Weekly Governance Update: Week of January 12th, 2026
Two onchain proposals went up for a vote this week.
Proposals
Summary: With Chainlink’s upcoming deprecation of oracles on Moonriver, this proposal sought to further reduce collateral factors on Moonriver markets (xcKSM, MOVR, and FRAX) from 15% to 7.5% as part of an ongoing wind-down of lending activity on the chain.
Summary: On Wednesday, MIP-B55 went up for a vote onchain, seeking to renew and adjust incentive allocations for select Moonwell vaults (USDC, WETH, EURC, and cbBTC) for the upcoming incentive period (January 16th, 2026 through February 2nd, 2026).
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 and LBTC supply are up 11% and 9%, respectively. AERO borrows are up 10%, while cbETH borrows are down 42%. There was ~$34.5K in liquidations across 36 events.
- OP Mainnet: USDT borrows and supply are down 53% and 31%, respectively. DAI supply and borrows are up 141% and 172%, respectively. VELO borrows are up 56%. There was ~$1.5K in liquidations across 2 events.
- Moonbeam: No significant changes were reported.
- Moonriver: There was ~$3.2K in liquidations across 79 events. The deprecation of Moonriver markets continues this month through the gradual reduction in collateral factors.
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.
Weekly Governance Update: Week of January 19th, 2026
One proposal went up for a vote this week.
Proposals
Summary: Following in the footsteps of MIP-R36 and MIP-R37 earlier this month, this proposal sought to complete the wind-down of Moonriver lending activity, further reducing collateral factors on Moonriver markets from 7.5% to 0%. It was successful.
Contributor Updates
Forum post: [Anthias Labs] - Risk Parameter Recommendations
Author: Anthias
Summary: Anthias Labs shared their risk parameter recommendations for Moonwell’s Core Markets for the month of February.
- Base: LBTC and tBTC Collateral Factors were decreased to 83% and 81%, respectively. WELL borrow cap was raised to 34M. IR parameters were recommended to be changed for cbBTC, LBTC, and tBTC.
- OP Mainnet: IR parameters were recommended to be changed for USDC, USDT, and USDT0.
- Moonbeam: There were no parameter recommendations for Moonbeam.
- Moonriver: Collateral factors for MOVR, xcKSM, and FRAX were all decreased as part of a phased wind-down.
Forum post: [Anthias Labs] Weekly Market Updates
Author: Anthias
Summary: Anthias posted a weekly update for the Moonwell markets covering the previous week.
- Base: USDC supply is up 10%; WETH and EURC supply are down 12% and 17%, respectively. cbETH borrows are up 73%. There was ~$200K in liquidations across 80 events.
- OP Mainnet: VELO borrows are down 47%. USDT borrows and supply are up 86% and 39%, respectively. USDT0 supply is down 37%. There were no liquidations.
- Moonbeam: No significant changes were reported.
- Moonriver: There was ~$1.8K in liquidations across 58 events. The deprecation of Moonriver markets will occur by February 1st. The update includes a list of remaining addresses with debt on Moonriver.
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Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X this week on Thursday, January 29th.
Weekly Governance Update: Week of January 26th, 2026
Two onchain proposals 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:
- 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: Increased WELL Supply and Borrow APR
- WELL: Decreased 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: Decreased WELL Supply and Borrow APR
- Optimism Mainnet:
- USDC: Decreased WELL Supply APR
- USDT: Increased WELL Supply APR
- DAI: Increased WELL Supply APR
- ETH: Decreased WELL Supply APR
- wstETH: Decreased WELL Supply APR
- rETH: Decreased WELL Supply APR
- OP: Increased 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; decreased GLMR Supply and Borrow APR
- USDC.wh: Decreased 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: Decreased WELL Supply and Borrow APR; decreased GLMR Supply and Borrow APR
- Reserves to Auction: N/A
Summary: 0xMims posted a proposal to the forums on Thursday after the governance call, seeking to transfer the risk curator role for Moonwell’s Morpho vaults on Base from BlockAnalitica / B.Protocol to Anthias Labs. The measure is meant to unify risk management under a single team already responsible for Moonwell protocol risk and reduce redundant costs.
