Hello, Moonwell Community!
Welcome to May’s New Moon Update! This month has been chalk full of exciting developments in the Moonwell ecosystem. The community has showcased its strong commitment to growth by funding the Moonwell Apollo Aera Vault, introducing new systems for risk management and real-time market alerts, and passing a plethora of governance proposals. Without further ado, let’s dive right into the details!
The Aera Vault For Moonwell Apollo Has Secured Funding!
Exciting news for the Moonwell ecosystem! The highly anticipated Aera Vault for Moonwell Apollo has been fully funded, thanks to the successful MIP-51 vote. A sum of 250,000 USDC was transferred from the protocol reserves to Polygon. Of this, around 72,000 USDC was exchanged for WETH via Uniswap, aligning with the initial volatility target of 15%, a decision endorsed by the DAO. These funds now reside securely within Moonwell’s Aera Vault, and are subjected to daily rebalancing, in response to market dynamics.
In a significant step towards transparency and seamless fund tracking, Aera has unveiled a cutting-edge dashboard. This platform provides the community with a panoramic view of the funds and crucial statistics related to the vault. Aera’s commitment to delivering regular updates via the Governance Forum and their consistent transparency during all stages of development have culminated in robust support from the Moonwell community.
Moonwell’s May Community Call
In the most recent Moonwell Community Call, we were privileged to host contributors from the Gauntlet Network team, the dynamic minds behind Aera. The community was presented with a comprehensive overview of the freshly unveiled Moonwell Aera Vault. This dialogue offered a unique deep dive into Aera’s complex mechanisms, allowing us to discover the ingenious strategy and state-of-the-art technology fueling this groundbreaking project. Alongside this, Coolhorsegirl and Majin offered timely updates on the latest developments within our ever-growing ecosystem. As usual, members of the community had the chance to get answers to their questions and share thoughts and feedback. If you weren’t able to join the call, don’t worry! You can catch up by watching the replay on our YouTube channel.
Warden Finance Integrates Moonwell Into Their Risk Analytics Platform
Warden Finance has integrated Moonwell into their risk analytics platform. The Moonwell community continues working towards a more robust, transparent, and user-friendly experience, with this integration being an important step towards achieving more advanced risk management capabilities.
This integration is the result of the community’s endorsement of Warden’s Moonwell Grant Proposal, MGP-2. With this new integration, users can delve deeper into positions and transactions on Moonwell, opening up a realm of possibilities for risk analysis and financial planning.
Let’s take a look at the multifaceted analytics toolkit now available to the Moonwell Community:
🔸 Account and Transaction Browser: Warden Finance’s dashboard offers a detailed and user-friendly interface for tracking and analyzing transactions and positions across the Moonwell ecosystem.
🔸 Advanced Account Analytics: Delve deeper into your account’s performance with comprehensive analytics. This feature provides users with a holistic view of their financial activities, helping them make more informed decisions.
🔸 Simulations: This unique feature enables users to ‘test the waters’ under different market conditions. By simulating potential scenarios, users can better understand the likely impacts of various market metrics on their financial standing.
🔸 ‘Liquidation Prices’ and ‘Collateral at Risk’: These risk-related views offer crucial insights into potential pitfalls. By monitoring these metrics, users can proactively manage their exposure and mitigate risk.
🔸 Token Prices, Volatility, Slippage, and DEX Liquidity Tracking: Stay updated on key market parameters, including token price fluctuations, market volatility, slippage, and the liquidity status of decentralized exchanges.
IntoTheBlock Moonwell Risk Dashboard: Phase I Launch And Phase II Voting Underway
Phase I Of The IntoTheBlock Moonwell Risk Dashboard Is Live!
IntoTheBlock (ITB) has successfully launched Phase I of their Moonwell Risk Dashboard, following the approval of MGP-1.
Phase I of the Dashboard includes:
🔶 Dashboards that track both general and asset-specific risk indicators. This includes monitoring liquidations, liquidity flows, and significant “whale” activities
🔶 Comprehensive API access and the ability to download CSV files for all metrics
🔶 Detailed documentation of Moonwell’s risk indicators and overall dynamics to give you a clear understanding of the risk landscape
Time To Vote: Phase II Of The IntoTheBlock Moonwell Risk Dashboard
IntoTheBlock has submitted MGP-4 to the Snapshot Portal for voting. MGP-4 is ITB’s second grant proposal and serves as a follow-up to MGP-1, submitted back in March of 2023.
The two-phase grant aims to create “a suite of risk management solutions for Moonwell and its community”, including “dashboards to monitor general and asset-specific risk indicators, API access and CSV downloads for all metrics, and documentation of Moonwell’s risk indicators and general dynamics.”
Phase II intends to introduce 10 new indicators to the dashboard, provide API/CSV access for these metrics, and extend support for Base (Coinbase’s upcoming L2).
