Weekly Governance Recaps

Announcements & Updates Updates
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Weekly Governance Update: Week of April 7th, 2025

One onchain proposal went up for a vote this week.

Proposals

MIP-X19 Automated Liquidity Incentive Proposal

Summary: The regular monthly reward speed proposal went onchain on Wednesday. It made changes to the following markets and included ~$169K in reserves to auction based on this proposal.

  • Base:
    • ETH: Decreased WELL Supply and Borrow APR
    • USDC: Increased WELL Supply APR
    • AERO: Decreased WELL Supply and Borrow APR
    • cbBTC: Decreased WELL Borrow APR
    • EURC: Increased WELL Supply and Borrow APR
    • WELL: Increased WELL Supply and Borrow APR
    • tBTC: Increased WELL Supply and Borrow APR
    • LBTC: Decreased WELL Supply and Borrow APR
    • VIRTUAL: Increased WELL Supply and Borrow APR
    • MORPHO: Increased WELL Supply and Borrow APR
  • Optimism:
    • USDC: Increased WELL Supply and decreased Borrow APR; increased OP Supply APR
    • USDT: Decreased WELL Supply and Borrow APR; increased OP Supply APR
    • DAI: Increased WELL Supply and decreased Borrow APR; increased OP Supply APR
    • ETH: Increased WELL Supply and decreased Borrow APR; increased OP Supply APR
    • wstETH: Increased WELL Supply APR; increased OP Supply APR
    • rETH: Increased WELL Supply APR; increased OP Supply APR
    • OP: Increased WELL Supply APR; increased OP Supply APR
    • weETH: Increased WELL Supply APR; increased OP Supply APR
    • VELO: Increased WELL Supply and decreased Borrow APR; increased OP Supply APR
    • wrsETH: Increased WELL Supply APR; increased OP Supply APR
  • Moonbeam:
    • GLMR: Decreased WELL Supply and Borrow APR; decreased GLMR Supply and Borrow APR
    • DOT: Decreased WELL Supply APR; increased GLMR Supply APR
    • FRAX: Increased WELL Supply and Borrow APR; increased 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; increased GLMR Supply and Borrow APR
    • xcUSDC: Increased WELL Supply and Borrow APR; increased GLMR Supply and Borrow APR
  • Reserves to auction:
    • AERO (Base): $114,347.67
    • USDC (Optimism): $38,808.02
    • OP (Optimism): $821.85
    • VELO (Optimism): $15,840.47

Contributor Updates

Forum post: Gauntlet Weekly Market Update
Author: Gauntlet
Summary: Gauntlet posted a weekly update on Monday for the Moonwell markets covering the previous week.

  • Base: No assets had an average cap usage of over 75%. The deployment had 11 asset liquidations in the past week: mAERO ($395.73K), mWETH ($173.92K), mcbBTC ($148.65K), mcbETH ($66.78K), mwstETH ($32.28K), mVIRTUAL ($12.01K), mUSDC ($8.30K), mWELL ($6.08K), mrETH ($446.73), mwrsETH ($297.01), and mweETH ($96.39).
  • Optimism: Four assets had an average utilization of over 75%: USDC (83.20%), USDT (84.59%), DAI (89.68%), and WETH (90.06%). The deployment had eight asset liquidations in the past week: mWETH ($11.77K), mwstETH ($10.49K), mOP ($5.28K), mVELO ($1.33K), mwrsETH ($731.48), mrETH ($68.71), and mDAI ($1.97).
  • Moonbeam: No assets had an average utilization of over 75%. The deployment had five asset liquidations in the past week: mGLMR ($27.04K), mDOT ($11.78K), mETH.wh ($1.06K), mUSDC.wh ($779.98), and mFRAX ($227.38).
  • Moonriver: One asset had an average utilization of over 75%: FRAX (89.60%). The deployment had two asset liquidations in the past week: mMOVR ($1.84K) and mxcKSM ($405.25).

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, April 24th.