Hello, Cryptonauts!
Today’s New Moon marks the beginning of another lunar cycle that will usher in several dark nights for celestial events to shine. Not only should it be an ideal time for star gazing, but it’s also a great opportunity to catch up on the myriad of events that Moonwell has taken part in recently. This New Moon update not only includes links to these recent events and AMAs, but also covers the latest governance and protocol developments. Let’s dig in!
Moonwell Governance 101: Delegation
The latest edition of Moonwell Governance 101 has just landed in the form of a Medium article and Twitter thread! This installment delves into the delegation process; how to activate your voting power, find a delegate that aligns with your values, and nominate yourself as a delegate in order to represent others in Moonwell Governance.
If you are brand new to decentralized governance and looking for a broader overview, be sure to also check out the previous Moonwell Governance 101 publication “Getting Started”.
Introducing The Moonwell Market Deployer and Moonwell.js
A new Moonwell Market Deployer tool has been created to simplify the process of adding new asset markets to Moonwell. This tool enables the creation of new markets and the associated contracts, without any prerequisite knowledge of Solidity or smart contract functionality. Simply input the token address, symbol, and initial parameters into the command line wizard and deploy! A sample run has been created to demonstrate the process for those who may be interested.
The Moonwell Market Deployer is powered by Moonwell.js, the one-stop library for interacting with the Moonwell protocol. It serves as a central repository of contract addresses and functionality that developers can leverage to build out additional tooling. As stated in the documentation, Moonwell.js is in active development, and “there’s likely going to be a number of changes as the library grows towards v1.0”.
Gauntlet Network’s “Asset Listing Framework” Has Been Ratified!
Gauntlet Network’s “Asset Listing Framework” proposal has unanimously passed and been ratified as the guidelines community members should follow when proposing to add new markets to Moonwell Artemis.
This framework includes what data community members should provide in order for Gauntlet to be able to conduct their risk analysis, as well as insight into their initial risk parameter recommendations.
MIP-7 Update
Gauntlet Network has provided their initial asset listing analysis and risk parameter recommendations for new Wormhole markets on Moonwell Artemis. In their analysis, Gauntlet has identified three potential risks of listing new Wormhole markets; insufficient liquidator data, low DEX liquidity, and potential for further “fallout from the FTX blowup”.
Gauntlet notes that the “assets listed on the StellaSwap DEX have relatively low liquidity”, and that “these assets were impacted further by the market downturn with liquidity decreasing by 38%-45%”. This liquidity outflow of Wormhole bridged assets from Moonbeam is visualized in the below chart.
Gauntlet has recommended that when the community decides that it’s safe to proceed with listing Wormhole assets on Moonwell Artemis, that it does so with the conservative risk parameters seen below.
AMA/Event Roundup
- Mark your calendars! Tarun Chitra, founder and CEO of Gauntlet Network, will be joining founding Moonwell contributor Luke Youngblood for a Twitter Space on November 30. This discussion will revolve around DeFi markets in our current risk-off environment and how Gauntlet leverages their advanced economic simulations to help mitigate risk on the Moonwell protocol.
- Luke Youngblood gave a keynote address and moderated a “State of DeFi” roundtable discussion at Moonbeam’s Illuminate/22 conference
- Moonwell made its first appearance on the Binance Live streaming platform to discuss the Moonbeam Ignite campaign
- Moonwell, StellaSwap, and Midas Capital took part in the monthly Moonbeam Universe crowdcast
- At Astar’s Polkadot Summit conference, Moonwell joined DAM Finance and AstridDAO for a compelling DeFi panel. Though this discussion wasn’t recorded, it has been broken down in the below Twitter thread
About Moonwell
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.
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