Weekly Governance Recaps

[Boardroom]

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.

[Boardroom]

Weekly Governance Update: Week of April 14th, 2025

One onchain proposal went up for a vote this week.

Proposals

MIP-M43 Switching Moonwell’s GLMR Market to using API3’s OEV Enabled Data Feed for GLMR

Summary: This proposal is a resubmission of MIP-M42, which sought to switch from Chainlink to API3’s OEV-enabled data feed for the GLMR Core Market on Moonbeam. If successful, API3 would distribute 80% of the OEV proceeds to Moonwell via the addReserves function. Although MIP-M42 was passed, it contained incorrectly configured calldata and it failed to execute. MIP-M43 was successful.

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 supply cap usage of over 75%: weETH (82.13%). The deployment had 14 asset liquidations in the past week: mWETH ($1.77M), mcbBTC ($306.15K), mcbETH ($232.49K), mUSDC ($100.59K), mAERO ($62.27K), mWELL ($40.22K), mrETH ($35.73K), mEURC ($11.35K), mwstETH ($8.26K), mVIRTUAL ($4.63K), mtBTC ($4.48K), mrwsETH ($134.52), mweETH ($48.65), and mDAI ($5.63).
• Optimism: Four assets had an average utilization of over 75%: USDC (82,75%), USDT (88.63%), DAI (84.15%), and WETH (90.09%). The deployment had seven asset liquidations in the past week: mVELO ($45.64K), mWETH ($5.31K), mwstETH ($2.09K), mOP ($1.37K), mweETH ($1.37K), mwrsETH ($121.39), and mrETH ($0.22).
• Moonbeam: No assets had an average utilization of over 75%. The deployment had six asset liquidations in the past week: mDOT ($22.62K), mGLMR ($9.43K), mETH.wh ($871.60), mWBTC.wh ($91.45), mxcUSDT ($37.72), and mFRAX ($0.33).
• Moonriver: One asset had an average utilization of over 75%: FRAX (86.31%). The deployment had two asset liquidations in the past week: mMOVR ($1.41K) and mxcKSM ($167.51).

…

Forum post: Gauntlet Monthly Recommendations

Author: Gauntlet

Summary: Thursday, Gauntlet offered their monthly recommendations on risk parameters across the four Moonwell deployments.

• Base: Collateral factors were increased for USDC, EURC, cbBTC, LBTC, and tBTC. Reserve factors were decreased for cbBTC, LBTC, tBTC, and EURC. Supply cap and borrow cap for tBTC were increased. IR parameters were recommended to be adjusted for USDC and WETH.
• Optimism: Collateral factors were increased for USDC and USDT. IR parameters were recommended to be adjusted for USDC, USDT, DAI, and WETH.
• Moonbeam: Borrow caps were decreased for WGLMR, xcUSDC, USDC.wh, FRAX, and WETH.wh. Collateral factors were decreased for FRAX, USDC.wh, WETH.wh, WGLMR, and xcUSDC.
• Moonriver: No changes were recommended.

Community & Integrations

Forum post: Add LsETH Market to Moonwell on Base

Author: Lukas_LC

Summary: Last week, LsETH was proposed by a community member to be added as a Moonwell Core Market. This week, Gauntlet advised against onboarding the asset as collateral due to liquidity concentration and other factors.

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.

[Boardroom]

Weekly Governance Update: Week of April 21st, 2025

One onchain proposal went up for a vote this week.

Proposals

MIP-X20: Gauntlet’s Monthly Recommendations

Summary: Last week, we covered Gauntlet’s latest slate of monthly recommendations. This week, the proposal moved to an onchain vote. It was successful.

Delegate Updates

Forum post: Add USDT0 market to Moonwell on OP Mainnet

Author: 0xMims

Summary: On Wednesday, Super Delegate 0xMims created a forum post outlining a proposal to add a USDT0 Core Market to Moonwell on Optimism. USDT0 is the multichain variant of Tether’s USDT, powered by LayerZero’s Omnichain Fungible Token (OFT) standard. Outlined in the post are general token information, decentralization, oracle assessment, risk assessment, and more.

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 supply cap usage of over 75%. The deployment had seven asset liquidations in the past week: mcbBTC ($61.46K), mAERO ($3.79K), mWETH ($985.73), mVIRTUAL ($840.82), mUSDC ($577.68), mwstETH ($557.11), and mcbETH ($313.93).
• Optimism: Four assets had an average utilization of over 75%: USDC (84.80%), USDT (80.25%), DAI (81.30%), and WETH (87.80%). The deployment had two asset liquidations in the past week: mOP ($141.41) and mwstETH ($0.10).
• Moonbeam: No assets had an average utilization of over 75%. The deployment had four asset liquidations in the past week: mFRAX ($221.43), mxcUSDC ($39.44), mGLMR ($16.52), and mDOT ($2.88).
• Moonriver: One asset had an average utilization of over 75%: FRAX (87.65%). The deployment had one asset liquidation in the past week: mMOVR ($2.08).

…

Forum post: Gauntlet - Cap Recommendations

Author: Gauntlet

Summary: Gauntlet announced they would use Cap Guardian to change caps throughout the week:

• MORPHO (Base) Supply Cap from 1M to 2M and Borrow Cap from 500K to 1M

Upcoming Events in Governance

Monthly Governance Call

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

[Boardroom]

Weekly Governance Update: Week of April 28th, 2025

One Snapshot went up for a vote this week.

Proposals

Add USDT0 market to Moonwell on OP Mainnet

Summary: After creating a forum post last week, Super Delegate 0xMims submitted the Snapshot proposal on Monday. It sought to add a Core Market for Tether’s USDT0 to Moonwell on Optimism Mainnet. It was successful. Shortly after it passed, Gauntlet recommended onboarding the asset and provided risk parameter recommendations.

