🌙Tokens

Moonwell is an open lending and borrowing protocol that offers two primary tokens: WELL and MFAM. These tokens serve various functions within the Moonwell ecosystem, including governance and staking.

WELL Token

Networks

Moonbeam
Base
- There are two variants of the WELL token on Base:
  - WELL: This variant is based on the xERC20 token standard, enabling multichain functionality. The standard allows the token to natively exist on Base.
  - Wormhole WELL: This variant has been deprecated.
    Migration FAQ

Contract Addresses

WELL (Moonbeam): 0x511aB53F793683763E5a8829738301368a2411E3
WELL (Base): 0xA88594D404727625A9437C3f886C7643872296AE
Wormhole WELL (Base): 0xFF8adeC2221f9f4D8dfbAFa6B9a297d17603493D

Token Distribution

WELL Transparency Report

MFAM Token

Network

Moonriver

Contract Address

MFAM (Moonriver): 0xBb8d88bcD9749636BC4D2bE22aaC4Bb3B01A58F1

Token Distribution

MFAM Transparency Report

Key Functions

1. Governance

The WELL and MFAM tokens grant holders the authority to participate in the governance of the Moonwell protocol. Token holders can submit and vote in onchain "Moonwell Improvement Proposals" and Snapshot Voting within Moonwell Governance.

WELL: Governs the Base and Moonbeam deployments of Moonwell.
MFAM: Governs the Moonriver deployment of Moonwell.

2. Staking

Token holders can stake WELL or MFAM tokens within the Moonwell Safety Module. This module, implemented as a smart contract, rewards stakers for their role in helping to support protocol security.