Ask about Morpho
Logo of MorphoMorpho(MORPHO)
Total Value Locked$7.969b

TVL by Chain

Ethereum$3.627b

Base$3.306b

Robinhood Chain$363.97m

Hyperliquid L1$263.59m

Monad$156.28m

Katana$47.78m

Flare$37.69m

Stable$31.48m

Tempo$26.57m

World Chain$24.94m

Arbitrum$20.89m

Sei$16.03m

Morph$12.08m

Pharos$11.2m

Plume Mainnet$6.59m

Citrea$4.07m

Etherlink$3.65m

Polygon$3.21m

OP Mainnet$1.82m

Unichain$975,729

MegaETH$930,557

Celo$716,595

TAC$564,798

XDC$458,159

Kaia$226,666

Abstract$178,525

Soneium$22,547

Lisk$9,350

Scroll$7,301

Hemi$1,600

Fraxtal$291

Sonic$83

BSC$77

0G$32

Ink$13

Corn$0

Botanix$0

Gnosis$0

Linea$0

Zircuit$0

Bitlayer$0

Mode$0

Key Metrics

Fees (Annualized)$222.39m
Fees 30d$17.43m

Ethereum$8.04m

Base$6.69m

Hyperliquid L1$1.45m

Robinhood Chain$658,105

Monad$351,524

Flare$80,974

Katana$53,496

Arbitrum$47,205

Plume Mainnet$22,116

Pharos$6,974.63

Unichain$5,811.63

OP Mainnet$5,500

Polygon$4,966.95

Morph$2,298

Citrea$1,461.45

Etherlink$1,260.14

Celo$1,011.67

Abstract$445.58

Stable$155.12

World Chain$120.98

Tempo$59.59

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 7d$3.77m

Base$1.72m

Ethereum$1.54m

Robinhood Chain$215,805

Hyperliquid L1$126,218

Monad$112,742

Flare$17,252

Katana$13,351

Arbitrum$11,599

Plume Mainnet$6,054

Pharos$4,003.09

Polygon$1,320.03

OP Mainnet$1,114

Celo$991.34

Unichain$674.7

Etherlink$534

Citrea$123

Abstract$87.69

Tempo$36.36

World Chain$7.56

Stable$7.08

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 24h$533,203.53

Base$233,554.53

Ethereum$223,379

Robinhood Chain$31,697

Hyperliquid L1$19,002

Monad$18,466

Flare$2,370

Katana$1,316

Arbitrum$1,178

Plume Mainnet$1,037

Pharos$758

OP Mainnet$176

Polygon$176

Unichain$78.7

Tempo$8.32

Abstract$6.09

World Chain$0.58

Celo$0.02

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Zircuit$0

Cumulative Fees$339.66m

Ethereum$213.74m

Base$96.83m

Hyperliquid L1$16.03m

Arbitrum$4.66m

Katana$2.81m

Monad$1.67m

Polygon$1.27m

Unichain$1.05m

Robinhood Chain$717,954

OP Mainnet$303,346

Flare$248,647

Soneium$90,226

Plume Mainnet$72,908

Stable$64,411.12

Corn$40,518

World Chain$36,500.98

Pharos$6,974.63

Citrea$5,861.45

Hemi$3,644

Abstract$2,727.58

Morph$2,298

Etherlink$2,084.14

Celo$1,677.67

Tempo$60.59

Fraxtal$1

Ink$0

Mode$0

Scroll$0

Sonic$0

Zircuit$0

Revenue (30d Run Rate)$0
Revenue 30d$0

Abstract$0

Arbitrum$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

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 24h$0

Abstract$0

Arbitrum$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

Cumulative Revenue$0

Abstract$0

Arbitrum$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 Run Rate)$0
Holders Revenue 30d$0

