Everyone, I’d like to invite you our AMA event that will be hosted in our Celo Turkey Official Telegram channel on Sunday, February 13 at 20:00 TSİ (17.00 UTC) (09.00 PST). You can ask questions in English or Turkish.

Prizes! A total of 300 MOO is anticipated to be award to the two people who asked best questions.

https://www.tgoop.com/moolamarketturkey

We’re excited to announce that we anticipate releasing a MOO Moola market to app.moola.market this Wednesday the 16th at 6am PST. We expect app.moola.market to be inaccessible while we deploy the new market.

By adding a MOO market we are taking steps that are consistent with our 2022 roadmap including increasing protocol revenue and MOO utility.

MOO owners can earn variable rate interest paid in MOO by depositing their tokens as well as borrow against the value of their MOO as collateral.

MOO Parameters and Addresses:🐮
Max LTV = 50%
Liquidation Threshold = 65%
Liquidation Bonus = 10%
Revenue Factor = 10%
MOO = 0x17700282592D6917F6A73D0bF8AcCf4D578c131e
Moola interest bearing MOO (mMOO) = 0x45d8175279d9CB398f1666c14476c7A41d6C46dc
Moola stable debt bearing mMOO = 0x0bb14E95a4FF117F7f536D605E2B506e937619C4
Moola variable debt bearing mMOO = 0x3d6d8A1562ff973aD89887C0a5c001f42Ad66CB8
MOO oracle = 0xBa2224905Ad3CDbA6c1b764CD62FDa52bd524d29

We’re aware of reports that Agave (AAVE fork) and Hundred Finance (Compound fork) were attacked on Gnosis chain (formerly xDAI). We do not believe that Moola is vulnerable to a similar attack because when the xDAI token is transferred, it calls the receiver contract, something that none of Moola's listed tokens are able to do. The xDAI token allowed the attacker to run code after a transfer (callAfterTransfer) and this was used to perform a reentrancy attack in each protocol.

We're beginning the process of deploying previously scheduled updates to app.moola.market. The front end will not be accessible during the maintenance period. We will update as soon as app.moola.market is available again.

Everyone should now be able to access app.moola.market.

What's new?
We've added support for the new MOO market which means that MOO owners can deposit their tokens to earn compound interest, borrow agains the value of their MOO, and/or borrow MOO.

MOO Parameters and Addresses:
🐮
Max LTV = 50%
Liquidation Threshold = 65%
Liquidation Bonus = 10%
Revenue Factor = 10%

Currently there are no incentives or subsidies for MOO markets but we will evaluate this over the coming weeks.

Additionally, we've separated out the market borrow interest rate (APR) from the CELO subsidized borrow interest rate because some users were confused why their debt amount increased when we showed a negative interest rate. Deposit liquidity rates (APY) are still cumulative and include the market rate plus any MOO subsidy.

We've also added links to Celo.Tax on the landing page and in the 'connect with us' section

'Claim MOO' distribution for depositors and 'Claim CELO' distribution for borrowers is now live and funded. Please refresh your browser to reveal the buttons.

Pool rewards are anticipated to be refreshed today as follows:

Ubeswap:
mcUSD-mcEUR 20,000 MOO + UBE
mCELO-MOO 15,000 MOO + UBE
mcREAL-CELO 5,000 MOO + UBE

Symmetric:
mcUSD-mcREAL 4,000 MOO + SYMM

Anticipated MOO distributions for depositors next Thursday:
mcUSD - 5,000 MOO
mcEUR - 4,000 MOO
mcREAL - 3,000 MOO
mCELO - 0 MOO
mMOO - 5,000 MOO

In about 12 hours from now, we are planning on releasing some new features at app.moola.market which require us to put up a maintenance page. Users who need to add collateral to their positions during this time can deposit into Moola by swapping Tokens for mTokens at https://app.ubeswap.org/#/swap

We have completed the new release and all service has been restored to app.moola.market. Please refresh your browser and check out the new loan management system by tapping 'Loans'.

Unsecured borrowing is made possible by depositing collateral into Moola Market. This creates credit that can be borrowed against by the depositor or assigned by the depositor to other addresses. The other address(es) can then borrow from and repay to Moola Market without posting additional collateral. It is important to note that the depositor is taking on repayment risk and should only assign credit to creditworthy addresses.

Check out this thread for more:
https://twitter.com/Moola_Market/status/1529467961894838272?s=20&t=n8yMEqy-jMQFGE9wQYbNCQ

We are planning to perform maintenance on Wednesday Aug 3rd starting at 6am PT which will make app.moola.market unavailable. The expected changes include:
-Increasing the liquidation bonus for all markets by 2%, which will accrue to the community treasury. Currently, all liquidation bonuses go to the liquidator
-Increasing the cREAL liquidation bonus by 5% because cREAL swap liquidity is too thin.
-Updating 'Up to APY' numbers to reflect the removal of MOO subsidies

We are performing maintenance which will prevent users from being able to access http://app.moola.market/ during that time. Users are still expected to be able access their positions via https://celotracker.com/ or the Celo Terminal desktop app.

All maintenance is complete.

Liquidation bonuses have been updated for all markets. We've also merged a change that sends 2% of any liquidated assets to the community treasury, whereas before 100% of the liquidated assets went to the liquidator. This is a new source of revenue for the treasury.
CELO from 5% to 7%
cUSD from 5% to 7%
cEUR from 5% to 7%
cREAL from 5% to 12%
MOO from 10% to 12%

We also updated the 'Up to APY' numbers on the Market tab to account for the pausing of MOO subsidies.

Moola Market is pleased to announce the launch of the Moola Market DAO. Next week, on Thursday September 22nd, we anticipate taking another step towards decentralizing control of Moola Market by transferring governance ownership from the current 6-of-10 multisig to MOO owners.

