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Morpho(MORPHO)

Total Value Locked$11.246b

TVL by Chain

Ethereum$5.151b

Base$4.441b

Robinhood Chain$618.37m

Arc$312.39m

Monad$173.56m

Hyperliquid L1$147.06m

Pharos$67.62m

Tempo$65.1m

Morph$62.31m

Flare$47.05m

World Chain$39.87m

Arbitrum$33.95m

Katana$30.06m

Stable$27.86m

Citrea$8.71m

OP Mainnet$3.93m

Etherlink$3.66m

Sei$3.54m

Polygon$3.12m

Plume Mainnet$2.51m

Unichain$1.11m

MegaETH$928,900

XDC$551,696

Celo$537,328

TAC$342,537

Kaia$328,907

Abstract$39,049

Soneium$28,560

Lisk$9,040

Hemi$1,815

Avalanche$629

Fraxtal$373

Sonic$103

RISE$96

BSC$82

0G$40

Scroll$37

Ink$13

Corn$0

Botanix$0

Zircuit$0

Bitlayer$0

Mode$0

Gnosis$0

Linea$0

Key Metrics

Fees 30d$21.35m
Fees 30d by chain

Ethereum$9.61m

Base$8.58m

Robinhood Chain$1.72m

Monad$625,035

Hyperliquid L1$309,966

Arc$111,212

Stable$108,557

Flare$102,633

Katana$60,412

Pharos$42,861

Arbitrum$37,720

Plume Mainnet$19,943

Polygon$6,512

Tempo$5,985

OP Mainnet$5,589

Unichain$5,000

Abstract$4,896

Citrea$2,852

World Chain$87.16

Celo$37.35

Etherlink$13

Morph$0.38

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 7d$5.58m

Base$2.43m

Ethereum$2.28m

Robinhood Chain$417,252

Monad$150,422

Stable$100,870

Arc$76,798

Hyperliquid L1$49,524

Flare$20,402

Arbitrum$13,983

Katana$11,962

Pharos$10,932

Plume Mainnet$5,251

Abstract$2,262

Polygon$1,820

OP Mainnet$1,096

Citrea$996

Unichain$850.85

Tempo$89.08

Celo$9.41

World Chain$0.65

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 24h$764,641

Ethereum$340,243

Base$299,237

Robinhood Chain$62,540

Monad$19,669

Arc$15,807

Stable$9,255

Hyperliquid L1$6,712

Flare$3,151

Katana$2,450

Pharos$2,326

Arbitrum$2,318

Plume Mainnet$321

Polygon$272

OP Mainnet$169

Unichain$158

Tempo$13.64

Abstract$0.09

World Chain$0.05

Celo$0

Citrea$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Cumulative Fees$367.71m