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 supply cap usage of over 75%. The deployment had 11 asset liquidations in the past week: mUSDC ($50.74K), mEURC ($9.67K), mAERO ($8.43K), mWELL ($7.80K), mLBTC ($6.66K), mcbBTC ($3.81K), mVIRTUAL ($536.90), mWETH ($366.30), mwstETH ($55.81), mcbETH ($30.82), mrETH ($0.99).
• Optimism: Four assets had an average utilization of over 75%: USDC (84.05%), USDT (87.02%), DAI (79.37%), and WETH (86.98%). The deployment had four asset liquidations in the past week: mUSDC ($344.39), mWETH ($193.78), mrETH ($161.36), and mOP ($19.23).
• Moonbeam: No assets had an average utilization of over 75%. The deployment had five asset liquidations in the past week: mUSDC.wh ($9.16K), mFRAX ($2.34K), mGLMR ($1.90K), mDOT ($618.89), and mETH.wh ($3.71).
• Moonriver: One asset had an average utilization of over 75%: FRAX (93.08%). The deployment had two asset liquidations in the past week: mxcKSM ($72.22) and mMOVR ($0.22).

…

Forum post: Monthly Governance Report and Monthly Governance Calls

Author: Boardroom

Summary: Boardroom published April’s monthly governance report on the final day of the month, followed by a recap of April’s governance call (which is now available on YouTube!).

…

Forum post: Gauntlet - Cap Recommendations

Author: Gauntlet

Summary: Gauntlet announced they would use Cap Guardian to change caps throughout the week:

• wrsETH (Optimism) Supply Cap from 1300 to 200
• wrsETH (Base) Supply Cap from 800 to 20

Upcoming Events in Governance

Monthly Governance Call

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

[Boardroom]

Weekly Governance Update: Week of May 5th, 2025

Two onchain proposals went up for a vote this week.

Proposals

MIP-X21 Automated Liquidity Incentive Proposal

Summary: The regular monthly reward speed proposal went onchain on Thursday. It made changes to the following markets and included ~$113K in reserves to auction off.

• Base:
  • ETH: Decreased WELL Supply and Borrow APR
  • USDC: Increased WELL Supply APR
  • AERO: Increased 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: Decreased 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 APR; increased OP Supply APR
  • USDT: Decreased WELL Supply APR; decreased OP Supply APR
  • DAI: Decreased WELL Supply APR; increased OP Supply APR
  • ETH: Increased WELL Supply APR; increased OP Supply APR
  • wstETH: Increased WELL Supply APR; increased OP Supply APR
  • rETH: Increased WELL Supply APR; increased OP Supply APR
  • OP: Decreased WELL Supply APR; increased OP Supply APR
  • weETH: Decreased WELL Supply APR; increased OP Supply APR
  • VELO: Decreased WELL Supply APR; increased OP Supply APR
  • wrsETH: Decreased WELL Supply APR; increased OP Supply APR
• Moonbeam:
  • GLMR: Decreased WELL Supply and Borrow APR; increased GLMR Supply and Borrow APR
  • DOT: Decreased 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:
  • AERO (Base): $87,014.84
  • DAI (Optimism): $378.95
  • wstETH (Optimism): $15,538.69
  • rETH (Optimism): $1,817.81
  • OP (Optimism): $2,576.04
  • VELO (Optimism): $5,217.68
  • wrsETH (Optimism): $1,222.70

MIP-O14 Add USDT0 Market to Moonwell on Optimism

Summary: After a successful Snapshot, the proposal to add a USDT0 Core Market to Moonwell on Optimism went live on Thursday. It was successful.

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: One asset had an average supply cap usage of over 75%: wrsETH (150.09%). The deployment had eight asset liquidations in the past week: mcbBTC ($82.16K), mAERO ($7.27K), mwstETH ($5.76K), mrETH ($5.17K), mVIRTUAL ($4.37K), mWELL ($3.88K), mUSDC ($3.50K), and mWETH ($109.52), mwstETH ($55.81), mcbETH ($30.82), mrETH ($0.99).
• Optimism: Four assets had an average utilization of over 75%: USDC (87.03%), USDT (86.92%), DAI (83.68%), and WETH (87.08%). The deployment had two asset liquidations in the past week: mVELO ($175.66) and mrETH ($169.02).
• Moonbeam: No assets had an average utilization of over 75%. The deployment had one asset liquidation in the past week: mGLMR ($71.07).
• Moonriver: One asset had an average utilization of over 75%: FRAX (93.64%). The deployment had one asset liquidation in the past week: mMOVR ($3.35).

…

Forum post: Gauntlet - Cap Recommendations
Author: Gauntlet
Summary: Gauntlet announced they would use Cap Guardian to change caps throughout the week:

• WETH (Optimism) Supply Cap from 12K to 16K and Borrow Cap from 11K to 15K.

Upcoming Events in Governance

Monthly Governance Call

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

[Boardroom]

Weekly Governance Update: Week of May 12th, 2025

No governance proposals went up for a vote this week.

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: Two assets had an average supply cap usage of over 75%: MORPHO (99.98%) and wrsETH (147.83%). The deployment had 11 asset liquidations in the past week: mcbBTC ($80.56K), mcbETH ($28.45K), mUSDC ($22.62K), mAERO ($21.67K), mEURC ($17.59K), mWETH ($3.40K), mVIRTUAL ($1.66K), mLBTC ($1.34K), mMORPHO ($780.74), mwstETH ($124.89), and mWELL ($50.83).
• Optimism: Four assets had an average utilization of over 75%: USDC (89.63%), USDT (81.06%), DAI (84.46%), and WETH (87.13%). The deployment had five asset liquidations in the past week: mUSDC ($5.40K), mWETH ($4.76K), mUSDT ($1.42K), mOP ($70.68), and mVELO ($43.71).
• Moonbeam: No assets had an average utilization of over 75%. The deployment had four asset liquidations in the past week: mGLMR ($131.23), mDOT ($5.64, mUSDC.wh ($1.76), and mFRAX ($0.34).
• Moonriver: One asset had an average utilization of over 75%: FRAX (93.69%). The deployment had one asset liquidation in the past week: mMOVR ($7.09).

