Weekly Governance Update: Week of March 17th, 2025
A single Snapshot proposal went up for a vote this week.
Proposals
Moonwell Security Council - Member Replacement (Ana Bittencourt)
Summary: This Snapshot sought to update the Moonwell Security Council roster by replacing Elliot Friedman (Solidity Labs) with Ana Bittencourt, a full-time Solidity Engineer currently working with Lunar Labs. The next Security Council elections will take place onchain next month, but the current Council recommends filling in a replacement to avoid any security or governance risks.
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: No assets had an average supply cap usage of over 75%. The deployment had 14 asset liquidations in the past week: mWETH ($531.09K), mcbBTC ($165.94K), mAERO ($136.84K), mUSDC ($82.46K), mcbETH ($50.50K), mWELL ($19.11K), mwstETH ($10.62K), mVIRTUAL ($4.60K), mrETH ($564.10), mweETH ($367.41), mwrsETH ($267.40), mUSDS ($35.67), mEURC ($1.15), and mtBTC ($0.96).
- Optimism: Three assets had an average utilization of over 75%: USDC (80.95%), DAI (83.33%), and WETH (89.48%). The deployment had 10 asset liquidations in the past week: mUSDC ($90.41K), mWETH ($25.62K), mVELO ($22.19K), mwstETH ($12.74K), mOP ($12.74K), mwrsETH ($833.98), mcbETH ($34.41), mweETH ($18.88), mrETH ($0.85), and mUSDT ($0.08).
- Moonbeam: No assets had an average utilization of over 75%. The deployment had three asset liquidations in the past week: mDOT ($46.00K), mGLMR ($31.29K), and mETH.wh ($1.88K).
- Moonriver: One asset had an average utilization of over 75%: FRAX (90.83%). The deployment had two asset liquidations in the past week: mMOVR ($448.30) and mxcKSM ($5.08).
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Forum post: Gauntlet - Proposed Updates to the MALF
Author: Gauntlet
Summary: Gauntlet published updates to the Moonwell Asset Listing Framework discussion thread. The two updates established a swap size requirement of $500K impacting the price of 25% or less on DEXs/aggregators and a liquidity threshold of at least $2M TVL across one or more DEX pools. This will progress to a Snapshot vote in the near future.
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Forum post: Gauntlet Monthly Recommendations
Author: Gauntlet
Summary: Wednesday, Gauntlet offered their monthly recommendations on risk parameters across the four Moonwell deployments.
- Base: The reserve factor for WETH was increased and the supply cap for weETH was increased. IR parameters were recommended to be adjusted for USDC.
- Optimism: The collateral factor for VELO was decreased and the VELO supply cap was increased. IR parameters were recommended to be adjusted for USDC, USDT, and DAI.
- Moonbeam: Borrow Caps for WGLMR, USDC.wh, xcUSDC, xcUSDT, xcDOT, FRAX, and WETH.wh were decreased. Collateral factors for USDC.wh, WBTC.wh, and WETH.wh were decreased.
- Moonriver: No changes were recommended.
Gauntlet included minimum reserve values for each asset in the Base markets before auctioning off any excess reserves for WELL.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, March 27th.