Moonwell DeFi Sees Remarkable Growth on Base Network
Moonwell DeFi Sees Remarkable Growth on Base Network
🚀 Moonwell's Meteoric Rise
Moonwell DeFi, a lending platform on the Base network, has experienced significant growth in recent weeks. According to statistics shared by Gauntlet, Moonwell's active wallets have increased from 7,300 to 18,700 since January. The platform's total value locked (TVL) has risen from under $40 million to over $108 million during the same period. Fees paid to lenders on Moonwell now stand at $2.3 million per year, excluding rewards, while the protocol's revenue is at $485,000 per year. These figures highlight Moonwell's rapid adoption and the growing interest in decentralized finance (DeFi) on the Base network.
It's still early in our @Base liquidity journey, but @MoonwellDeFi has seen some remarkable growth in the last few weeks: - Active wallets up from 7.3K to 18.7K since Jan. - TVL from <$40m to >$108M since Jan. - Fees to lenders now @ $2.3M/year (not counting rewards) - Protocol
Moonwell's market size has now surpassed $200M! 🔥 In the past 30 days on @Base and @MoonbeamNetwork, we've seen an impressive ~19k unique active wallets, ~51k transactions, and around $230M in volume. Join us and experience lending made simple — 🌜 moonwell.fi 🌛
And it's live! The gas target has been increased by 50% (to 3.75 mgas/s), with plans to increase it further early next week One small step in a larger effort to reduce fees on Base
Since we rolled out 4844, we’ve seen a 5x increase in demand on @base, driving fees back up To reduce fees and scale, we’re increasing the gas target 50% (to 3.75 mgas/s) tomorrow and then to 5 mgas/s following an observation period, targeting early next week
Thanks to last week's Ethereum upgrade, transaction fees on @Base were significantly reduced. This led to the highest number of unique active wallets and transactions ever on Moonwell! Lower fees are essential to bringing the world onchain 🌜🌐🌛
We're excited to share that Moonwell on @Base has reached a new milestone — $70M in Total Value Locked! 🌜🔵🌛 Thank you to the community for your steadfast support. Together, we're advancing onchain finance and creating a more inclusive global economy!
The Dencun upgrade is now live! A big thank you to the @Base and @OPLabsPBC teams for their incredible work in scaling Ethereum. At 0:00 UTC, expect to see significantly reduced fees on Base 🔵 Lending and borrowing on Moonwell is about to become more affordable than ever! 🌜🌛
blobs are live on ethereum! @base and the superchain will upgrade to leverage them at 00:00:01 UTC tomorrow / 5p PST today two years of hard work alongside thousands of other contributors around the world - about to pay off!
And just like that, $100M in Total Value Locked on @Base! Thank you to the community for your continued support. This milestone wouldn't have been possible without you. 🌜🔵🌛
🌜🔵🌛 @Base season is here! Moonwell has now reached $90M in Total Value Locked! A big thank you to everyone who has tried Moonwell in recent weeks. We're incredibly grateful for the support as we work toward simplifying DeFi and promoting financial inclusion worldwide.
Moonwell is lending made simple. We're committed to streamlining onchain finance, empowering both beginners and seasoned experts alike to do more with their crypto. Join us today at moonwell.fi 🌜🌛
Smart wallets are coming to @Base! - Create a wallet with a secure passkey on your mobile device (no seed phrases) - Use your favorite apps like @MoonwellDeFi and @aerodromefi with biometric signing (FaceID) - Bundlers process tx more efficiently - Paymasters pay tx fees 🌜🔵🌛
🌜🌛 New rewards are now live on Moonwell's USDC market! The Moonwell community is committed to promoting the adoption of @Circle's USDC on @Base. In collaboration with @Gauntlet_xyz, 50,000 USDC have been made available to those supplying this popular stablecoin on Moonwell.
Moonbeam Network Sunset Deadline Approaches: One Week Remaining for WELL Token Transfers
The Moonbeam network on Polkadot will shut down on **July 31, 2026** - just one week away. WELL token holders must act immediately to avoid losing access to their assets. **Key Actions Required:** - Transfer all WELL tokens from Moonbeam to Base, Optimism, or Ethereum before July 31 - Transfers are 1:1 and complete in minutes at [moonwell.fi/transfer](http://moonwell.fi/transfer) - Over 25M WELL remains staked on Moonbeam - the 7-day cooldown has been removed for immediate redemption **Critical Details:** - Assets remaining on Moonbeam after July 31 may become permanently inaccessible - This affects only Moonbeam deployments - Base, Ethereum, and Optimism markets remain unaffected - Users should also withdraw any supplied assets and close positions before the deadline The network shutdown was decided independently by the Moonbeam team. Support available at [support.moonwell.fi](http://support.moonwell.fi).
Moonwell Borrowing Surges Across Networks
Borrowing activity accelerated across Moonwell's lending markets last week, with notable increases on multiple chains. **Key Metrics:** - USDT borrows on Ethereum: **+236%** - USDC borrows on Ethereum: **+148%** - VELO borrows on OP Mainnet: **+206%** (reaching nearly 6M VELO) This uptick follows recent protocol enhancements, including new borrow incentives for USDC, USDT, ETH, and cbBTC on Ethereum. Users can now earn WELL tokens while borrowing these assets. The growth comes as Moonwell continues expanding across chains. Since launching on Ethereum in June, the protocol has attracted over $3.5M in supplied assets. Supply-side WELL incentives remain active across all Ethereum markets. Moonwell operates on Ethereum, Base, and OP Mainnet, offering lending and borrowing for stablecoins, ETH, cbBTC, and other assets. All smart contracts are audited by Halborn Security. [View Markets](http://moonwell.fi/markets/ethereum)
Major Exchanges Support WELL Token Migration to Base
**Multiple exchanges backing WELL's network move** HTX has joined several major exchanges in supporting WELL token migration from Moonbeam Network to Base. The exchange will handle the token swap process for users holding WELL. **Who's involved:** - HTX (latest to announce) - CoinEx - Gate - KuCoin All exchanges are coordinating the migration through their respective token swap processes. Users should check individual exchange announcements for specific timing and requirements. [HTX announcement](https://www.htx.com/support/45038320763647/) This coordinated support from multiple platforms simplifies the migration process for WELL holders across different exchanges.
Moonwell Launches $250K Bug Bounty Program with Sherlock
Moonwell has partnered with Sherlock to launch a bug bounty program offering rewards up to $250,000 for security researchers who responsibly disclose vulnerabilities in the protocol. **Key Details:** - Maximum reward: $250,000 - Partnership with [@sherlockdefi](https://twitter.com/sherlockdefi) - Focus on responsible disclosure - Aims to strengthen protocol security The program invites security researchers to help identify and report potential vulnerabilities, reinforcing Moonwell's commitment to maintaining a secure DeFi platform. Security researchers interested in participating can review the program details and begin their assessments.
Moonwell Launches Borrower Rewards Program on Ethereum
Moonwell has expanded its rewards program to include borrowers on Ethereum. Users can now earn WELL tokens by borrowing USDC, USDT, ETH, or cbBTC across all Ethereum markets. This follows the June launch of supply-side incentives, where lenders earned WELL rewards plus borrower interest. The platform now rewards both sides of the lending equation. **Key Details:** - Borrowing rewards live across all Ethereum markets - Supported assets: USDC, USDT, ETH, cbBTC - Complements existing supply rewards program The dual incentive structure aims to boost liquidity and participation on both lending and borrowing sides of the protocol.