:yellow_circle: PGov Delegate Pitch

🟡 PGov Delegate Pitch

Revive an expired IBC client

Make Atom the interchain gas fee token

Revoke Delegation of the DAO’s Governance Tokens

Capture IBC value&hellip; Possible ?! Yes

Capture IBC value... Possible ?! Yes

Switching Moonwell&rsquo;s GLMR Market to using API3&rsquo;s OEV Enabled Data Feed for GLMR

Switching Moonwell's GLMR Market to using API3's OEV Enabled Data Feed for GLMR

Increasing governance participation (and rewarding voters) part 2

Weekly Governance Recaps

The Roadmap to a Successful GIP: Stages, Criteria, and Best Practices

Making the Hub an Investment fund for the interchain

Pixelcraft Finances Transparency Report

The Future of NounsDAO: Innovation, Governance &amp; Community GrowthProposal: Nouns Public Goods Accelerator Summary This proposal aims to establish a Nouns Public Goods Accelerator to fund, support, and promote projects that benefit the broader web3 ecosy

The Future of NounsDAO: Innovation, Governance & Community GrowthProposal: Nouns Public Goods Accelerator Summary This proposal aims to establish a Nouns Public Goods Accelerator to fund, support, and promote projects that benefit the broader web3 ecosy

Special Upcoming Core Dev Call (AMA on GIP-0070: Evolving The Graph Protocol Economics)

Aavegotchi DAO Treasury Report

Curator Onboarding Template

IIP: 192 Modify Operations Pod Representatives

Euler Rewards Update

eIP 63: Select LayerZero OFT as EUL Cross-Chain Bridge Solution

IIP-189: Launch the Index Coop USDC Yield Index (icUSD)

IIP-191: New Process For Leverage Tokens

IIP-190: Strategic Realignment: Discontinuing Support for Legacy Products

Evolving The Graph Protocol Economics (2024)

Graph Council Meeting #90

MORPHO Reward Rate Reduction

Call for Grants

Resolv and proof of reserves

MORPHO On-chain Liquidity Strategy Improvement Proposal by Native V2

Adjust Emission Scaling of dYFI

MIP 89 - Morpho Olympics v1.1

Can&rsquo;t unstake my ZRX

Can't unstake my ZRX

Enable No-Code Deployment of V3 Vaults

ws-yvETH, a 15-30%+ Yielding ETH Derivative Token

Make V3 Yearn Vaults Composable with LPs/Protocols

The BIP YIP, Bearn Finance

MIP-32: Mantle Enhanced Index Fund Governance Proposal

[DISCUSSION] Diversifying and enhancing Mantle Treasury Yield through a regulated provider

NMPIP: Repay Aave Loan Once ETH Reaches $4500

Scaling MANTLE with Bitcoin: A Strategic Proposal for Treasury Growth

Fourth Quarter (Q4) 2024 Insights | Nexus Mutual DAO

Why does the 0x Team Ignore ZRX?

RFC: Add Karpatkey as DAO Treasury Multisig Signer

Nexus Mutual DAO Treasury Updates - karpatkey

Can&rsquo;t unstake my 0x and also pressed and waited 7 days and nothing

Can't unstake my 0x and also pressed and waited 7 days and nothing

Unable to Remove Stake from Pool 41

BONUS for Nouns community

[DISCUSSION] Implementation of Mantle Governance Tracking Bot

Optimism “Intentions” Campaign Retroactive Funding - Multisig Distribution

Small Grants: Student-run theatre productions

How do I enable the use Compound to use as collateral?

