Represents value derived from indirectly influencing the decision-making in the Moonwell community governance by delegating the voting power to a suitable representative.
Represents value derived from controlling the decision-making in the Moonwell community governance by directly voting on proposals.
The Moonwell governance is split into an offchain and an onchain part, implemented via the long since standard Improvement Proposal mechanism.
Proposals that do not require upgrades or changes to the Moonwell codebase utilize Snapshot voting.
MIPs, which can be created by any user with voting power exceeding the current proposal threshold, are voted for on-chain for three days after the proposal creation. The scope of these proposals are codebase changes and contract upgrades.
WELL is used as the sole token accepted as currency for the reserve auctions conducted every 6 hours, which allow the users to purchase reserve tokens (USDC, WETH, cbETH, &c) at a variable discount compared to the present market rates.
Moonwell possesses a Safety Module where the users can stake their tokens (WELL among the accepted) to provide insurance to the protocol against shortfalls. In return, they receive an allocation of $WELL rewards.