Moonwell is a multi-chain lending protocol on Base, Optimism, and Moonbeam. WELL holders participate in governance via Snapshot and on-chain proposals.
### **Summary** This proposal seeks to use protocol reserves on Base to cover approximately $1.7M in bad debt resulting from the October 10th flash-crash event caused by extreme market dislocation and oracle mispricing. The goal is to restore full solvency and maintain the overall health of the protocol. ### **Background** On October 10th, extreme cross-venue price dislocations allowed an attacker to: - Flash-loan cbBTC/USDC - Use these as collateral - Borrow VIRTUAL, MORPHO, and AERO at...
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