Weekly Governance Update: Week of April 28th, 2025
One Snapshot went up for a vote this week.
Proposals
Add USDT0 market to Moonwell on OP Mainnet
Summary: After creating a forum post last week, Super Delegate 0xMims submitted the Snapshot proposal on Monday. It sought to add a Core Market for Tether’s USDT0 to Moonwell on Optimism Mainnet. It was successful. Shortly after it passed, Gauntlet recommended onboarding the asset and provided risk parameter recommendations.
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 11 asset liquidations in the past week: mUSDC ($50.74K), mEURC ($9.67K), mAERO ($8.43K), mWELL ($7.80K), mLBTC ($6.66K), mcbBTC ($3.81K), mVIRTUAL ($536.90), mWETH ($366.30), mwstETH ($55.81), mcbETH ($30.82), mrETH ($0.99).
- Optimism: Four assets had an average utilization of over 75%: USDC (84.05%), USDT (87.02%), DAI (79.37%), and WETH (86.98%). The deployment had four asset liquidations in the past week: mUSDC ($344.39), mWETH ($193.78), mrETH ($161.36), and mOP ($19.23).
- Moonbeam: No assets had an average utilization of over 75%. The deployment had five asset liquidations in the past week: mUSDC.wh ($9.16K), mFRAX ($2.34K), mGLMR ($1.90K), mDOT ($618.89), and mETH.wh ($3.71).
- Moonriver: One asset had an average utilization of over 75%: FRAX (93.08%). The deployment had two asset liquidations in the past week: mxcKSM ($72.22) and mMOVR ($0.22).
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Forum post: Monthly Governance Report and Monthly Governance Calls
Author: Boardroom
Summary: Boardroom published April’s monthly governance report on the final day of the month, followed by a recap of April’s governance call (which is now available on YouTube!).
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Forum post: Gauntlet - Cap Recommendations
Author: Gauntlet
Summary: Gauntlet announced they would use Cap Guardian to change caps throughout the week:
- wrsETH (Optimism) Supply Cap from 1300 to 200
- wrsETH (Base) Supply Cap from 800 to 20
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, May 29th.