moonwell

**Urgent deadline approaching:** WELL token holders on Moonbeam have until **July 31** to transfer their assets before the network sunsets on Polkadot. **Key actions required:** - Transfer WELL tokens to Base, OP Mainnet, or Ethereum Mainnet - Transfers are 1:1 and complete in minutes - The 7-day staking cooldown has been removed for immediate redemption - Over 25M WELL remains staked on Moonbeam **Important notes:** - Tokens left on Moonbeam after July 31 may become permanently inaccessible - This affects only Moonbeam deployment; Base, OP Mainnet, and Ethereum markets remain unaffected [Transfer your WELL now](http://moonwell.fi/transfer)

BingX has become the latest exchange to announce support for WELL's migration from Moonbeam Network to Base. **Key Details:** - WELL tokens held on BingX will be automatically migrated through the exchange's token swap process - Users should review the [official announcement](https://bingx.com/en/support/articles/16947526279439) for specific timing and requirements **Growing Exchange Support:** BingX joins several other major exchanges that recently announced WELL migration support: - HTX - CoinEx - Gate - KuCoin This coordinated exchange support indicates a significant infrastructure shift for the WELL token ecosystem as it transitions to Base.

**Bitcoin activity accelerates across Moonwell protocol** Coinbase's cbBTC saw significant growth this week: - Borrowing jumped **87% on Ethereum** - Base network borrowing increased **13%** - Ethereum deposits climbed **23%** This follows a broader trend of increased borrowing activity across Moonwell's markets. Last week, USDT and USDC borrows on Ethereum rose 236% and 148% respectively, while VELO borrows on OP Mainnet climbed 206% to nearly 6M VELO. The growth comes after Moonwell introduced enhanced borrowing rewards, allowing users to earn WELL tokens when borrowing USDC, USDT, ETH, or cbBTC across all Ethereum markets. [View full Market Watch report](https://moonwell.fi)

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.

Following its recent Ethereum launch, **Moonwell is considering Robinhood Chain as its next deployment destination**. The community is being invited to discuss this potential expansion on the project's forum. This comes after Moonwell successfully went live on Ethereum last month, marking a significant milestone in the protocol's multi-chain strategy. - Community members can share their thoughts on the forum - Decision follows recent Ethereum integration - Robinhood Chain represents potential new market opportunity The move would extend Moonwell's lending protocol to Robinhood's blockchain infrastructure, potentially reaching a new user base.

**Key Market Movements:** - AERO deposits on Base increased 29% this week - ETH borrows rose 9% on the same network - USDC supply gaining momentum on Ethereum as Moonwell's newest deployment expands **Platform Growth:** Moonwell's total market size approaches $1B, with over 221K users worldwide utilizing the protocol. Volume continues to surge across major assets including ETH, USDC, cbBTC, and AERO. Data compiled by Anthias analytics.

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.

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.