Moonwell Reaches $150M in Total Value Locked on Base
Moonwell Reaches $150M in Total Value Locked on Base
🚀 New Milestone Reached!
Moonwell, a decentralized application (dapp) on the Base blockchain, has achieved a significant milestone by reaching $150 million in Total Value Locked (TVL). This accomplishment comes after Moonwell became one of the top dapps on Coinbase Wallet, alongside Aerodrome Finance. The reduced transaction fees on Base following the Dencun upgrade have contributed to a surge in new users and increased on-chain activity for Moonwell. The project prioritizes security, with all smart contracts undergoing comprehensive audits from Halborn Security and a bug bounty program powered by ImmuneFI.
Thanks to the reduced transaction fees on @Base following last month's Dencun upgrade, Moonwell has seen a surge in new users and is now witnessing more onchain activity than ever before. We're thrilled to see more of you join our community! 🌜❤️🌛
Over 76K unique users and the highest user activity this week @MoonwellDeFi is $well on @base
Moonwell has reached a new milestone — $150M in Total Value Locked on @Base! 🔵 Whether you've been with us since the beginning or recently joined our community, thank you for the support! 🌜💙🌛
Moonwell is now one of the top dapps in @CoinbaseWallet, right alongside our friends @Aerodromefi ✈️ There has never been a better time to get started on @Base 🌜🔵🌛
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.