Abstract$0

Arbitrum$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

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 24h$0

Abstract$0

Arbitrum$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

Cumulative Holders Revenue$0

Abstract$0

Arbitrum$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$14.65m

$353,369.19

$80,329.33

$45.3m

Earnings (30d Run Rate)-$4.31m

-$353,369.19

-$80,329.33

-$45.3m

Collateral Liquidated 30d$6.88m
Collateral Liquidated 30d by chain

Ethereum$4.54m

Hyperliquid L1$1.87m

Base$401,225.94

Flare$34,496

Celo$22,905

Polygon$5,232.08

Arbitrum$2,986

Plume Mainnet$1,376.66

Katana$144.21

Abstract$131.82

World Chain$99.69

Robinhood Chain$29.24

OP Mainnet$18

Pharos$1.39

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Zircuit$0

Collateral Liquidated 7d$662,896.92

Ethereum$321,653.25

Base$288,570

Flare$29,710

Celo$22,793

World Chain$80.93

Hyperliquid L1$68.32

Plume Mainnet$20.26

Pharos$1.39

Robinhood Chain$0.26

Katana$0.02

Abstract$0

Arbitrum$0

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

OP Mainnet$0

Polygon$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Zircuit$0

Collateral Liquidated 24h$1,935.92

Flare$1,409

Base$513

Ethereum$10.25

Plume Mainnet$1.56

Pharos$1.39

World Chain$0.36

Hyperliquid L1$0.3

Abstract$0

Arbitrum$0

Celo$0

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Katana$0

Mode$0

Morph$0

OP Mainnet$0

Polygon$0

Robinhood Chain$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Zircuit$0

Cumulative Collateral Liquidated$46.02m

Ethereum$43.66m

Hyperliquid L1$1.88m

Base$404,365.94

Flare$39,608

Celo$22,905

Polygon$5,232.08

Arbitrum$2,986

Plume Mainnet$2,171.66

Abstract$1,107.82

Katana$262.21

World Chain$113.69

Robinhood Chain$29.24

OP Mainnet$18

Pharos$1.39

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Zircuit$0

Market Cap$1.298b

$MORPHO Price$1.98

All Time High$4.17

All Time Low$0.71

View $MORPHO token page

$1.978b

$1.98b

$MORPHO Volume 24h$12.8m

CEX Volume$5.44m

DEX Volume$7.42m(57.94% of total)

Active Loans$4.402b

$MORPHO Liquidity$6.54m

Aerodrome Slipstream$3.24m

Uniswap V3$1.87m

Uniswap V3$1.34m

Aerodrome V1$91,302

Treasury$26.86m

$56.34

Stablecoins$99.91

Own Tokens$26.86m

Others$1,547.19

Total Raised

Jul 13, 2022$18mRound: Strategic Investors: a16z, Variant

Feb 28, 2024Round: PrivateInvestors: Pantera Capital

Aug 1, 2024$50mRound: Strategic Investors: 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

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.

Category:Lending

WebsiteGitHubTwitter

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 Tracked233

Average Supply APY4.15%

Competitors

Aave V3 ($14.119b)Avalon Finance ($1.33m)Euler V2 ($361.87m)PWN ($20,523.04)Gearbox ($17.31m)SparkLend ($3.545b)Maple ($2.389b)Compound V3 ($1.131b)Venus Core Pool ($1.071b)Lista Lending ($712.32m)

Frequently Asked Questions

What is Morpho?

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.

What is Morpho's TVL?

Morpho currently has $7.969b in total value locked. TVL has increased 12.3% over the past 30 days.

What chains does Morpho operate on?

Morpho operates on 42 chains: Ethereum, Base, Robinhood Chain, Hyperliquid L1, and Monad and 37 others. Ethereum holds the largest share at 45.5%.

How much has Morpho generated in fees and revenue?

Over the past 30 days, Morpho generated $17.43m in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $222.39m in fees.

What is the MORPHO token price and valuation?

MORPHO is currently trading at $1.99. Its circulating market capitalization is $1.303b, ranking it #72. Its fully diluted valuation is $1.986b. Supply currently stands at 656.27m circulating, 1b total supply, 1b maximum supply.

How has MORPHO performed recently?

MORPHO is up 5.2% over the past 7 days and up 0.1% over the past 30 days. Its all-time high is $4.17, reached on Jan 17, 2025. The token is currently 52.3% 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 $41.003b across 467 protocols, and Morpho accounts for 19.4% of that total. Other leading protocols include Aave, Spark, and JustLend.

How much has been borrowed through Morpho?

Morpho currently has $4.402b in active loans.

Does Morpho have a treasury?

Morpho has a tracked treasury currently valued at $26.86m. Its holdings include $99.91 in stablecoins, $56.34 in major assets, $26.86m in its own tokens, $1,547.19 in other assets.