Linea x Mastercard: Buying your Coffee with cTokens

[AlphaGrowth] Deploy Compound V3 on Linea

Renewal of Compound Growth Program 2025

[DISCUSSION] Asher Associates’ SAFE Proposal: Standardizing Metrics Across Platforms

Add Support for Pulsechain (Chain ID: 369)

[Discussion] Use Ethereum Distribution System to distribute Safe wallets

SafeDAO Governance Analytics Report Thread

Governance Call - Wednesday, December 4, 17:00 UTC

Update on Protocol Fee Experiment

Fund DAO Newsletters Till End of Year

[Gauntlet] - IR Curve and Incentive Recommendations for Stablecoin and WETH Comets

How to Join Our Official Discord Server

[HIP] Implement $HFT Buyback and Burn

Tipping Protocol for Increased Community Engagement

Application for KyberSwap Ambassador Program | ABDUL

Conflict of interest and a compromised Multi Sig

[DRAFT] More transparency on Revenue Share

Nouns old project and staking

Protocol design decision question: why not allow votes before drawing jury?

Automated workflow for Kleros

Welcome to Moonwell Governance!

KIP-71 Court proposal on Gnosis Chain: Humanity Court

How can Aavegotchi DAO enhance community governance participation?

:pushpin:[Grant Proposal] to scale the Island DAO from Governance to a Venture DAO for Web2/Web3 projects in the Caribbean, CARICOM, &amp; the diaspora

📌[Grant Proposal] to scale the Island DAO from Governance to a Venture DAO for Web2/Web3 projects in the Caribbean, CARICOM, & the diaspora

Who can build DEX platform?

[Discussion] VSP Buybacks + Emissions Update

KIP-66: Long-Term Juror Incentive Program

The Mechanics of Allocating and Slashing Unique Stake

Clydesdale Vault HQ

Solved by Maker DAO

Stability Scope Parameter Changes #16 [SFs, SSR, DSR, Spark Effective DAI Borrow rate changes]

Rocky Aligned Delegate Recognition Submission

What&rsquo;s next for Sky Launch (Article on X)

What's next for Sky Launch (Article on X)

Where to Get Support

Missed to claim season 1

Introducing the Eigen Labs Research Team

PSV Tutorial

[RFC] Prepare EVK Factory For Pause Guardians

Arbitrum STIP Liquidity Mining Schedule Sep 12- Sep 18

DIP068 - Proposed Parameter Update for sUSX and USX Vaults

USX Full Demo

How to bridge USX

Proposal for Gitcoin Rounds development

Thoughts on GG20 and GG21

[TEMP CHECK] 6.9m GTC Citizens Fund

Galaxy Infra - Aug 2024

Discontinuation of Aragon UI use

Pol Lanski Delegate Thread

Establish a Public Delegate Platform and Delegate Incentivization Program

Our first round. Outstanding effort and help from LATAM

RFC: New vault with charitable component

Decentralised naming for wallets, websites, and more

Ethereum Name Service

Decentraland is a decentralized virtual reality platform powered by the Ethereum blockchain. Within the Decentraland platform, users can create, experience, and monetize their content and applications.

Decentraland

Cross-chain swapping dApp, powered by RenVM

Varen Finance is an Ethereum based multi-chain DeFi hub and a community-governed DAO. We build user-friendly DeFi products to enable an interoperable and multi-chain world. Varen Finance is led by a core team of community members that have taken over the project via formal DAO processes.

Varen is partnered with Ren protocol and together with Ren Labs ecosystem projects will continue to build out cross-chain infrastructure, with a heavy emphasis on community and retail friendly user experience.

Varen

The most trusted platform to manage digital assets on Ethereum. Enter the Multisig. Safe is a smart contract wallet running on Ethereum that requires a minimum number of people to approve a transaction before it can occur 

Safe

A supportive ecosystem of creators and builders at the forefront of web3 and DAO

MetaCartel

Trade any asset on any chain in seconds. No deposits. No BS.

Hashflow

Gearbox is a generalized leverage protocol. It allows you to take leverage and then use it across other DeFi protocols and platforms in a composable way.

Gearbox Protocol

Status is a secure messaging app, crypto wallet, and Web3 browser built with state of the art technology.

status

Tempus is building the most important blocks of DeFi and Web3 in a way that’s scalable and accessible to all

Tempus Finance

The easiest way to power Web3
Now anyone can run decentralized networks like Ethereum and Bitcoin and earn rewards. Zero hassle, it just works.

