Moonwell — an open DeFi lending and borrowing protocol, based on Moonbeam and Moonriver.
Moonwell Apollo, Moonwell's first deployment, will be on Kusama's Moonriver network, Moonbeam Polkadot's sister network. At Moonriver, new products are expected to be incubated and developed before being deployed to Moonbeam.
The DeFi space has witnessed countless hacks and exploits. Safety - Moonwell's top priority. Moonwell has partnered with several leading security firms to audit and provide ongoing support for smart contracts to ensure best security practices are followed. In addition, agent-based economic modeling allows the protocol to adapt and mitigate the risks of adverse economic conditions.
Pretty much every DeFi platform suffers from poor user experience. Participants are immediately inundated with information that is both overwhelming and overly technical. Even experienced cryptocurrency users have difficulty navigating the typical clunky and non-intuitive DeFi website. In Moonwell, even beginners will be able to use the site, as it has a simple and intuitive interface. The Moonwell community - a place where people can share their interests, hobbies and ideas with each other.
The potential borrowing amount depends on the value of the deposited assets, the user's health factor, as well as available liquidity. If there is not enough liquidity, or if your health factor falls below a certain threshold, you will not be able to borrow.