Weekly Governance Update: Week of November 10th, 2025
One Snapshot proposal went up for a vote this week.
Proposals
”Remediation of Bad Debt From 10/10 Using Reserves”
Summary: On Monday, a forum post submitted by 0xMims and corresponding Snapshot proposal submitted by Fechuky sought to use protocol reserves on Base to cover ~$1.7M in bad debt resulting from the October 10th flash-crash event caused by extreme market dislocation and oracle mispricing. This proposal prioritizes repayment in markets with the highest user interest and activity, including VIRTUAL and cbXRP; the long-term goal is to repay all remaining bad debt (incurred during both the October 10th and wrsETH incidents) through ongoing protocol revenue over time.
Contributor Updates
Forum post: [Anthias Labs] Weekly Market Updates
Author: Anthias
Summary: On 11/12, borrows were re-enabled after the oracles in the wrsETH markets were replaced. Most markets had borrow caps fully restored, but some were only increased slightly. weETH, MORPHO, WELL, VIRTUAL, rETH, tBTC, and LBTC are among the adjustments made, each with lower borrow caps.
- Base: Some notable week-over-week changes include WETH supply and cbBTC borrows increasing by 11% and 52%, respectively. There was ~$20K in liquidations across 106 events.
- OP Mainnet: Notable changes on OP Mainnet include an increase in WETH supply and borrows and an increase in USDC supply and VELO borrows. There was ~$1.9K in liquidations across 3 events.
- Moonbeam: There was ~$2 in liquidations across 2 events.
- Moonriver: There was ~$1.6K in liquidations across 2 events.
Upcoming Events in Governance
Monthly Governance Call pushed back by one week
The next Monthly Governance Call has been pushed back by one week from the typical last Thursday of the month, November 27th, to December 4th to account for the US holiday.