Moonwell Lending (Optimism)
Takes as collateral: ether
A deployment of Moonwell Lending that takes ether only, beside the 2 that take bitcoin: Base, Moonbeam
Events for this venue: dated moves past a published rule and levels crossed.
What the ether is: 61.3% ether itself (ETH, WETH) · 34.3% staking tokens (wstETH, rETH, cbETH…) · 4.4% restaking tokens (weETH, ezETH…). Staking tokens count at their own contract rate; the market price is published beside it.
Collateral: the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan.
Credit secured by ether is never added to credit secured by bitcoin. An account holding both is shown as a bound in each view and added to neither.
10 of 10 criteria researched. What the criteria are →
Listed, not researched in full. This venue is read only through an aggregator, and its 30-day book has not reached the floor over the last 90 days, under the $5m research floor. Its rate and book are published as for any venue; its criteria are not researched. What the floor is →
Markets — as served, not a venue rate
One row per market, as the venue publishes them. These are market rates: combining them into a single venue rate is a weighting across this venue's markets, and choosing one here would be a methodology decision taken in a web page.
Markets whose collateral counts as ether, each token at its own contract rate. Measured the same way as bitcoin's, and never added to it.
No ether-collateral market rows are served for this venue. It runs contracts, so the absence is this dataset’s, not the venue’s.
Price
What does credit cost here, and how is the price formed?
| Rate formation | algorithmic_utilisationsourceMoonwell on OP Mainnet (chain 10) — each mToken names an interestRateModel() evaluated on cash, borrows and reserves: a function of utilisation, algorithmic_utilisation. The curve each model implements was not read. |
|---|---|
| Term structure | open_endedsourceMoonwell mToken markets on OP Mainnet (chain 10) — borrow()/repayBorrow() carry no maturity; a position persists until repaid or liquidated. |
| Rate certainty | variablesourceMoonwell mToken markets on OP Mainnet (chain 10) — each market accrues at the rate its interestRateModel() returns for the market's current cash, borrows and reserves; nothing is fixed at origination. |
Quality
What stands behind a position, and what can change under the reader?
| Oracle dependency | multiplesourceMoonwell Comptroller 0xCa889f40aae37FFf165BccF69aeF1E82b5C511B9 on OP Mainnet (chain 10) → oracle() = 0x2f1490bD6aD10C9CE42a2829afa13EAc0b746dcf (read 2026-09-30). One oracle contract prices every market, from a source per asset that governance can replace. A pooled venue's solvency depends on the feeds of every market an account has entered, not on one. |
|---|---|
| Default & liquidation | thresholdsourceMoonwell Comptroller 0xCa889f40aae37FFf165BccF69aeF1E82b5C511B9 on OP Mainnet (chain 10) — an account can be liquidated once its borrow exceeds the sum of its collateral at each market's collateral factor (markets(token).collateralFactorMantissa); a liquidator repays up to the close factor (50%) of a borrow and seizes mToken collateral. |
| Custody & backing | protocol_custodialsourceMoonwell mToken markets on OP Mainnet (chain 10) — mint() transfers the underlying to the market's own contract; the depositor holds the mToken as a claim rather than the asset. |
| Recourse | non_recoursesourceMoonwell Comptroller 0xCa889f40aae37FFf165BccF69aeF1E82b5C511B9 on OP Mainnet (chain 10) — liability is bounded by the collateral a liquidator can seize; no function pursues a borrower beyond it, and a shortfall stays in the market as bad debt. |
| Track record | 25 months observedsourceDerived from the first aggregator observation this dataset holds for the venue (defi_rates_llama, 2024-08-14; the registry holds no first_date for it). This is a LOWER BOUND on the venue's age, not the age itself: a venue trading long before the aggregator began listing it reads short here. The observer is the aggregator, not the venue's own contracts. Not typed, and not a claim about the venue's longevity. |
Composition
Who and what makes up this market?
| Collateral accepted | BTC markets (0) at a usable collateral factorsourceMoonwell Comptroller 0xCa889f40aae37FFf165BccF69aeF1E82b5C511B9 on OP Mainnet (chain 10) — getAllMarkets() and markets(token) (registry/resolution/2026-09/comptroller_forks.json; root github.com/moonwell-fi/moonwell-contracts-v2 chains/10.json). 14 markets (mUSDC, mUSDT, mDAI, mWBTC, mWETH, mwstETH, mcbETH, mrETH, mVELO, mOP, mweETH, mVELO, mwrsETH, mUSDT0), read 2026-09-30. No bitcoin market carries a collateral factor of 10% or more. Listed with a collateral factor under 10% (being wound down; it backs almost no borrowing): mWBTC 0x6e6CA598A06E609c913551B729a228B023f06fDB over WBTC 0x68f180fcCe6836688e9084f035309E29Bf0A2095 (8 decimals) — collateral factor 0.1%, 0.00366 supplied, 0.00049 borrowed. NOTE: the pool is multi-collateral, so a market's presence does not mean a given borrow is secured by it. |
|---|---|
| Book depth & concentration | unknown (no per-venue counterparty count exists in this registry or in the comparison payload, so depth and concentration cannot be established. This is a gap in THIS DATASET, not in the venue, and is a different value from `undisclosed`, which would mean the venue does not publish it.) |
| Observability | price: partial — Out of scope for bitcoin: not bitcoin collateral; read for the ether series. Read daily since 2026-10-03 from the venue's own contracts: each market's own supply and borrow rates, 9 markets on the latest day. History before the switch is rebuilt from the chain for all of them, 2024-08-19 to 2026-10-07 (weekly before 2026-04-01, daily after). A further 10 pools from the former feed are declared and not served: 10 out_of_scope (collateral that is not bitcoin). Its WSTETH, ETH, RETH, WEETH count as ether collateral (optimism custody canonical_rollup_bridge) and feed the ether credit tree (credit_tree_eth): the ether collateral and the debt against it. As of 2026-10-14. quantity: partial — Out of scope for bitcoin: not bitcoin collateral; read for the ether series. Read daily since 2026-10-03 from the venue's own contracts: supplied and borrowed totals per market, 9 markets on the latest day. History before the switch is rebuilt from the chain for all of them, 2024-08-19 to 2026-10-07 (weekly before 2026-04-01, daily after). A further 10 pools from the former feed are declared and not served: 10 out_of_scope (collateral that is not bitcoin). Its WSTETH, ETH, RETH, WEETH count as ether collateral (optimism custody canonical_rollup_bridge) and feed the ether credit tree (credit_tree_eth): the ether collateral and the debt against it. As of 2026-10-14. composition: none — Not observed: composition is loan-level and needs event ingestion, which is not planned for this venue; the daily read of market totals does not give it. As of 2026-10-14. |
What the loans are denominated in
Not yet established for this venue — which is not the same as dollars.
