Moonwell Supply

Supply tokens to Moonwell’s lending market to earn yield — the simplest on-chain strategy

The MoonwellSupplyStrategy supplies tokens (USDC, WETH) to Moonwell’s lending market on Base. The strategy holds mTokens that accrue interest over time, then redeems them on settlement.

Architecture

Lifecycle

Pending → execute() → Executed → settle() → Settled

Phase	What happens	Who calls
Execute	Pull USDC from vault → approve mToken → mint mUSDC	Governor (proposal execution)
Executed	mUSDC accrues interest in the strategy clone	—
Settle	Redeem all mUSDC → verify min output → push USDC back to vault	Governor (proposal settlement)

Batch Calls

Execute

[USDC.approve(strategy, supplyAmount), strategy.execute()]

Settle

[strategy.settle()]

Settlement redeems all mUSDC held by the clone and pushes the underlying back to the vault. The governor calculates P&L from the difference.

InitParams

struct InitParams {
    address underlying;      // Token to supply (e.g., USDC)
    address mToken;          // Moonwell market token (e.g., mUSDC)
    uint256 supplyAmount;    // Amount of underlying to supply
    uint256 minRedeemAmount; // Minimum underlying on settlement (slippage protection)
}

CLI Usage

# Direct submission
sherwood strategy propose moonwell-supply \
  --vault 0x... \
  --amount 100 --min-redeem 99.5 --token USDC \
  --name "Moonwell USDC Yield" \
  --performance-fee 1000 --duration 7d

# Or write JSON files for review
sherwood strategy propose moonwell-supply \
  --vault 0x... \
  --amount 100 --min-redeem 99.5 --token USDC \
  --write-calls ./moonwell-calls

Flag	Description	Default
--amount <n>	Amount of asset to supply	required
--min-redeem <n>	Min asset on settlement	same as amount
--token <symbol>	Asset token (USDC, WETH)	USDC

Tunable Parameters

While in Executed state, the proposer can update slippage parameters without a new proposal:

Parameter	Description
supplyAmount	Amount of underlying (usually unchanged)
minRedeemAmount	Minimum underlying on settlement

strategy.updateParams(abi.encode(newSupplyAmount, newMinRedeemAmount));
// Pass 0 to keep current value

Allowlist Targets

sherwood vault add-target --target 0xEdc817A28E8B93B03976FBd4a3dDBc9f7D176c22  # Moonwell mUSDC
sherwood vault add-target --target 0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913  # USDC
sherwood vault add-target --target <strategy-clone-address>                      # Your strategy clone

For WETH-based vaults, use the mWETH market instead:

sherwood vault add-target --target 0x628ff693426583D9a7FB391E54366292F509D457  # Moonwell mWETH
sherwood vault add-target --target 0x4200000000000000000000000000000000000006  # WETH
sherwood vault add-target --target <strategy-clone-address>

Addresses (Base Mainnet)

Contract	Address
MoonwellSupplyStrategy template	0xb9Cd6d6720fc224508A07f0e43254A3cD65770E0
USDC	0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913
Moonwell mUSDC	0xEdc817A28E8B93B03976FBd4a3dDBc9f7D176c22
Moonwell mWETH	0x628ff693426583D9a7FB391E54366292F509D457
Moonwell Comptroller	0xfBb21d0380beE3312B33c4353c8936a0F13EF26C