If you're into DeFi and keeping an eye on lending protocols, you've probably heard of Moonwell. It's a decentralized platform that makes borrowing and lending crypto assets straightforward, without the hassle of traditional finance. Built on networks like Base, Moonbeam, and Moonriver, Moonwell lets users supply assets to earn interest or borrow against their holdings. And guess what? October 2025 was a blockbuster month for them.

According to a recent post on X from the Moonwell team, the protocol racked up a whopping $2.12 million in fees—the highest ever in a single month. This revenue didn't just vanish into thin air; it was split between lenders and the protocol's reserves. Lenders get a cut for providing liquidity, while the reserves help stabilize and grow the ecosystem.

Looking at the chart they shared, you can see the steady climb in fees over time, with Base (in blue) dominating the recent spikes and OP Mainnet (in red) contributing solidly. This growth stems from surging borrowing demand. When more people borrow, interest rates tick up, generating more fees. Those fees then fuel reserve auctions, where the protocol buys back WELL tokens, potentially adding value for holders.

For those new to this, WELL is Moonwell's native governance token. It lets users vote on protocol decisions and can be staked for rewards. With more revenue flowing in, these auctions mean more WELL gets scooped up by the reserves, which could reduce circulating supply and support the token's price over time. As of now, WELL is trading around $0.0137, but with metrics like this, it's worth watching.

This milestone highlights how DeFi protocols like Moonwell are maturing, especially on efficient Layer 2 networks like Base and Optimism. Base, built by Coinbase, offers low-cost transactions, making it ideal for everyday DeFi users. OP Mainnet, part of the Optimism ecosystem, brings scalability to Ethereum. Together, they're powering Moonwell's expansion.

If you're a blockchain practitioner or just dipping your toes into crypto lending, Moonwell's approach—simple UI, low fees, and real revenue generation—makes it a standout. Head over to moonwell.fi to check it out yourself. With borrowing on the rise, who knows what November will bring?

Why This Matters for Meme Token Enthusiasts

Even if you're more into meme coins, understanding DeFi platforms like Moonwell can level up your game. Many meme tokens thrive in ecosystems with strong lending options, allowing you to leverage positions or earn yields. Plus, as Moonwell grows, it could open doors for integrations with fun, community-driven assets.

Stay tuned to Meme Insider for more updates on how DeFi intersects with the wild world of memes.