Delegate Updates
Forum post: Monthly Market Risk Assessment (January 2026)
Author: Jor-el
Summary: Jor-el, as a part of his Data & Analytics Super Delegate role, posted a risk assessment of Moonwell’s Core Markets on Base using onchain data. The report includes metrics such as utilization, liquidity conditions, collateral composition, interest-rate dynamics, and protocol parameters across the core markets on Base. His Optimism Mainnet report went live shortly after.
Contributor Updates
Forum post: [Anthias Labs] Weekly Market Updates
Author: Anthias
Summary: Anthias posted a weekly update for the Moonwell markets covering the previous week.
- Base: cbBTC and WETH supply are down 8% and 7%, respectively; cbETH supply and borrows are up 17% and 44%, respectively. There was ~$42.6K in liquidations across 53 events.
- OP Mainnet: USDC borrows are up 30%. VELO borrows are down 77%. USDT supply is up 31%. There was ~$2.2K in liquidations across 4 events.
- Moonbeam: No significant changes were reported.
- Moonriver: Following the full deprecation of Moonriver markets where collateral factors were reduced to zero, all remaining debt positions were liquidated.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, February 26th.
Weekly Governance Update: Week of February 2nd, 2026
One onchain proposal went up for a vote this week.
Proposals
Summary: We previously covered Anthias Labs’ monthly recommendations forum post. This week, on Wednesday, those recommended changes were formally submitted through an onchain proposal.
Delegate Updates
Forum post: Treasury Fund Usage from Deprecated Aera V2 Apollo Vault
Author: Coolhorsegirl
Summary: Tuesday, Moonwell Super Delegate Coolhorsegirl posted a discussion to the forums seeking community input on the custody and use of the $250–312k USDC held in the Moonwell Apollo Treasury vault, following the wind-down of Moonriver markets.
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: MAMO supply and borrows are up 95% and 91%, respectively; USDC borrows are down 17%. AERO and cbXRP supply are up 12% and 10%, respectively. There was ~$2.96M in liquidations across 1087 events.
- OP Mainnet: WETH borrows are down 8%. VELO and USDC supply are down 9% and 6%, respectively. There was ~$94.4K in liquidations across 130 events.
- Moonbeam: There was ~$10.9K in liquidations across 436 events.
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Forum post: [Anthias Labs] Minimum Reserve Recommendations
Author: Anthias
Summary: Anthias also provided minimum recommended reserves for Base and OP Mainnet. Like last month, the team recommended that the protocol sends no reserves to auction this month in order to accrue reserves to cover bad debt as quickly as possible.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, February 26th.
Weekly Governance Update: Week of February 9th, 2026
One onchain proposal went up for a vote this week.
Proposals
Summary: Submitted onchain on Tuesday, this proposal sought to activate Chainlink OEV Wrapper contracts across all remaining Moonwell non-composite oracle markets on Base and OP Mainnet. This comes after MIP-X38 successfully validated OEV functionality. It also sought to update the OEV fee split on existing and newly deployed wrappers.
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, cbBTC, and AERO supply are down 31%, 34%, and 17%, respectively, while LBTC supply is up 34%. There was ~$1.2M in liquidations across 263 events.
- OP Mainnet: WETH supply and borrows are down 24% and 32%, respectively; USDC borrows are also down 22%. There was ~$34.3K in liquidations across 43 events.
- Moonbeam: There was ~$4.2K in liquidations across 372 events.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, February 26th.
Weekly Governance Update: Week of February 16th, 2026
Two onchain proposals went up for a vote this week.
