Total Value Locked$11.339b
TVL by Chain
Ethereum$5.229b
Base$4.385b
Robinhood Chain$616.97m
Arc$297.45m
Monad$174.26m
Arbitrum$142.99m
Hyperliquid L1$130.04m
Morph$66.85m
Tempo$66.05m
Pharos$65.72m
Flare$44.09m
World Chain$37.13m
Stable$26.88m
Katana$26.61m
Citrea$8.59m
OP Mainnet$4.49m
Etherlink$4.36m
Polygon$3.23m
Sei$3.1m
Plume Mainnet$2.17m
Unichain$1.05m
MegaETH$927,374
Celo$540,867
XDC$536,600
TAC$331,207
Kaia$179,341
Abstract$33,730
Soneium$26,753
Lisk$3,780
Hemi$1,559
Avalanche$539
Fraxtal$353
Sonic$103
RISE$94
BSC$82
Scroll$36
0G$35
Ink$13
Mode$0
Corn$0
Zircuit$0
Bitlayer$0
Gnosis$0
Botanix$0
Linea$0
Key Metrics
Fees 30d$22.71m
Fees 30d by chain
Ethereum$9.91m
Base$9.29m
Robinhood Chain$1.78m
Monad$622,122
Hyperliquid L1$363,372
Arc$303,041
Stable$135,141
Flare$95,992
Arbitrum$84,588
Pharos$49,776
Katana$43,752
Plume Mainnet$13,507
Polygon$7,553
OP Mainnet$5,247
Unichain$3,759
Abstract$3,697
Citrea$1,889
Tempo$621.59
World Chain$81.61
Celo$46.87
Morph$0.38
Fraxtal$0
Hemi$0
Ink$0
Mode$0
Scroll$0
Soneium$0
Sonic$0
Zircuit$0
Fees 7d$5.24m
Ethereum$2.28m
Base$2.15m
Robinhood Chain$412,381
Monad$139,878
Arc$104,015
Hyperliquid L1$46,511
Arbitrum$46,468
Flare$22,339
Stable$14,995
Pharos$10,494
Katana$7,305
Plume Mainnet$2,206
Polygon$1,478
OP Mainnet$1,347
Unichain$423.01
Tempo$108.89
Celo$7.23
Abstract$0.38
World Chain$0.19
Citrea$0
Fraxtal$0
Hemi$0
Ink$0
Mode$0
Morph$0
Scroll$0
Soneium$0
Sonic$0
Zircuit$0
Fees 24h$738,974
Ethereum$326,122
Base$297,228
Robinhood Chain$54,047
Monad$22,543
Arc$18,435
Arbitrum$8,524
Hyperliquid L1$7,909
Flare$2,693
Katana$858
Plume Mainnet$261
OP Mainnet$192
Polygon$139
Tempo$15.22
Unichain$7.77
Celo$0.70
World Chain$0.02
Abstract$0
Citrea$0
Fraxtal$0
Hemi$0
Ink$0
Mode$0
Morph$0
Pharos$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Zircuit$0
Cumulative Fees$377.68m
Ethereum$225.11m
Base$117.16m
Hyperliquid L1$15.73m
Arbitrum$4.78m
Robinhood Chain$4.59m
Monad$3.06m
Katana$2.93m
Polygon$1.28m
Unichain$1.06m
Flare$503,360
Stable$386,420
Arc$322,189
OP Mainnet$316,762
Plume Mainnet$125,013
Pharos$99,029
Soneium$90,232
Corn$40,518
World Chain$36,266
Tempo$13,373
Abstract$12,428
Citrea$11,161
Hemi$3,640
Etherlink$3,354
Celo$712
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
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
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$9.93m
Incentives 30d$534,716
Incentives 7d$103,626
Incentives 24h$4,134
Cumulative Incentives$46.57m
Earnings (30d Run Rate)-$6.52m
Earnings 30d-$534,716
Earnings 7d-$103,626
Earnings 24h-$4,134
Cumulative Earnings-$46.57m
Collateral Liquidated 30d$6.04m
Collateral Liquidated 30d by chain
Base$3.35m
Hyperliquid L1$1.27m
Robinhood Chain$766,677
Ethereum$484,922
Abstract$69,502
Flare$64,884
World Chain$19,300
Polygon$7,994
Arbitrum$1,622
Plume Mainnet$1,036
Arc$496.39
Katana$242.66
Monad$7.29
Morph$5.48
Unichain$1.84
OP Mainnet$0.01
Celo$0
Citrea$0
Fraxtal$0
Hemi$0
Ink$0
Mode$0
Pharos$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Zircuit$0
Collateral Liquidated 7d$966,944
Base$450,021
Robinhood Chain$259,059
Ethereum$248,830
World Chain$6,304
Flare$1,308
Arbitrum$1,042
Hyperliquid L1$352.04
Plume Mainnet$28.81
Arc$0.39
OP Mainnet$0.01
Abstract$0
Celo$0
Citrea$0
Fraxtal$0
Hemi$0
Ink$0
Katana$0
Mode$0
Monad$0
Morph$0
Pharos$0
Polygon$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Unichain$0
Zircuit$0
Collateral Liquidated 24h$6,939
Ethereum$5,710
Arbitrum$781
Base$275
