Ask about Morpho
Logo of MorphoMorpho(MORPHO)
Total Value Locked$7.872b

TVL by Chain

Ethereum$3.631b

Base$3.257b

Robinhood Chain$326.39m

Hyperliquid L1$251.3m

Monad$148.85m

Katana$51.1m

Flare$42.07m

Stable$32m

World Chain$24.87m

Tempo$23.31m

Arbitrum$23.15m

Sei$16.17m

Pharos$10.38m

Morph$10.22m

Plume Mainnet$6.51m

Citrea$4.14m

Etherlink$3.65m

Polygon$3.29m

OP Mainnet$1.83m

Unichain$1.12m

MegaETH$914,197

Celo$798,946

TAC$534,890

XDC$486,945

Abstract$288,103

Kaia$225,910

Soneium$23,848

Lisk$9,436

Scroll$7,512

Hemi$1,660

Fraxtal$296

BSC$87

Sonic$83

0G$30

Ink$13

Corn$0

Botanix$0

Linea$0

Zircuit$0

Bitlayer$0

Mode$0

Gnosis$0

Key Metrics

Fees (Annualized)$222.65m
Fees 30d$25.16m

Ethereum$15.91m

Base$6.37m

Hyperliquid L1$1.84m

Robinhood Chain$499,175

Monad$282,315

Flare$91,938

Katana$52,437

Arbitrum$46,088

Plume Mainnet$20,545

Stable$13,721.04

OP Mainnet$8,028

Unichain$7,920.93

Polygon$4,959.92

Pharos$2,971.54

Morph$2,298

Citrea$1,807.45

Etherlink$1,224.14

Abstract$593.89

World Chain$120.42

Celo$37.33

Tempo$23.23

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 7d$3.64m

Ethereum$1.67m

Base$1.55m

Robinhood Chain$171,469

Hyperliquid L1$133,911

Monad$58,197

Flare$17,660

Katana$11,924

Arbitrum$10,359

Plume Mainnet$5,381

Morph$2,298

Pharos$2,121

OP Mainnet$1,169

Polygon$984.68

Unichain$613.65

Citrea$352

Abstract$85.44

Etherlink$37.01

Stable$31.19

Tempo$15.8

Celo$10.33

World Chain$4.88

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 24h$507,188.94

Base$230,440.94

Ethereum$207,118

Robinhood Chain$28,191

Hyperliquid L1$19,635

Monad$15,538

Flare$2,138

Katana$1,801

Arbitrum$1,125

Plume Mainnet$648

OP Mainnet$194

Pharos$154

Unichain$108

Polygon$63.33

Morph$18

Stable$7.5

Celo$4.72

Tempo$3.61

World Chain$0.61

Abstract$0.01

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Cumulative Fees$336.39m

Ethereum$212.41m

Base$95.34m

Hyperliquid L1$15.92m

Arbitrum$4.65m

Katana$2.8m

Monad$1.57m

Polygon$1.27m

Unichain$1.05m

Robinhood Chain$530,734

OP Mainnet$302,414

Flare$233,627

Soneium$90,226

Plume Mainnet$67,800

Stable$64,411.54

Corn$40,518

World Chain$36,494.02

Citrea$5,738.45

Hemi$3,644

Pharos$3,125.54

Abstract$2,639.9

Morph$2,298

Etherlink$1,550.14

Celo$686.33

Tempo$27.78

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$15.4m

$308,989.29

$62,816.75

$45.18m

Earnings (30d Run Rate)-$3.77m

-$308,989.29

-$62,816.75

-$45.18m

Collateral Liquidated 30d$6.39m
Collateral Liquidated 30d by chain

Ethereum$4.37m

Hyperliquid L1$1.88m

Base$115,795.94

Flare$9,898

Polygon$5,232.08

Arbitrum$2,986

Plume Mainnet$2,151.4

Abstract$1,107.82

Katana$262.19

Celo$112

World Chain$32.76

Robinhood Chain$28.98

OP Mainnet$18

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Pharos$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Zircuit$0

Collateral Liquidated 7d$1.96m

Ethereum$1.88m

Hyperliquid L1$59,952

Base$13,214.94

Polygon$5,231

Flare$722

Plume Mainnet$135.61

Celo$112

Arbitrum$25

OP Mainnet$18

World Chain$14.65

Robinhood Chain$13.22

Abstract$9.82

Katana$8.29

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Pharos$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Zircuit$0

Collateral Liquidated 24h$780

Flare$628

Celo$112

Arbitrum$25

Plume Mainnet$12

Robinhood Chain$1.86

Base$0.94

World Chain$0.52

Abstract$0

Citrea$0

Ethereum$0

Etherlink$0

Fraxtal$0

Hemi$0

Hyperliquid L1$0

Ink$0

Katana$0

Mode$0

Morph$0

OP Mainnet$0

Pharos$0

Polygon$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Zircuit$0

Cumulative Collateral Liquidated$45.36m

Ethereum$43.34m

Hyperliquid L1$1.88m

Base$118,914.94

Flare$11,651

Polygon$5,232.08

Arbitrum$3,011

Plume Mainnet$2,163.4

Abstract$1,107.82

Katana$262.19

Celo$112

World Chain$33.07

Robinhood Chain$30.84

OP Mainnet$18

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Pharos$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Zircuit$0

Market Cap$1.255b

$MORPHO Price$1.91

All Time High$4.17

All Time Low$0.71

View $MORPHO token page

$1.913b

$1.91b

$MORPHO Volume 24h$12.77m

CEX Volume$5.03m

DEX Volume$7.7m(60.29% of total)

Active Loans$4.307b

$MORPHO Liquidity$6.54m

Aerodrome Slipstream$3.24m

Uniswap V3$1.87m

Uniswap V3$1.34m

Aerodrome V1$91,302

Treasury$25.97m

$57.23

Stablecoins$99.91

Own Tokens$25.97m

Others$1,789.44

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 Tracked234

Average Supply APY4.18%

Competitors

Morpho Blue ($7.836b)Aave V3 ($14.15b)Avalon Finance ($1.33m)Euler V2 ($364.04m)PWN ($23,778.58)SparkLend ($3.785b)Maple ($2.283b)Compound V3 ($1.144b)Venus Core Pool ($1.065b)Fluid Lending ($663.2m)

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 $7.872b in total value locked. TVL has increased 9.4% 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 46.1%.

How much has Morpho generated in fees and revenue?

Over the past 30 days, Morpho generated $25.16m in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $222.65m in fees.

What is the MORPHO token price and valuation?

MORPHO is currently trading at $1.91. Its circulating market capitalization is $1.255b, ranking it #73. Its fully diluted valuation is $1.913b. Supply currently stands at 655.85m circulating, 1b total supply, 1b maximum supply.

How has MORPHO performed recently?

MORPHO is down 1.4% over the past 7 days and down 3.1% over the past 30 days. Its all-time high is $4.17, reached on Jan 17, 2025. The token is currently 54.2% 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 $41.066b across 466 protocols, and Morpho accounts for 19.1% of that total. Other leading protocols include Aave, Spark, and JustLend.

How much has been borrowed through Morpho?

Morpho currently has $4.307b in active loans.

Does Morpho have a treasury?

Morpho has a tracked treasury currently valued at $25.97m. Its holdings include $99.91 in stablecoins, $57.23 in major assets, $25.97m in its own tokens, $1,789.44 in other assets.