Proposals
Summary: Submitted onchain on Wednesday, this proposal sought to revert the configured oracle for the cbETH market on Base from the OEV wrapper back to the standard Chainlink-composite pricing model. This restored the oracle behavior that was in place prior to MIP-X43 and ensured cbETH is priced correctly relative to ETH.
Summary: The regular monthly reward speed proposal went onchain on Friday. It made changes to the following markets:
- Base:
- ETH: Decreased WELL Supply and Borrow APR
- USDC: Increased WELL Supply APR
- AERO: Decreased WELL Borrow APR
- cbBTC: Decreased 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: 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 Mainnet:
- USDC: Increased WELL Supply APR
- USDT: Increased 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: Increased 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; increased GLMR Supply and Borrow APR
- xcUSDT: Increased 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: N/A
Delegate Updates
Forum post: Recovery Plan: cbETH Incident and Moonwell Apollo Onboarding
Author: Fechuky
Summary: A new forum discussion was posted by Super Delegate Fechuky on Wednesday. It sought to introduce a recovery plan regarding the cbETH incident from 02/14-02/18 and Moonwell Apollo Onboarding. The recovery plan included the immediate partial repayment from the Moonwell Apollo Treasury (~$310K), ongoing repayment via protocol reserves for the remaining balances, and stkWELL compensation for MFAM wind-down participants at a 1:1.5 ratio.
Contributor Updates
Forum post: MIP-X43 cbETH Oracle Incident Summary
Author: Anthias
Summary: On Monday, Anthias Labs shared a forum post outlining an incident that occurred after the execution of MIP-X43. After the Chainlink OEV wrapper contracts were enabled across the core markets on Base and Optimism, a mispricing in cbETH’s reported value was caused by a misconfiguration in one of the oracles. The incident resulted in $1.78M in bad debt (the majority being cbETH) across various markets. Read Anthias’ post to find more information, including a spreadsheet of affected addresses.
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Forum post: [Anthias Labs] - Risk Parameter Recommendations
Author: Anthias
Summary: Anthias Labs shared their risk parameter recommendations for Moonwell’s Core Markets for the month of March.
- Base: LBTC collateral factor was decreased to 82%. Borrow caps for cbBTC, AERO, and wstETH were decreased to 90, 7.5M, and 500, respectively. cbETH reserve factor was increased. IR parameters were recommended to be changed for USDC and cbETH.
- OP Mainnet: There were no parameter recommendations for OP Mainnet.
- Moonbeam: There were no parameter recommendations for Moonbeam.
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Forum post: [Anthias Labs] Weekly Market Updates
Author: Anthias
Summary: Anthias posted a weekly update for the Moonwell markets covering the previous week.
- Base: WETH supply and borrows are down 23% and 25%, respectively; wstETH and AERO supply are also down 28%, each. cbBTC borrows are down 56%. There was ~$3.098M in liquidations across 1182 events.
- OP Mainnet: wstETH supply is down 10%, while DAI supply is up 26%. There was ~$640 in liquidations across 27 events.
- Moonbeam: xcDOT borrows are down 77%. There was ~$50 in liquidations across 13 events.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, February 26th.
Weekly Governance Update: Week of February 23rd, 2026
One onchain proposal went up for a vote this week.
Proposals
Summary: Originally submitted last week, MIP-X44 was cancelled due to an issue with Wormhole VAAs; it was resubmitted this week on Monday. The proposal was successful.
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 and cbETH supply are up 45% and 91%, respectively; cbBTC and wstETH supply are down 10% and 17%, respectively. There was ~$15.5K in liquidations across 252 events.
- OP Mainnet: USDT supply and borrows are down 43% and 56%, respectively. DAI supply and borrows are up 39% and 50%, respectively. There was ~$800 in liquidations across 29 events.
- Moonbeam: There was ~$300 in liquidations across 41 events.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, March 26th.
Weekly Governance Update: Week of March 2nd, 2026
Three onchain proposals went up for a vote this week.