Dappnode

Sushi is a decentralized exchange protocol. While originally launching as a Uniswap fork, the project's community has since developed a wide range of features that make use of decentralized liquidity pools. The protocol's native token, SUSHI, can be staked in order to claim a part of the protocol's fees.


Sushi

Celestia is a modular data availability network that securely scales with the number of users, making it easy for anyone to launch their own blockchain.

celestia

Cosmos, known as the Internet of Blockchains, is a decentralized network of independent, scalable, and interoperable blockchains. It aims to solve the problems of scalability, usability, and interoperability in the blockchain space. Cosmos facilitates the development of blockchains that can transact and communicate with each other within a secure and standardized ecosystem, powered by its consensus model, Tendermint. 

This approach allows for a wide range of applications, including decentralized finance (DeFi), token exchanges, and more, fostering a more interconnected and efficient blockchain landscape.


cosmos

AI-powered dashboard that analyzes on-chain data, trade volume and price trends to discover tokens that would likely trend in the near future.

KyberSwap

Aptos is the layer 1 blockchain engineered to evolve.⁣

aptos

Compound is a decentralized autonomous interest rate protocol. It allows people to lend and borrow their cryptocurrencies, and establishes money markets by algorithmically setting interest rates based on supply and demand of various assets. Its native token is COMP, allowing holders to propose and vote on changes made to the protocol.

Compound

EigenLabs is a research organization focused on contributing to protocols that supercharge open innovation on Ethereum.

EigenLayer

Buy, sell, and swap NFTs instantly. Deposit NFTs to earn yield (but you may not get the sames ones back).

NFTX

BitDAO is a collective of builders and stakeholders enabling mutually beneficial Web3 ecosystems of people, products, and public goods.


BitDAO

Manifold Finance enables and provides access to high-value transaction pools on EVM compatible chains, through our infrastructure: SecureRPC. We aggregate multiple endpoints along with maintaining direct access to disparate mining pools/validator nodes.

manifold finance

Stake ETH across multiple protocols at once

Restaking enables staked ETH to be used as cryptoeconomic security for protocols other than Ethereum, in exchange for protocol fees and rewards.

eigenlayer

Kleros is a decentralized dispute resolution protocol for use on smart contract platforms, which has been implemented on Ethereum.
It acts as a decentralized third party capable of providing decisions on the correct result when applying a set of rules to questions ranging from simple to highly complex.

Kleros

L2BEAT is a research website for Ethereum layer two scalability solutions. 

L2 beat

### What

Lido is an open source tool and family of protocols that enables users to mint liquid staking tokens (sTokens) - These liquid staking tokens receive rewards from validation activities of writing data to the blockchain, but unlike their staked counterparts, are "unlocked" which means they can be used in other on-chain activities, like DeFi. 

Lido protocols let users stake native tokens (ETH, MATIC, SOL) from Ethereum, Polygon, and Solana networks in a fully permissionless way. And as the protocols are deployed on public blockchains, users do not need the website to access the smart contracts.

### Why

Traditional staking means that users need to lock-up their ETH or other native asset to be able to secure the network and receive the respective rewards. However, this means that these tokens can't be used for anything else while they are staked. Lido aims to solve this problem. 

Lido protocols give users liquidity - users are able to receive staking rewards from validation activities, but can sell their stTokens (tokens minted on Lido) anytime they want to exit their staking position. 

In addition, it allows users to participate in DeFi while getting rewards - Because sTokens are unstaked and thus "liquid", users can use stTokens as building blocks in DeFi protocols at the same time as getting staking rewards from validating activities.

The Lido DAO also works with experienced node operators, which decreases the likelihood of technical mistakes that could lead to slashing or penalties and minimizes the technical burden for users to receive staking rewards. Users supply the stake, and the node operators supply the know-how.


Lido

### What

Euler is a non-custodial permissionless protocol on Ethereum that allows users to lend and borrow almost any crypto asset. Euler helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third-party.

### Why?

Euler introduces a number of new features in DeFi, including permissionless lending markets, protected collateral, reactive interest rates, per-second compounding interests and feeless flash loans.

