Weekly Governance Update: Week of December 1st, 2025
Two onchain proposals went up for a vote this week.
Proposals
MIP-X37
Summary: The regular monthly reward speed proposal went onchain on Saturday. It made changes to the following markets:
- Base:
- ETH: Decreased WELL Supply and Borrow APR
- USDC: Decreased WELL Supply APR
- AERO: Decreased WELL Supply and Borrow APR
- cbBTC: Decreased WELL Supply and Borrow APR
- EURC: Decreased WELL Supply and Borrow APR
- WELL: Decreased WELL Supply and Borrow APR
- tBTC: Decreased WELL Supply and Borrow APR
- LBTC: Decreased WELL Supply and Borrow APR
- VIRTUAL: Decreased WELL Supply and Borrow APR
- MORPHO: Decreased WELL Supply and Borrow APR
- cbXRP: Decreased WELL Supply and Borrow APR
- Optimism Mainnet:
- USDC: Increased WELL Supply APR
- USDT: Decreased WELL Supply APR
- DAI: Decreased WELL Supply APR
- ETH: Decreased WELL Supply APR
- wstETH: Decreased WELL Supply APR
- rETH: Decreased WELL Supply APR
- OP: Decreased WELL Supply APR
- weETH: Decreased WELL Supply APR
- VELO: Decreased WELL Supply APR
- wrsETH: Decreased WELL Supply APR
- USDT0: Decreased WELL 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: Increased WELL Supply and Borrow APR; increased GLMR Supply and Borrow APR
- USDC.wh: Increased WELL Supply and Borrow APR; decreased GLMR Supply and Borrow APR
- xcUSDT: Increased WELL Supply and Borrow APR; decreased GLMR Supply and Borrow APR
- xcUSDC: Increased WELL Supply and Borrow APR; decreased GLMR Supply and Borrow APR
- Reserves to Auction: N/A
MIP-B53
Summary: In our previous weekly update, we summarized Anthias’ monthly recommendations for December. This week, on Wednesday, the proposal went up for an onchain vote for Base’s portion of the recommendations.
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: USDC supply is down 11%; AERO borrows and VIRTUAL supply are up 28% and 29%, respectively. There was ~$49K in liquidations across 89 events.
- OP Mainnet: OP supply and borrows are up 12% and 48%, respectively. There was ~$124 in liquidations across 12 events.
- Moonbeam: There was ~$5.4K in liquidations across 66 events.
- Moonriver: There was ~$2.1K in liquidations across 17 events.
…
Forum post: Moonriver Chain Sunset
Author: Anthias
Summary: Following the passage of MIP-R32 and MIP-R33 last month, Anthias informed the community that the winding down of collateral factors on the chain’s markets could result in liquidations for certain users. The team provided a table of possibly affected addresses.
Upcoming Events in Governance
Monthly Governance Call
December will not have a governance call on the last Thursday of the month due to the holidays and seasonal reduced governance activity. The next governance call will be in January, continuing our schedule of the last Thursday of each month. That falls on January 29th, 2026 at 17:00 UTC.