Proposals
Summary: Submitted onchain on Monday, this proposal sought to restore user withdrawals and redemptions on Moonwell’s Moonriver markets by setting placeholder prices in the oracle. Borrowing remained disabl and collateral factors remain set to 0% across all Moonriver markets; the proposal simply restores the ability to withdraw or exit markets.
Summary: The first of two submitted onchain on Wednesday, this proposal sought to upgrade the stkWELL contracts across Moonbeam, Base, and OP Mainnet to remove faulty logic and improve snapshot correctness on Moonbeam.
Summary: Wednesday’s second proposal sought to provide restitution to wallets impacted by the cbETH incident. It also sought to onboard MFAM and stkMFAM holders into the ecosystem through a WELL staking allocation and a targeted stkWELL airdrop.
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: cbETH and AERO supply are up 40% and 10%, respectively, while wstETH supply is down 15%. wstETH and cbBTC borrows are up 78% and 11%, respectively. There was ~$34.8K in liquidations across 171 events.
- OP Mainnet: USDC supply and borrows are down 8% and 20%, respectively. OP borrows are up 191%. There was ~$100 in liquidations across 8 events.
- Moonbeam: There was ~$197 in liquidations across 67 events.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, March 26th.
Weekly Governance Update: Week of March 9th, 2026
One onchain proposal went up for a vote this week.
Proposals
Summary: In our recap for the week of Feb 16th, we summarized Anthias’ risk parameter recommendations for the next month. On March 9th, the crosschain proposal was created. It was successful.
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: cbBTC, WETH, and wstETH supply are down 17%, 11%, and 19%, respectively; wstETH borrows are also down 43%, while borrows for LBTC and cbBTC are up 71% and 10%, respectively. There was ~$10.86K in liquidations across 26 events.
- OP Mainnet: USDT borrows are down 22%, respectively. There was ~$44 in liquidations from a single event.
- Moonbeam: There was ~$44 in liquidations across 6 events.
Community & Integrations
Forum post: Proposal to Add VVV Market to Moonwell on Base
Author: Anthias
Summary: Anthias provided recommended risk parameters for a VVV asset listing on Moonwell on Base. They recommended setting the borrow cap to 0.1, effectively making it a collateral-only market.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, March 26th.
Weekly Governance Update: Week of March 16th, 2026
One onchain proposal went up for a vote this week.
Proposals
Summary: After Anthias’ recommended parameters for a VVV Core Market were published last week, the proposal to onboard Venice.ai’s native utility token as collateral on Moonwell’s Base deployment was submitted on Thursday.
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: LBTC and EURC supply are up 62% and 53%, respectively; cbETH supply and cbXRP borrows are down 15% and 17%, respectively. There was ~$11.38K in liquidations across 78 events.
- OP Mainnet: DAI supply and borrows are down 58% and 66%, respectively. USDC and VELO supply are up 4% and 3%, respectively. There were no liquidations this week.
- Moonbeam: There were no liquidations nor notable events this week.
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Forum post: [Anthias Labs] - Risk Parameter Recommendations
Author: Anthias
Summary: Anthias Labs shared their risk parameter recommendations for Moonwell’s Core Markets for the month of April.
- Base: LBTC and tBTC collateral factors were both decreased to 80%. IR parameters were recommended to be changed for USDC and EURC.
- OP Mainnet: weETH supply cap and borrow cap were decreased to 0.1. IR parameters were recommended to be changed for USDC and USDT.
- Moonbeam: There were no parameter recommendations for Moonbeam.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, March 26th.
Weekly Governance Update: Week of March 23rd, 2026
Two onchain proposals went up for a vote this week.
