MIP-B43 Vote: cbXRP Integration Vote on Moonwell Base

MIP-B43 proposes adding cbXRP, a 1:1 ERC-20 representation of XRP backed by Coinbase reserves, to Moonwell’s lending and borrowing protocol on Base, an Ethereum Layer 2. The goal? Boost liquidity, attract new users, and diversify assets beyond USD-pegged tokens. With voting live at https://moonwell.fi/vote and requiring a 1,000,000 WELL quorum, this decision empowers the community to shape Moonwell’s future. If passed, cbXRP could enhance DeFi accessibility, though liquidity risks remain due to its recent launch.

Recent News

Moonwell has been on a roll! In April 2025, the protocol expanded to Base mainnet, following MIP-B0’s approval in August 2023 [forum.moonwell.fi]. June 2025 saw cbXRP debut on Aerodrome, hitting $900k in DEX TVL within days [coinmarketcap.com]. This milestone, paired with Moonwell’s $6.55M 24-hour WELL trading volume [coinmarketcap.com], signals strong momentum heading into this vote.

Future Plans

Moonwell’s roadmap is ambitious, targeting integrations with decentralized identity systems for credit scoring and exploring flash loans and fixed-rate products [moon-well.net]. A successful cbXRP integration could pave the way for more cross-chain assets, solidifying Moonwell’s goal to become Web3’s default liquidity layer. The team also plans to scale transaction capacity with Layer 2 solutions, a move that could amplify cbXRP’s impact.

Onchain Data

While precise cbXRP transaction data is limited due to its recent launch (circulating supply: 2.3M, market cap: $5M [coinmarketcap.com]), early liquidity on Aerodrome doubled in 12 hours to $900k [moonwell.fi]. Moonwell’s Base TVL and WELL staking metrics are unavailable in real-time here, but the protocol’s growth suggests robust activity. Keep an eye on onchain analytics like Dune for updates!

Community Sentiment

X is abuzz with excitement! @MoonwellGov’s post (June 13, 2025) garnered positive reactions, with users praising cbXRP’s Coinbase backing and XRP’s 3M+ retail following [x.com/MoonwellGov]. Influencers highlight diversification benefits, though some caution about liquidity depth. Sentiment leans optimistic, with active discussions on governance risks.

Additional Insights

cbXRP’s 70% collateral factor and $500k borrow cap [moonwell.fi] offer a balanced entry into DeFi, competing with assets like cbETH. XRP’s 60% 30-day volatility [moonwell.fi] reflects its regulatory sensitivity, a factor to watch. This integration could challenge traditional finance narratives, offering users new lending opportunities.

Risk Disclaimer

Note: Early-stage assets like cbXRP carry liquidity and volatility risks. Always research and assess your risk tolerance before participating.