Moonwell Activates Multichain Governance Upgrade on Ethereum, Optimism, Base, and Moonbeam
Moonwell has activated a major upgrade to its multichain governance system, now spanning Ethereum, Optimism, Base, and Moonbeam. The upgrade enables proposals to scale beyond a single Ethereum transaction, stores proposal text in IPFS, and allows WELL holders to vote on any network.
As we approach our 4 year anniversary, a major milestone was reached: the activation of @MoonwellDeFi on @Ethereum. Protocol upgrades now have the economic security of Ethereum, as well as significant improvements to the already best in class multichain governance system. 🌜🧵🌛 https://x.com/14721
Moonwell can upgrade itself through onchain governance across 4 networks: @Ethereum, @Base, @Optimism mainnet, and @MoonbeamNetwork with a single proposal. WELL holders can vote on any network. This unlocks upgrades that activate on multiple networks at the same time. https://x.com/147219749184402
Decentralized multichain governance is a key innovation from Moonwell contributors. This version improves: - Proposals now have the ability to scale beyond a single Ethereum tx and automate more things 📈 - Proposal text is stored in IPFS to eliminate storage constraints 🌎