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USDC on Base: Moonwell at 16.16% observed APY

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The question, made explicit

Object of investigation
USDC supply on Moonwell, Base
Observation
ODEI read the variable on-chain supply APY of the reviewed Base USDC sources it can deposit into. Moonwell had the highest observed rate of the 8 it read in that block: 16.16% at 2026-10-25T03:23:27.000Z (block 53054630).
Hypothesis
The Moonwell USDC rate on Base stays at or above 16.1% APY long enough to be worth a deposit after network fees.
What would invalidate it
The observed rate falls below 8.08% APY, or Moonwell is no longer a reviewed source.

Starting evidence

1

Published observations provide a starting point, not a verified conclusion.

01

ODEI reviewed source for Moonwell USDC on Base, market 0xedc817a28e8b93b03976fbd4a3ddbc9f7d176c22. Observed APY: 16.16% at 2026-10-25T03:23:27.000Z (block 53054630).

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