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Autonomous Interest Rate Protocol
Lending, Yield Farming
Moonwell is a decentralized, money market protocol that allows users to lend and borrow tokens on Moonriver and Moonbeam. Depositors lend tokens to earn APY from protocol borrowers. Borrowers can borrow tokens against deposited collateral and pay APY.
Moonwell allows users to borrow up to a percentage of their collateral, depending on the token. If the borrower's loan value ever exceeds the required collateral factor, the borrower's position can be liquidated to maintain protocol solvency. During liquidation, the liquidator repays the borrower's loan in exchange for a percentage of the borrower's original position. There is a cap on how much of the position can be liquidated at once. Currently, the cap is 50% for all tokens.
Users earn the MFAM and MOVR tokens for lending on the protocol.