Weekly Governance Update: Week of April 7th, 2025
One onchain proposal went up for a vote this week.
Proposals
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.
Weekly Governance Update: Week of April 14th, 2025
One onchain proposal went up for a vote this week.
Proposals
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).
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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.
Weekly Governance Update: Week of April 21st, 2025
One onchain proposal went up for a vote this week.
Proposals
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).
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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.
Weekly Governance Update: Week of April 28th, 2025
One Snapshot went up for a vote this week.
Proposals
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).
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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!).
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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.
Weekly Governance Update: Week of May 5th, 2025
Two onchain proposals went up for a vote this week.
Proposals
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
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).
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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.
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).
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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.
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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.
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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.
Weekly Governance Update: Week of May 19th, 2025
One onchain proposal and one Snapshot went up for a vote this week.
Proposals
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.
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).
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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.
1 Like
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).
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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.
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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.