Lending · Review
ActiveMoonwell Lending Review 2026: Multi-Chain DeFi Lending
Moonwell is an open lending and borrowing protocol on Base, Optimism, Ethereum and Moonbeam, with its own WELL token. DefiLlama lists about 9.1 million USD in TVL, so it is a modest-sized market with two audits listed.
By the DappsAtlas editorial team · Updated
DappsAtlas score
7.0/10
Good
Our verdict on Moonwell Lending
7.0/10Moonwell suits DeFi users who want to lend or borrow on Base, Optimism or Ethereum through an app that aims to be simple. Its strengths are a track record since 2022 and two listed audits. The main caveat is size and risk: TVL is about 9.1 million USD, rates and parameters are not public, and smart-contract and liquidation risks apply. Check live rates and documentation first, and start small.
Score breakdown
How Moonwell Lending scores
- Security
- 6.5/10
- Ease of use
- 7.5/10
- Fees
- n/a
- Features
- 6.5/10
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is Moonwell Lending?
Moonwell is an open lending and borrowing protocol. DefiLlama lists it under Lending on Base, Ethereum, Optimism and Moonbeam, and its description also mentions Moonriver. The homepage calls it a user-friendly lending app that brings simple financial tools onchain.
DefiLlama has tracked Moonwell since June 2022 and shows about 9.1 million USD in total value locked, down about 3% over the last seven days. It lists two audits and a native token, WELL.
The project does not include supported assets, interest rates, team details or governance specifics, so this review sticks to what is established and points readers to the app for live numbers.
How Moonwell Lending works
Moonwell is a pooled lending market run by smart contracts. Lenders deposit assets into a pool and earn interest. Borrowers post collateral and take loans from the same pool, paying interest that varies with how much of the pool is in use.
Borrowing is typically overcollateralized, meaning the collateral is worth more than the loan. If collateral value falls too far, positions can be liquidated by third parties to protect lenders. Exact parameters are set per asset and are shown in the app.
Moonwell runs on several networks, so each chain has its own markets and liquidity.
6 features
Key features
01
Lending and borrowing
Users can deposit supported assets into lending markets to earn interest, or borrow against deposited collateral.
02
Multiple chains
DefiLlama lists Base, Ethereum, Optimism and Moonbeam, so users can pick a network that fits their fees and assets.
03
Simple app focus
The homepage describes a user-friendly lending app that aims to keep financial tools simple.
04
WELL token
Moonwell has a token, WELL, listed on DefiLlama. The project does not detail its role.
05
Listed audits
DefiLlama shows two audits for the protocol, which gives some external review of the code.
06
Established since 2022
Moonwell has been tracked on DefiLlama since June 2022, giving it a multi-year history.
Pros and cons
What we like
- Open lending and borrowing on several networks, including Base and Optimism
- Listed on DefiLlama since June 2022, so it has a multi-year track record
- Two audits are listed on DefiLlama
- Homepage positions it as simple and user-friendly
- Native WELL token exists, suggesting a governance or incentive layer
Watch out for
- Total value locked is about 9.1 million USD per DefiLlama, small next to the largest lending markets
- TVL fell about 3% over the past seven days
- Smart-contract risk applies, and only two audits are listed publicly
- Specific rates, collateral factors and supported assets are not public, so users must check the app
- Borrowers face liquidation if collateral value drops, as in any overcollateralized lending market
Moonwell Lending fees
Fees are not published. Lending protocols typically charge borrowers a variable interest rate, part of which goes to lenders and part to a reserve, and users also pay network gas fees on their chosen chain.
Current supply and borrow rates, plus any reserve factors, are displayed in the Moonwell app and documentation. Check them before depositing, since rates change with market utilization.
Is Moonwell Lending safe?
DefiLlama lists two audits for Moonwell. Audits are useful but not a guarantee. Lending protocols carry smart-contract, oracle and liquidation risks, and bad debt can arise during sharp market moves.
Moonwell is non-custodial in the usual DeFi sense, so users keep their wallets but rely on contract code. The project does not mention incidents, insurance or regulatory status, so check the official documentation and independent sources before depositing. Only use funds you can afford to lose.
6 steps
How to get started with Moonwell Lending
- 1
Check that using DeFi lending is allowed where you live.
- 2
Set up a self-custody wallet and fund it with a supported asset plus a small amount of the chain's gas token.
- 3
Open the official Moonwell site and verify the address carefully to avoid imitation sites.
- 4
Connect your wallet and choose a network such as Base or Optimism.
- 5
Review supply and borrow rates and the collateral settings for each asset.
- 6
Start with a small deposit, and if you borrow, keep a wide safety margin against liquidation.
Who Moonwell Lending is for
Moonwell is for people already comfortable with self-custody wallets who want to earn interest on crypto or borrow against it on Base, Optimism, Ethereum or Moonbeam. It is less suited to beginners who have not learned about liquidation and smart-contract risk.
Moonwell Lending FAQs
What is Moonwell Lending?
Moonwell is a lending and borrowing DeFi protocol. Users supply crypto assets to earn interest, or borrow against collateral. Its homepage describes it as a user-friendly lending app.
Which blockchains does Moonwell support?
DefiLlama lists Moonwell Lending on Base, Ethereum, Optimism and Moonbeam. The DefiLlama description also mentions Moonriver, and the homepage meta text names Base and Optimism.
Does Moonwell have a token?
WELL is the token DefiLlama associates with Moonwell. The project does not describe its utility or tokenomics, so check the official documentation for that.
Is Moonwell audited?
DefiLlama lists two audits for Moonwell. An audit reduces risk but does not remove it, and lending protocols can still suffer bugs, oracle problems or bad debt.
How big is Moonwell?
Moonwell has been listed on DefiLlama since June 2022. Its current TVL is about 9.1 million USD, down about 3% over seven days. Those figures say nothing about future safety.
Compare
Moonwell Lending alternatives
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SparkLend is a stablecoin lending market on Ethereum and Gnosis with governance-set rates, backed by Sky's Liquidity Layer, for borrowers and savers.
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DeFi Saver is a non-custodial tool for managing and automating leveraged lending positions across major DeFi protocols on Ethereum and layer-2 networks.
OKX is a major centralized crypto exchange for spot and derivatives trading, earn products and a Web3 wallet, with its own OKB token.
LayerZero V2 is a cross-chain messaging protocol and bridge infrastructure for developers and asset issuers, connecting dozens of blockchains.
Uniswap V2 is a non-custodial automated market maker DEX on 17 chains for token swaps and liquidity provision, with about $938M TVL.
How we checked
Sources
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