Hi! I'm UKML, a total beginner and learner in DeFi and coding. I've been creating simple GitHub repos to learn about Base chain projects. This one is all about Moonwell – an awesome lending and borrowing protocol built for Base (Coinbase's super-fast, low-fee Layer 2).
- Moonwell is an open-source DeFi app for lending assets to earn yield and borrowing against collateral.
- Native to Base for the lowest fees and best speed.
- Native token: WELL (listed on Coinbase since September 2024!).
- Stake WELL in the Safety Module for extra rewards and help secure the protocol.
- Supports key assets like USDC, ETH, cbETH, wstETH, and more.
- Official app: moonwell.fi
- Docs: docs.moonwell.fi
(Current stats ~December 2025: TVL on Base ~$139M, average APY ~2.8%, protocol active with new features like the Moonwell Card for real-world spending.)
- Base is exploding with Coinbase backing – cheap gas makes looping, farming, and daily strategies way more efficient.
- Lend assets for competitive yields + potential WELL reward boosts.
- Borrow to leverage or farm elsewhere on Base (like Aerodrome or Uniswap).
- Stake WELL for additional rewards.
- As a beginner, I see huge potential for Base farmers to stack extra yields here!
All three are solid lending protocols, but here's a beginner-friendly comparison (based on December 2025 data from DeFiLlama and community discussions):
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Higher Potential Yields with Incentives: Moonwell often offers boosted APYs through WELL token rewards and emissions, especially on key Base assets like cbETH or USDC. While base rates are similar (~2-6% for stables across all), Moonwell's extra rewards can push net yields higher for active users. Aave and Compound focus more on pure market-driven rates without as many token incentives on Base.
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Native to Base & Coinbase Ecosystem: Moonwell is optimized for Base from day one – seamless integration, lower risks from cross-chain issues, and direct ties to Coinbase (WELL listing + native USDC support). Aave and Compound are multi-chain giants but started on Ethereum, so Base feels like "home" for Moonwell.
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WELL Staking Rewards: Unique Safety Module lets you stake WELL for extra APY and governance power. Aave has GHO/staking, Compound has COMP, but Moonwell's feels more rewarding for Base-focused holders right now.
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User-Friendly for Beginners: Simple interface, plus new features like the Moonwell Card (spend crypto IRL with Apple/Google Pay). Great for learning without complexity.
That said – Aave and Compound are more battle-tested with massive TVL ($40B+ for Aave overall) and longer track records. Moonwell had an oracle exploit in November 2025 (~$1M attacker profit, some bad debt), but the team responded quickly, governance is active, and the protocol recovered/continued growing. Always DYOR – smaller protocols like Moonwell can have higher rewards but more risks!
I'm just learning with zero experience, building repos like this to understand DeFi. Moonwell feels exciting for Base growth – tied to Coinbase, low fees, and real utility. Post-exploit, it's still active with updates (like the card and governance proposals). Start small, watch rates on the app, and have fun farming!
- App: https://app.moonwell.fi/markets/base
- Governance Forum: https://forum.moonwell.fi
- WELL on Coinbase: Search "WELL" in the Coinbase app
- Base Explorer: https://basescan.org
- DeFiLlama for stats: https://defillama.com/protocol/moonwell
Feel free to share your precious idea's, fork, star, or give tips – I'm learning! 🚀
#Base #Moonwell #DeFi #OnBase #CryptoBeginner