Proposals
Summary: The regular monthly reward speed proposal went onchain on Monday. It made changes to the following markets:
- Base:
- ETH: Increased WELL Supply and Borrow APR
- USDC: Increased WELL Supply APR
- AERO: Decreased WELL Borrow APR
- cbBTC: Decreased WELL Supply and Borrow APR
- EURC: Increased WELL Supply and Borrow APR
- WELL: Increased WELL Supply and Borrow APR
- tBTC: Decreased 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 Mainnet:
- USDC: Increased WELL Supply APR
- USDT: Decreased WELL Supply APR
- DAI: Decreased WELL Supply APR
- ETH: Increased WELL Supply APR
- wstETH: Increased WELL Supply APR
- rETH: Increased WELL Supply APR
- OP: Decreased WELL Supply APR
- weETH: Increased WELL Supply APR
- VELO: Increased WELL Supply APR
- wrsETH: Increased WELL Supply APR
- USDT0: Increased WELL Supply APR
- Moonbeam:
- GLMR: Increased WELL Supply and Borrow APR; increased GLMR Supply and Borrow APR
- DOT: Increased WELL 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: N/A
Summary: Shortly after the governance call on Thursday, MIP-X48 was submitted for onchain voting. It sought to remove reliance on Wormhole’s deprecated Standard Relayer (prior to its April 1st sunset), preserving uninterrupted cross-chain functionality for xWELL and governance. This measure allows Moonwell to relay VAAs independently in the interim while the protocol prepares for a later migration to Wormhole’s Executor framework.
Delegate Updates
Forum post: Moonwell Data: A Unified Analytics Dashboard
Author: Jor-El
Summary: On Thursday, Super Delegate Jor-El published a dashboard for Moonwell, unifying data on Moonwell across all chains. It’s designed to be a single source for analytics across markets, financials, governance, liquidations, wallets, and vaults, across all deployments.
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 up 3%; cbBTC borrows are down 13%, while LBTC borrows are up 45%. There was ~$5K in liquidations across 73 events.
- OP Mainnet: There was ~$12.5K in liquidations across 7 events.
- Moonbeam: No liquidations nor notable changes were reported.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, April 30th.
Weekly Governance Update: Week of March 30th, 2026
One onchain proposal went up for a vote this week.
Proposals
Summary: MIP-X49 was submitted onchain on Thursday. It sought to fix two Wormhole post-V3 audit findings, improving reliability and maintainability of Moonwell’s cross-chain infrastructure. Several contracts used a different consistency setting than intended. The WormholeBridgeAdapter’s bridgeCost() function also included a check against the deprecated Wormhole relayer quoter (logic which was no longer necessary). The proposal thus sought to set consistencyLevel = 1 across all contracts utilizing publishMessage, and update the bridgeCost() implementation, removing calls to the deprecated relayer quoter.
Contributor Updates
Forum post: Proposal for Monthly Excess Reserve Distribution to cbETH Users
Author: Anthias
Summary: Anthias created a forum post showcasing Base reserve changes over a two-month period, beginning February 1st, 2026. The post proposed using the reserves that have accrued over the past two months (in excess of any bad debt) to compensate users affected by the cbETH incident. Reserves would continue to accrue in markets with existing bad debt (e.g. WETH and USDC), while excess reserves from markets without bad debt would be allocated toward remediating the impact on cbETH users. The team recommended continuing this structure every month going forward.
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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, wstETH, and EURC supply were notably down on the week; WELL and VVV supply were up. There was ~$6.5K in liquidations across 49 events.
- OP Mainnet: WETH and USDC borrows supply were up this week; WETH and USDT0 supply are also notably up on the week. Liquidations were negligible.
- Moonbeam: No liquidations nor notable events were reported.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, April 30th.
Weekly Governance Update: Week of April 6th, 2026
One proposal went onchain for a vote this week.
Proposals
Summary: In our recap for the week of March 16th, we summarized Anthias’ risk parameter recommendations for the next month. On April 10th, the crosschain proposal was created. It passed its voting period.
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 up 22%; AERO and EURC borrows are up 24% and 21%, respectively. There was ~$1.8K in liquidations across 132 events.
