Moola Market
Moola Market is a lending platform on Celo that supports CELO, cUSD, and cEUR. Depositors earn the interest that borrowers pay. At the 2026-08-16 survey, it held about $0.96M on Celo, under one percent of the size floor. A lending market this small cannot take advised client money without the client dominating the pool: one practice advising 100 households moves $1M to $8M into a venue based on the same research. The protocol is below the size floor, so we do not open an individual review until it clears that floor, whatever the market’s quality.
- TVL sustained above the retired TVL threshold for 30 days
Watched nightly: a warning on its venues or files, or a cited document that changes, reopens the memo. The first confirmation is due 2026-11-15.
The research file
Mechanism applicability
Moola suppliers deposit Celo-network assets into lending-pool contracts and receive transferable mTokens that represent principal plus interest added block by block. Borrowers post collateral, draw open-ended overcollateralized loans, and pay rates based on use of the pool. The lender’s claim depends on the smart contracts, borrower collateral, and liquidations working as intended. The measured market is below the shared version-1 size floor, so we do not open an individual review until it clears that floor.
Current observation and perimeter
The DefiLlama protocol API read on 2026-08-16 classified Moola Market as Lending and reported approximately $0.96M supplied and $0.16M borrowed, entirely on Celo. Current Moola documentation and application materials still identify Celo, mTokens, and the CELO and Celo stablecoin markets. The sources continue to support the existing one-chain scope and lending classification.
Control and exit applicability
Governance controls asset listings, LTVs, liquidation thresholds, fees, contract implementations, and oracles. A 4-of-10 multisig carries out proposals and also holds emergency authority. A separate emergency admin can pause the market. Suppliers may request a withdrawal at any time, but redemption requires unused liquidity in the pool. Rates that rise with use encourage repayment when liquidity is scarce, but they do not guarantee an immediate exit of the proposed size.
Why the class rule decides
At roughly $0.96M supplied, a $1M advised book would already exceed the entire market, and an $8M book would exceed it many times before any stress from collateral, oracles, or withdrawals. The protocol is below the shared version-1 size floor, so we do not open an individual review until it clears that floor. Reopen after supplied TVL remains above the size floor for 30 consecutive days, then review each asset and borrower concentration, governance and emergency powers, oracle and liquidation performance, incidents and remediation, proposed-size withdrawals, legal access, and named larger lending alternatives.
Research status
This is a capacity-unproven record for Moola Market, not a quality rejection or approval. Reported TVL says how big the venue is, not what the client owns, who can change the rules, or how a position exits at a proposed size. The individual review opens when the protocol clears the size floor.
Sources
The claims above trace to these. Where a number could not be independently verified, the thesis says so.
- Moola — lending and mToken overview · primary · accessed 2026-08-16
Supports: Celo, deposit, withdraw, mToken, interest, smart contract risk - Moola — supplier yield and liquidity exits · primary · accessed 2026-08-16
Supports: utilization, supply yield, withdraw anytime, available liquidity, mTokens - Moola — borrowing and collateral mechanics · primary · accessed 2026-08-16
Supports: collateral, LTV, health factor, open-ended loan, liquidation threshold - Moola — governance and emergency controls · primary · accessed 2026-08-16
Supports: 4-of-10 multisig, timelock, oracle, market parameters, emergency admin, pause - DefiLlama — Moola Market survey record · secondary · accessed 2026-08-16
Supports: current TVL, borrowed amount, Celo, Lending category, survey observation
Inherited controls
The research above describes the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The layer with the most administrative power sets the position’s effective control; that describes control, not quality or suitability.
| Chain | Verdict | Control | Control constraint |
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