Weekly Governance Recaps

Announcements & Updates Updates
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Weekly Governance Update: Week of December 30th, 2024

One Snapshot proposal went up for a vote this week.

Proposals

Add USDS to Moonwell Core Market on Base

Summary: Monday, Super Delegate 0xMims created a forum post outlining a proposal to add a Core Market for USDS - Sky Protocol’s Sky Dollar - to Moonwell on Base. USDS is a stablecoin that maintains a soft peg to the U.S. dollar and is backed by surplus capital. The proposal outlines the benefits, risk assessment, decentralization, and other key factors that the community should be aware of. It progressed to a Snapshot vote on Wednesday. The Snapshot was successful.

Contributor Updates

Forum post: Gauntlet Weekly Market Update

Author: Gauntlet

Summary: Gauntlet posted a weekly update on Monday for the Moonwell markets covering the previous week.

  • Base: Two assets had an average supply cap usage of over 75%: weETH (99.76%) and rETH (86.68%). The deployment had eight asset liquidations in the past week: mAERO ($31.77K), mweETH ($10.55K), mcbBTC ($9.28K), mUSDC ($4.12K), mcbETH ($2.28K), mWETH ($1.80K), mwstETH ($34.27), and mEURC ($17.53).
  • Optimism: Four assets had an average utilization of over 75%: USDC (89.38%), USDT (82.28%), DAI (92.73%), and WETH (87.89%). The deployment had six asset liquidations in the past week: mWETH ($107.21), mWBTC ($101.06), mrETH ($24.35), mwstETH ($3.99K), mUSDC ($1.26), and mOP ($0.26).
  • Moonbeam: No assets had an average utilization of over 75%. The deployment had three asset liquidations in the past week: mDOT ($1.93K), mWBTC.wh ($1.18K), and mFRAX ($30.60).
  • Moonriver: One asset had an average utilization of over 75%: FRAX (88.50%). No liquidations were reported.

Community & Integrations

Forum post: tBTC Asset Listing

Author: citizen42

Summary: Saturday, @citizen42 created a forum post centered on adding a tBTC Core Market to Moonwell. tBTC is the Bitcoin-backed permissionless derivative token issued by Threshold Network, allowing Bitcoin’s value to be used in applications on other blockchains. The forum post lays out the protocol’s progress, including chain expansions, market cap, integration with other lending protocols, and more.

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call in Discord on the second Thursday of the month, January 9th.

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