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.
Moonwell Distributes 152.83 ETH in First Round of Remediation Payments
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).
WELL Token Holders Vote on VVV Integration with Moonwell
**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)
🚀 ETH Loans Now Live
**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 Launches New Governance Dashboard and Expands Bitcoin Lending Features
**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 Implements API3's OEV-enabled Data Feed for GLMR Core Market
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.