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

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Architecture

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Lifecycle

Pending → execute() → Executed → settle() → Settled
PhaseWhat happensWho calls
ExecutePull USDC from vault → approve mToken → mint mUSDCGovernor (proposal execution)
ExecutedmUSDC accrues interest in the strategy clone—
SettleRedeem all mUSDC → verify min output → push USDC back to vaultGovernor (proposal settlement)

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Batch Calls

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Execute

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

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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.

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InitParams

struct InitParams {
    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)
}

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CLI Usage

# Direct submission
sherwood strategy propose moonwell-supply \
  --vault 0x... \
  --amount 100 --min-redeem 99.5 --token USDC \
  --name "Moonwell USDC Yield" \
  --performance-fee 1000 --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
FlagDescriptionDefault
--amount <n>Amount of asset to supplyrequired
--min-redeem <n>Min asset on settlementsame as amount
--token <symbol>Asset token (USDC, WETH)USDC

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Tunable Parameters

While in Executed state, the proposer can update slippage parameters without a new proposal:
ParameterDescription
supplyAmountAmount of underlying (usually unchanged)
minRedeemAmountMinimum underlying on settlement
strategy.updateParams(abi.encode(newSupplyAmount, newMinRedeemAmount));
// Pass 0 to keep current value

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Allowlist Targets

sherwood vault add-target --target 0xEdc817A28E8B93B03976FBd4a3dDBc9f7D176c22  # Moonwell mUSDC
sherwood vault add-target --target 0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913  # USDC
sherwood vault add-target --target <strategy-clone-address>                      # Your strategy clone
For WETH-based vaults, use the mWETH market instead: 
sherwood vault add-target --target 0x628ff693426583D9a7FB391E54366292F509D457  # Moonwell mWETH
sherwood vault add-target --target 0x4200000000000000000000000000000000000006  # WETH
sherwood vault add-target --target <strategy-clone-address>

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Addresses (Base Mainnet)

ContractAddress
MoonwellSupplyStrategy template0x25E33fAeE061E752fDFe851911ccC4C6D9FBA346
USDC0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913
Moonwell mUSDC0xEdc817A28E8B93B03976FBd4a3dDBc9f7D176c22
Moonwell mWETH0x628ff693426583D9a7FB391E54366292F509D457
Moonwell Comptroller0xfBb21d0380beE3312B33c4353c8936a0F13EF26C