…

Forum post: New Coinbase Collateral Assets

Author: Luke Youngblood

Summary: Moonwell contributor Luke took to the forums on Wednesday to announce that four new blue chip collateral assets will be supported by Coinbase: cbXRP (Coinbase wrapped XRP/Ripple), cbDOGE (Coinbase wrapped DOGE), cbADA (Coinbase wrapped ADA/Cardano), and cbLTC (Coinbase wrapped LTC/Litecoin). Like cbBTC, he mentioned that they represent an opportunity for Moonwell support assets that have Coinbase’s unique blend of security and fungibility properties.

…

Forum post: Gauntlet Monthly Recommendations

Author: Gauntlet

Summary: Wednesday, Gauntlet offered their monthly recommendations on risk parameters across the four Moonwell deployments.

• Base: Collateral factor was decreased for rETH. Reserve factor was increased for MORPHO. Supply Caps for wrsETH and MORPHO were increased. IR parameters were recommended to be adjusted for USDC, cbBTC, LBTC, tBTC, and VIRTUAL.
• Optimism: Supply Cap for wrsETH was increased. IR parameters were recommended to be adjusted for USDC, USDT, and DAI.
• Moonbeam: Borrow caps were decreased for WGLMR, xcUSDC, USDC.wh, and FRAX. Collateral factors were decreased for FRAX, USDC.wh, WBTC.wh, WGLMR, xcUSDC, and xcUSDT.
• Moonriver: Borrow caps were decreased for FRAX and WMOVR.

…

Forum post: Gauntlet - Cap Recommendations

Author: Gauntlet

Summary: Gauntlet announced they would use Cap Guardian to change caps throughout the week:

• USDT0 (Optimism) Supply Cap from 1M to 5M and Borrow Cap from 900K to 4.5M.

Community & Integrations

Forum post: Anthias Labs to Join Moonwell as Risk Partner on Base Markets

Author: AnthiasLabs

Summary: On Thursday, Anthias Labs proposed to serve as a risk partner for Moonwell’s Base markets. Anthias Labs is an onchain advisory firm focused on DeFi risk management and system design; their listed partners include Felix Protocol, Arbitrum DAO, and Uniswap. They shared hypothetical risk recommendations for Moonwell for April. They are requesting $25,000/month.

Upcoming Events in Governance

Monthly Governance Call

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

[Boardroom]

Weekly Governance Update: Week of May 19th, 2025

One onchain proposal and one Snapshot went up for a vote this week.

Proposals

Anthias Labs to Join Moonwell as Risk Partner on Base Markets

Summary: Last week, Anthias Labs proposed to serve as a risk partner for Moonwell’s Base markets. This week, on Monday, the proposal was submitted for a Snapshot vote. It was successful.

MIP-X22: Gauntlet’s Monthly Recommendations

Summary: Last week, we covered Gauntlet’s latest slate of monthly recommendations. The proposal went up for an onchain vote on Tuesday. It was successful.

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: The deployment had 10 asset liquidations in the past week: mwstETH ($228.87K), mAERO ($79.53K), mcbBTC ($15.69K), mEURC ($9.33K), mcbETH ($5.04K), mUSDC ($593.17), mVIRTUAL ($480.42), mWETH ($274.21), mWELL ($231.10), mUSDS ($13.70).
• Optimism: Four assets had an average utilization of over 75%: USDC (88.99%), USDT (84.94%), DAI (86.51%), and WETH (88.83%). The deployment had four asset liquidations in the past week: mUSDT0 ($1.77K), mOP ($978.20), mWETH, ($271.10), and mweETH ($0.19).
• Moonbeam: No assets had an average utilization of over 75%. The deployment had one asset liquidation in the past week: mUSDC.wh ($1.52).
• Moonriver: One asset had an average utilization of over 75%: FRAX (79.51%). The deployment had one asset liquidation in the past week: mMOVR ($1.68K).

…

Forum post: Gauntlet - Cap Recommendations

Author: Gauntlet

Summary: Gauntlet announced they would use Cap Guardian to change caps throughout the week:

• USDT0 (Optimism) Supply Cap from 5M to 15M and Borrow Cap from 4.5M to 13.5M
• USDT0 (Optimism) Supply Cap from 15M to 45M and Borrow Cap from 4.5M to 13.5M
• All assets (Moonbeam and Moonriver) Borrow Cap to 0.1.
• WETH (Optimism) Supply Cap from 16K to 32K and Borrow Cap 15K to 30K.

Upcoming Events in Governance

Monthly Governance Call

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

[Boardroom]

Weekly Governance Update: Week of May 26th, 2025

No proposals went up for a vote this week.

Contributor Updates

Forum post: Gauntlet Weekly Market Update

Author: Gauntlet

Summary: Gauntlet posted a weekly update on Tuesday for the Moonwell markets covering the previous week.

• Base: No assets had an average cap usage of over 75%. The deployment had seven asset liquidations in the past week: mAERO ($49.32K), mWETH ($33.01K), mWELL ($28.95K), mcbBTC ($5.18K), mUSDC ($4.17K), mVIRTUAL ($2.73K), and mEURC ($200.75).
• Optimism: Four assets had an average utilization of over 75%: USDC (76.88%), USDT (86.06%), DAI (81.27%), and WETH (89.97%). The deployment had five asset liquidations in the past week: mwrsETH ($12.55K), mWETH ($7.08K), mUSDT0 ($760.47), mVELO ($75.42), and mOP ($62.36).
• Moonbeam: No assets had an average utilization of over 75%. The deployment had six asset liquidations in the past week: mFRAX ($1.00K), mGLMR ($917.80), mxcUSDT ($546.78), mWBTC.wh ($33.76), mUSDC.wh ($25.87), and mDOT ($2.14).
• Moonriver: No assets had an average utilization of over 75%. The deployment had two asset liquidations in the past week: mMOVR ($1.92K) and mFRAX ($261.03).

…

Forum post: Monthly Governance Report and Monthly Governance Call Recap

Author: Boardroom

Summary: Boardroom hosted May’s governance call on Thursday. You can watch the recording of the call here or read about it here. On the final day of the month, Boardroom also posted May’s governance report.

