Moonwell uses two types of proposals, and both require delegated voting power. This guide explains the types, the process, and how to vote.
Two Types of Proposals
Onchain MIPs (Moonwell Improvement Proposals)
Onchain MIPs change the protocol codebase directly. They're voted on via onchain voting and require gas fees to vote.
Examples: parameter changes, new smart contracts, security upgrades.
Snapshot Proposals
Snapshot proposals are offchain signal votes. They don't require gas fees and cover non-code changes.
Examples: governance process changes, community initiatives, strategic direction.
MIP Lifecycle
Onchain MIPs follow this process:
Proposal created: An address with enough voting power submits the proposal.
Voting active: The voting period is open (3 days).
Voting ends: The voting period closes.
Vote collection: Multichain proposals require votes to be collected over a 24 hour period.
Timelock: Following Vote collection, a further 24 hour waiting period is enacted before execution.
Executed: The proposal changes are applied to the protocol.
Proposals can also be:
Defeated: Did not pass voting, or failed to meet voting quorum.
Cancelled: Withdrawn before execution.
Proposal Requirements
To create a proposal, you must have:
Onchain MIP: 1,000,000 WELL of voting power
Snapshot proposal: 200,000 WELL of voting power
New ideas don't need to meet these thresholds, post your ideas on the Moonwell Governance Forum.
Voting Requirements
Quorum: A proposal needs minimum participation to pass.
WELL proposals: 100,000,000 WELL votes
MFAM proposals: 40,000,000 MFAM votes
Majority: A proposal must get more "For" votes than "Against" votes.
To pass, a proposal must reach both a majority of "For" votes and quorum.
Voting Options
When you vote, you can choose:
For: You support the proposal.
Against: You oppose the proposal.
Abstain: You don't take a position.
You can only vote once per proposal.
How to Vote on Onchain MIPs
Go to the Governance page.
Select Onchain Proposals.
Choose the proposal you want to vote on.
Review the proposal details and discussion.
Click For, Against, or Abstain.
Confirm the transaction in your wallet.
Wait for the transaction to confirm.
You're done. You have now voted.
How to Vote on Snapshot
Go to the Governance page.
Select Snapshot Proposals.
Choose the proposal you want to vote on.
Click the proposal to open the Snapshot portal.
Connect your wallet to Snapshot.
Select For, Against, or Abstain.
Click Vote.
No gas fee is required. Your vote is recorded on Snapshot.
The MIP Process
The typical life cycle of a proposal from idea to execution:
Ideation: Share your idea on the Moonwell Governance Forum.
Drafting: Work on the proposal details with feedback from the community.
Discussion: Post a full proposal draft taking under considering feedback.
Signal vote: Submit a Snapshot proposal to gauge community support.
Onchain submission: Create the formal onchain MIP.
Voting: The community votes on the proposal.
Execution: If it passes, the changes are applied.
Tips for Voting
Read the full proposal and discussion before voting.
Use the forum to ask questions.
Vote according to your beliefs, not just what others are voting.
Check both Onchain Proposals and Snapshot regularly.
Frequently Asked Questions
Do I need gas to vote?
Onchain MIP votes require gas. Snapshot votes are gasless.
Why was my vote rejected?
You need delegated voting power before you can vote. (See Delegating Your Voting Power.)
Can I change my vote?
You can only vote once per proposal, so review the details before submitting.