Moonwell Supply - Sherwood

Not yet available on Robinhood testnet (chain 46630), Sherwood’s current deployment target. This strategy will come online as Sherwood expands to more chains.

The MoonwellSupplyStrategy supplies tokens (USDC, WETH) to Moonwell’s lending market. The strategy holds mTokens that accrue interest over time, then redeems them on settlement.

Architecture

Lifecycle

Pending → execute() → Executed → settle() → Settled

Phase	What happens	Who calls
Execute	Pull USDC from vault → approve mToken → mint mUSDC	Governor (proposal execution)
Executed	mUSDC accrues interest in the strategy clone	—
Settle	Redeem all mUSDC → verify min output → push USDC back to vault	Governor (proposal settlement)

Batch Calls

Execute

[USDC.approve(strategy, supplyAmount), strategy.execute()]

Settle

[strategy.settle()]

Settlement redeems all mUSDC held by the clone and pushes the underlying back to the vault. The governor calculates P&L from the difference.

InitParams

Init data is an ABI-encoded positional tuple (not a named struct) decoded in this order:

(
    address underlying,       // Token to supply (e.g., USDC)
    address mToken,           // Moonwell market token (e.g., mUSDC)
    uint256 supplyAmount,     // Amount of underlying to supply
    uint256 minRedeemAmount,  // Minimum underlying on settlement (slippage protection)
    bool    isNativeEthMarket // true for native-ETH markets (mWETH) — see below
)

isNativeEthMarket flags markets like Moonwell mWETH that send native ETH (not ERC-20 WETH) on redeem. When set, settlement wraps the received ETH back to WETH via IWETH.deposit so the vault always receives ERC-20 tokens. On non-native markets it stays false, and any stray ETH transfer reverts (EthWrapFailed) as a dust-attack guard.

CLI Usage

# Direct submission
sherwood strategy propose moonwell-supply \
  --vault 0x... \
  --amount 100 --min-redeem 99.5 --token USDC \
  --name "Moonwell USDC Yield" \
  --duration 7d

# Or write JSON files for review
sherwood strategy propose moonwell-supply \
  --vault 0x... \
  --amount 100 --min-redeem 99.5 --token USDC \
  --write-calls ./moonwell-calls

Flag	Description	Default
`--amount <n>`	Amount of asset to supply	required
`--min-redeem <n>`	Min asset on settlement	same as amount
`--token <symbol>`	Asset token (USDC, WETH)	USDC

Tunable Parameters

While in Executed state, the proposer can update slippage parameters without a new proposal:

Parameter	Description
`supplyAmount`	Amount of underlying (usually unchanged)
`minRedeemAmount`	Minimum underlying on settlement

strategy.updateParams(abi.encode(newSupplyAmount, newMinRedeemAmount));
// Pass 0 to keep current value

Live NAV

The strategy never self-reports a value. It reports one position of kind MOONWELL_SUPPLY (venue + kind + locator) via positions(), and the governance-owned PriceRouter prices it through the MoonwellSupplyAdapter (from mToken balance * exchangeRateStored, with a haircut and instant-size cap). Because Lane A is enabled for MOONWELL_SUPPLY (post-audit), while a proposal is active users get instant deposit / withdraw at live NAV — with a per-share lockup on Lane A entries until that proposal settles. If any pricing precondition fails at call time (and always as the universal fallback), entry / exit routes through the Lane B async queue instead, settling at the frozen per-proposal price. See Deposits & Withdrawals for the full two-lane mechanics.

Addresses (Base reference)

Contract	Address
MoonwellSupplyStrategy template	`0xb9Cd6d6720fc224508A07f0e43254A3cD65770E0`
USDC	`0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913`
Moonwell mUSDC	`0xEdc817A28E8B93B03976FBd4a3dDBc9f7D176c22`
Moonwell mWETH	`0x628ff693426583D9a7FB391E54366292F509D457`
Moonwell Comptroller	`0xfBb21d0380beE3312B33c4353c8936a0F13EF26C`

​Architecture

​Lifecycle

​Batch Calls

​Execute

​Settle

​InitParams

​CLI Usage

​Tunable Parameters

​Live NAV

​Addresses (Base reference)

Architecture

Lifecycle

Batch Calls

Execute

Settle

InitParams

CLI Usage

Tunable Parameters

Live NAV

Addresses (Base reference)