Logo of MorphoMorpho(MORPHO)
Total Value Locked$9.522b

TVL by Chain

Ethereum$4.299b

Base$3.888b

Robinhood Chain$480.52m

Hyperliquid L1$325.05m

Monad$173.95m

Morph$71.73m

Flare$53.56m

Katana$48.39m

Tempo$42.49m

World Chain$29.56m

Pharos$27.81m

Stable$26.45m

Arbitrum$22.68m

Sei$8.53m

Plume Mainnet$6.31m

Citrea$4.79m

Polygon$3.77m

Etherlink$3.66m

OP Mainnet$1.72m

Unichain$1.29m

MegaETH$982,118

Celo$818,600

TAC$573,771

XDC$473,922

Abstract$261,303

Kaia$248,885

Soneium$26,916

Lisk$14,265

Hemi$3,876

Fraxtal$367

BSC$84

Sonic$83

Scroll$37

0G$34

Ink$13

Corn$0

Botanix$0

Zircuit$0

Linea$0

Bitlayer$0

Mode$0

Gnosis$0

Key Metrics

Fees (Annualized)$208.68m
Fees 30d$18.01m

Ethereum$8.39m

Base$7.11m

Robinhood Chain$1.09m

Hyperliquid L1$578,096

Monad$486,007

Stable$116,725.78

Flare$79,037

Katana$50,006

Arbitrum$39,729

Plume Mainnet$26,196

Pharos$20,154.09

OP Mainnet$5,256

Polygon$4,981.35

Unichain$3,288.77

Tempo$2,732.5

Citrea$1,850.84

Abstract$1,023.19

Etherlink$612.98

World Chain$32.03

Celo$23.33

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 7d$4.23m

Ethereum$1.79m

Base$1.69m

Robinhood Chain$321,090

Hyperliquid L1$127,863

Monad$116,614

Stable$116,538

Flare$24,931

Katana$10,990

Arbitrum$10,116

Pharos$8,368

Plume Mainnet$5,938

Tempo$1,448

Polygon$1,359

OP Mainnet$1,288

Unichain$554.05

Citrea$400

Abstract$212.13

World Chain$4.45

Celo$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 24h$576,248.35

Ethereum$252,003

Base$235,766.35

Robinhood Chain$44,290

Hyperliquid L1$20,520

Monad$15,211

Flare$3,433

Arbitrum$1,719

Katana$1,552

Plume Mainnet$726

Polygon$384

Tempo$244

Citrea$218

OP Mainnet$132

Unichain$42.57

Abstract$6.43

World Chain$0.69

Celo$0

Etherlink$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$339.34m

Ethereum$208.16m

Base$101.7m

Hyperliquid L1$15.03m

Arbitrum$4.66m

Katana$2.83m

Monad$1.98m

Robinhood Chain$1.56m

Polygon$1.27m

Unichain$1.05m

Flare$308,554

OP Mainnet$307,138

Stable$188,714.44

Plume Mainnet$90,758

Soneium$90,232.01

Corn$40,518

World Chain$36,163.49

Pharos$22,735.45

Citrea$7,541.2

Abstract$3,664.88

Hemi$3,640

Etherlink$3,119.8

Tempo$3,001.43

Celo$636.32

Fraxtal$1

Ink$0

Mode$0

Morph$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$13.2m

$595,136.61

$112,294.97

$7,253.05

$45.6m

Earnings (30d Run Rate)-$7.26m

-$595,136.61

-$112,294.97

-$7,253.05

-$45.6m

Collateral Liquidated 30d$40.29m
Collateral Liquidated 30d by chain

Ethereum$38.04m

Base$1.52m

Hyperliquid L1$657,312.17

Flare$41,267

Celo$22,905

World Chain$300.16

Plume Mainnet$177.52

Polygon$162.18

Katana$104.5

Arbitrum$44.62

Robinhood Chain$32.91

OP Mainnet$18

Abstract$9.82

Pharos$1.39

Sonic$0.04

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Stable$0

Tempo$0

Zircuit$0

Collateral Liquidated 7d$407,262.89

Base$371,604

Ethereum$14,191.41

Hyperliquid L1$12,575.55

Flare$8,735

Katana$101.09

Plume Mainnet$50.01

World Chain$5.13

Polygon$1.18

Arbitrum$0.19

Abstract$0

Celo$0

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

OP Mainnet$0

Pharos$0

Robinhood Chain$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Zircuit$0

Collateral Liquidated 24h$6,349

Flare$5,620

Base$723

Plume Mainnet$3.88

World Chain$2.03

Abstract$0

Arbitrum$0

Celo$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

Robinhood Chain$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Zircuit$0

Cumulative Collateral Liquidated$85.66m

Ethereum$81.38m

Hyperliquid L1$2.54m

Base$1.64m

Flare$56,080

Celo$22,905

Polygon$5,303.84

Arbitrum$3,006.04

Plume Mainnet$2,307.63

Abstract$1,107.82

Katana$366.75

World Chain$328.39

Robinhood Chain$58.04

OP Mainnet$18

Pharos$1.39

Sonic$0.04

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Stable$0

Tempo$0

Zircuit$0

Market Cap$1.768b

$MORPHO Price$2.57

All Time High$4.17

All Time Low$0.71

View $MORPHO token page

$2.567b

$2.57b

$MORPHO Volume 24h$38.57m

CEX Volume$16.66m

DEX Volume$21.3m(55.23% of total)

Active Loans$4.821b

$MORPHO Liquidity$6.54m

Aerodrome Slipstream$3.24m

Uniswap V3$1.87m

Uniswap V3$1.34m

Aerodrome V1$91,302

Treasury$35.62m

$72.54

Stablecoins$99.96

Own Tokens$35.62m

Others$1,408.81

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

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.

WebsiteGitHubTwitter
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 Tracked244

Average Supply APY4.21%

User Activity

Active Addresses (24h)3,626

Transactions (24h)51,874

Competitors

Aave V3 ($17.009b)Avalon Finance ($1.23m)Euler V2 ($369.61m)Ajna V2 ($64,858.21)PWN ($22,695.78)Gearbox ($21.38m)Compound V3 ($1.385b)LayerBank ($2.7m)Teller ($1.13m)Tarot ($620,083.18)

Frequently Asked Questions

What is Morpho's TVL?

Morpho currently has $9.522b in total value locked. TVL has increased 25.2% 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 45.1%.

How much has Morpho generated in fees and revenue?

Over the past 30 days, Morpho generated $18.01m in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $208.68m in fees.

What is the MORPHO token price and valuation?

MORPHO is currently trading at $2.57. Its circulating market capitalization is $1.768b, ranking it #64. Its fully diluted valuation is $2.567b. Supply currently stands at 688.45m circulating, 1b total supply, 1b maximum supply.

How has MORPHO performed recently?

MORPHO is up 1.3% over the past 7 days and up 34.2% over the past 30 days. Its all-time high is $4.17, reached on Jan 17, 2025. The token is currently 38.4% 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 $48.716b across 514 protocols, and Morpho accounts for 19.5% of that total. Other leading protocols include Aave V3, Avalon Finance, Euler V2, Ajna V2, PWN, Gearbox, Compound V3, LayerBank, Teller, and Tarot.

How much has been borrowed through Morpho?

Morpho currently has $4.821b in active loans.

Does Morpho have a treasury?

Morpho has a tracked treasury currently valued at $35.62m. Its holdings include $99.96 in stablecoins, $72.54 in major assets, $35.62m in its own tokens, $1,408.81 in other assets.