#### Permisionless listing 

Euler lets its users determine which assets are listed. Any asset that has a WETH pair on Uniswap v3 can be added as a lending market on Euler.

#### Protected Collateral

On Compound and Aave, collateral deposited to the protocol is always made available for lending. On the other hand, Euler allows collateral to be deposited, but not made available for lending.  This collateral is 'protected'. It doesn't earn interest, but is free from the risks of borrowers defaulting, can always be withdrawn instantly, and helps protect against borrowers using tokens to influence governance decisions.

#### Reactive interest rates

Euler uses control theory to autonomously change the interest rates towards a level that maximises utilisation of assets in the protocol. These reactive interest rates adapt to market conditions for the asset in real-time without the need for ongoing governance intervention. 

#### Compound Interest

Compound interest is accrued on Euler each second. This is different from other lending protocols, where interest is typically accrued every block. Earning interest per-second is generally expected to perform more predictably in the long-run, even if upgrades to Ethereum lead to changes in the average time between blocks.

#### Feeless Flash Loans 

Euler only charges fees according to the time value of money, and from the blockchain's perspective flash loans are held for a duration of 0 seconds. Thus, they are entirely free on Euler (ignoring gas costs).


Euler Finance

We’re a community of finance professionals, engineers, DeFi experts, meme-makers, content marketers and crypto enthusiasts focused on making crypto investing simple. 

Together we launch, grow, and maintain the most trustworthy crypto indices on the market.

index Coop

Sky enables users to get rewarded for non-custodial saving.

The Yield Protocol. 

Yearn is a decentralized suite of products helping individuals, DAOs, and other protocols earn yield on their digital assets.


Yearn

Nexus Mutual protocol and token can be used to buy insurance cover, vote on governance decisions, and participate in Risk and Claims Assessments. It is also used to encourage capital provision and represents ownership to the mutual’s capital. As the mutual’s capital pool increases, the value of NXM will increase as well. 

Nexus Mutual

DEFI 🤝 NFTS
DEEP LIQUIDITY AND HIGH YIELD STRATEGIES FOR NFTS.


Floor DAO

Kyber Network is a multi-chain crypto trading and liquidity hub that connects liquidity from different sources to enable trades at the best rates.

Kyber

Millions in open source project funding. We've helped thousands of projects and teams grow their open source ecosystems.

gitcoin

Paraswap aggregates decentralized exchanges and other DeFi services in one comprehensive interface to streamline and facilitate users' interactions with Ethereum's decentralized finance.

Paraswap

Nouns are an experimental attempt to improve the formation of on-chain avatar communities. While projects such as Cryptopunks have attempted to bootstrap digital community and identity, Nouns attempt to bootstrap identity, community, governance, and a treasury that can be used by the community.

Nouns

Mantle Network is dedicated to building an EVM-compatible scaling solution for Ethereum. This means that all contracts and tools running on Ethereum can operate on the Mantle Network with minimal modifications. Taking advantage of its modular architecture, Mantle Network combines an optimistic rollup with various innovative data availability solutions, providing cheaper and more accessible data availability while inheriting the security of Ethereum.

Mantle

Moonwell

Build your Decentralized Autonomous Organization on open-source infrastructure with governance plugins

Aragon

Bankless is a movement for Web3 pioneers

We seek new ways to build wealth, solve human coordination problems, create culture, and develop cutting-edge thought leadership in the crypto space. Going Bankless means taking control of your financial health by adopting decentralized and permissionless money systems. Bankless is the movement educating the world on how to do it.


BanklessDAO

Vesper is a platform for easy-to-use DeFi products. More than 50 audits, 20 strategies, 40 pools, and more.

Vesper's DeFi products deliver ease-of-use in achieving your crypto-finance objectives. The Vesper token (VSP) is the core economic engine that facilitates the building and expansion of Vesper’s capabilities and its community. 

