# Weekly Governance Recaps **URL:** \ **Category:** Updates\ **Tags:** boardroom\ **Created:** [February 12, 2024, 10:57pm UTC](https://forum.moonwell.fi/t/weekly-governance-recaps/786 "2024-02-12T22:57:45Z")\ **Posts on this page:** 1\ **Showing post:** 26
**Author:** ![Boardroom](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/boardroom/32/1282_2.png) [@Boardroom](https://forum.moonwell.fi/u/Boardroom)\ **Post date:** [July 29, 2024, 2:34pm UTC](https://forum.moonwell.fi/t/weekly-governance-recaps/786/26 "2024-07-29T14:34:08Z")
# Weekly Governance Update: Week of July 22nd, 2024 The fourth week of July included important proposals to activate the Moonwell protocol on Optimism mainnet and a Temp Check Snapshot to add a new market to Moonwell on Base. **Here are the highlights:** ## Contributor Updates **Forum post:** [Gauntlet Base/Moonbeam/Moonriver Weekly Market Update](https://forum.moonwell.fi/t/gauntlet-base-moonbeam-moonriver-weekly-market-update-2024-07-15-through-2024-07-21/1121) **Author:** [Gauntlet](https://forum.moonwell.fi/u/gauntlet/summary) **Summary:** Gauntlet posted a weekly update on Tuesday for the Moonwell markets covering the previous week. - **Base** : Two assets had an average borrow/supply cap usage of over 75%: USDbC (76.56% supply cap) and rETH (98.73% supply cap). The deployment had $752.18 in liquidations across five assets in the past week: mwstETH ($396.77), mUSDC ($122.50), mrETH ($111.29), mWETH ($70.77), and mAERO ($50.85). - **Moonbeam** : No asset had an average utilization greater than 75%. The deployment had $491.25 in liquidations of a single asset in the past week: mGLMR. - **Moonriver** : One asset had an average utilization greater than 75%: FRAX (81.27%). The deployment had $1,104.44 in liquidations across three assets in the past week: mMOVR ($7.82), mUSDT ($7.78), and mxcKSM ($7.41). … ## Integration Updates **Proposals:** [MIP-O00](https://moonwell.fi/governance/proposal/moonbeam?id=106) and [MIP-O01](https://moonwell.fi/governance/proposal/moonbeam?id=107) **Summary:** On Wednesday, MIP-O00 and MIP-O01 were submitted for onchain voting. Following the governance contract upgrades through [MIP-X01](https://moonwell.fi/governance/proposal/moonbeam?id=105), this pair of proposals aimed to activate the Moonwell protocol on OP Mainnet and expand Moonwell’s reach within the Optimism Superchain. **Outcome:** MIP-O00 and MIP-O01 were passed by the community. … **Forum post:** [Add weETH Market to Moonwell on Base](https://forum.moonwell.fi/t/add-weeth-market-to-moonwell-on-base/988) **Summary:** In the first half of June, Justin from [Ether.fi](http://Ether.fi) created a forum discussion with the intention of adding a weETH market to Moonwell’s Base deployment. [Ether.fi](http://Ether.fi) is a liquid staking protocol built on Ethereum; the protocol issues eETH as a liquid restaking token and weETH is its non-rebasing equivalent. For more information on risk assessment, decentralization, market history, and more, see the forum post above. On July 25th, the team submitted a [Snapshot](https://snapshot.moonwell.fi/#/proposal/0x760ac1c92253e57ae52532ac491cf6915c97ab60ea40b588d4a92eaee0232c2a) to gauge the community’s sentiment on this proposal. **Outcome:** The Snapshot passed its voting period. … ## Upcoming Events in Governance ### Monthly Governance Call **This Thursday** Look for the next Monthly Governance Call in Discord on the first Thursday of the month, August 1st. ### [July’s Governance Participant Galxe campaign](https://app.galxe.com/quest/Moonwell/GCWWPtgTTC) Winners of the $2000 prize pool for July’s campaign will be announced shortly after the start of August. --- _[View the full topic](https://forum.moonwell.fi/t/weekly-governance-recaps/786)._