- OP Mainnet: wstETH supply is down 11%, while OP borrows are up 21%. Liquidations were negligible.
- Moonbeam: No liquidations nor notable events were reported.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, April 30th.
Weekly Governance Update: Week of April 13th, 2026
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 Thursday for the Moonwell markets covering the previous week.
- Base: cbETH supply is up 12%, while WELL supply and cbETH borrows are down 24% and 10%, respectively. There was ~$32.3K in liquidations across 268 events.
- OP Mainnet: USDT supply is down 11%. There was ~$300 in liquidations across 3 events.
- Moonbeam: No liquidations nor notable events were reported.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, April 30th.
Weekly Governance Update: Week of April 20th, 2026
Four onchain proposals went up for a vote this week.
Proposals
Summary: The regular monthly reward speed proposal went onchain on Wednesday. Due to a technical limitation on Moonbeam, it was split up into three parts. It made changes to the following markets:
- Base:
- ETH: Increased WELL Supply and Borrow APR
- USDC: Decreased WELL Supply APR
- AERO: Increased WELL Borrow APR
- cbBTC: Increased WELL Supply and Borrow APR
- EURC: Decreased 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: Decreased WELL Supply and Borrow APR
- Optimism Mainnet:
- USDC: Increased WELL Supply APR
- USDT: Decreased WELL Supply APR
- DAI: Decreased WELL Supply APR
- ETH: Increased WELL Supply APR
- wstETH: Increased WELL Supply APR
- rETH: Increased WELL Supply APR
- OP: Increased WELL Supply APR
- weETH: Decreased WELL Supply APR
- VELO: Increased WELL Supply APR
- wrsETH: Decreased WELL Supply APR
- USDT0: Increased 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: Decreased WELL Supply and Borrow APR; decreased GLMR Supply and Borrow APR
- USDC.wh: Increased WELL Supply and Borrow APR; increased 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
- Bad Debt Repayment: withdraws reserves from four Base markets to repay outstanding bad debt on behalf of the affected borrowers.
Summary: Submitted on Wedneday, this proposal sought to upgrade the xWELL WormholeBridgeAdapter to the Wormhole Executor framework. As discussed in the last governance call, this upgrade is necessary to keep governance and WELL cross-chain transfers functioning. It upgrades the vote collector contracts and WELL cross-chain bridging contracts to support the new Wormhole relayer technology.
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: EURC and estETH supply are up 29% and 10%, respectively; AERO borrows and VIRTUAL supply are up 28% and 29%, respectively. There was ~$27K in liquidations across 42 events.
- OP Mainnet: WETH borrows are down 41%. WETH and weETH supply are both down 28% and 75%, respectively. Liquidations were negligible.
- Moonbeam: No notable events nor liquidations were reported.
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, April 30th.
Weekly Governance Update: Week of April 27th, 2026
No onchain proposals went up for a vote this week.
Contributor Updates
Forum post: [Anthias Labs] - Risk Parameter Recommendations
Author: Anthias
Summary: Anthias Labs shared their risk parameter recommendations for Moonwell’s Core Markets for the month of May.
- Base: Reserve factor was increased to 99% for VIRTUAL, cbETH, and cbXRP; cbXRP’s borrow cap was decreased to 0.01. IR parameters were adjusted for VIRTUAL, cbETH, and cbXRP.
- OP Mainnet: There were no parameter recommendations for OP Mainnet.
- Moonbeam: GLMR reserve factor was increased to 99%; GLMR also had IR curve parameter adjustments.
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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: cbXRP and VIRTUAL experienced significant decreases in supply and borrows (due to high amounts of bad debt repayment). There was ~$61 in liquidations across 12 events.
- OP Mainnet: USDC supply is down 18% while DAI borrows are up 23%. Liquidations were negligible.
- Moonbeam: No notable events nor liquidations were reported.
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