Moonwell
What is Moonwell?
Moonwell is an open, non-custodial lending and borrowing protocol operating across multiple blockchain networks, including Base, Moonbeam, and Moonriver. Designed to simplify decentralized finance (DeFi) interactions, Moonwell offers users an intuitive platform to supply and borrow digital assets securely and efficiently.
Key Features
- Multi-Chain Deployment: Moonwell is deployed on Base, Moonbeam, and Moonriver, leveraging the scalability and interoperability of these networks to provide a seamless DeFi experience.
- User-Friendly Interface: The platform emphasizes accessibility, catering to both newcomers and experienced users with its straightforward design and functionality.
- Robust Security Measures: Moonwell undergoes regular smart contract audits by reputable firms such as Halborn and Code4rena. Additionally, it employs risk management services from Gauntlet and Warden, and maintains a bug bounty program through Immunefi to ensure platform integrity.
- Community Governance: Governance of the protocol is driven by WELL token holders, allowing the community to propose and vote on changes, fostering a decentralized decision-making process.
Native Token: WELL
The WELL token serves as Moonwell's native utility and governance token. It is utilized for voting on protocol upgrades and decisions, incentivizing participation, and can be staked to earn rewards. Additionally, Moonwell introduces xWELL, an xERC20-compatible token designed for cross-chain functionality, enabling seamless asset transfers across supported networks.
Integration with Cryptoworth
Moonwell integrates with Cryptoworth to enhance financial clarity in digital asset accounting workflows. This integration allows users to efficiently track, categorize, and report transactions within the Moonwell ecosystem, ensuring accurate financial reporting and compliance with accounting standards.
Getting Started with Moonwell
- Connect a compatible wallet, such as MetaMask, to the Moonwell platform.
- Select the desired network (Base, Moonbeam, or Moonriver) within the application.
- Supply supported assets to earn interest or borrow assets by providing appropriate collateral.
- Participate in governance by staking WELL tokens and voting on protocol proposals.
For more information, visit the Moonwell website.
