Weekly Governance Recaps

Announcements & Updates Updates
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Weekly Governance Update: Week of December 22nd, 2025

One onchain proposal went up for a vote this week.

Proposals

MIP-X40

Summary: The regular monthly reward speed proposal went onchain on Wednesday. It made changes to the following markets:

  • Base:
    • ETH: Decreased WELL Supply and Borrow APR
    • USDC: Increased 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: Increased 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: Decreased WELL Supply APR
    • USDT: Decreased WELL Supply APR
    • DAI: Increased WELL Supply APR
    • ETH: Increased WELL Supply APR
    • wstETH: Increased WELL Supply APR
    • rETH: Decreased WELL Supply APR
    • OP: Increased WELL Supply APR
    • weETH: Increased WELL Supply APR
    • VELO: Decreased WELL Supply APR
    • wrsETH: Decreased WELL Supply APR
    • USDT0: Decreased WELL Supply APR
  • Moonbeam:
    • GLMR: Increased WELL Supply and Borrow APR; increased GLMR Supply and Borrow APR
    • DOT: Decreased WELL Supply APR; decreased GLMR Supply APR
    • FRAX: Increased WELL Supply and Borrow APR; increased GLMR Supply and Borrow APR
    • USDC.wh: Decreased WELL Supply and Borrow APR; increased GLMR Supply and Borrow APR
    • xcUSDT: Increased WELL Supply and Borrow APR; increased GLMR Supply and Borrow APR
    • xcUSDC: Decreased WELL Supply and Borrow APR; decreased GLMR Supply and Borrow APR
  • Reserves to Auction: N/A

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: MORPHO supply is up 12%. There was ~$66.7K in liquidations across 49 events.
  • OP Mainnet: USDC borrows and supply are down 29% and 16%, respectively. There were no liquidations.
  • Moonbeam: There was ~$380 in liquidations across 42 events.
  • Moonriver: There was ~$10.7K in liquidations across 136 events. The deprecation of Moonriver markets continues this month through the gradual reduction in collateral factors. Anthias posted a list of addresses likely to be affected here.

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, January 29th.

Monthly Governance Reports