Weekly Governance Update: Week of January 6th, 2024
One Snapshot and one onchain proposal went up for a vote this week.
Proposals
Add tBTC to Moonwell Core Market on Base
Summary: Last week, we covered Threshold Network’s tBTC asset listing forum discussion. This week, the proposal progressed to a Snapshot signal vote. On January 9th, the proposal successfully passed.
MIP-B37: Add WELL Market to Moonwell on Base
Summary: Following a successful Snapshot proposal and the posting of Gauntlet’s recommendations, the proposal to add a WELL Core Market to Moonwell on Base went onchain on January 8th. The proposal was successful.
Delegate Updates
Forum post: VIRTUAL Asset Listing
Author: 0xMims
Summary: On Sunday, Super Delegate 0xMims proposed adding VIRTUAL, the governance and utility token of Virtuals Protocol, to Moonwell. Included in his proposal are benefits to the Moonwell community, market metrics, decentralization, and more.
Contributor Updates
Forum post: Gauntlet Weekly Market Update
Author: Gauntlet
Summary: Gauntlet posted a weekly update on Tuesday for the Moonwell markets covering the previous week.
- Base: Two asset had an average supply cap usage of over 75%: weETH (99.77%) and rETH (84.04%). The deployment had nine asset liquidations in the past week: mWETH ($66.41K), mAERO ($43.17K), mwstETH ($13.34K), mcbETH ($3.38K), mcbBTC ($971.81), mUSDC ($431.49), mEURC ($13.06), mDAI ($11.96), and mrETH ($7.75).
- Optimism: Four assets had an average utilization of over 75%: USDC (90.35%), USDT (83.14%), DAI (90.00%), and WETH (87.05%). The deployment had five asset liquidations in the past week: mwrsETH ($51.66K), mWETH ($3.88K), mVELO ($3.43K), mrETH ($293.57), and mDAI ($3.99).
- Moonbeam: No assets had an average utilization of over 75%. The deployment had two asset liquidations in the past week: mGLMR ($3.45K) and mDOT ($3.01K).
- Moonriver: One asset had an average utilization of over 75%: FRAX (87.94%). The deployment had one asset liquidation in the past week: mMOVR ($2.76).
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Forum post: Gauntlet’s WELL Recommendations
Author: Gauntlet
Summary: Following a successful Snapshot proposal from 0xMims, Gauntlet has offered their recommendations for the proposed WELL Core Market on Base. Included in the comment are recommended supply/borrow caps, collateral factors, IR curve parameters, and more.
Community & Integrations
Forum post: Lombard LBTC Risk Assessment by Block Analitica
Author: BlockAnalitica
Summary: Following last month’s successful Snapshot, Block Analitica offered their risk analysis for Lombard Finance’s proposed LBTC Core Market on Base.
Upcoming Events in Governance
Monthly Governance Call
The governance call for January is now available on YouTube.
Look for the next Monthly Governance Call in Discord on the first Thursday of each month. The next call is on February 6th.