Community & Integrations

Forum post: Add cUSDO Market to Moonwell on Base

Author: multisigGov

Summary: On Wednesday, a community member proposed the addition of OpenEden’s yield-bearing stablecoin, cUSDO, as a new Core Market on Base.

…

Forum post: Should we list Mamo?

Author: surfingdegen

Summary: Early in the week, surfingdegen floated the idea of listing the Mamo agent token, MAMO, on Moonwell.

Upcoming Events in Governance

Monthly Governance Call

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

[Boardroom]

Weekly Governance Update: Week of June 2nd, 2025

One onchain proposal and two Snapshot proposals went up for a vote this week.

Proposals

MIP-X23 Automated Liquidity Incentive Proposal

Summary: The regular monthly reward speed proposal went onchain on Thursday. It made changes to the following markets and included ~$204K in reserves to auction off.

• 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: 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
• Optimism:
  • USDC: Increased WELL Supply APR; decreased OP Supply APR
  • USDT: Decreased WELL Supply APR; decreased OP Supply APR
  • DAI: Decreased WELL Supply APR; decreased OP Supply APR
  • ETH: Increased WELL Supply APR; decreased OP Supply APR
  • wstETH: Increased WELL Supply APR; decreased OP Supply APR
  • rETH: Increased WELL Supply APR; decreased 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 APR; decreased OP Supply APR
  • wrsETH: Decreased WELL Supply APR; decreased OP Supply APR
  • USDT0: Increased WELL Supply APR; increased OP Supply APR
• Moonbeam:
  • GLMR: Decreased WELL Supply and Borrow APR; increased GLMR Supply and Borrow APR
  • DOT: Decreased WELL Supply APR; increased GLMR Supply APR
  • FRAX: Decreased 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: Decreased WELL Supply and Borrow APR; decreased GLMR Supply and Borrow APR

Add cbXRP Market to Moonwell on Base

Summary: On Thursday, Super Delegate Coolhorsegirl created a forum post outlining the potential addition of a cbXRP Core Market to Moonwell on Base. cbXRP is Coinbase Wrapped XRP, a fully‑collateralized ERC‑20 representation of XRP that is minted and redeemed 1‑for‑1 through Coinbase. For more information, including market risk and other factors, see the forum post above.

Add cbDOGE Market to Moonwell on Base

Summary: Similar to the cbXRP post, this proposal from Coolhorsegirl sought feedback on the potential addition of a cbDOGE Core Market to Moonwell on Base. Later that day, Gauntlet posted their recommendations for onboarding the asset as collateral.

Contributor Updates

Forum post: Rolling over to the new Pendle PT-LBTC pool (25 September 2025 expiry)

Author: BlockAnalitica

Summary: Monday, BlockAnalitica created a proposal which sought to introduce a new Pendle LBTC pool on Base to borrowers utilizing PT-LBTC tokens as collateral on Morpho. The previous pool reached its expiry date. The new Morpho market’s parameters were proposed in the post.

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Forum post: [Anthias Labs] - Minimum Reserves Recommendations

Author: AnthiasLabs

Summary: On Monday, Anthias Labs posted a report including recommendations for setting June’s minimum reserves in Moonwell’s Base Core Markets. The team will deliver monthly updates and proposals to optimize reserve levels, ensuring the protocol remains safe in the face of bad debt.

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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 asset had an average supply cap usage of over 75%. The deployment had 11 asset liquidations in the past week: mLBTC ($791.01K), mAERO ($42.94K), mUSDC ($36.34K), mWETH ($25.31K), mVIRTUAL ($10.46K), mcbBTC ($3.04K), mwstETH ($1.15K), mtBTC ($223.12), mWELL ($161.98), mEURC ($45.74), and mrETH ($4.99).
• Optimism: One asset had an average utilization of over 75%: WETH (90.32%). The deployment had four asset liquidations in the past week: mVELO ($20.66K), mWETH ($5.04K), mUSDT0 ($2.07K), and mOP ($450.45).
• Moonbeam: One asset had an average utilization of over 75%: USDC.wh ($107.81). The deployment had seven asset liquidations in the past week: mDOT ($5.97K), mGLMR ($1.68K), mxcUSDC ($1.50K), mUSDC.wh ($660.82), mFRAX ($32.94), and mWBTC.wh ($4.01).
• Moonriver: One asset had an average utilization of over 75%: FRAX (75.26%). The deployment had three asset liquidations in the past week: mFRAX ($2.33K), mMOVR ($1.86K), and mxcKSM ($1.74K).

…

Forum post: Gauntlet - Cap Recommendations

Author: Gauntlet

Summary: Gauntlet announced they would use Cap Guardian to change caps throughout the week:

• OP (Optimism) Supply Cap from 2.8M to 5.6M

…

Forum post: Switching all Moonbeam Markets to using API3’s Data Feeds to Maximize OEV Recapture

Author: dav3

Summary: Earlier this year, API3 proposed switching data feeds for Moonwell’s GLMR Core Market to API3’s OEV solution. In mid-April, its onchain proposal was successful and the Market’s data feed was switched (complete with an OEV dashboard). This proposal seeks to switch to using API3’s OEV data feeds for all Moonbeam Core Markets. dav3 notes that this proposal does not compete with The Solidity Labs onchain OEV solution currently used on other deployments. API3 will continue distributing 80% of the OEV proceeds to Moonwell, via the addReserves function on the GLMR core market on Moonbeam

Community & Integrations

Forum post: Proposal: Add alETH as a Collateral Asset on OP Mainnet

Author: Oranges

Summary: On Thursday, first-time poster Oranges created a forum discussion on adding an alETH Core Market on Optimism. alETH is a synthetic asset that represents an Alchemix user’s debt position.

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, June 26th.

[Boardroom]

Weekly Governance Update: Week of June 9th, 2025

Two Snapshots and two onchain proposals went up for a vote this week.

Proposals

Switching all Moonbeam Markets to using API3’s Data Feeds to Maximize OEV Recapture

Summary: Last week, we covered @dav3’s proposal to switch to using API3’s OEV data feeds for all Moonbeam Core Markets. On Monday, the proposal progressed to a Snapshot vote. It was successful.

