Weekly Governance Update: Week of October 6th, 2025
Four onchain proposals went up for a vote this week.
Proposals
MIP-X32
Summary: The regular monthly reward speed proposal went onchain on Sunday. It made changes to the following markets:
- Base:
- ETH: Increased WELL Supply and Borrow APR
- USDC: Decreased WELL Supply APR
- AERO: Decreased WELL Supply and Borrow APR
- cbBTC: Increased WELL Supply and Borrow APR
- EURC: Decreased WELL Supply and Borrow APR
- WELL: Decreased WELL Supply and Borrow APR
- tBTC: Increased WELL Supply and Borrow APR
- LBTC: Increased WELL Supply and Borrow APR
- VIRTUAL: Decreased WELL Supply and Borrow APR
- MORPHO: decreased WELL Supply and Borrow APR
- cbXRP: Increased WELL Supply and Borrow APR
- Optimism Mainnet:
- USDC: Decreased WELL Supply APR; decreased OP Supply APR
- USDT: Increased WELL Supply APR; increased OP Supply APR
- DAI: Increased WELL Supply APR; increased OP Supply APR
- ETH: Increased WELL Supply APR; increased OP Supply ARR
- wstETH: Decreased WELL Supply APR; decreased OP Supply APR
- rETH: Decreased WELL Supply APR; increased OP Supply APR
- OP: Decreased WELL Supply APR; increased OP Supply APR
- weETH: Decreased WELL Supply APR; decreased OP Supply APR
- VELO: Increased WELL Supply APR; increased OP Supply APR
- wrsETH: Decreased WELL Supply APR; increased OP Supply APR
- USDT0: Decreased WELL Supply APR; decreased OP Supply APR
- Moonbeam:
- GLMR: Decreased WELL Supply and Borrow APR; decreased GLMR Supply and Borrow APR
- DOT: Increased WELL Supply APR; increased GLMR Supply APR
- FRAX: Decreased WELL Supply and Borrow APR; decreased GLMR Supply and Borrow APR
- USDC.wh: Decreased WELL Supply and Borrow APR; decreased GLMR Supply and Borrow APR
- xcUSDT: Decreased WELL Supply and Borrow APR; decreased GLMR Supply and Borrow APR
- xcUSDC: Decreased WELL Supply and Borrow APR; decreased GLMR Supply and Borrow APR
- Reserves to Auction: ~$72K
MIP-X33
Summary: In our previous weekly update, we summarized Anthias’ monthly recommendations for October. This week, on Monday, the proposal went up for an onchain vote.
MIP-B48
Summary: On Friday, a new onchain proposal was submitted, seeking to add MAMO to the Base Core Markets. In the previous governance call, Moonwell contributor 0xMims noted Mamo’s passing of a Halborn audit with no outstanding issues, meeting risk assessment parameters (liquidity, swap size testing, etc.), and its Chainlink price feed going live on October 9th.
MIP-B49
Summary: In September’s governance call, Moonwell contributor Luke Youngblood announced an upcoming proposal to introduce the Moonwell Ecosystem Vault (meUSDC), a public credit facility with 0% performance fee. This facility establishes infrastructure to enable the DAO to fund operations and expansion in a capital-efficient way that preserves long-term alignment. This week, on Friday, the proposal was re-submitted, seeking to accept ownership on behalf of the temporal governor and set Anthias Labs as the allocator.
Contributor Updates
Forum post: [Anthias Labs] Weekly Market Updates
Author: Anthias
Summary: Anthias posted a weekly update on Friday for the Moonwell markets covering the previous week.
- Base: Some notable week-over-week changes include an increase in WETH supply and borrows and decreases in the supply of weETH, AERO, and cbBTC. There was $124,422.94 in liquidations across 58 liquidation events.
- OP Mainnet: Notable changes on OP Mainnet include a jump in USDC supply and borrows, but a decrease in USDT supply and borrows. There was $45.19 in liquidations across 2 events.
- Moonbeam: xcDOT supply increased by over 140%, while xcUSDT supply decreased 28%. There was $2,070.35 in liquidations across 12 events in the past week.
- Moonriver: There were no liquidations nor notable changes reported.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, October 30th.