Weekly Governance Update: Week of March 30th, 2026
One onchain proposal went up for a vote this week.
Proposals
MIP-X49
Summary: MIP-X49 was submitted onchain on Thursday. It sought to fix two Wormhole post-V3 audit findings, improving reliability and maintainability of Moonwell’s cross-chain infrastructure. Several contracts used a different consistency setting than intended. The WormholeBridgeAdapter’s bridgeCost() function also included a check against the deprecated Wormhole relayer quoter (logic which was no longer necessary). The proposal thus sought to set consistencyLevel = 1 across all contracts utilizing publishMessage, and update the bridgeCost() implementation, removing calls to the deprecated relayer quoter.
Contributor Updates
Forum post: Proposal for Monthly Excess Reserve Distribution to cbETH Users
Author: Anthias
Summary: Anthias created a forum post showcasing Base reserve changes over a two-month period, beginning February 1st, 2026. The post proposed using the reserves that have accrued over the past two months (in excess of any bad debt) to compensate users affected by the cbETH incident. Reserves would continue to accrue in markets with existing bad debt (e.g. WETH and USDC), while excess reserves from markets without bad debt would be allocated toward remediating the impact on cbETH users. The team recommended continuing this structure every month going forward.
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Forum post: [Anthias Labs] Weekly Market Updates
Author: Anthias
Summary: Anthias posted a weekly update on Thursday for the Moonwell markets covering the previous week.
- Base: USDC, wstETH, and EURC supply were notably down on the week; WELL and VVV supply were up. There was ~$6.5K in liquidations across 49 events.
- OP Mainnet: WETH and USDC borrows supply were up this week; WETH and USDT0 supply are also notably up on the week. Liquidations were negligible.
- Moonbeam: No liquidations nor notable events were reported.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, April 30th.