Weekly Governance Update: Week of August 18th, 2025
One onchain proposal went up for a vote this week.
Proposals
MIP-B45: Remediation of Base Safety Module Rewards (Phase 1)
Summary: The first of two planned proposals, MIP-B45 sought to reimburse stkWELL stakers on Base who lost rewards due to the reward calculation bug triggered by MIP-X28. It creates a Merkl airdrop campaign to fully refund affected users for their pre-bug rewards (via Angle Protocol, see more here), sets Base Safety Module emissions to zero going forward, and transitions reward distribution to Merkl claims. A future governance proposal will address post-bug rewards using a time-weighted distribution.
Contributor Updates
Forum post: [Anthias Labs] Weekly Market Updates
Author: Anthias
Summary: Anthias posted a weekly update on Thursday for the Moonwell markets covering the previous week.
- Base: Some notable week-over-week changes include VIRTUAL supply (+41%, 1.77M → 2.50M) and borrows (+137%, 0.40M → 0.95M), AERO borrows (+25%, 7.89M → 9.88M), cbETH borrows (-54%, 162.06 → 74.23), rETH borrows (-46%, 43.20 → 23.18), and wstETH borrows (+33%, 151.29 → 200.91). There were $506,904.95 in liquidations across 109 liquidation events.
- OP Mainnet: Notable changes this week include a sharp jump in rETH borrows (~1095%), alongside declines in USDT borrows (~32%) and USDT supply (~28%). There were $278.99 in liquidations across 4 events.
- Moonbeam: Moonbeam’s core markets saw minimal week-over-week changes (GLMR ~+1%; stablecoin balances roughly flat), with a slight uptick in xcUSDT utilization. There was only $41.64 in liquidations across 2 events.
- Moonriver: Moonriver had virtually no week-over-week changes in supply or borrow levels. Likewise, no liquidation events occurred on Moonriver this week.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, August 28th.