Moonwell (WELL)
Unlock Schedule
Moonwell (WELL) Token Unlock & Vesting Schedule
The chart shows gross modeled releases of every allocation: vesting unlocks, new issuance and reserve distributions, each allocation counted once. These have different meanings; a scheduled release is not evidence that tokens entered circulation or were sold. Review the coverage, sources and assumptions below.
Each color segment in the chart corresponds to a specific allocation group described in the Allocations section below. Underlying assumptions and data models used to reconstruct this schedule are explained in detail under Assumptions, while broader utility insights and token use cases are covered in Tokenomics & Utility.
Tokenomics & Utility
Moonwell lists a total supply of 5 billion WELL. Its initial allocation assigned 49.63% to ecosystem development, including liquidity incentives, application work, and longer-term growth. Early purchasers received 30.37%, while contributors and partners received 20%. The early-purchaser and contributor categories included different lock and vesting schedules. These allocations describe how tokens were assigned; they do not describe a live circulating balance. (docs.moonwell.fi)
WELL’s main utility is governance. Holders can delegate voting power to themselves or another participant and take part in Moonwell Improvement Proposals. The protocol uses both onchain votes and Snapshot votes, depending on the decision. A holder’s tokens can also be staked in the Safety Module. Staking activates voting power and may earn rewards while helping provide a backstop for certain protocol shortfalls. (docs.moonwell.fi)
WELL was upgraded to the xERC20 standard in 2024 to support movement and governance across networks. Because tokens can exist on different chains, the network matters when transferring them or connecting a wallet. The token’s role is tied to participation and protocol incentives: holding WELL gives access to governance, while staking adds a separate Safety Module function. (docs.moonwell.fi)
Assumptions
Moonwell reports a fixed 5-billion-WELL supply allocated to incentives, development, purchasers and contributors. Its published terms give four-year liquidity-incentive programs and vesting durations for purchasers and contributors, but several grant dates and development-budget payments remain unresolved. The chart can show the initial supply and labeled estimates for dated incentive and purchaser releases; it must not treat spending of existing WELL as new issuance. Contributor schedules and discretionary grants remain listed without invented payment dates.
- Long-Term Protocol & Ecosystem Development: Releases depend on future governance or treasury decisions.
- Application Development: The sources give the amount but no release dates.
- Key Partners: The sources give the amount but no release dates.
- Advisors: The sources give the amount but no release dates.
- Founding Contributors: The sources give the amount but no release dates.
- Future Contributors: Releases depend on recipients claiming tokens or on grants being awarded.
- Initial Morpho flagship-vault incentive grant: The sources give the amount but no release dates.
- Morpho flagship-vault incentive renewal, MIP-B38: Releases depend on future governance or treasury decisions.
- Morpho-vault incentive renewal, MIP-B44: Releases depend on future governance or treasury decisions.
- Aerodrome WELL liquidity-incentive subprogram: Timing not yet established.
- 1. https://docs.moonwell.fi/moonwell/moonwell-overview/tokens/well-transparency-report
- 2. https://forum.moonwell.fi/t/mip-2-re-balancing-of-well-token-liquidity-incentives/240
- 3. https://forum.moonwell.fi/t/well-rewards-for-moonwells-base-deployment/558
- 4. https://forum.moonwell.fi/t/warden-finance-base-liquidity-incentives/608
- 5. https://forum.moonwell.fi/t/create-structural-demand-for-well-token/1092
- 6. https://forum.moonwell.fi/t/moonwell-grants-program-framework/507
- 7. https://forum.moonwell.fi/t/introducing-moonwell-metamorpho-vaults-next-gen-defi-lending/960
- 8. https://forum.moonwell.fi/t/mip-b38-renewal-of-moonwell-flagship-vaults-incentives-program/1412
- 9. https://forum.moonwell.fi/t/weekly-governance-recaps/786?page=4
- 10. https://forum.moonwell.fi/t/aerodrome-liquidity-incentives-update/601
- 11. https://forum.moonwell.fi/t/mip-b45-base-safety-module-remediation/1892
- 12. https://forum.moonwell.fi/t/monthly-governance-reports/787?page=2
Allocations
Parts of this allocation with their own release dates are charted as their own allocations; the chart shows the rest here.
Not yet scheduled: 470,122,148 tokens of its parts have no release date yet. The chart shows them as TBD from today, not as unlocked.
Description
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Moonwell is a decentralized finance platform simplifying the lending and borrowing process. It offers an intuitive interface that caters to both newcomers and experienced crypto users, making it easier to engage with DeFi applications.
| Sector: | Lending |
| Blockchain: | Base |