affect any existing shareholders or stakeholders :innocent:

Personally, I really enjoy a discussion here in the forum :slight_smile: Many people have shared an idea with us, but nothing ever came of it. I leave a screenshot here and hope everyone thinks about it :wink:

Only together we are strong :last_quarter_moon_with_face: :couplekiss_man_woman: :first_quarter_moon_with_face:

GN Moonwellians :last_quarter_moon_with_face: :sleeping_bed: :first_quarter_moon_with_face:

The Apollo community tries to answer every question and give a small update once a day.
enjoy your wknd
:last_quarter_moon_with_face:MOONWELLIANS :first_quarter_moon_with_face:

@ 0xrobinhood .I think you’re wasting your energy in the wrong direction. Since you sincerely believe that the airdrop will do more good than harm (if true) you better think about some facts

you have 90 people in the chat - you want to distribute a drop for 1100 people, which in 90% will be immediately sold. How can you talk about some kind of strong Apollo community in this case?
Is asking for free tokens disrespectful to the Artemis community who got their tokens on IDO at prices much higher than today?
You are better off focusing your energy on improving your community instead of what you are doing now

GM to you @smarty :sun_with_face: I see you can’t get the topic out of your head and are you trying to demotivate us right now? :face_with_hand_over_mouth:

Thanks for sharing your so called facts ( I won’t go into price speculation because it’s totally pointless ) but I’ll comment on your other points and will share some real facts as well as answer a snapshot feedback.

This TG group is 15 days old, 15 days ago 13 “founding members” held a vote whether a new community should be formed for the Moonriver / Moonwell community. The result was clear and 15 days later we are already >90 members. If we continue to grow like this, we will become an extremely strong community.

C’mon Smarty, again ? are you worried about new tokens coming into circulation :face_with_raised_eyebrow:

With our proposal, the $well emissions will not increase by more than 25% (likely way less than 20%) and I’m talking about pure reward emissions here. Important that you understand this now.

Reward emissions are currently $515,000 Well per day and only on the Moonbeam side.
Some of these emissions are important like LP rewards but some are less meaningful and it is precisely these tokens that are sold and bring no added value to the protocol or community.

With our proposal, up to 1150 new well holders will be created (that is 40% of the current well holders) Loyal members, Moonwell visionaries, protocol users and gov participants. That is an extreme added value.Every person or business on this planet would make this deal immediately. Remember this ? Not even an idea was shared, It should be clear to everyone that Moonwell needs a larger and active community and must not divide the community under any circumstances.

There is no reasonable reason to believe that our proposal will have any negative impact. except with extremely short-sighted thinking

You mean brilliant minds like this? From the IDO community

I found the group that was formed during the public sale. I remember that Lucas (co-founder) was also in the group and after the Ico he was very very pissed and disappointed with these community members. I don’t need to mention that this community whatever doesn’t exist anymore.

You see it’s more than important to bring the loyal community together, we all want the same thing, that Moonwell becomes the biggest lending protocol, I just wonder how is that possible with a scattered community. How are you going to compete with industry leaders if you don’t even have your own community that is on the same page.

Thnx for your feedback.

See my post above, that’s nothing new, currently 515k well tokens are distributed to users per day (moonbeam side). From your point of view, you would have to be against everything that moonwell is currently doing to attract new users. Just today a new proposal from warden, topic emissions. The only difference to reward emissions, is that you already know which users will be rewarded and that seems to me to be the biggest problem of the Artemis community.

That way of thinking would be very, very sad. :last_quarter_moon_with_face: :sob: :first_quarter_moon_with_face:

Ps. I’m still waiting for a question like: What could the Apollo community offer in a very short time? You all know that Apollo has a huge treasury for development…not always just about price, totally pointless

what you write is more like your fantasies and not something backed by facts … even at least what you write about some 1150 new loyal members … where did you get this from? even if you accept that you have 90 people in the group that you asked about it… You keep saying that airdrop is nothing compared to staking rewards and general circulation, but you don’t understand that these are not free tokens and therefore they have a completely different attitude towards them. Moonwell has a Base network with many potential users and needs to develop there, because in my opinion the Apollo community had the opportunity to become a member of Artemis for a whole year at very good prices, almost 8 times lower than the IDO price.

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Hello, I’m very surprised by this proposal, and I’ll be very brief, as your value proposition isn’t one. You use terms and phrases that suit you; all I can see is someone who might have lost money by investing in the MFAM token and is trying to recover money. Well, I’ve lost money on Moonriver, and I’ve been scammed on Ethereum projects. Should I ask for compensation from the Ethereum Foundation or the Moonbeam Foundation? Your investments are your responsibilities; when you invest in something, you should do so understanding the risks. Your proposal is very strange and doesn’t deserve to be honored, in my humble opinion. Your way of expressing yourself in this forum, the manner in which you respond to people, is also very strange. But anyway, let’s move on. Distributing 53 million WELL tokens the way you propose won’t bring any value to the project. And let’s say, if we were ready to distribute 53 million WELL tokens, we could do it in a different way that would truly bring in many new users and interest around the project. What I see here is someone who has lost money and is trying to manipulate governance to recover it.

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