Vesper Finance

dForce is a decentralized finance (DeFi) platform that focuses on creating an integrated and interoperable financial ecosystem. It offers a variety of DeFi services including asset protocols, lending, and trading, aimed at facilitating a decentralized monetary system. The platform is designed to support a comprehensive DeFi infrastructure.


dForce

Morpho Blue is a decentralized protocol enabling the overcollateralized lending and borrowing of crypto assets (ERC20 Tokens) on the Ethereum Virtual Machine. The protocol is implemented as an immutable smart contract, engineered to serve as a trustless base layer for lenders, borrowers, and applications.


Morpho

0x API is a professional grade liquidity aggregator enabling the future of DeFi applications.

The Graph is an indexing protocol for querying networks like Ethereum and IPFS. Anyone can build and publish open APIs, called subgraphs, making data easily accessible.


The Graph

PoolTogether is a crypto-powered savings protocol based on Premium Bonds. Save money and have a chance to win every day.


PoolTogether

Aavegotchi is a DeFi-enabled crypto collectibles game developed by Singapore-based Pixelcraft Studios that allows players to stake Non-fungible tokens (NFTs) avatars with interest-generating tokens and interact with the Aavegotchi metaverse. It is a unique combination of Decentralized Finance (DeFi) and NFTs.

Aavegotchi

## **Summary**
This proposal is a continuation of [MIP-X05](https://moonwell.fi/governance/proposal/moonbeam?id=140), and aims to further enhance governance participation and bolster Moonwell's Safety Module by directing excess protocol revenue toward staking rewards. Currently, Moonwell generates significant protocol revenue, with $386.1K in revenue and over $2.1M in fees for lenders in December 2024 alone. However, this revenue remains idle as reserves in the core markets.
We would like to propose an **onchain auction system** where excess protocol revenue is auctioned for WELL tokens, which are then allocated to the Safety Module Ecosystem Reserve. This approach will:
- **Increase staking rewards for WELL stakers in the Safety Module**
- **Enhance security through greater shortfall insurance and fostering stronger governance engagement**
- **Encourage continued governance participation**
We seek to gauge community sentiment through this snapshot temperature check vote before moving forward with an onchain vote in the next week. Please also review the [associated forum post](https://forum.moonwell.fi/t/increasing-governance-participation-and-rewarding-voters-part-2/1525/) for additional details and to share any thoughts, questions, or concerns that you may have.
---
## **Moonwell Protocol Revenue Generation**
### **Current Revenue Growth**
Moonwell is one of the **top revenue-generating protocols** across all deployed networks. In December 2024 alone, the protocol generated **$386.1K in revenue** and over **$2.1M in fees for lenders.** Until now, that protocol revenue has been largely idle, stored in **core markets as reserves**, which act as extra liquidity to facilitate user withdrawals.
![Revenue Chart](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/6/6d8c545e04699ff1aad8d05f45ab79e4e0a6da56.png)
### **New Sources of Revenue**
New revenue sources have come online in recent weeks and months that should continue to increase protocol revenue, primarily in three areas:
- **Vault Performance Fees:** Moonwell’s Flagship and Frontier vaults generate performance fees, captured as protocol revenue and added to core market reserves. The retail borrowing demand for USDC from Coinbase Bitcoin borrowers is expected to significantly increase these fees in the coming months as their new borrow product continues to be rolled out to more users.
- **Oracle Extracted Value (OEV):** A [pilot for Oracle Extracted Value](https://moonwell.fi/governance/proposal/moonbeam?id=153) launched on Optimism. Once proven successful, it will be put up to a vote to expand to Base and Optimism markets, significantly increasing protocol revenue. According to [IntoTheBlock data](https://defirisk.intotheblock.com/metrics/base/moonwell), liquidators have made **$2.09M in profit from Base core market liquidations alone**. With the new OEV solution, **99% of that could be recognized as protocol revenue**.
- **Leveraged Bitcoin Restaking Markets:** New markets for Lombard BTC and the cbBTC Frontier vault have positioned Moonwell as the **premier venue for leveraged Bitcoin restaking**, increasing TVL and revenue in the coming months.
### **Why This Matters**
Moonwell has focused relentlessly on **capital efficiency, fee capture, and revenue growth**. Notably, much of Morpho’s TVL originates from Moonwell’s vaults, though DeFi Llama does not attribute that TVL to Moonwell. However, what truly matters is capital efficiency and revenue generation, and Moonwell generates more revenue per $ of TVL than any other lending app on Base.
## **Where Should This Revenue Go?**
### **The Case for Safety Module Rewards**
For years, DeFi protocols have debated how to allocate excess revenue effectively. Many options carry excessive regulatory risk, making them unfeasible. After months of consultation with top legal experts, Moonwell contributors have come up with what we believe to be a sustainable mechanism that aligns all stakeholder incentives.