Robinhood Chain$109
World Chain$64
Abstract$0
Arc$0
Celo$0
Citrea$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
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Unichain$0
Zircuit$0
Cumulative Collateral Liquidated$92.38m
Ethereum$81.95m
Base$5.36m
Hyperliquid L1$3.84m
Robinhood Chain$955,053
Flare$133,722
Abstract$76,746
Celo$22,905
World Chain$19,820
Polygon$13,298
Arbitrum$4,690
Plume Mainnet$4,047
Katana$771.42
Arc$496.39
OP Mainnet$18.01
Monad$7.29
Morph$5.48
Unichain$1.84
Pharos$1.39
Sonic$0.04
Citrea$0
Etherlink$0
Fraxtal$0
Hemi$0
Ink$0
Mode$0
Scroll$0
Soneium$0
Stable$0
Tempo$0
Zircuit$0
Market Cap$1.409b
$MORPHO Price$2
Fully Diluted Valuation$2.005b
Outstanding FDV$2b
$MORPHO Volume 24h$16.69m
CEX Volume$9.75m
DEX Volume$7.43m(44.53% of total)
Active Loans$5.791b
Treasury$27.41m
Majors$69.53
Stablecoins$99.94
Own Tokens$27.41m
Others$1,121
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

Morpho bad debt or exploit in October 2026?
- Activity
- 12.4K TYD
- Liquidity
- 15.7K TYD
Rules & activity
This market will resolve to "Yes" if the Morpho protocol suffers a qualifying bad debt event or exploit at any time after the creation of this market and before November 1, 2026 - 00:00 UTC. Otherwise, this market will resolve to "No." For the purposes of this market: • "Exploit" is defined as a hack, smart contract vulnerability exploit, oracle manipulation, or compromised key attack on any official Morpho deployment resulting in a verifiable loss of $1,000,000 or more in a single incident. • "Bad debt" is defined as unrecoverable debt on any official Morpho deployment, where liquidated or undercollateralized positions leave the protocol with unpaid debt of $1,000,000 or more in a single incident, as confirmed by onchain data. • Only incidents occurring after market creation are eligible. Incidents that began before market creation do not qualify. • Losses must be realized and not covered in full by the protocol's own mechanisms within the same incident (recovery of exploited funds does not negate an exploit that has already occurred). • Exploits of third-party protocols that merely integrate Morpho, bridged or wrapped asset depegs without resulting protocol bad debt, and temporary price volatility or normal liquidations do not qualify.
Market activity includes traded volume and minted collateral.
Quotes are in TYD; Yes and No pools are priced independently. 100% = 1 TYD.
Resolution source: • Onchain data • DefiLlama hacks dashboard
Earliest possible resolution: Nov 1, 2026, 12:00 AM UTC. This is not the event deadline or a trading cutoff.
Resolution history
- CreatedOct 20, 2026, 5:15 AM UTC
Recent activity
- No trade · 46.72 TYD at 89.1%Oct 24, 2026, 5:27 PM UTC
- Yes trade · 6.11 TYD at 11.7%Oct 24, 2026, 5:27 PM UTC
- Market activityOct 24, 2026, 5:27 PM UTC
- No trade · 47.8 TYD at 89.5%Oct 24, 2026, 5:27 PM UTC
- Market activityOct 24, 2026, 7:33 AM UTC
Quotes fetched just now.
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.
- Morpho BlueLending
- Morpho MidnightLending
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
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 Tracked253
Average Supply APY4.87%
User Activity
Active Addresses (24h)2,833
Transactions (24h)59,709
Competitors
Morpho history
TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Aug 19, 2022 to Oct 26, 2026.
All-time high TVL: $11.482b on Oct 6, 2026. All-time low TVL: $25.13m on Sep 15, 2022.