MIP-B43: Add cbXRP to Base Core Markets

Summary: Last week, the Snapshot proposal to add a cbXRP Core Market to Moonwell on Base successfully passed a Snapshot vote. On Thursday, it progressed to an onchain vote.

MIP-B44: Renewal of Moonwell Vaults Incentives Program

Summary: On Friday, Block Analitica submitted an onchain proposal that sought to renew the Moonwell Morpho Vaults incentives program for an additional 90-day period, requesting a grant of 10M WELL tokens. The grant will be allocated across the USDC, ETH, EURC, and cbBTC vaults (50%, 24%, 13%, and 13%, respectively) to optimize liquidity and address market demand.

Add cUSDO (OpenEden) market to Moonwell on Base

Summary: cUSDO is a non-rebasing, yield-bearing stablecoin issued by OpenEden, backed 1:1 by U.S. Treasury Bills.

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 supply cap usage of over 75%. The deployment had 10 asset liquidations in the past week: mWETH ($383.85K), mcbBTC ($118.91K), mWELL ($14.91K), mAERO ($7.10K), mVIRTUAL ($6.49K), mUSDC ($3.14K), mwstETH ($1.09K), mEURC ($544.87), mLBTC ($408.54), and mcbETH ($12.00).
• Optimism: Three assets had an average utilization of over 75%: USDT (79.43%), DAI (79.97%), and WETH (87.09%). The deployment had five asset liquidations in the past week: mWETH ($87.58K), mUSDT0 ($1.95K), mVELO ($1.46K), mOP ($572.41), and mUSDC ($23.26).
• Moonbeam: No assets had an average utilization of over 75%. The deployment had two asset liquidations in the past week: mFRAX ($152.30) and mDOT ($1.52).
• Moonriver: No assets had an average utilization of over 75%. The deployment had one asset liquidation in the past week: mMOVR ($146.97).

…

Forum post: Anthias Labs - Initial Parameter Recommendations for cbDOGE and cbXRP

Author: AnthiasLabs

Summary: Shortly after the Snapshot proposals were successfully passed to add cbDOGE and cbXRP markets to Moonwell on Base, Anthias Labs offered initial parameter recommendations for onboarding the assets as collateral. The team also provided an onchain liquidity update for cbXRP.

…

Forum post: [Anthias Labs] - Risk Parameter Recommendations (6/11/2025)

Author: AnthiasLabs

Summary: Anthias Labs shared their first monthly recommendations for the Base Core Markets on Wednesday. They addressed the volatility in the USDC interest rates in early June, recommending a bump to its multiplier.

…

Forum post: Gauntlet Monthly Recommendations

Summary: Wednesday, Gauntlet offered their monthly recommendations on risk parameters across the four Moonwell deployments.

• Base: Reserve factors were increased for cbBTC, LBTC, and tBTC. IR parameters were recommended to be adjusted for WETH, cbBTC, LBTC, tBTC, and AERO.
• Optimism: Supply Cap and Borrow Cap for USDT0 were decreased, while weETH’s Supply Cap and Borrow Caps were increased. IR parameters were recommended to be adjusted for USDC, USDT0, and WETH.
• Moonbeam: Collateral Factors were decreased for FRAX, USDC.wh, WETH.wh, WGLMR, xcUSDC, and xcUSDT.
• Moonriver: No changes were recommended.

…

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, June 26th.

[Boardroom]

Weekly Governance Update: Week of June 16th, 2025

One onchain proposal went up for a vote this week.

Proposals

MIP-X24: Gauntlet’s Monthly Recommendations

Summary: Last week, we reported on Gauntlet’s monthly risk parameter recommendations forum post. This week, it went up for an onchain vote. The proposal was successful.

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: mUSDC ($518.33K), mcbBTC ($71.69K), mAERO ($25.36K), mWELL ($10.14K), mLBTC ($3.21K), mtBTC ($1.05K), mWETH ($313.83), mVIRTUAL ($141.90), mwstETH ($116.87), mEURC ($27.93), and mweETH ($4.60).
• Optimism: Four assets had an average utilization of over 75%: USDC (78.11%), USDT (90.14%), DAI (76.49%), and WETH (87.49%). The deployment had five asset liquidations in the past week: mWETH ($409.56), mOP ($167.70), mVELO ($8.95), mUSDC ($6.52), and mUSDT0 ($2.86).
• Moonbeam: No assets had an average utilization of over 75%. The deployment had four asset liquidations in the past week: mDOT ($3.66K), mxcUSDT ($197.92), mGLMR ($115.75), and mFRAX ($9.14).
• Moonriver: One asset had an average utilization of over 75%: FRAX (91.14%). The deployment had three asset liquidations in the past week: mFRAX ($2.33K), mMOVR ($1.86K), and mxcKSM ($1.74K).

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, June 26th.

[Boardroom]

Weekly Governance Update: Week of June 23rd, 2025

One onchain proposal went up for a vote this week.

Proposals

MIP-X25: Change Borrow & Supply Cap Guardian to Anthias Labs

Summary: Following Gauntlet’s forum post on Tuesday, this proposal sought to transfer the Borrow & Supply Cap Guardian role for all Moonwell deployments from Gauntlet to Anthias Labs. No other protocol parameters were modified.

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 supply cap usage of over 75%. The deployment had 11 asset liquidations in the past week: mUSDC ($144.24K), mAERO ($133.31K), mcbBTC ($42.47K), mWETH ($20.88K), mWELL ($3.93K), mVIRTUAL ($2.83K), mcbETH ($2.73K), mLBTC ($157.10), mMORPHO ($54.78), mwstETH ($45.58), and mweETH ($2.86).
• Optimism: Four assets had an average utilization of over 75%: USDC (80.74%), USDT (89.76%), DAI (77.21%), and WETH (86.39%). The deployment had six asset liquidations in the past week: mwstETH ($124.56K), mWETH ($3.61K), mOP ($2.44K), mUSDT0 ($2.04K), mVELO ($1.02K), and mUSDC ($5.66).
• Moonbeam: No assets had an average utilization of over 75%. The deployment had eight asset liquidations in the past week: mGLMR ($54.85K), mDOT ($28.65K), mxcUSDT ($1.45K), mxcUSDC ($731.23), mFRAX ($705.62), mUSDC.wh ($430.76), mWBTC.wh ($152.17), and mETH.wh ($22.58).
• Moonriver: No assets had an average utilization of over 75%. The deployment had one asset liquidation in the past week: mMOVR ($1.11).

