Moonwell Activates Multichain Governance and Native WELL Token on Base Network

Moonwell has completed the first round of remediation payments following the cbETH incident, distributing 152.83 ETH out of 169.267 ETH allocated for Round 1. **Key Details:** - Payments executed after successful passage of [MIP-B58](https://moonwell.fi/governance/proposal/moonbeam?id=147) - Approximately 20 wallets flagged as high-risk require KYC verification - Affected users must open support ticket in [Discord](https://discord.com/invite/moonwellfi) to complete verification **For Affected Users:** Check your wallet status and expected allocation using the [Remediation Dashboard](https://cbeth-remediation.vercel.app/). Simply paste your wallet address to verify payment details. Full discussion available on the [governance forum](https://forum.moonwell.fi/t/recovery-plan-cbeth-incident-and-moonwell-apollo-onboarding/2084/106).

**Governance Vote Now Open** Moonwell's WELL token holders are currently voting on a proposal to integrate @AskVenice's VVV protocol with the Moonwell platform. **Key Details:** - Voting is active and open to all WELL holders - Decision will determine whether VVV becomes part of Moonwell's ecosystem - Community-driven governance in action This follows Moonwell's ongoing commitment to decentralized decision-making, where token holders shape the platform's direction through direct voting mechanisms. [Learn more about the vote](https://moonwell.fi)

**Moonwell's USDC Vault now supports Ethereum-backed loans** directly in the Coinbase app, expanding beyond Bitcoin lending. **Key developments:** - Curators allocated liquidity to the cbETH/USDC market on Morpho - Higher borrowing activity drives increased utilization and revenue - Vault serves as primary liquidity source for ETH-backed loans **Access points:** - [Explore USDC Vault](https://moonwell.fi/vaults/deposit/base/mwusdc) - [Real-time tracking](https://morpho.blockanalitica.com/base/vaults/vaults?search=moonwell) This expansion follows Moonwell's successful Bitcoin lending integration and represents continued growth in institutional DeFi adoption.

**Moonwell** rolled out several key updates this week: - **New governance dashboard** created by @joel_obafemi to track reserve auctions and vote-to-claim staking rewards - **Mamo account upgrades** for USDC and Bitcoin functionality - **Bitcoin borrowing discussion** on Edge Podcast featuring @LukeYoungblood and @GrafaCrypto about using Moonwell Vaults on Base - **$CYPR airdrop rewards** for Moonwell Card users from Cypher - **DuneCon25 presence** with contributor @danimimm attending in Buenos Aires The governance improvements aim to **increase community participation** through enhanced tracking of reserve auctions and staking rewards.

Moonwell has expanded its OEV (Oracle Extractable Value) implementation by integrating API3's OEV-enabled data feed for the GLMR Core Market on Moonbeam Network. This strategic update follows Moonwell's successful rollout of OEV across 15 markets on Base and Optimism Mainnet. Key updates: - First lending protocol to implement onchain OEV auctions - New integration with API3's data feed on Moonbeam - Enhanced revenue generation capabilities - Improved capital efficiency across markets The expansion demonstrates Moonwell's commitment to optimizing protocol revenue streams while maintaining robust market operations.