More details can be found here: https://moolamarket.medium.com/introducing-moola-market-dao-adcdaff880f5

We've queued up a new test proposal. The snapshot will be 1d 18h 59m from now (ends on block 15,218,673). Then voting will begin. You can delegate your voting capacity to yourself or another address either using:
https://commonwealth.im/moola-market/ or
https://romulus.page/romulus/0xde457ed1A713C290C4f8dE1dE0D0308Fc7722937

Moola Market DAO is live!

This means that MOO owners can now make proposals, delegate their voting power to themselves or another address, and vote on updates to the Moola Market protocol.

Today we transferred control of the lending pool admin rights from the 6-of-10 multisig to the governance timelock. OwnedWallet.execute(LendingPoolAddressesProvider, 0, setPoolAdmin('0xF9d414813e189c1b6dB7Fce7806aF42629239e38'))
We also passed the ownership of the LendingRateOracle from the multisig to the governance timelock. LendingRateOracle.transferOwnership('0xF9d414813e189c1b6dB7Fce7806aF42629239e38')

LendingPoolAddressesProviderRegistry and LendingPoolAddressesProvider will pass from the multisig to the governance timelock after successfully passing proposal proposal ID=7 (snapshot for this proposal to be taken in <48 hours, so go delegate your votes now!)

Retained ownership by the multisig (for now):
MoolaOracle UbeswapPriceProvider ownedWallet (aka the community treasury) remain controlled by the multisig but governance can replace these contracts if needed.

We are preparing Moola proposal 10 for a vote. The proposal aims to return the protocol to a state of solvency, adjust risk parameters to be more resilient against future attacks, and compensate Moola depositors. A blog post for the proposal can be found below. Technical implementation for the proposal is still under construction and is anticipated to be published before the proposal is submitted on chain.

The best case timeline to unpause deposit & repay is three days after proposal 10 is submitted. The best case for unpausing all functionality is five days after it is submitted.


Proposal 10 snapshot period = 48 hours
Proposal 10 voting period = 24 hours (we are proposing a truncated voting period in order to unpause more quickly)
Grace Period = 48 hours

After the grace period ends, we propose that all functionality is unpaused including withdrawals, borrows, and liquidations.

Please keep in mind that this is a best case timeline that may be delayed for a number of reasons.

https://moolamarket.medium.com/moola-market-proposal-10-unpausing-f6d39d4208c4

Proposal 10 has been submitted on chain. This is a signaling proposal that will take the snapshot to determine voting weights 48 hours after it is proposed. We propose to truncate the voting period for the proposal to 24 hours (Voting will be considered complete 51,840 blocks after it is proposed). This proposal will not have any immediate effects on the Moola protocol, it is only used to gather votes. Proposal 10, if passed, will be effectuated by the 6-of-10 multisig.

A vote 'For' signals a desire from MOO owners to execute the proposal described at:
https://moolamarket.medium.com/moola-market-proposal-10-unpausing-f6d39d4208c4
Technical implementation viewable at: https://github.com/moolamarket/moola-fix

A vote 'Against' signals a desire from MOO owners to shutter the Moola protocol by; repaying uncollateralized debt with tokens held in the 6-of-10 multisig, adjusting mToken balances to account for the remaining uncollateralized debt, fixing asset oracle prices at the pre-attack values, setting interest rates to 0%, and only allowing repays and withdraws.

Proposal ID 10 has passed and Moola protocol is solvent again and live for deposits and repays!

Borrowers now have a 48 hour grace period to repay their debt and/or top-up collateral without the risk of liquidation. Transfer of mTokens will remain paused during the grace period.

MOO and cREAL have been removed as collateral assets. If you are currently using either MOO or cREAL as collateral to borrow against then you should repay your debt before the grace period ends.

MOO's reserve is frozen, meaning that MOO cannot be deposited, borrowed or rate swapped, only repayment of MOO debt is allowed. Liquidations, rate rebalances and withdrawals of MOO will be allowed once the grace period has ended.

cREAL has adjusted risk parameters that effectively remove it as a collateral asset however, unlike MOO, cREAL can be deposited and will be able to be borrowed once the grace period ends.

The grace period is anticipated to last until Wed Nov 2nd at ~11:30pm UTC at which time borrows, withdrawals, and liquidations are anticipated to be unpaused.

Thank you all for your patience over the last two weeks and for your continued support of Moola 🐮

Please check your Health Factor while we are still in the 'grace period'. Lots of addresses will be liquidated once the grace period ends in ~24 hours. Repay some/all of your debt and/or add additional collateral.

all functionality has been restored to Moola Market including deposit, borrow, repay, withdraw, and liquidation. Please refresh your browser.

Proposal 11 has been proposed to sunset support for Moola v1, which the community migrated away from back in Oct 2021.

This proposal does not affect the current version of Moola v2!

Proposed parameter changes and timeline:
Upon proposal passing, set maximum loan-to-value ratio for all v1 markets to 0% in order to prevent any further borrowing.

On May 15, 2023, set liquidation threshold for all v1 markets to 0% in order to liquidate all outstanding loans. There is currently ~72,000 cEUR borrowed that will be liquidated.

On May 31, 2023, shutdown app-v1.moola.market. After this date users will need to use Moola CLI or a blockchain explorer to withdrawal their funds from v1 pools.

A ‘For’ vote signals intent to sunset Moola v1. An ‘Against’ vote signals intent to maintain Moola v1 as is.

You must delegate your MOO voting authority to your own address or to another before the snapshot in order to have voting power. Tools you can use to delegate and vote include:
https://romulus.page/romulus/0xde457ed1A713C290C4f8dE1dE0D0308Fc7722937
https://celoterminal.com/