# 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:** 28
**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:** [August 12, 2024, 1:55pm UTC](https://forum.moonwell.fi/t/weekly-governance-recaps/786/28 "2024-08-12T13:55:49Z")
# Weekly Governance Update: Week of August 5th, 2024 The first week of August included onchain proposals for Gauntlet’s recommendations, a proposal to activate a VELO market on Optimism, and proposals to activate markets for EtherFi’s weETH on Base and Optimism. **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-2024-07-29-through-2024-08-04/1161) **Author:** [Gauntlet](https://forum.moonwell.fi/u/gauntlet/summary) **Summary:** Gauntlet posted a weekly update on Monday for the Moonwell markets covering the previous week. - **Base** : Two assets had an average borrow/supply cap usage of over 75%: AERO (83.12% borrow cap and 84.08% supply cap) and rETH (99.17% supply cap). The deployment had $259,946.47 in liquidations across five assets in the past week: mWETH ($141.79K), mAERO ($62.58K), mwstETH ($43.45K), mcbETH ($11.96K), and mUSDC ($166.67). - **Moonbeam** : No asset had an average utilization greater than 75%. The deployment had $40,568.52 in liquidations across three assets in the past week: mDOT ($23.61K), mGLMR ($14.41K), mETH.wh ($2.54K, and mFRAX ($8.52). - **Moonriver** : One asset had an average utilization greater than 75%: FRAX (82.91%). The deployment had $6,448.17 in liquidations across two assets in the past week: mMOVR ($5.78K) and mxcKSM ($668.17). … **Forum post:** [Gauntlet Base/Moonbeam/Moonriver Recommendations](https://forum.moonwell.fi/t/gauntlet-base-optimism-moonbeam-moonriver-monthly-recommendations-2024-08-01/1151) **Author:** [Gauntlet](https://forum.moonwell.fi/u/gauntlet/summary) **Summary:** Last week, Gauntlet offered their monthly recommendations on risk parameters across the four Moonwell deployments. This week, the recommendations were implemented into four onchain proposals: [MIP-B24](https://moonwell.fi/governance/proposal/moonbeam?id=114), [MIP-O03](https://moonwell.fi/governance/proposal/moonbeam?id=116), [MIP-M36](https://moonwell.fi/governance/proposal/moonbeam?id=115), and [MIP-R23](https://moonwell.fi/governance/proposal/moonriver?id=56). **Outcome:** All four proposals passed their onchain voting period. … **Forum post:** [Gauntlet - cbETH Cap Recommendation for Optimism](https://forum.moonwell.fi/t/gauntlet-cbeth-cap-recommendation-for-optimism-2024-08-11/1168) **Author:** [Gauntlet](https://forum.moonwell.fi/u/gauntlet/summary) **Summary:** On Sunday, Gauntlet announced they would use Cap Guardian to increase Supply Cap for AERO from 30 to 50. For the rationale behind these changes, see the forum post above. … ## Integration Updates **Proposal:** [MIP-O04: Activate Velo Market on Optimism](https://moonwell.fi/governance/proposal/moonbeam?id=118) **Summary:** On Monday, MIP-O04 was submitted for onchain voting. The proposal sought to activate a VELO market on Moonwell’s Optimism deployment. On Wednesday, the onchain proposal was re-submitted. **Outcome:** [MIP-O04](https://moonwell.fi/governance/proposal/moonbeam?id=118) was overwhelmingly 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 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. On July 25th, the team submitted a successful [Snapshot](https://snapshot.moonwell.fi/#/proposal/0x760ac1c92253e57ae52532ac491cf6915c97ab60ea40b588d4a92eaee0232c2a) to gauge the community’s sentiment on this proposal. After Gauntlet gave their [initial parameter recommendations](https://forum.moonwell.fi/t/gauntlets-weeth-initial-recommendations/1154) (see the first comment for updated recommendations), the proposal progressed to two onchain votes ([one](https://moonwell.fi/governance/proposal/moonbeam?id=119) for Moonwell’s Optimism deployment and [one](https://moonwell.fi/governance/proposal/moonbeam?id=120) for Moonwell’s Base deployment) on Wednesday. **Outcome:** MIP-B25 and MIP-O05 passed their voting period. … ## Upcoming Events in Governance ### Monthly Governance Call **The first Thursday of each month** Look for the next Monthly Governance Call in Discord on the first Thursday of the month, September 5th. ### [August’s Governance Participant Galxe campaign](https://app.galxe.com/quest/Moonwell/GCHkztvtap) Don’t miss out on the final opportunity to win a share of the $2000 prize pool for this month’s governance campaign! --- _[View the full topic](https://forum.moonwell.fi/t/weekly-governance-recaps/786)._