Daily TVL, Sep 27, 2026 to Oct 26, 2026
| Date | TVL |
|---|---|
| Sep 27, 2026 | $11.053b |
| Sep 28, 2026 | $11.056b |
| Sep 29, 2026 | $10.982b |
| Sep 30, 2026 | $11.021b |
| Oct 1, 2026 | $10.984b |
| Oct 2, 2026 | $11.197b |
| Oct 3, 2026 | $11.302b |
| Oct 4, 2026 | $11.326b |
| Oct 5, 2026 | $11.472b |
| Oct 6, 2026 | $11.482b |
| Oct 7, 2026 | $11.466b |
| Oct 8, 2026 | $11.268b |
| Oct 9, 2026 | $11.082b |
| Oct 10, 2026 | $11.219b |
| Oct 11, 2026 | $11.293b |
| Oct 12, 2026 | $11.369b |
| Oct 13, 2026 | $11.123b |
| Oct 14, 2026 | $11.264b |
| Oct 15, 2026 | $11.011b |
| Oct 16, 2026 | $11.096b |
| Oct 17, 2026 | $11.054b |
| Oct 18, 2026 | $11.038b |
| Oct 19, 2026 | $11.101b |
| Oct 20, 2026 | $11.101b |
| Oct 21, 2026 | $11.284b |
| Oct 22, 2026 | $11.371b |
| Oct 23, 2026 | $11.197b |
| Oct 24, 2026 | $11.266b |
| Oct 25, 2026 | $11.319b |
| Oct 26, 2026 | $11.324b |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $2.474b |
| Dec 31, 2024 | $3.252b |
| Jan 31, 2025 | $4.084b |
| Feb 28, 2025 | $3.275b |
| Mar 31, 2025 | $2.89b |
| Apr 30, 2025 | $2.8b |
| May 31, 2025 | $3.71b |
| Jun 30, 2025 | $4.2b |
| Jul 31, 2025 | $5.996b |
| Aug 31, 2025 | $7.403b |
| Sep 30, 2025 | $7.211b |
| Oct 31, 2025 | $8.518b |
| Nov 30, 2025 | $6.181b |
| Dec 31, 2025 | $5.803b |
| Jan 31, 2026 | $6.581b |
| Feb 28, 2026 | $5.703b |
| Mar 31, 2026 | $6.982b |
| Apr 30, 2026 | $7.008b |
| May 31, 2026 | $7.408b |
| Jun 30, 2026 | $6.644b |
| Jul 31, 2026 | $7.795b |
| Aug 31, 2026 | $9.517b |
| Sep 30, 2026 | $11.021b |
| Oct 26, 2026 (latest) | $11.324b |
TVL at each year end, Dec 31, 2022 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2022 | $181.66m |
| Dec 31, 2023 | $598.61m |
| Dec 31, 2024 | $3.252b |
| Dec 31, 2025 | $5.803b |
Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $5.93m | $0 | $0 |
| Dec 2024 | $11.81m | $0 | $0 |
| Jan 2025 | $10.93m | $0 | $0 |
| Feb 2025 | $10.04m | $0 | $0 |
| Mar 2025 | $7.09m | $0 | $0 |
| Apr 2025 | $5.62m | $0 | $0 |
| May 2025 | $6.35m | $0 | $0 |
| Jun 2025 | $8.12m | $0 | $0 |
| Jul 2025 | $12.16m | $0 | $0 |
| Aug 2025 | $19.06m | $0 | $0 |
| Sep 2025 | $22.81m | $0 | $0 |
| Oct 2025 | $24.15m | $0 | $0 |
| Nov 2025 | $22.93m | $0 | $0 |
| Dec 2025 | $12.25m | $0 | $0 |
| Jan 2026 | $15.65m | $0 | $0 |
| Feb 2026 | $17.74m | $0 | $0 |
| Mar 2026 | $11.34m | $0 | $0 |
| Apr 2026 | $14.55m | $0 | $0 |
| May 2026 | $15.28m | $0 | $0 |
| Jun 2026 | $18.77m | $0 | $0 |
| Jul 2026 | $14.89m | $0 | $0 |
| Aug 2026 | $18.43m | $0 | $0 |
| Sep 2026 | $19.59m | $0 | $0 |
| Oct 2026 (to date) | $19.88m | $0 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/morpho
Frequently asked questions
What is Morpho's TVL?
As of Oct 26, 2026, Morpho has $11.339b in total value locked. TVL has increased 2.8% 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 46.1%.
How much has Morpho generated in fees and revenue?
Over the past 30 days, Morpho generated $22.71m in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $204.79m in fees.
What is the MORPHO token price and valuation?
MORPHO is currently trading at $2. Its circulating market capitalization is $1.409b, ranking it #81. Its fully diluted valuation is $2.005b. Supply currently stands at 703m circulating, 1b total supply, 1b maximum supply.
How has MORPHO performed recently?
MORPHO is down 17.9% over the past 7 days and down 26.5% over the past 30 days. Its all-time high is $4.17, reached on Jan 17, 2025. The token is currently 52% 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 $52.003b across 517 protocols, and Morpho accounts for 21.8% of that total. Similar 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?
As of Oct 26, 2026, Morpho has $5.791b in active loans.
Does Morpho have a treasury?
Morpho has a tracked treasury currently valued at $27.41m. Its holdings include $99.94 in stablecoins, $69.53 in major assets, $27.41m in its own tokens, $1,121 in other assets.

