Weekly Governance Update: Week of June 9th, 2025
Two Snapshots and two onchain proposals went up for a vote this week.
Proposals
Switching all Moonbeam Markets to using API3’s Data Feeds to Maximize OEV Recapture
Summary: Last week, we covered @dav3’s proposal to switch to using API3’s OEV data feeds for all Moonbeam Core Markets. On Monday, the proposal progressed to a Snapshot vote. It was successful.
MIP-B43: Add cbXRP to Base Core Markets
Summary: Last week, the Snapshot proposal to add a cbXRP Core Market to Moonwell on Base successfully passed a Snapshot vote. On Thursday, it progressed to an onchain vote.
MIP-B44: Renewal of Moonwell Vaults Incentives Program
Summary: On Friday, Block Analitica submitted an onchain proposal that sought to renew the Moonwell Morpho Vaults incentives program for an additional 90-day period, requesting a grant of 10M WELL tokens. The grant will be allocated across the USDC, ETH, EURC, and cbBTC vaults (50%, 24%, 13%, and 13%, respectively) to optimize liquidity and address market demand.
Add cUSDO (OpenEden) market to Moonwell on Base
Summary: cUSDO is a non-rebasing, yield-bearing stablecoin issued by OpenEden, backed 1:1 by U.S. Treasury Bills.
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: mWETH ($383.85K), mcbBTC ($118.91K), mWELL ($14.91K), mAERO ($7.10K), mVIRTUAL ($6.49K), mUSDC ($3.14K), mwstETH ($1.09K), mEURC ($544.87), mLBTC ($408.54), and mcbETH ($12.00).
- Optimism: Three assets had an average utilization of over 75%: USDT (79.43%), DAI (79.97%), and WETH (87.09%). The deployment had five asset liquidations in the past week: mWETH ($87.58K), mUSDT0 ($1.95K), mVELO ($1.46K), mOP ($572.41), and mUSDC ($23.26).
- Moonbeam: No assets had an average utilization of over 75%. The deployment had two asset liquidations in the past week: mFRAX ($152.30) and mDOT ($1.52).
- Moonriver: No assets had an average utilization of over 75%. The deployment had one asset liquidation in the past week: mMOVR ($146.97).
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Forum post: Anthias Labs - Initial Parameter Recommendations for cbDOGE and cbXRP
Author: AnthiasLabs
Summary: Shortly after the Snapshot proposals were successfully passed to add cbDOGE and cbXRP markets to Moonwell on Base, Anthias Labs offered initial parameter recommendations for onboarding the assets as collateral. The team also provided an onchain liquidity update for cbXRP.
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Forum post: [Anthias Labs] - Risk Parameter Recommendations (6/11/2025)
Author: AnthiasLabs
Summary: Anthias Labs shared their first monthly recommendations for the Base Core Markets on Wednesday. They addressed the volatility in the USDC interest rates in early June, recommending a bump to its multiplier.
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Forum post: Gauntlet Monthly Recommendations
Summary: Wednesday, Gauntlet offered their monthly recommendations on risk parameters across the four Moonwell deployments.
- Base: Reserve factors were increased for cbBTC, LBTC, and tBTC. IR parameters were recommended to be adjusted for WETH, cbBTC, LBTC, tBTC, and AERO.
- Optimism: Supply Cap and Borrow Cap for USDT0 were decreased, while weETH’s Supply Cap and Borrow Caps were increased. IR parameters were recommended to be adjusted for USDC, USDT0, and WETH.
- Moonbeam: Collateral Factors were decreased for FRAX, USDC.wh, WETH.wh, WGLMR, xcUSDC, and xcUSDT.
- Moonriver: No changes were recommended.
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Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, June 26th.