Weekly Governance Update: Week of March 31st, 2025
One Snapshot and two onchain proposals went up for a vote this week.
Proposals
Moonwell Asset Listing Framework (MALF) - Implement Additional Review Threshold Requirements
Summary: Following last week’s discussion, this proposal refines the Moonwell Asset Listing Framework (MALF) review process, implementing three changes: (1) adding a Swap Size Requirement of $500K to incur a 25% price impact or less across DEXs/aggregators, (2) adding a Liquidity Threshold of at least $2M in total TVL across one or more DEX pools, and (3) stipulating that its proposed asset markets have Commercial Viability (potential to generate at least $1,000 per month in protocol revenue). The Snapshot was successful.
MIP-M42
Summary: Dave was a guest on December’s Great OEV Debate call where he made the case for Moonwell using API3’s OEV solution. He made a post in January proposing that Moonwell switch to API3’s OEV enabled data feed for the GLMR market on Moonbeam, which progressed to a Snapshot proposal in February. This week, the onchain proposal was submitted. If successful, API3 would distribute 80% of the OEV proceeds to Moonwell via the addReserves function on the GLMR Core Market on Moonbeam. The proposal was successful.
MIP-B42
Summary: Following a successful Snapshot last month, this onchain proposal sought to add a MORPHO Core Market to Moonwell on Base. It 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: No assets had an average supply cap usage of over 75%. The deployment had 10 asset liquidations in the past week: mweETH ($395.06K), mWELL ($52.15K), mAERO ($21.33K), mcbBTC ($10.93K), mWETH ($8.12K), mEURC ($7.08K), mUSDC ($2.72K), mVIRTUAL ($75.06), mcbETH ($3.84), and mwstETH ($0.92).
- Optimism: Four assets had an average utilization of over 75%: USDC (87.72%), USDT (79.26%), DAI (90.02%), and WETH (89.96%). The deployment had four asset liquidations in the past week: mUSDC ($1.95K), mOP ($125.89), mDAI ($28.01), and mVELO ($12.14).
- Moonbeam: No assets had an average utilization of over 75%. The deployment had five asset liquidations in the past week: mGLMR ($3.92K), mETH.wh ($311.42), mDOT ($97.05), mUSDC.wh ($2.06), and mWBTC.wh ($0.30).
- Moonriver: One asset had an average utilization of over 75%: FRAX (90.80%). No liquidations were reported.
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Community & Integrations
Forum post: Add LsETH Market to Moonwell on Base
Author: Lukas_LC
Summary: LsETH is Liquid Collective’s Ethereum liquid staking token. Included in the post are benefits to the Moonwell community, market risk assessment, oracle information, and more.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, April 24th.