Key Highlights
- Moonwell issued an urgent warning ahead of Moonbeam’s July 31 shutdown.
- Users with positions on Moonbeam may lose access if they fail to migrate.
- WELL holders are advised to move tokens to Base, Optimism, or Ethereum.
Moonwell, a decentralized finance (DeFi) protocol, has issued an urgent notice to its users regarding the upcoming shutdown of the Moonbeam network. The announcement comes after Moonbeam revealed that its network on Polkadot will officially sunset on July 31, 2026, marking the end of an era for the ecosystem.
According to the official announcement, users who have assets or active positions on Moonwell’s Moonbeam deployment are strongly advised to take immediate action. The protocol notes that any remaining on-chain assets and positions after the sunset date may become inaccessible. This development requires users to migrate their holdings promptly to avoid potential loss of funds.
To ensure an orderly wind-down of operations, Moonwell’s risk manager, Anthias, will recommend accelerated reductions in collateral factors for Moonwell markets on Moonbeam during this month’s parameter update. These adjustments aim to gradually decrease risk exposure as the network approaches its closure.
Key actions for WELL token holders
Holders of the WELL governance token on Moonbeam are specifically urged to transfer their tokens to supported networks before the July 31 deadline. Recommended destinations include Base, Optimism, and Ethereum Mainnet.
Moonwell has provided a dedicated transfer tool at moonwell.fi/transfer to facilitate smooth cross-chain movement. Additional migration details and resources are available on Moonbeam’s official migrator portal: migrate.portal.moonbeam.network/migrator. Users with questions or needing assistance are encouraged to reach out via Moonwell’s support chat at support.moonwell.fi.
What is Moonbeam’s decision
Moonbeam Network has announced a major strategic shift, migrating its native token GLMR from the Polkadot ecosystem to Base. The migration will occur on a 1:1 basis, converting GLMR into a native ERC-20 token on Base. The official bridge is now open, with a final deadline of July 31, 2026.
Holders who bridge their tokens will maintain their stake in the protocol. However, the move signals the eventual wind-down of Moonbeam’s primary operations on Polkadot. Users with assets in DeFi protocols on Moonbeam, such as liquidity pools, lending markets, or staking contracts, are strongly advised to withdraw funds before bridging to avoid potential inaccessibility.
Users holding GLMR on centralized exchanges do not need to take action, as platforms are expected to handle the migration. In parallel, Moonbeam introduced the new Moonbeam Protocol, a decentralized network designed for AI agent communication, task negotiation, and verifiable on-chain settlements.
Moonwell emphasizes early action
This event serves as a reminder of the importance of staying informed about infrastructure changes in the fast-moving DeFi space. Users are encouraged to review their positions, withdraw liquidity where necessary, and complete migrations ahead of schedule to avoid last-minute congestion or technical issues.
For many, the transition represents both a challenge and an opportunity to engage with Moonwell’s deployments on more prominent Layer 2 networks like Base and Optimism, which often offer improved liquidity, lower fees, and broader ecosystem integration.
As the July 31 sunset approaches, Moonwell continues to monitor the situation and support users through the wind-down process. The protocol has emphasized that early action is the best way to safeguard assets during this network migration period.
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