Backing chain
Each link from what this venue takes as collateral down to the bitcoin it rests on, in order, with how each link was established.
How a chain is read, and what it does not claim
backing_chain: the ordered claims standing between a creditor and the coins, each link derived from a sourced fact already held and carrying it in `derived_from` — the custody cell, the venue's borrow card, or wrapper_registry.yaml for who holds the bitcoin behind a token. A `representation` link has one branch per token the venue takes; branches are alternatives, not a sequence. A link nobody has established is shown with status `incomplete` and names what is missing — it is never dropped, because a missing link omitted makes a long chain look short. `undisclosed` means the party does not publish it; `incomplete` means this dataset has not established it. NEVER SCORED AND NEVER COUNTED: no length, link count or ranking is published, and none should be derived — chain length and link transparency are orthogonal (ETP-backed margin is the longest chain here and every link of it is regulated). `recourse` is what the creditor holds beyond the chain. ⚠ Tokens are identified BY SYMBOL: the wrapper registry is not keyed by chain or address, so every `representation` link carries a `deployment` step that is incomplete — whether a token is native to the chain of the venue or a bridge receipt (one more link) is not established — and a symbol the registry knows to name a different token on a venue is shown unresolved, not given that wrapper's holders.
- contract_escrow established — the protocol contract — the collateral is escrowed and neither the operator nor the borrower can move it
source
attribute · custody_model = protocol_custodialMoonwell mToken markets on OP Mainnet (chain 10) — mint() transfers the underlying to the market's own contract; the depositor holds the mToken as a claim rather than the asset. - representation incompleteno curated BTC representation is held for this venue (markets / metadata / collateral_asset)
source
The generic axis set
Identical for every venue, identically computed. An axis that cannot be computed here renders its reason — never silently omitted, because an omitted axis says it was not considered. A figure that covers only part of what the axis asks is marked, with what it leaves out beneath it. Collateral, debt and the borrow and lend rates are the tiles at the top of this page.
| Utilisation (venue roll-up) | 75.5% the pool's dollar reserves: borrowed over supplied across 3 reserve(s), on 2026-10-16 — the whole pool, not its ether book our daily direct read of the venue's contracts; not compared against a second series; quantity-gated |
|---|---|
| Intermediation margin | collecting (not read yet) — needs both a borrow and a lend rate; the borrow rate is not served here |
| Trailing realised average (7/30/90d) | collecting (not read yet) — no dollar loan at this venue cleared the gates and the $250k floor in the last 90 days |
| Rate volatility (30/90d) | collecting (not read yet) — no dollar loan at this venue cleared the gates and the $250k floor in the last 90 days |
| Spread to the pair aggregate | collecting (not read yet) — this venue has no borrow rate to compare |
| Spread to matched Treasuries | collecting (not read yet) — this venue has no borrow rate to compare |
| Origination flow | collecting (not read yet) — not yet published for credit secured by ether |
| Repayment flow | collecting (not read yet) — not yet published for credit secured by ether |
| Aggregate and distributional LTV | collecting (not read yet) — no read carries both this venue's dollar debt and its ether collateral |
| Residence distribution | collecting (not read yet) — how long positions stay open needs each loan's history; it is held for Morpho Blue and the Aave v3 chains and not yet computed |
| Liquidation incidence | collecting (not read yet) — liquidations are read from events for Morpho Blue and the Aave v3 chains, and as positions past threshold where a pool is read account by account |
| Top-10 concentration share | collecting (not read yet) — not read for ether accounts |
There is no score on this page and none will be added. The criteria are published and versioned before any venue is measured against them, and this venue's row is produced by the same pipeline as every other.
Access routes
Unknown (not surveyed yet). No one has looked for an MCP server for this venue. That is not the same as having looked and found none, and this row will not say the second while meaning the first. The listing criteria are published.
Ask for this by machine
| REST | GET https://api.bitcoincreditstack.com/v1/market/venues/moonwell_lending_optimism |
|---|---|
| MCP | get_venue({ venue_id: "moonwell_lending_optimism", collateral: "eth" }) |
The same figures, the same names and dates. Connect your AI →
How this venue compares depends on what you'd borrow, for how long, against what. That's a question for your AI, with this data behind it.
https://mcp.bitcoincreditstack.com/mcp