What is Moonwell (WELL)?
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🟢 The simple version
Plain English — no jargon. Start here.
Moonwell is an Aave-style lending protocol on Base (Coinbase's L2) and Moonbeam (Polkadot), one of Base's earliest native DeFi protocols, with WELL liquidity mining incentives attracting significant TVL including Coinbase ecosystem assets like cbETH and cbBTC.
Moonwell on Base
Moonwell launched on Moonbeam (Polkadot) first, then deployed on Base in 2023 when Base launched. As a native Base protocol with early WELL liquidity mining, Moonwell attracted significant TVL before Aave deployed on Base. Supported collateral: ETH, cbETH (Coinbase staked ETH), cbBTC (Coinbase Bitcoin), wstETH, USDC, and others. WELL (~5B) is the governance + liquidity mining token. Is WELL legal in India? Yes. 30% tax, 1% TDS apply.
🟡 A bit more detail
For when you want to go a little deeper.
WELL vs Aave on Base
Aave also deployed on Base. Moonwell advantages: native deployment, earlier launch, WELL incentives, Coinbase ecosystem integration (cbETH, cbBTC). Aave advantages: larger brand, global liquidity. Both coexist on Base.
🟣 The full technical picture
For the technically curious.
Key facts
- Token: WELL (~5B, governance + liq mining)
- Chains: Base + Moonbeam
- Key assets: cbETH, cbBTC, ETH, USDC