WELL Transparency Report
Last updated
Last updated
Moonwell's native governance token, WELL, empowers community members to actively shape the protocol's future. By delegating WELL to an ERC-20 wallet address, community members have the ability to vote on and submit both Snapshot and onchain proposals, otherwise known as Moonwell Improvement Proposals. This report provides comprehensive information about the WELL token, its initial distribution, and recent upgrades.
Name: WELL
Total Supply: 5,000,000,000
Decimals: 18
Token Contract (Moonbeam): 0x511aB53F793683763E5a8829738301368a2411E3
Token Contract (Base): 0xA88594D404727625A9437C3f886C7643872296AE
Token Contract (Optimism): 0xA88594D404727625A9437C3f886C7643872296AE
As of April 3rd, 2024, WELL has been upgraded to the xERC20 token standard. This upgrade brings several benefits:
Multichain Functionality: The xERC20 standard allows WELL to operate seamlessly across multiple blockchain networks.
Improved Governance: Enables unified governance across bespoke networks, allowing token holders to participate in the Moonwell DAO regardless of their preferred network.
Enhanced Interoperability: The xERC20 standard facilitates easier integration with various DeFi protocols and applications.
Future-Proofing: Prepares WELL for potential expansion to other Layer 1 and Layer 2 networks.
Governance Participation: WELL holders can vote on and submit both Snapshot and onchain Moonwell Improvement Proposals or choose to delegate their voting power to another DAO member who may vote on their behalf.
Staking Rewards: WELL can be staked in the Moonwell Safety Module to self delegate voting power and receive additional rewards for helping to backstop the protocol.
Protocol Safeguard: The Safety Module acts as a safeguard for the Moonwell protocol in the event of a shortfall event.
Liquidity Incentives: Incentives for liquidity providers, WELL stakers, and ecosystem participants to be allocated over a 4 year period beginning June 2022.
Long-Term Protocol & Ecosystem Development: Grants for protocol improvements, DAO governance, and ecosystem growth.
Application Development: Reserved for ongoing application development and support.
Bootstrap: Initial protocol development and audits.
Private Sale: Early token purchasers.
Strategic Sale: Additional sales at public sale valuation.
Public Sale: Tokens allocated for public purchase by eligible participants.
Key Partners: Allocation for strategic partnerships and external project support.
Advisors: Compensation for expert advisors providing periodic support.
Founding Contributors: Tokens allocated to founding contributors.
Core Contributors: Allocation for current and future core contributors.
Note: This report is for informational purposes only and should not be considered financial advice. Always conduct your own research before making investment decisions.
| Category | Allocation | Amount (WELL) | Vesting Schedule | Vesting Status |
|---|---|---|---|---|
| Category | Allocation | Amount (WELL) | Vesting Schedule | Vesting Status |
|---|---|---|---|---|
| Category | Allocation | Amount (WELL) | Vesting Schedule | Vesting Status |
|---|---|---|---|---|
Liquidity Incentives
19.35%
967,500,000
N/A
N/A
Long-Term Protocol & Ecosystem Development
10.00%
500,000,000
N/A
N/A
Application Development
20.28%
1,013,965,671
N/A
N/A
Bootstrap
8.00%
400,000,000
1 year lock, 1 year monthly vest
Complete
Private Sale
11.49%
574,320,018
1 year lock, 1 year monthly vest
Complete
Strategic Sale
1.86%
93,200,682
1 year lock, 1 year monthly vest
Complete
Public Sale
9.02%
451,013,629
10% unlock, 1 year monthly vest
Complete
Key Partners
8.00%
400,000,000
1 year cliff, 2 year monthly vest
Vesting
Advisors
1.50%
75,000,000
1 year cliff, 6 month monthly vest
Complete
Founding Contributors
8.00%
400,000,000
1 year cliff, 2 year monthly vest
Vesting
Future Contributors
2.50%
125,000,000
N/A
N/A
