Weekly Governance Recaps

Announcements & Updates Updates
136

Weekly Governance Update: Week of Sep 7th, 2026

One onchain proposal went up for a vote this week.

Proposals

MIP-X67

Summary: The automated monthly liquidity incentive proposal went onchain on Wednesday. It made changes to the following markets:

  • Base:
    • ETH: Increased WELL Supply APR; decreased WELL Borrow APR
    • USDC: Increased WELL Supply APR; decreased WELL Borrow APR
    • wstETH: Increased WELL Supply APR; decreased WELL Borrow APR
    • cbBTC: Increased WELL Supply APR; decreased WELL Borrow APR
  • Ethereum:
    • ETH: Increased both WELL Supply and WELL Borrow APR
    • USDC: Increased both WELL Supply and WELL Borrow APR
    • USDT: Increased both WELL Supply and WELL Borrow APR
    • cbBTC: Increased both WELL Supply and WELL Borrow APR

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 (9/4/26 – 9/10/26).

  • Base: Utilization remained near the cap on the stablecoin and ETH markets (USDC 99.96%, cbETH 100%, USDS 99.99%, EURC 99.77%). AERO supply is down -60%, WETH supply -47% (borrows -42%), USDC supply and borrows each -21%, MORPHO supply -51%. There were 81 liquidation events totaling ~$36,281.
  • OP Mainnet: USDC supply is down -70% (borrows -67%), wstETH supply -68%, WETH supply -23% (borrows -84%), USDT supply -20%. Liquidations were negligable.
  • Ethereum: USDC supply is down -56% (borrows -50%), cbBTC supply -42% (borrows -50%), USDT supply -5%. 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.

Monthly Governance Reports