Full Moon Update: 11/08/22
As introduced in the previous New Moon Update, we will be publishing bi-monthly blog posts on Medium that are synchronized with the lunar cycle and keep the community informed of the latest Moonwell happenings.
The November 8th full Moon brings with it the last total lunar eclipse that will be seen from Earth’s surface until 2025! A lunar eclipse occurs when the Sun, Earth, and Moon completely align. In a similar fashion, things have begun to align for the protocol in recent weeks with the arrival of Wormhole to Moonbeam, the buildup of liquidity on StellaSwap, and a call for new markets on Moonwell.
MIP-7 Has Been Submitted To The Governance Forum
The latest Moonwell Improvement Proposal, MIP-7, has been submitted to the Moonwell Governance Forum and calls for the addition of Wormhole-wrapped assets to Moonwell Artemis!
The submission of MIP-7 to the Governance Forum follows:
- The “Bridges: Path Forward” snapshot vote that signaled the Moonwell community’s preference for Wormhole
- The passage of Moonbeam Ecosystem Grants proposals
- The arrival of Wormhole’s Jump Bridge to Moonbeam
- The launch of the #MoonbeamIgnite campaign
- The subsequent buildup of liquidity for Wormhole assets on StellaSwap.
As the community awaits Gauntlet Network’s initial risk parameter recommendations for these new Wormhole markets, it’s an ideal time to post your feedback, comments, and questions on the MIP-7 forum post.
Moonwell Governance 101
In an effort to educate the community on the ins and outs of Moonwell Governance, the Lunar Technology Foundation has begun publishing a new educational series dubbed “Moonwell Governance 101”. The series will be broken into four parts:
- Getting Started: What Happens Where
- Majority Rules: Delegation and Voting
- Governance Forum: Discussion and Deliberation
- Governance Proposals: Idea to Execution
The first post in this bi-monthly series, “Getting Started: What Happens Where”, arrived today in the form of a Medium article and Twitter thread. It covers the different types of voting and where it’s conducted, where governance-related discourse and discussion occur, and what educational resources are available and where to find them.
Mark Your Calendars!
Downtown Moonbeam will be hosting a #MoonbeamIgnite themed Twitter Space between Moonwell, Prime Protocol, and DAM Finance on Wednesday at 5 pm UTC. This will be a great opportunity to not only learn more about the Moonbeam Ignite campaign but also about two exciting new ecosystem projects!
Following Wednesday’s AMA with DTMB, Lunar Labs co-founder Luke Youngblood will give Friday’s keynote address during Moonbeam’s “Illuminate/22” online conference. If interested in attending, you can go ahead register for free here: https://hopin.com/events/illuminate-22-by-moonbeam/registration
Gauntlet Network Takes An Active Role In Moonwell Governance
Gauntlet Network has posted their Asset Listing Framework to the Moonwell Governance Forum. As part of this proposal, Gauntlet recommends what data community members should provide when proposing the creation of new markets. They also discuss their initial parameter recommendations and procedure for asset liquidity analysis. Community members are encouraged to review the proposed framework and give their feedback prior to the proposal moving to snapshot voting. If passed, this will become the established framework/guidelines for adding new markets on Moonwell.
MIP-3 and MIP-4, Gauntlet’s first risk parameter updates for Moonwell Artemis and Apollo, were both successfully passed and executed! MIP-3 raised the collateral factor of xcDOT on Moonwell Artemis from 60% to 62%, increasing capital efficiency. MIP-4 raised the CF of ETH.multi from 60% -> 62% and USDC.multi from 40% -> 42%, while lowering the CF of FRAX from 60% -> 59.50% on Moonwell Apollo. Gauntlet will continue to perform risk analysis and propose protocol parameter updates on a regular basis.
MIP-5 and MIP-6 Have Successfully Passed and Executed
MIP-5 and MIP-6, both of which balanced liquidity incentives in an effort to maintain healthy levels of rewards in the Moonwell ecosystem, have been passed and executed. Congratulations to “Fechuky” and “not-taco” for the successful passage of their proposals and a big thank you to all who took the time to cast their votes! Governance of the Moonwell protocol wouldn’t be possible without a strong community capable of creating and voting on proposals.
The #MoonbeamIgnite A.I. Art Contest Has Drawn To A Close
The Moonwell Discord recently held a A.I. generated art contest to see who could come up with the best Moonbeam Ignite themed works of art. Over 50 community members grabbed their “Ignite Artist” role and got busy feeding the Mid Journey bot various prompts in an effort to create unique artwork.
A community vote was held and first place went to Francisco Murillo’s “Astronauta y Fenix”! All submitted works were converted into NFTs and hung in a metaverse art gallery. If you haven’t already, be sure to check out the art gallery and join our Discord to be notified of the latest Moonwell community events!
Moonwell is an open lending and borrowing DeFi protocol on Moonbeam & Moonriver. Moonwell’s composable design can accommodate a full range of DeFi applications in the greater Polkadot and Kusama (DotSama) ecosystem.