As Onchain Summer draws to a close, Moonwell has made remarkable progress on Base, showcasing key achievements and integrations that are reshaping the world of onchain finance. Let's explore how Moonwell helped bring more people, innovative solutions, and financial opportunities to Base’s thriving onchain economy this summer.

What is Onchain Summer?

Onchain Summer is an annual event on Base that celebrates the innovations of onchain communities building on the network. From showcasing onchain music, art, and gaming to supporting local businesses that offer onchain payments, Onchain Summer is a celebration of the endless possibilities within the decentralized space.

This year’s Onchain Summer resulted in over $5M in onchain revenue for builders, 2M+ unique wallets participating in various onchain experiences, and 24M+ onchain assets minted. OCS highlights how the power of onchain puts ownership back in the hands of creators while inviting people from all over the world to participate in Base’s growing onchain economy.

Bridging the Gap with Smart Wallet

Moonwell's recent integration of Coinbase’s Smart Wallet marks a significant leap towards simplifying onchain finance. Smart Wallet makes interacting with Moonwell simple, reducing barriers to entry and enhancing the overall user experience.

As Base continues to work towards bringing a billion people onchain, these integrations are essential in making the expanding onchain economy more accessible and user-friendly, catering to everyone — whether they're seasoned crypto veterans or entirely new to onchain.

Moonwell Vaults: Simplified Lending for All

Powered by Morpho’s trustless and immutable lending infrastructure, and curated by Block Analitica and B.Protocol, Moonwell Vaults deliver optimized risk-adjusted returns for depositors while maintaining the familiar simplicity of the Moonwell app.

With over $40M in deposits, these vaults demonstrate not only the community's confidence in Moonwell and Morpho but also highlight the growing appetite for simple, yet powerful onchain lending solutions.

As people seek out ways to do more with what they have onchain, Moonwell Vaults stand out as a preferred choice for those looking to maximizing returns without compromising on ease of use.

Generating Value in the Onchain Economy

Moonwell's impact on Base is undeniable, having generated $3.5M in fees and $830K in revenue during Onchain Summer alone. These impressive figures underscore Moonwell's key role in driving the growth of the onchain economy.

By delivering value to both users and the broader ecosystem, Moonwell is laying the foundation for a stronger financial infrastructure on Base, opening the door to greater innovation and economic freedom.

Expanding the Ecosystem

Moonwell's commitment to innovation is evident through its recent integrations and features:

• Morpho Isolated Markets: By integrating Morpho’s Isolated Markets, Moonwell now offers enhanced liquidity and additional lending and borrowing options, creating a more dynamic and flexible financial ecosystem.

• AERO Market Activation: The activation of the AERO market on Moonwell has opened up exciting new opportunities for lending and borrowing. As the largest protocol by Total Value Locked on Base, Aerodrome has seen tremendous growth since its launch in August 2023, with its AERO token playing a crucial role in incentivizing the continued adoption of Base.

• weETH Market Activation: The Moonwell community recently voted to onboard weETH, ether.fi’s Liquid Restaking Token (LRT) on Base, marking the first LRT added to Moonwell. This provides greater flexibility for ETH stakers and dabblers to leverage their weETH in the broader onchain economy on Moonwell and other protocols such as Aerodrome.

Recognition and Community Engagement

Moonwell's contributions have not gone unnoticed. Moonwell was awarded 80,156.8 OP tokens as part of Optimism’s RetroPGF 4, recognizing our positive impact on the broader Superchain ecosystem. Additionally, Moonwell's feature in the Coinbase Onchain Summer Shop and its Layer3 Smart Wallet quest further demonstrate our growing influence and commitment to user engagement, bringing more people into the fold of onchain finance.

Championing Onchain Governance

With 13 onchain proposals on Base, Moonwell is at the forefront of decentralized decision-making. This commitment to community-driven governance aligns perfectly with Base's vision of a truly decentralized future. By actively involving everyday people in the protocol's evolution, Moonwell is fostering a sense of ownership and collaboration within the community, embodying the principles of decentralization that are at the heart of the onchain movement.

Looking Ahead: The Future of Onchain Finance

Moonwell's achievements during this year’s Onchain Summer are just the beginning. As Base continues working towards its ambitious goal of bringing a billion people onchain, apps like Moonwell play a crucial role in creating the infrastructure and services needed to support this vision.

Moonwell's Onchain Summer milestones showcase the exciting possibilities of onchain finance. By creating simple yet powerful tools that everyone can use, Moonwell is not just participating in the onchain revolution — it's helping to lead it.

Join us in the Moonwell community today. Together, we can build a future where financial services are open, transparent, and accessible to all. Find us at moonwell.fi, and connect on social — X and Discord.