On Tuesday, Gauntlet announced that their risk-management contract concluded on June 30th, 2025. They proposed transitioning Cap Guardian and Security Council responsibilities to Anthias.

…

Forum post: Monthly Governance Calls

Author: Boardroom

Summary: Boardroom hosted June’s governance call on Thursday. Head over to the forum post to see a written summary of the call or to watch the full recording.

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, June 26th.

[Boardroom]

Weekly Governance Update: Week of June 30th, 2025

Two Snapshots and two onchain proposals went up for a vote this week.

Proposals

Nomination: Ana for Moonwell Security Council (Replacing Elliot)

Summary: Following a successful Snapshot in March, this proposal sought to replace Elliot Friedman with Ana Bittencourt on the Moonwell Security Council. Ana is a Solidity engineer working full-time on Moonwell with Lunar Labs.

Nomination: Anthias for Moonwell Security Council (Replacing Gauntlet)

Summary: After Gauntlet’s contract ended and Anthias was onboarded as risk partners for Moonwell, 0xMims submitted this proposal to update the Security Council by removing Gauntlet and adding Anthias.

MIP-R31: Change Borrow Guardian (Moonriver) to Anthias Labs

Summary: After last week’s successful proposal to change the Borrow and Supply Cap Guardian to Anthias Labs, MIP-R31 sought to similarly appoint Anthias Labs as the Borrow Cap Guardian for Moonwell’s Moonriver Core Markets.

MIP-X26 Automated Liquidity Incentive Proposal

Summary: The regular monthly reward speed proposal went onchain on Thursday. It made changes to the following markets and included ~$307K in reserves to auction off.

• Base:
  • ETH: Decreased WELL Supply and Borrow APR
  • USDC: Decreased WELL Supply APR
  • AERO: Increased WELL Supply and Borrow APR
  • cbBTC: Increased WELL Supply and Borrow APR
  • EURC: Increased WELL Supply and Borrow APR
  • WELL: Increased WELL Supply and Borrow APR
  • tBTC: Increased WELL Supply and Borrow APR
  • LBTC: Increased WELL Supply and Borrow APR
  • VIRTUAL: Increased WELL Supply and Borrow APR
  • MORPHO: Increased WELL Supply and Borrow APR
  • cbXRP: Increased WELL Supply and Borrow APR
• Optimism:
  • USDC: No change
  • USDT: Increased WELL Supply APR; increased OP Supply APR
  • DAI: Decreased WELL Supply APR; decreased OP Supply APR
  • ETH: Decreased WELL Supply 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: Decreased WELL Supply APR; increased OP Supply APR
  • wrsETH: Increased 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: Decreased 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

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 AERO borrows and a decrease in VIRTUAL, WETH, WELL, and wstETH borrows. MORPHO and WELL supply both increased by over 40%. There was $41,962.43 in liquidations across 44 liquidation events.
• OP Mainnet: Notable changes this week include a sharp drop in weETH borrows (~66% decrease) and a significant reduction in USDT0 supply (~31% decrease). DAI utilization crossed 90% kink, and no liquidation events occurred on OP Mainnet this week.
• Moonbeam: Moonbeam’s core markets saw minimal week-over-week changes, aside from a ~12% increase in FRAX supply. There was only $41.58 in liquidations across 2 events.
• Moonriver: Moonriver had virtually no week-over-week changes in supply or borrow levels. Likewise, no liquidation events occurred on Moonriver this week.

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, July 31st.

[Boardroom]

Weekly Governance Update: Week of July 7th, 2025

One onchain proposal went up for a vote this week.

Proposals

Switching all Moonbeam Markets to using API3’s Data Feeds to Maximize OEV Recapture

Summary: Last month, API3 submitted a successful Snapshot proposal which outlined the same objectives as this onchain proposal: switching to using API3’s OEV data feeds for all Moonbeam Core Markets. This comes after API3 proposed switching data feeds for Moonwell’s GLMR Core Market to API3’s OEV solution. In mid-April, its onchain proposal was successful and the Market’s data feed was switched (complete with an OEV dashboard).

Contributor Updates

Forum post: [Anthias Labs] - Risk Parameter Recommendations (7/9/2025)

Author: Anthias

Summary: Anthias Labs shared their monthly risk parameter recommendations for Moonwell’s Core Markets on Wednesday.

• Base: Anthias recommended an increase in cbXRP’s Collateral Factor from 70% to 74% and an increase in MORPHO Supply Cap from 4M to 6M.
• OP Mainnet: The main notable change on OP Mainnet included an update to DAI’s IR parameters (an increase in the Multiplier).
• Moonbeam: Anthias noted support for Gauntlet’s risk-off approach for Moonbeam Core Markets, incrementally lowering Collateral Factors for all assets. No further changes were immediately necessary.
• Moonriver: There were no parameter recommendations for Moonriver.

…

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: Notable changes include a 51% jump in WELL borrows (from 16.4M to 24.82M) and a 92% rise in wstETH borrows (90.15 to 172.88). cbXRP supply also surged 52% (287K to 436K) while weETH supply decreased ~72% (1.99K to 560). In total, there were $202,509.72 in liquidations across 71 events on Base this week.
• OP Mainnet: The Optimism Mainnet markets saw a 76% spike in USDT borrows and a 63% rise in USDT supply. USDT0 supply fell roughly 31% (2.54M to 1.76M). There were 6 liquidation events totaling $17,425.71.
• Moonbeam: Moonbeam’s Core Markets were largely unchanged. Most notably, FRAX supply fell about 10% (from 56.3K to 50.5K). There were 2 liquidation events totaling $38.59 on Moonbeam (both liquidations were GLMR).
• Moonriver: Moonriver saw minimal movement, with xcKSM borrows down 20% (8.43K to 6.78K) and FRAX supply down 9%. No liquidation events occurred on Moonriver this week.

