Successful Voting for MIP-M16

Moonwell has executed **MIP-X58**, marking a significant protocol upgrade that establishes Ethereum Mainnet as its primary governance hub. **Key Changes:** - Ethereum Mainnet now serves as the central governance layer - Base, Optimism, and Moonbeam remain fully integrated through the new architecture - Builds on MIP-X55, which enabled WELL token bridging across all four chains This upgrade follows weeks of preparation, including the successful execution of MIP-X55 that brought WELL to Ethereum and enabled cross-chain movement between Base, Optimism Mainnet, Moonbeam, and Ethereum. In-app bridging functionality is expected to arrive soon. The move to Ethereum-based governance represents a foundational shift in Moonwell's infrastructure, positioning the protocol for future development across its multi-chain ecosystem.

Moonwell is discussing a proposal to list **deSPXA**, Centrifuge's tokenized S&P 500 index fund, as collateral on its Base network lending platform. **Key Points:** - deSPXA would allow users to borrow against tokenized stock market exposure - The proposal expands Moonwell's real-world asset collateral options - Aerodrome Finance is building infrastructure to support onchain stocks - Community members can review and comment on the [governance proposal](https://forum.moonwell.fi/t/proposal-to-add-despxa-market-to-moonwell-on-base/2163) This integration would enable leverage and structured strategies around index exposure that traditional brokerages typically don't offer.

Centrifuge's tokenized S&P 500 product, deSPXA, may become available as collateral on the Moonwell lending platform, pending governance approval. **Key Points:** - deSPXA provides onchain exposure to the S&P 500 through the J.H. Investors S&P 500 Index Fund - Integration would enable users to borrow against their tokenized index holdings - Opens possibilities for structured strategies using traditional market exposure in DeFi - Currently live on Base network - Requires community governance vote to proceed The proposal represents a step toward bridging traditional finance indices with decentralized lending protocols.

**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.