Weekly Governance Recaps

Announcements & Updates Updates
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Weekly Governance Update: Week of Aug 31st, 2026

One onchain proposal went up for a vote this week.

Proposals

MIP-X66

Summary: Submitted on Monday, this proposal sought to implement Anthias’ latest risk and reserve recommendations across Moonwell markets on Base and OP Mainnet. However, its scope was larger than past recommendations proposals, including three categories of changes: (1) risk parameter updates for markets with limited liquidity, elevated oracle risk, or ongoing deprecation; (2) interest rate model updates on Base to reduce excessive interest accrual on outstanding bad debt; and (3) the withdrawal of available protocol reserves on Base and OP Mainnet for conversion to USDC and recapitalization of the USDC market. The changes are meant to reduce additional exposure in higher-risk markets, continue deprecating selected assets, reduce expected interest accrual on bad debt, and put available protocol reserves toward recapitalizing the USDC market.

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: Utilization sits near cap across the stablecoin and ETH markets (USDC 98.52%, cbETH 100%, USDS 96.83%, EURC 92.96%). Supply is down across the board for MORPHO (-95%), cbBTC (-45% and borrows +445%), WETH -19%, AERO -21%. There were 918 liquidation events seizing ~$2,394,442 in collateral (604 events, ~$2.01M in MAMO).
  • OP Mainnet: USDT increased on both sides (+18% borrows, +14% supply) while VELO and WETH dropped on both (borrows -64%/supply -22% and borrows -11%/supply -15%, respectively). There was ~$165 in collateral seized across 4 liquidation events.
  • Ethereum: USDC supply and borrows each roughly halved (-48%/-51%), USDT likewise (-47%/-50%), and cbBTC supply -29%. Utilization held in the 60-73% range and there were 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, September 24th.

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