…

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, July 31st.

[Boardroom]

Weekly Governance Update: Week of July 14th, 2025

No proposals went up for a vote this week.

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: Notable week-over-week changes include a 46% surge in cbXRP borrows (from ~108.9K to 159.0K, with supply up 35% to ~579.3K), as well as a ~65% decrease in weETH supply. There were $129,994.06 in liquidations across 105 events on Base.
• OP Mainnet: The Optimism Mainnet markets saw significant stablecoin activity, with DAI borrows nearly doubling (~98% increase to ~507.3K DAI, supply up 80% to ~556.1K) and USDT borrows up ~49% (to ~380.3K, supply up 39%). DAI utilization crossed 90% (peaking around 91%), while WETH borrows fell by roughly one-third (~32% decrease to 7.11K WETH). There were 9 liquidation events totaling $23,455.97 on OP Mainnet this week.
• Moonbeam: Moonbeam’s core markets saw little change overall, aside from a ~26% drop in FRAX supply (from ~56.4K to 41.7K). There was only $237.29 in liquidations across 9 events on Moonbeam.
• Moonriver: Moonriver had virtually no week-over-week changes in supply or borrow levels. Likewise, no liquidation events occurred on Moonriver this week.

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, July 31st.

[Boardroom]

Weekly Governance Update: Week of July 21st, 2025

One onchain proposal went up for a vote this week.

Proposals

MIP-X27: Anthias Labs Monthly Recommendations (07/2025)

Summary: In our update for the week of July 7th, we covered Anthias Labs’ monthly risk recommendations forum post. This week, the proposal was submitted for an onchain vote. It was successful.

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 a jump in the supply of cbXRP (up ~39%) and weETH (+206%) and an increase in WETH borrows (+24%). There was $202,689.34 in liquidations across 96 liquidation events.
• OP Mainnet: Notable changes this week include decreased stablecoin activity: USDT borrows decreased ~33% and supply decreased ~26%. On the other hand, WETH borrows and supply increased by ~47% and ~52%, respectively. There was $32,742.00 in liquidations across 17 events on OP Mainnet this week.
• Moonbeam: Moonbeam’s core markets most notably saw supply decreases in stablecoins (xcUSDC decreased ~37% and xcUSDT decreased ~35%). There was only $167.85 in liquidations across 77 events.
• Moonriver: Moonriver had very little week-over-week changes in supply or borrow levels. Likewise, no liquidation events occurred on Moonriver this week.

…

Forum post: [Anthias Labs] - Minimum Reserves Recommendations (7/23/2025)

Author: AnthiasLabs

Summary: On Wednesday, Anthias offered recommendations for July’s minimum reserves on Moonwell’s Core markets on Base and OP Mainnet. The team will continue to refine the minimum reserves framework and monitor reserve levels monthly.

…

Forum post: [Anthias Labs] - Increase WELL and cbXRP supply caps on Base

Author: AnthiasLabs

Summary: Anthias announced they would use Cap Guardian to change caps throughout the week:

• WELL (Base) Supply Cap from 150M to 220M
• cbXRP (BasE) Supply Cap from 1M to 2M

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, July 31st.

[Boardroom]

Weekly Governance Update: Week of July 28th, 2025

No proposals went up for a vote this week; July’s governance call was held on Thursday.

Contributor Updates

Forum post: Code of Conduct Updates and Conflict of Interests

Author: 0xMims

Summary: Thursday, 0xMims created a forum post outlining a proposal that sought to enact two key DAO reforms: (1) adding enforceable punitive measures to the Code of Conduct; and (2) requiring transparent conflict of interest (COI) disclosures for all voting delegates.

…

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: Stand-outs this week were a jump in wstETH, cbETH, and weETH borrows (135%, 51%, and 49% respectively), while USDS borrows and supply both fell (40% and 33%, respectively). Total liquidations climbed to $86,191.09 across 84 events, led by AERO-collateral positions.
• OP Mainnet: WETH supply slid 35% and rETH borrows fell 59%, but OP borrows grew 44%. Utilization on most stablecoin markets stayed near 90% and only $402.32 in liquidations occurred over 5 events.
• Moonbeam: Activity remained muted except for a spike in BTC.wh borrows; GLMR supply inched up 7%. Liquidations totaled just $124.33 across 16 events.
• Moonriver: Markets were effectively flat with sub-1 % changes in xcKSM, FRAX and MOVR; no liquidation events were recorded this week.

…

Forum post: Boardroom Delegation & Super Delegate Specialties

Author: Boardroom

Summary: Boardroom announced the start of a delegation initiative this week in which 3.4M WELL tokens will be used to delegate to a handful of high-impact delegates. Coinciding with this delegation initiative, Boardroom worked with Moonwell contributors to identify five Super Delegate “specialties” which will guide the team’s delegation efforts. These profiles are the most important areas of expertise that Super Delegates could offer to the protocol and its wider ecosystem. There is no application required for this initiative.

…

Forum post: Monthly Governance Reports

Author: Boardroom

Summary: Boardroom posted the monthly governance report for July on Thursday. Read the report to obtain a high-level overview of proposals created, voting metrics, and other initiatives for the month of July.

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, August 28th.

[Boardroom]

Weekly Governance Update: Week of August 4th, 2025

One onchain proposal went up for a vote this week.