As a continuation of the effort to increase governance participation, we propose that **excess protocol revenue be auctioned for WELL tokens and allocated to the Safety Module Ecosystem Reserve.**The Ecosystem Reserve is a smart contract that holds protocol reserves and is currently used to reward [Safety Module](https://docs.moonwell.fi/moonwell/moonwell-overview/stake) stakers for their role in shortfall insurance and governance participation.
To achieve this, Moonwell contributors propose implementing **onchain auctions** via smart contracts:
- Excess ETH, USDC, cbBTC, wstETH, cbETH, rETH, AERO, and other reserves will be auctioned for WELL.
- The acquired WELL will be transferred to the Safety Module Ecosystem Reserve to bolster staking rewards.
---
### **How the Auction System Works**
This system introduces a new **onchain auction contract** that allows WELL tokens to be used in exchange for reserve assets. The contract will conduct **multiple mini-auctions** throughout each cycle, selling reserve assets over time. This approach:
- **Averages out sale prices** over time, effectively emulating a TWAP (Time-Weighted Average Price) strategy.
- Uses a **linear decay function** that initially applies a **premium**, then gradually introduces a **discount** relative to the Chainlink price.
- **Caches prices** at each step to ensure a structured, predictable auction process.
- Sends proceeds to the **WELL Holding contract**, which can then be used to fund the **Safety Module via governance proposals.**
### **Step-by-Step Walkthrough**
Here’s how the process will work:
![Auction Overview](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/optimized/2X/1/1e6bbcc7e72841f4e76ccc83c36d242fdaee2e0f_2_1380x812.png)
1. **Automated Governance Proposal:** The governance proposal that rebalances liquidity incentives will include additional calls to withdraw excess protocol revenue to the Governor smart contract.
   - While the example focuses on WETH and USDC, this process applies to all relevant markets.
2. **Token Transfer to Auction Contracts:** The same governance proposal will transfer WETH, USDC, and other tokens to separate auction contracts for each asset, initiating a fully onchain, decentralized auction.
   - Auctions begin with 100% of the assets (WETH, USDC, etc.), and by the end of a two-week period, they will be converted to 100% WELL.
3. **Auction Mechanics:**
   - The total auctioned tokens are divided into 84 equal mini-auctions, each lasting 4 hours.
   - Each mini-auction starts above the Chainlink price and slowly decays over 4 hours until a market participant (typically a MEV bot) swaps WELL for the asset.
   - By splitting the auction into 84 time-weighted auctions, the system ensures optimal price execution while avoiding unnecessary swap fees and gas costs.
4. **Final Settlement & Distribution:**
   - Four weeks later (two weeks after the auctions end), the next automated liquidity incentive proposal will transfer the acquired WELL to the Safety Module Ecosystem Reserve.
   - Governance will then adjust the staking rate to enable the higher staking reward APR.
5. **Claiming Staking Rewards:**
   - Safety Module stakers can claim rewards at any time, as they do currently.
   - No structural changes to the Safety Module architecture are proposed—the Ecosystem Reserve was designed for this purpose.
### **Determining Safe Reserve Withdrawal Levels**
A key question is **how much of each market's reserves should be allocated to these auctions?**
- Input from Gauntlet and other risk experts is critical in establishing safe reserve thresholds for each core market.
- These thresholds should be dynamic—if market conditions shift significantly, Gauntlet and other contributors can provide updated guidance, which can then be reflected in governance reward speed proposals.
---
## **Projected Impact on Staking Rewards**
How much would this bolster Safety Module staking rewards?
![Staking Rewards Impact](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/optimized/2X/f/fd2d81a733ce9aa14ff9025c4611b8d451adfad3_2_1380x700.png)
- In **December 2024**, the [automated liquidity incentives proposal](https://moonwell.fi/governance/proposal/moonbeam?id=150) allocated **4,394,963.08 WELL** to Safety Module stakers on Base.
  - At today’s price of **$0.039**, that equates to **~$171,403.56 in rewards** and a **7.42% APR.**
- In **December 2024,** Moonwell also generated **~$352,777** in protocol revenue on Base, according to [Token Terminal](https://tokenterminal.com/explorer/studio/dashboards/e713fb3f-c10b-45ed-93d4-4e48779dd849).
Redirecting protocol revenue to **Safety Module stakers could increase staking rewards by an estimated 3.06x, boosting APR to 22.71%.**
> **Note:** Estimates are subject to market conditions and may vary.
---
## Open Questions
* For Gauntlet, BlockAnalitica, B. Protocol, and other risk-focused contributors: what should we keep in each market as a healthy level of reserves?
* Should we fully distribute all the WELL obtained through the auctions to Safety Module stakers every 4 weeks, or should the staking APR be capped at some lower level, such as 20%?
  * Some contributors have proposed capping the staking APR at 20%, which would allow some WELL to stay in the Safety Module Ecosystem Reserve, which would be beneficial to keep the staking APR high during bear markets, or to further bolster the shortfall insurance.
* What challenges or issues do you see with this proposal?
---
## **Voting Options**
✅ **Yay** – Support implementing the above model to auction excess protocol reserves into staking rewards, strengthening governance participation and shortfall insurance.
❌**Nay** – Do not implement this change.
⚪**Abstain** – No preference on the decision.