Ethereum$220.85m

Base$113.07m

Hyperliquid L1$15.51m

Arbitrum$4.71m

Robinhood Chain$3.83m

Katana$2.92m

Monad$2.8m

Polygon$1.28m

Unichain$1.06m

Flare$461,083

Stable$361,404

OP Mainnet$314,473

Arc$127,294

Plume Mainnet$120,640

Soneium$90,232

Pharos$77,558

Corn$40,518

World Chain$36,262

Tempo$13,177

Abstract$12,428

Citrea$10,806

Hemi$3,640

Etherlink$3,354

Celo$692.05

Fraxtal$1

Morph$0.38

Ink$0

Mode$0

Scroll$0

Sonic$0

Zircuit$0

Revenue 30d$0
Revenue 30d by chain

Abstract$0

Arbitrum$0

Arc$0

Base$0

Celo$0

Citrea$0

Ethereum$0

Etherlink$0

Flare$0

Fraxtal$0

Hemi$0

Hyperliquid L1$0

Ink$0

Katana$0

Mode$0

Monad$0

Morph$0

OP Mainnet$0

Pharos$0

Plume Mainnet$0

Polygon$0

Robinhood Chain$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

World Chain$0

Zircuit$0

Revenue 7d$0

Abstract$0

Arbitrum$0

Arc$0

Base$0

Celo$0

Citrea$0

Ethereum$0

Flare$0

Fraxtal$0

Hemi$0

Hyperliquid L1$0

Ink$0

Katana$0

Mode$0

Monad$0

Morph$0

OP Mainnet$0

Pharos$0

Plume Mainnet$0

Polygon$0

Robinhood Chain$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

World Chain$0

Zircuit$0

Revenue 24h$0

Abstract$0

Arbitrum$0

Arc$0

Base$0

Celo$0

Citrea$0

Ethereum$0

Flare$0

Fraxtal$0

Hemi$0

Hyperliquid L1$0

Ink$0

Katana$0

Mode$0

Monad$0

Morph$0

OP Mainnet$0

Pharos$0

Plume Mainnet$0

Polygon$0

Robinhood Chain$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

World Chain$0

Zircuit$0

Cumulative Revenue$0

Abstract$0

Arbitrum$0

Arc$0

Base$0

Celo$0

Citrea$0

Corn$0

Ethereum$0

Etherlink$0

Flare$0

Fraxtal$0

Hemi$0

Hyperliquid L1$0

Ink$0

Katana$0

Mode$0

Monad$0

Morph$0

OP Mainnet$0

Pharos$0

Plume Mainnet$0

Polygon$0

Robinhood Chain$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

World Chain$0

Zircuit$0

Holders Revenue 30d$0
Holders Revenue 30d by chain

Abstract$0

Arbitrum$0

Arc$0

Base$0

Celo$0

Citrea$0

Ethereum$0

Etherlink$0

Flare$0

Fraxtal$0

Hemi$0

Hyperliquid L1$0

Ink$0

Katana$0

Mode$0

Monad$0

Morph$0

OP Mainnet$0

Pharos$0

Plume Mainnet$0

Polygon$0

Robinhood Chain$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

World Chain$0

Zircuit$0

Holders Revenue 7d$0

Abstract$0

Arbitrum$0

Arc$0

Base$0

Celo$0

Citrea$0

Ethereum$0

Flare$0

Fraxtal$0

Hemi$0

Hyperliquid L1$0

Ink$0

Katana$0

Mode$0

Monad$0

Morph$0

OP Mainnet$0

Pharos$0

Plume Mainnet$0

Polygon$0

Robinhood Chain$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

World Chain$0

Zircuit$0

Holders Revenue 24h$0

Abstract$0

Arbitrum$0

Arc$0

Base$0

Celo$0

Citrea$0

Ethereum$0

Flare$0

Fraxtal$0

Hemi$0

Hyperliquid L1$0

Ink$0

Katana$0

Mode$0

Monad$0

Morph$0

OP Mainnet$0

Pharos$0

Plume Mainnet$0

Polygon$0

Robinhood Chain$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

World Chain$0

Zircuit$0

Cumulative Holders Revenue$0

Abstract$0

Arbitrum$0

Arc$0

Base$0

Celo$0

Citrea$0

Corn$0

Ethereum$0

Etherlink$0

Flare$0

Fraxtal$0

Hemi$0

Hyperliquid L1$0

Ink$0

Katana$0

Mode$0

Monad$0

Morph$0

OP Mainnet$0

Pharos$0

Plume Mainnet$0

Polygon$0

Robinhood Chain$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

World Chain$0

Zircuit$0

Incentives 1y$10.64m

Incentives 30d$532,133

Incentives 7d$113,750

Incentives 24h$1,607

Cumulative Incentives$46.33m

Earnings (30d Run Rate)-$6.49m

Earnings 30d-$532,133

Earnings 7d-$113,750

Earnings 24h-$1,607

Cumulative Earnings-$46.33m

Collateral Liquidated 30d$1.86m
Collateral Liquidated 30d by chain

Base$975,511

Robinhood Chain$566,246

Ethereum$150,288

Abstract$69,797

Flare$61,449

Hyperliquid L1$14,416

World Chain$10,479

Polygon$7,993

Plume Mainnet$770.76

Katana$117.65

Arbitrum$64.74

Morph$5.48

Monad$0.40

Arc$0

Celo$0

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

OP Mainnet$0

Pharos$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

Zircuit$0

Collateral Liquidated 7d$1.04m

Base$857,353

Abstract$69,227

Ethereum$65,581

Robinhood Chain$25,783

Flare$10,983

World Chain$8,393

Hyperliquid L1$2,386

Polygon$1,999

Plume Mainnet$179.79

Arbitrum$44.38

Katana$10.67

Monad$0.40

Arc$0

Celo$0

Citrea$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

OP Mainnet$0

Pharos$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

Zircuit$0

Collateral Liquidated 24h$63,172

Ethereum$46,987

Base$6,341

Flare$5,750

Robinhood Chain$3,155

Hyperliquid L1$803

World Chain$78

Plume Mainnet$57

Arbitrum$0.58

Abstract$0

Arc$0

Celo$0

Citrea$0

Fraxtal$0

Hemi$0

Ink$0

Katana$0

Mode$0

Monad$0

Morph$0

OP Mainnet$0

Pharos$0

Polygon$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

Zircuit$0

Cumulative Collateral Liquidated$88.05m

Ethereum$81.6m

Base$2.92m

Hyperliquid L1$2.58m

Robinhood Chain$690,811

Flare$130,123

Abstract$76,746

Celo$22,905

Polygon$13,297

World Chain$10,931

Plume Mainnet$3,747

Arbitrum$3,124

Katana$646.41

OP Mainnet$18

Morph$5.48

Pharos$1.39

Monad$0.40

Sonic$0.04

Arc$0

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Stable$0

Tempo$0

Unichain$0

Zircuit$0

Market Cap$1.613b

$MORPHO Price$2.30

All Time High$4.17

All Time Low$0.71

View $MORPHO token page

Fully Diluted Valuation$2.303b

Outstanding FDV$2.3b

$MORPHO Volume 24h$26.96m

CEX Volume$15.36m

DEX Volume$11.75m(43.57% of total)

