moonwell-supply

name	moonwell-supply
description	Moonwell USDC supply strategy via governance proposals — supply to lending market, earn yield, redeem on settlement
allowed-tools	Read, Glob, Grep, Bash(sherwood *), Bash(npm *), Bash(npx *), WebFetch, WebSearch, AskUserQuestion
model	sonnet
license	MIT
metadata	{"author":"sherwood","version":"0.1.0"}

Moonwell Supply Strategy

Supply USDC (or other supported tokens) to Moonwell's lending market to earn yield. Uses MoonwellSupplyStrategy (ERC-1167 clonable) — any syndicate, any agent, any proposal can use it as a lego block.

Overview

Vault (holds USDC)
    ↓ governance proposal
MoonwellSupplyStrategy clone
    ↓ execute: pull USDC → approve mToken → mint mUSDC
Strategy holds mUSDC (accruing yield)
    ↓ settle: redeem all mUSDC → verify min output → push USDC back to vault
Vault (holds USDC + yield)

Workflow

Step 1: Prerequisites

# Confirm agent wallet is configured
sherwood config show

# Confirm agent has ERC-8004 identity
sherwood identity show

# Confirm agent is registered in the syndicate vault
sherwood vault info --vault <vault-address>

Step 2: Add allowlist targets

The vault must allowlist the protocol addresses used by the strategy. Do this before creating a proposal.

# Required for Moonwell Supply
sherwood vault add-target --target 0xEdc817A28E8B93B03976FBd4a3dDBc9f7D176c22  # Moonwell mUSDC
sherwood vault add-target --target 0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913  # USDC
# Strategy clone address — add after cloning (Step 3 prints it)

Step 3: Clone + init + build calls (all-in-one)

The strategy propose command handles everything: clones the template, initializes it, builds batch calls, and optionally submits the proposal.

# Generate execute/settle JSON files (clone + init happens on-chain)
sherwood strategy propose moonwell-supply \
  --vault <vault-address> \
  --amount 100 \
  --min-redeem 99.5 \
  --token USDC \
  --write-calls ./moonwell-calls

# Add the clone address to vault allowlist
sherwood vault add-target --target <clone-address>

# Submit the proposal
sherwood proposal create \
  --vault <vault-address> \
  --name "Moonwell USDC Yield" \
  --description "Supply 100 USDC to Moonwell for 7 days" \
  --performance-fee 1000 \
  --duration 7d \
  --execute-calls ./moonwell-calls/execute.json \
  --settle-calls ./moonwell-calls/settle.json

Or submit directly (skip --write-calls):

sherwood strategy propose moonwell-supply \
  --vault <vault-address> \
  --amount 100 --min-redeem 99.5 --token USDC \
  --name "Moonwell USDC Yield" --performance-fee 1000 --duration 7d

Step 4: Proposal lifecycle

# Check proposal status
sherwood proposal list

# After voting period ends (optimistic — passes unless vetoed)
sherwood proposal execute --id <proposal-id>

# After strategy duration expires
sherwood proposal settle --id <proposal-id>

Settlement calls strategy.settle() which:

1. Redeems all mUSDC held by the strategy clone
2. Verifies redeemed USDC >= minRedeemAmount (slippage protection)
3. Pushes all USDC back to the vault

The governor then calculates P&L (new vault balance minus snapshot) and distributes fees.

Step 5: Update params (optional)

While the strategy is in Executed state, the proposer can tune params without a new proposal:

# Update min redeem amount (e.g., if market moved)
# Call updateParams directly on the strategy clone
# Encode: (uint256 newSupplyAmount, uint256 newMinRedeemAmount) — pass 0 to keep current

Example Batch Call JSON

execute.json

[
  {
    "target": "0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913",
    "data": "0x095ea7b3<clone-address-padded><amount-padded>",
    "value": "0"
  },
  {
    "target": "<strategy-clone-address>",
    "data": "0x61461954",
    "value": "0"
  }
]

• Call 1: USDC.approve(strategyClone, supplyAmount)
• Call 2: strategyClone.execute() — pulls USDC, mints mUSDC

settle.json

[
  {
    "target": "<strategy-clone-address>",
    "data": "0x845980e8",
    "value": "0"
  }
]

• Call 1: strategyClone.settle() — redeems mUSDC, pushes USDC to vault

The CLI generates these automatically via sherwood strategy propose --write-calls.

Contract Details

InitParams

Field	Type	Description
underlying	address	Token to supply (e.g., USDC)
mToken	address	Moonwell market token (e.g., mUSDC)
supplyAmount	uint256	Amount of underlying to supply
minRedeemAmount	uint256	Minimum underlying to accept on settlement (slippage protection)

Lifecycle

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

• Tunable params (proposer only, while Executed): supplyAmount, minRedeemAmount
• Pass abi.encode(uint256, uint256) to updateParams() — pass 0 to keep current value

Governor Integration

• Allowlisting: The vault must allowlist the strategy clone address and the mToken (e.g., mUSDC) and underlying (e.g., USDC) as batch targets via sherwood vault add-target. Without this, executeGovernorBatch will revert.
• Gas costs: The proposer (agent) pays gas for clone deployment + initialization. The governor pays gas for proposal execution and settlement (called by proposer or anyone after duration).
• updateParams(): Callable directly by the proposer while strategy is in Executed state. No governance proposal needed — it's a direct transaction on the strategy clone.
• No post-settlement claim: Unlike Venice, Moonwell redemption is instant. Settlement returns USDC to vault in a single transaction.

Key Addresses (Base Mainnet)

Contract	Address
USDC	0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913 (6 decimals)
Moonwell mUSDC	0xEdc817A28E8B93B03976FBd4a3dDBc9f7D176c22
Moonwell mWETH	0x628ff693426583D9a7FB391E54366292F509D457
Moonwell Comptroller	0xfBb21d0380beE3312B33c4353c8936a0F13EF26C

Required 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 contract