“Moonwell Grants Program Framework” Open For Community Feedback
To build resilient decentralized infrastructure, capable of outlasting any individual or contributing team, the Lunar Technology Foundation has allocated 10% of the total WELL supply (500M WELL tokens), along with 20% of the total MFAM supply (200M MFAM tokens), for the long-term development of the Moonwell protocol and its ecosystem. This allocation, in the form of grants, should encourage proficient developers and innovative projects to contribute to Moonwell’s evolution.
Coolhorsegirl, a Moonwell Governance delegate, has created the “Moonwell Grants Program Framework” to guide those interested in submitting grant proposals. Proposals under this framework would need to pass through three distinct stages, each allowing time for community discussion and informed voting. By designing the process in this way, it ensures transparency and accountability while guaranteeing that funds are used in the best interests of the protocol and community.
Introducing New Discord Monitoring Tools For The Moonwell Ecosystem: Hermes, Eunomia And Gauntlet Network Market Alerts
The Moonwell community is thrilled to announce the arrival of three new monitoring tools in the Moonwell Discord: “Hermes”, “Eunomia” and Gauntlet Network’s “#market-alerts”. Designed to provide real-time market and governance updates, these tools will allow the community to stay abreast of everything that’s happening in the Moonwell ecosystem. Try them out and share your thoughts.
Hermes: The Market Feed Bot
Hermes resides in the #market-feed channel and aims to be the pulse of Moonwell’s markets, delivering notifications on various activities such as deposits, withdrawals, borrows, repayments, and liquidations.
Key features of Hermes include:
🔶 Moonscan Block Explorer Integration: With direct links to Moonscan, you can delve deeper into the specifics of each transaction.
🔶 Transaction Network Identifier: Instantly identify the network of the transaction, whether it’s Moonbeam or Moonriver.
🔶 Timestamp and Address Information: Quick reference points to track transactions.
🔶 Transaction Size Emojis: A system to categorize transaction sizes at a glance.
Eunomia: The Governance Voting Bot
Eunomia lives in the #governance-feed channel and focuses on keeping you informed and engaged in the Moonwell Governance processes.
Key features of Eunomia include:
🔶 New Proposal Alerts: Never miss a new Moonwell Improvement Proposal (MIP). Eunomia ensures you’re promptly notified about new proposals, allowing for timely review, discussion, and voting.
🔶 Vote Tracking: Stay informed about the voting progress on each MIP. This helps the community monitor the development of a vote and understand the consensus on each proposal.
Gauntlet Network’s Market Alerts
Gauntlet Network has introduced their own “#market-alerts” channel to provide crucial information for all community members, including indicators such as pool utilization, large user positions, and concentration risks identified by Gauntlet Network’s robust monitoring platform. With this information readily available, the community can make more informed decisions and manage their risk effectively. For more information on this alert channel, visit Gauntlet Network’s announcement on the Governance Forum.
Gauntlet Network’s Risk Parameter Updates
In May, Gauntlet Network’s MIP-50 and MIP-52 proposals were successfully executed, managing protocol risk and enhancing capitial efficiency by adjusting asset risk parameters, such as collateral factors and borrow caps.
MIP-50 Risk Parameter Updates:
Collateral Factor
- Increase the collateral factor of xcUSDT from 50.0% to 53.0%
- Increase the collateral factor of USDC.wh from 62.0% to 64.0%
Borrow Cap
- Increase the borrow cap of FRAX from 5,000,000 to 5,250,000
- Increase the borrow cap of USDC.wh from 2,100,000 to 2,600,000MIP-52 Risk Parameter Updates:
Borrow Cap
- Decrease the borrow cap of WMOVR from 335,000 to 120,000
- Decrease the borrow cap of xcKSM from 32,000 to 19,000
- Decrease the borrow cap of ETH.multi from 1,500 to 700
Liquidity Incentive Proposal Updates
MIP-47 (Artemis) and MIP-48 (Apollo) were submitted to the Governance Forum for community discussion and Governance Portal for onchain voting. These proposals were aimed to re-balance liquidity incentives across Moonwell markets, the Safety Module, and WELL & MFAM farms on Stellaswap and Solarbeam.
MIP-47 was successfully executed onchain, while MIP-48 narrowly missed the mark, with a final vote ratio of 49.52% in favor and 50.48% against. In response to MIP-48’s defeat, the community expedited MIP-49 to avoid the DEX Rewarder contract expiring. MIP-49 ultimately passed with 56.56% in favor and 42.32% against. These votes were another example of how the community’s active involvement plays an instumental role in guiding the future of Moonwell.
The Moonwell Community Launches Sprint 2 On Zealy!
This month, the Moonwell community launched Sprint 2 on Zealy. Formerly known as Crew3, this learning and gamification platform offers a unique opportunity for community members to deepen their understanding of the fundamentals underlying the Moonwell protocol while actively contributing to its growth.
As this is a community initiative, ideas and feedback on how to improve the platform are always welcome. Feel free to share your thoughts in the Zealy channel within the Moonwell Discord or participate in the ongoing discussions on the Governance Forum.
About Moonwell
Moonwell is an open lending and borrowing DeFi protocol on Base, Moonbeam, and 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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