Active Loans$5.777b

Treasury$31.79m

Majors$73.77

Stablecoins$99.91

Own Tokens$31.79m

Others$1,501

Total Raised$243m

Jul 13, 2022$18mRound: StrategicInvestors: a16z, Variant

Feb 28, 2024Round: PrivateInvestors: Pantera Capital

Aug 1, 2024$50mRound: StrategicInvestors: Ribbit Capital, a16z crypto, Coinbase Ventures, Variant Fund, Pantera Capital, Brevan Howard, BlockTower Capital, Kraken Ventures, Hack VC, IOSG, RockawayX, L1D, Mirana Ventures, Cherry Crypto, Semantic, Fenbushi Capital, LeadBlock Partners, Robot Ventures

Jun 9, 2026$175mRound: Investors: Paradigm, a16z crypto, Ribbit Capital, VanEck, Apollo Global Management, Circle Ventures, Ledger Cathay Capital, Variant Fund, Wintermute Ventures, IOSG Ventures, HashKey Capital, SBI Group, BPI France, Mirana Ventures

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Protocol Information

Morpho is a permissionless decentralized lending platform that operates on two levels: it offers tailored solutions for users to earn and borrow on their terms and provides a flexible infrastructure stack that empowers developers and businesses to build custom applications. Morpho's unique value lies in offering users the ability to tailor their own risk-reward profile by selecting from curated vaults, markets, or products.

WebsiteGitHubX/Twitter
Category:Lending
Products:

Methodology

TVL: Total value of all coins held in the smart contracts of the protocol

Fees:

Morpho Blue - Total borrow interest paid by borrowers + liquidation bonues earned by liquidators.View code on GitHubMorpho Midnight - Total borrow interest paid by borrowers: for every trade, the face value of the debt (units) minus the loan tokens the borrower received (sellerAssets), i.e. the fixed-rate discount locked in at execution.View code on GitHub

Revenue:

Morpho Blue - No revenue for Morpho protocol.View code on GitHubMorpho Midnight - Protocol fees kept by Morpho: the settlement fee (taker-paid spread on each trade) plus the continuous fee accrued on new lender credit. Both are disabled at launch, so Revenue is currently 0.View code on GitHub
Holders Revenue: View code on GitHub

Collateral Liquidated: USD value of collateral seized during protocol liquidations

Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.

Earnings: Revenue of the protocol minus the incentives distributed to users

Yields

Pools Tracked262

Average Supply APY4.62%

User Activity

Active Addresses (24h)3,166

Transactions (24h)59,011

Competitors

Aave V3 ($17.283b)Avalon Finance ($1.26m)Euler V2 ($297.62m)Ajna V2 ($46,880)PWN ($22,103)Gearbox ($23.31m)LayerBank ($2.55m)Tarot ($739,620)Impermax V2 ($579,367)Compound V3 ($1.406b)

Frequently asked questions

What is Morpho's TVL?

Morpho currently has $11.246b in total value locked. TVL has increased 15.3% over the past 30 days.

What chains does Morpho operate on?

Morpho operates on 45 chains: Ethereum, Base, Robinhood Chain, Arc, and Monad and 40 others. Ethereum holds the largest share at 45.8%.

How much has Morpho generated in fees and revenue?

Over the past 30 days, Morpho generated $21.35m in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $204.27m in fees.

What is the MORPHO token price and valuation?

MORPHO is currently trading at $2.32. Its circulating market capitalization is $1.622b, ranking it #78. Its fully diluted valuation is $2.315b. Supply currently stands at 700.5m circulating, 1b total supply, 1b maximum supply.

How has MORPHO performed recently?

MORPHO is down 17.1% over the past 7 days and up 4.1% over the past 30 days. Its all-time high is $4.17, reached on Jan 17, 2025. The token is currently 44.4% below that level.

How does Morpho's TVL compare to similar protocols?

Among Lending protocols tracked by DefiLlama, Morpho ranks #2 by TVL. The category holds $52.397b across 519 protocols, and Morpho accounts for 21.4% of that total. Other leading protocols include Aave V3, Avalon Finance, Euler V2, Ajna V2, PWN, Gearbox, LayerBank, Tarot, Impermax V2, and Compound V3.

How much has been borrowed through Morpho?

Morpho currently has $5.777b in active loans.

Does Morpho have a treasury?

Morpho has a tracked treasury currently valued at $31.79m. Its holdings include $99.91 in stablecoins, $73.77 in major assets, $31.79m in its own tokens, $1,501 in other assets.