Bolstering Moonwell's Safety Module: Rewarding Stakers via Reserve Auctions

### PR with Payload
https://github.com/BalancerMaxis/multisig-ops/pull/1715

>## Summary
>
>This publication proposes creating a new gauge for the Boosted GHO/PYUSD Pool on Ethereum.
>
>This pool is to be considered “core pool”, meaning the protocol fees earned by these pool would be used to bribe for votes on it.

>## Motivation
>
>With both Buffer Pools adequately funded, this publication proposes enabling the gauge. 
>
>Balancer v3 - Boosted GHO / PYUSD
>
>Each asset is deployed into Aave v3 to earn yield.
>
>* GHO into Aave Prime
>* PYUSD into Aave Core
>
>The PYUSD deposits into the Core instance of Aave v3 will benefit from the ongoing liquidity mining program with [4.00% yield](https://governance.aave.com/t/arfc-pyusd-reserve-configuration-update-incentive-campaign/19573) being provided until a target of 75M in deposits is achieved. 
>
>Details relating to GHO and PYUSD specifically are well documented in [previous gauge submissions](https://forum.balancer.fi/t/bip-736-enable-gho-pyusd-e-clp-gauge-ethereum/6202). 

>## Specification
>
>Enable Gauge
>
>The Balancer Maxi LM Multisig `0xc38c5f97B34E175FFd35407fc91a937300E33860` will interact with the GaugeAdderv4 at `0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd` and call the `addGauge` function with the following arguments based on the table above:
>
>Pool address: `0x64B84023CfE8397dF83C67eACCC2C03ecDA4aeE5`
>Gauge(address): `0x6C0a4550C575C917435F228D36939125A437a98b`
>Rate Providers: `0x851b73c4BFd5275D47FFf082F9e8B4997dCCB253`
>GaugeType(string): Ethereum

>## Disclosure
>
>TokenLogic does not receive any payment for this proposal.

># Copyright
>
>Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).

Boosting DeFi stakeholders' yield potential and governance power
