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 $90M in Total Value Locked! A big thank you to everyone who has tried Moonwell in recent weeks. We're incredibly grateful for the support as we work toward simplifying DeFi and promoting financial inclusion worldwide.
Moonwell is lending made simple. We're committed to streamlining onchain finance, empowering both beginners and seasoned experts alike to do more with their crypto. Join us today at moonwell.fi 🌜🌛
Smart wallets are coming to @Base! - Create a wallet with a secure passkey on your mobile device (no seed phrases) - Use your favorite apps like @MoonwellDeFi and @aerodromefi with biometric signing (FaceID) - Bundlers process tx more efficiently - Paymasters pay tx fees 🌜🔵🌛
🌜🌛 New rewards are now live on Moonwell's USDC market! The Moonwell community is committed to promoting the adoption of @Circle's USDC on @Base. In collaboration with @Gauntlet_xyz, 50,000 USDC have been made available to those supplying this popular stablecoin on Moonwell.
🌙💳 CYPR Airdrop Claims Now Open for Moonwell Card Holders
**$CYPR airdrop claims are now live** for Moonwell Card holders. - Claims process is currently active - Available exclusively for Moonwell Card users - Detailed claiming instructions available through Cypher HQ's official thread Moonwell Card enables users to spend digital dollars at **44M+ merchants worldwide**, allowing crypto holders to use their assets for everyday purchases including shopping, dining, and travel. Users can **earn reward points** while making purchases with their Moonwell Card, creating additional value beyond the initial airdrop opportunity. *Check Cypher HQ's thread for step-by-step claiming instructions.*
🏦 DeFi Platforms Simplify Onchain Finance
**Onchain finance is becoming more accessible** as platforms like Moonwell, Morpho, and Mamo on Base streamline decentralized lending and borrowing. At Token2049, industry experts discussed how these protocols are **removing traditional banking barriers** and making DeFi more intuitive for mainstream users. Key developments include: - Simplified user interfaces for lending and borrowing - Integration across Base network for better accessibility - Focus on **eliminating middlemen** from financial transactions These platforms allow users to **grow their money directly** through peer-to-peer lending without traditional bank involvement, potentially driving the next wave of DeFi adoption.
🦋 USDC Vault Launches
**Moonwell launches new USDC Vault on Base next week** The Moonwell Ecosystem USDC Vault goes live, built on MorphoLabs infrastructure. This creates a **public credit facility** where WELL token holders can borrow against their holdings. **Key features:** - Built on MorphoLabs protocol - Curated by Anthias - Part of expanding Moonwell Vaults suite on Base - Enables WELL holders to unlock liquidity **Recent performance context:** - September generated $928K in fees across Base and Optimism - Growth driven by ETH, USDC, and AERO deposits - 3.33M WELL rewards distributed over 30 days to vault users This vault represents another step in Moonwell's expansion of lending products on Base, offering new utility for WELL token holders while maintaining the platform's focus on security and comprehensive auditing.
GENIUS Act Forces DeFi Protocols to Adapt or Risk Losing Liquidity to CeFi
The **GENIUS Act** is creating a pivotal moment for DeFi lending protocols like Moonwell. According to contributor Luke Youngblood's analysis, this legislation draws a clear line in the sand for the industry. **Key implications:** - Stablecoins are essential infrastructure for lending protocols - DeFi must adapt to new regulatory reality - Failure to comply could drive liquidity flows to centralized finance The act paves the way for regulated USD-backed stablecoins, forcing protocols to choose between evolution and obsolescence. For Moonwell, this means focusing on scaling compliant stablecoins across chains and building native liquidity. Read the full analysis: [The GENIUS Act is an ultimatum for global decentralised finance](https://www.financemiddleeast.com/opinion/the-genius-act-is-an-ultimatum-for-global-decentralised-finance/)
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.