Proposals

MIP-X28 Automated Liquidity Incentive Proposal

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

• Base:
  • ETH: Increased WELL Supply and Borrow APR
  • USDC: Decreased WELL Supply APR
  • AERO: Increased WELL Supply and Borrow APR
  • cbBTC: Increased WELL Supply and Borrow APR
  • EURC: Decreased WELL Supply and Borrow APR
  • WELL: Increased 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: Increased WELL Supply and Borrow APR
  • cbXRP: Increased WELL Supply and Borrow APR
• Optimism Mainnet:
  • USDC: Increased 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; decreased OP Supply ARR
  • 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 APR; decreased OP Supply APR
  • wrsETH: Increased WELL Supply APR; increased OP Supply APR
  • USDT0: Decreased WELL Supply APR; decreased OP Supply APR
• Moonbeam:
  • GLMR: Decreased WELL Supply and Borrow APR; increased GLMR Supply and Borrow APR
  • DOT: Decreased 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

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: Notable week-over-week moves included a 32% increase in cbXRP supply (1.00M → 1.32M), a 47% increase in MORPHO supply (4.09M → 6.00M), and a 45% decrease in wstETH borrows (208.17 → 113.57). There was $166,535.77 in liquidations across 76 events.
• OP Mainnet: Stablecoin activity accelerated (DAI borrows +73%, supply +57%; USDT borrows +86%, supply +64%), with DAI utilization rising to ~90.77%. There was $24,941.26 in liquidations across 9 events.
• Moonbeam: Markets were mostly steady (e.g., GLMR borrow rose +1% while supply fell -3% week over week. There was only $37.31 in liquidations across 10 events.
• Moonriver: Virtually no week-over-week changes in supply or borrow levels. No liquidation events occurred on Moonriver this week.

…

Forum post: [Anthias Labs] - Risk Parameter Recommendations

Author: Anthias

Summary: Anthias Labs shared their monthly risk parameter recommendations for Moonwell’s Core Markets on Tuesday.

• Base: Anthias recommended an increase in cbXRP’s Supply Cap and Borrow Cap (2M to 3M and 500K to 1.6M, respectively) and a decrease in cbXRP’s Reserve Factor (30% to 20%). They also included changes to the IR parameters of USDC and cbXRP
• OP Mainnet: The main notable change on OP Mainnet included an update to DAI’s and USDT0’s IR parameters (an increase in both Multipliers).
• Moonbeam: There were no parameter recommendations for Moonbeam.
• Moonriver: There were no parameter recommendations for Moonriver.

…

Community & Integrations

Forum post: Strengthening Moonwell with Real Assets: BTC & ETH Treasury Accumulation

Author: WellMaxi

Summary: Kicking off the week with a forum discussion, a Moonwell community member followed up with an idea he’d brought up during the latest Governance Call. The idea centered around using protocol revenue to not only buy back WELL, but expand into a basket of WELL, BTC, and ETH.

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, August 28th.

[Boardroom]

Weekly Governance Update: Week of August 11th, 2025

One onchain proposal went up for a vote this week.

Proposals

MIP-X29: Anthias Labs Monthly Recommendations (08/2025)

Summary: In our update for the week of August 4th, we covered Anthias Labs’ monthly risk recommendations forum post. This week, the proposal was submitted for an onchain vote. It was successful.

Contributor Updates

Forum post: Pre-Bug Remediation Rewards for the Base Safety Module

Author: 0xMims

Summary: Recently, the Base Safety Module experienced a minor bug that led to a small number of users claiming MIP-X28’s full reward budget, resulting in an estimated loss of ~$285K in WELL. In this forum post, Moonwell contributors propose making affected users whole for the rewards they were owed before the bug was triggered. A snapshot, verification data, and the list of addresses that claimed excessive rewards will be published before setting up the claim process. Next steps include getting DAO approval for a WELL grant from the Moonwell Foundation (Snapshot & onchain vote), streaming rewards to affected users via Sablier or Angle Protocol (with claim costs covered by the DAO), and continued work with Halborn to ensure this issue cannot reoccur.

…

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 sharp increases in cbETH (+144%), rETH (+68%), and wstETH (+36%) borrows, while USDC borrows and supply each fell ~26% and tBTC borrows dropped ~57%. There was $2,595,641.02 in liquidations across 193 events.
• OP Mainnet: Notable changes this week include OP borrows jumping +129%, while USDT0 and wstETH borrows declined ~32% and ~30%, respectively; DAI utilization moved to ~92%. Liquidations totaled $2,290.98 across 28 events.
• Moonbeam: Moonbeam’s markets were mostly flat; xcUSDC borrows decreased ~7%, GLMR borrows edged up ~1%, and most others were within ±2%. There was $162.09 in liquidations across 7 events.
• Moonriver: Moonriver saw minimal changes (e.g., xcKSM borrows -3%, MOVR -6%, FRAX ~flat). No liquidation events occurred on Moonriver this week

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, August 28th.

[Boardroom]

Weekly Governance Update: Week of August 18th, 2025

One onchain proposal went up for a vote this week.

Proposals

MIP-B45: Remediation of Base Safety Module Rewards (Phase 1)

Summary: The first of two planned proposals, MIP-B45 sought to reimburse stkWELL stakers on Base who lost rewards due to the reward calculation bug triggered by MIP-X28. It creates a Merkl airdrop campaign to fully refund affected users for their pre-bug rewards (via Angle Protocol, see more here), sets Base Safety Module emissions to zero going forward, and transitions reward distribution to Merkl claims. A future governance proposal will address post-bug rewards using a time-weighted distribution.

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: Some notable week-over-week changes include VIRTUAL supply (+41%, 1.77M → 2.50M) and borrows (+137%, 0.40M → 0.95M), AERO borrows (+25%, 7.89M → 9.88M), cbETH borrows (-54%, 162.06 → 74.23), rETH borrows (-46%, 43.20 → 23.18), and wstETH borrows (+33%, 151.29 → 200.91). There were $506,904.95 in liquidations across 109 liquidation events.
• OP Mainnet: Notable changes this week include a sharp jump in rETH borrows (~1095%), alongside declines in USDT borrows (~32%) and USDT supply (~28%). There were $278.99 in liquidations across 4 events.
• Moonbeam: Moonbeam’s core markets saw minimal week-over-week changes (GLMR ~+1%; stablecoin balances roughly flat), with a slight uptick in xcUSDT utilization. There was only $41.64 in liquidations across 2 events.
• Moonriver: Moonriver had virtually no week-over-week changes in supply or borrow levels. Likewise, no liquidation events occurred on Moonriver this week.

Upcoming Events in Governance

Monthly Governance Call

Look for the next Monthly Governance Call on X on the last Thursday of the month, August 28th.