Weekly Governance Recaps

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Weekly Governance Update: Week of June 8th, 2026

Two onchain proposals went up for a vote this week.

Proposals

MIP-X59

Summary: The regular monthly reward speed proposal went onchain on Thursday. It made changes to the following markets:

  • Base:
    • ETH: Decreased WELL Supply and Borrow APR
    • USDC: Decreased WELL Supply APR
    • AERO: Increased WELL Borrow APR
    • cbBTC: Increased WELL Supply and Borrow APR
    • EURC: Increased WELL Supply and Borrow APR
    • WELL: Decreased WELL Supply and Borrow APR
    • tBTC: Increased WELL Supply and Borrow APR
    • LBTC: Increased WELL Supply and Borrow APR
    • VIRTUAL: Decreased WELL Supply and Borrow APR
    • MORPHO: Increased WELL Supply and Borrow APR
    • cbXRP: Decreased WELL Supply and Borrow APR
    • MAMO: Increased WELL Supply and Borrow APR
    • VVV: Increased WELL Supply and Borrow APR
  • Ethereum:
    • ETH: N/A
    • USDC: N/A
    • USDT: N/A
    • cbBTC: N/A

MIP-X60

Summary: In our recap for the week of May 18th, we summarized Anthias’ risk parameter recommendations for June. On June 11th, the crosschain proposal was created. This proposal was twofold; the routine half of the proposal involved Anthias’ monthly recommendations as usual. It also implemented the team’s reserve recommendations from last month. It sought to adjust risk parameters on Base and Optimism Mainnet, while also (1) using reserves to repay $538K of bad debt from addresses with zero collateral, and (2) withdrawing 1.45 cbBTC from reserves and swap it to WETH in preparation to distribute to users affected by the cbETH incident.

Delegate Updates

Forum post: Evolving Moonwell’s Risk Management — Accelerating Oracle Safeguards and Parameter Responsiveness

Author: Chidi

Summary: Chidi created a forum discussion on Monday, surfacing the idea of evolving Moonwell’s current risk management systems. Included in his write-up are expanding the Cap Guardian role (held by Anthias) to include more types of parameters, an oracle circuit breaker that automatically pauses a market if an oracle price deviates significantly from a secondary source, a liquidation cascade circuit breaker that pauses excessive liquidations in a certain market for review, and a deployment verification of oracle configurations for new markets

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: AERO supply is up 29%, while cbETH, VIRTUAL, and VVV supply contracted 41%, 46%, and 40%, respectively; the supply contractions pushed cbETH and VIRTUAL utilization to ~100%. USDC borrows are down 7%. No liquidation events this week.
  • OP Mainnet: USDC borrows and supply are down 26% and 18%, respectively; OP borrows are down 54% and VELO borrows are down 36%. There was ~$23.2K in liquidations across 51 events.
  • Moonbeam: xcUSDC borrows contracted 19%. No liquidations nor other notable events.
  • Ethereum: Now covered in the weekly updates following the initial Ethereum market launches. Markets remain in their infancy, no liquidations.

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, June 25th.

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