Weekly Governance Recaps

Announcements & Updates Updates
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Weekly Governance Update: Week of April 14th, 2025

One onchain proposal went up for a vote this week.

Proposals

MIP-M43 Switching Moonwell’s GLMR Market to using API3’s OEV Enabled Data Feed for GLMR

Summary: This proposal is a resubmission of MIP-M42, which sought to switch from Chainlink to API3’s OEV-enabled data feed for the GLMR Core Market on Moonbeam. If successful, API3 would distribute 80% of the OEV proceeds to Moonwell via the addReserves function. Although MIP-M42 was passed, it contained incorrectly configured calldata and it failed to execute. MIP-M43 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%: weETH (82.13%). The deployment had 14 asset liquidations in the past week: mWETH ($1.77M), mcbBTC ($306.15K), mcbETH ($232.49K), mUSDC ($100.59K), mAERO ($62.27K), mWELL ($40.22K), mrETH ($35.73K), mEURC ($11.35K), mwstETH ($8.26K), mVIRTUAL ($4.63K), mtBTC ($4.48K), mrwsETH ($134.52), mweETH ($48.65), and mDAI ($5.63).
  • Optimism: Four assets had an average utilization of over 75%: USDC (82,75%), USDT (88.63%), DAI (84.15%), and WETH (90.09%). The deployment had seven asset liquidations in the past week: mVELO ($45.64K), mWETH ($5.31K), mwstETH ($2.09K), mOP ($1.37K), mweETH ($1.37K), mwrsETH ($121.39), and mrETH ($0.22).
  • Moonbeam: No assets had an average utilization of over 75%. The deployment had six asset liquidations in the past week: mDOT ($22.62K), mGLMR ($9.43K), mETH.wh ($871.60), mWBTC.wh ($91.45), mxcUSDT ($37.72), and mFRAX ($0.33).
  • Moonriver: One asset had an average utilization of over 75%: FRAX (86.31%). The deployment had two asset liquidations in the past week: mMOVR ($1.41K) and mxcKSM ($167.51).

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Forum post: Gauntlet Monthly Recommendations

Author: Gauntlet

Summary: Thursday, Gauntlet offered their monthly recommendations on risk parameters across the four Moonwell deployments.

  • Base: Collateral factors were increased for USDC, EURC, cbBTC, LBTC, and tBTC. Reserve factors were decreased for cbBTC, LBTC, tBTC, and EURC. Supply cap and borrow cap for tBTC were increased. IR parameters were recommended to be adjusted for USDC and WETH.
  • Optimism: Collateral factors were increased for USDC and USDT. IR parameters were recommended to be adjusted for USDC, USDT, DAI, and WETH.
  • Moonbeam: Borrow caps were decreased for WGLMR, xcUSDC, USDC.wh, FRAX, and WETH.wh. Collateral factors were decreased for FRAX, USDC.wh, WETH.wh, WGLMR, and xcUSDC.
  • Moonriver: No changes were recommended.

Community & Integrations

Forum post: Add LsETH Market to Moonwell on Base

Author: Lukas_LC

Summary: Last week, LsETH was proposed by a community member to be added as a Moonwell Core Market. This week, Gauntlet advised against onboarding the asset as collateral due to liquidity concentration and other factors.

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.