Ask about Morpho
Logo of MorphoMorpho(MORPHO)
Total Value Locked$7.622b

TVL by Chain

Ethereum$3.573b

Base$3.184b

Robinhood Chain$287.37m

Hyperliquid L1$229.1m

Monad$91.41m

Katana$57.21m

Flare$47.32m

Stable$37.16m

World Chain$24.96m

Tempo$21.88m

Arbitrum$21.86m

Sei$16.04m

Plume Mainnet$6.97m

Pharos$6.75m

Citrea$4.07m

Etherlink$3.65m

Polygon$3.24m

OP Mainnet$1.85m

Unichain$1.12m

MegaETH$901,950

Celo$811,315

TAC$526,998

XDC$454,257

Abstract$282,038

Kaia$225,284

Soneium$24,138

Lisk$16,569

Scroll$10,700

Hemi$1,580

Fraxtal$293

BSC$96

Sonic$83

0G$30

Ink$13

Corn$0

Botanix$0

Linea$0

Zircuit$0

Bitlayer$0

Gnosis$0

Mode$0

Key Metrics

Fees (Annualized)$222.72m
Fees 30d$25.07m

Ethereum$15.88m

Base$6.3m

Hyperliquid L1$1.93m

Robinhood Chain$419,313

Monad$279,930

Flare$93,992

Katana$51,979

Arbitrum$46,404

Stable$22,979.34

Plume Mainnet$20,067

OP Mainnet$9,182

Unichain$8,532.13

Polygon$4,846.01

Pharos$2,317.54

Citrea$1,791.45

Morph$1,283

Etherlink$1,224.14

Abstract$604.4

World Chain$174.4

Celo$34.61

Tempo$13.56

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 7d$3.84m

Ethereum$1.66m

Base$1.58m

Hyperliquid L1$291,394

Robinhood Chain$157,134

Monad$93,413

Flare$19,791

Katana$13,731

Arbitrum$11,718

Plume Mainnet$5,229

Pharos$2,041.54

Morph$1,283

OP Mainnet$1,121

Polygon$877.51

Unichain$701.98

Citrea$300.45

Abstract$99.48

Etherlink$61.01

Stable$14.34

Tempo$9.33

Celo$5.61

World Chain$5.11

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 24h$489,388.03

Base$219,449.03

Ethereum$216,214

Robinhood Chain$24,044

Hyperliquid L1$18,041

Monad$3,000

Flare$2,766

Arbitrum$2,149

Katana$1,587

Plume Mainnet$796

Pharos$575

Morph$494

OP Mainnet$145

Polygon$65.24

Etherlink$37

Unichain$22.19

Tempo$1.95

World Chain$0.94

Abstract$0

Celo$0

Citrea$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Zircuit$0

Cumulative Fees$334.34m

Ethereum$211.51m

Base$94.44m

Hyperliquid L1$15.85m

Arbitrum$4.64m

Katana$2.8m

Monad$1.53m

Polygon$1.27m

Unichain$1.05m

Robinhood Chain$419,720

OP Mainnet$301,721

Flare$224,466

Soneium$90,226

Stable$64,374.34

Plume Mainnet$64,317

Corn$40,518

World Chain$36,491.4

Citrea$5,386.45

Hemi$3,644

Abstract$2,596.4

Pharos$2,317.54

Etherlink$1,550.14

Morph$1,283

Celo$681.61

Tempo$14.56

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$15.76m

$311,374.78

$69,228.49

$9,376.66

$45.15m

Earnings (30d Run Rate)-$3.8m

-$311,374.78

-$69,228.49

-$9,376.66

-$45.15m

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

Ethereum$4.37m

Hyperliquid L1$1.88m

Base$115,045.17

Flare$9,176

Polygon$5,142.08

Arbitrum$2,961

Plume Mainnet$2,124.12

Abstract$1,098

Katana$262.19

World Chain$27.27

Robinhood Chain$25.53

Celo$0

Citrea$0

Etherlink$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

Zircuit$0

Collateral Liquidated 7d$2.2m

Ethereum$1.89m

Hyperliquid L1$201,510

Base$99,379.17

Polygon$5,141.08

Flare$3,349

Arbitrum$2,797

Plume Mainnet$142.12

Abstract$122

Katana$106.19

Robinhood Chain$10.53

World Chain$9.16

Celo$0

Citrea$0

Etherlink$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

Zircuit$0

Collateral Liquidated 24h$10,236

Ethereum$10,035

Hyperliquid L1$93

Plume Mainnet$89

World Chain$8.88

Katana$7.64

Robinhood Chain$2.32

Base$0.17

Abstract$0

Arbitrum$0

Celo$0

Citrea$0

Etherlink$0

Flare$0

Fraxtal$0

Hemi$0

Ink$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$115,045.17

Flare$9,176

Polygon$5,142.08

Arbitrum$2,961

Plume Mainnet$2,124.12

Abstract$1,098

Katana$262.19

World Chain$27.27

Robinhood Chain$25.53

Celo$0

Citrea$0

Etherlink$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

Zircuit$0

Market Cap$1.272b

$MORPHO Price$1.94

All Time High$4.17

All Time Low$0.71

View $MORPHO token page

$1.939b

$1.94b

$MORPHO Volume 24h$10.48m

CEX Volume$7.48m

DEX Volume$5.48m(52.27% of total)

Active Loans$4.158b

$MORPHO Liquidity$6.54m

Aerodrome Slipstream$3.24m

Uniswap V3$1.87m

Uniswap V3$1.34m

Aerodrome V1$91,302

Treasury$26.32m

$56.51

Stablecoins$99.9

Own Tokens$26.32m

Others$1,687.6

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 Tracked231

Average Supply APY3.95%

Competitors

Morpho Blue ($7.581b)Aave V3 ($13.751b)Avalon Finance ($1.33m)Euler V2 ($326.33m)PWN ($23,853.77)SparkLend ($3.764b)Maple ($2.264b)Compound V3 ($1.13b)Venus Core Pool ($1.036b)Fluid Lending ($662.61m)

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 $7.622b in total value locked. TVL has increased 10.7% 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 46.9%.

How much has Morpho generated in fees and revenue?

Over the past 30 days, Morpho generated $25.07m in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $222.72m in fees.

What is the MORPHO token price and valuation?

MORPHO is currently trading at $1.94. Its circulating market capitalization is $1.272b, ranking it #72. Its fully diluted valuation is $1.939b. Supply currently stands at 655.69m circulating, 1b total supply, 1b maximum supply.

How has MORPHO performed recently?

MORPHO is down 1.5% over the past 7 days and down 0.4% over the past 30 days. Its all-time high is $4.17, reached on Jan 17, 2025. The token is currently 53.5% 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 $40.2b across 466 protocols, and Morpho accounts for 18.9% of that total. Other leading protocols include Aave, Spark, and JustLend.

How much has been borrowed through Morpho?

Morpho currently has $4.158b in active loans.

Does Morpho have a treasury?

Morpho has a tracked treasury currently valued at $26.32m. Its holdings include $99.9 in stablecoins, $56.51 in major assets, $26.32m in its own tokens, $1,687.6 in other assets.