Weekly Governance Update: Week of May 4th, 2026
Two onchain proposals went up for a vote this week.
Proposals
MIP-X53
Summary: The first of two proposals submitted on Wednesday, MIP-X53 sought to upgrade the xWELL Wormhole adapter implementation to resolve configuration issues identified after MIP-X52. MIP-X52 upgraded the xWELL Wormhole adapter contract to the new Wormhole Executor pattern. After deployment, two issues were identified: the executor receiving endpoint on Moonbeam consumed high amounts of gas, and a new setter was needed to update the quoter address due to Wormhole documentation discrepancies.
MIP-X54
Summary: In our recap for the week of April 27th, we summarized Anthias’ risk parameter recommendations for May. On May 6th, the crosschain proposal was created. It passed its voting period.
Contributor Updates
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: WETH supply and cbBTC borrows are up 45% and 100%, respectively; AERO supply is down 10%. There were no liquidations this week.
- OP Mainnet: WETH borrows and supply both increased (42% and 18%, respectively). Similarly, USDC borrows and supply are up 46% and 42%. No liquidations were reported.
- Moonbeam: No notable changes nor liquidation events were reported.
Community & Integrations
Forum post: Proposal to add deSPXA market to Moonwell on Base
Author: graham_centrifuge
Summary: As first introduced by Luke during the last governance call, a forum proposal to create a market for Centrifuge’s deSPXA on Base was created on Tuesday. deSPXA is a transferable, Base-native debt instrument linked to SPXA, the Janus Henderson Anemoy S&P 500 Index Fund. The team is waiting on a Chainlink-compatible adapter for price feeds before proceeding. Anthias recommended initializing the market on Base, with the caveat that the borrow and supply caps are initially zeroed-out due to low DEX liquidity.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, May 28th.