⌘KAsk LlamaAI for free

Ask about Morpho · free

Morpho(MORPHO)

Total Value Locked$11.252b

TVL by Chain

Ethereum$5.143b

Base$4.41b

Robinhood Chain$615.19m

Arc$298.6m

Monad$173.35m

Hyperliquid L1$128.11m

Arbitrum$115.97m

Morph$67.15m

Pharos$66.25m

Tempo$65.87m

Flare$43.94m

World Chain$38.8m

Katana$27.72m

Stable$26.87m

Citrea$8.65m

OP Mainnet$4.61m

Etherlink$4.36m

Sei$3.88m

Polygon$3.1m

Plume Mainnet$2.18m

Unichain$1.07m

MegaETH$927,989

XDC$561,613

Celo$543,915

TAC$339,500

Kaia$292,978

Abstract$34,280

Soneium$26,430

Scroll$7,379

Lisk$3,789

Hemi$1,600

Avalanche$542

Fraxtal$361

Sonic$103

RISE$94

BSC$82

0G$37

Ink$13

Mode$0

Corn$0

Zircuit$0

Bitlayer$0

Gnosis$0

Botanix$0

Linea$0

Key Metrics

Fees 30d$22.61m

Fees 30d by chain

Ethereum$9.93m

Base$9.2m

Robinhood Chain$1.78m

Monad$624,163

Hyperliquid L1$372,268

Arc$267,997

Stable$135,141

Flare$97,064

Arbitrum$69,512

Pharos$48,401

Katana$45,583

Plume Mainnet$14,075

Polygon$7,809

OP Mainnet$5,287

Unichain$4,098

Abstract$3,749

Citrea$2,110

Tempo$668.98

World Chain$82.94

Celo$47.70

Morph$0.38

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 7d$5.38m

Ethereum$2.29m

Base$2.17m

Robinhood Chain$409,322

Hyperliquid L1$178,551

Monad$137,253

Arc$89,551

Arbitrum$35,595

Flare$22,820

Stable$17,302

Pharos$11,656

Katana$6,991

Plume Mainnet$2,183

Polygon$1,502

OP Mainnet$1,315

Unichain$798.24

Tempo$109.67

Celo$6.09

Abstract$0.36

World Chain$0.23

Citrea$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 24h$741,460

Ethereum$317,055

Base$305,348

Robinhood Chain$59,002

Monad$22,024

Arc$16,933

Arbitrum$9,545

Hyperliquid L1$6,037

Flare$2,841

Pharos$1,172

Katana$599

Plume Mainnet$555

OP Mainnet$170

Polygon$149

Tempo$15.61

Unichain$7.24

Celo$6.09

Abstract$0.04

World Chain$0.02

Citrea$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Zircuit$0

Cumulative Fees$376.15m

Ethereum$224.44m

Base$116.54m

Hyperliquid L1$15.72m

Arbitrum$4.77m

Robinhood Chain$4.48m

Monad$3.01m

Katana$2.93m

Polygon$1.28m

Unichain$1.06m

Flare$498,074

Stable$386,420

OP Mainnet$316,461

Arc$285,330

Plume Mainnet$124,639

Pharos$97,155

Soneium$90,232

Corn$40,518

World Chain$36,266

Tempo$13,343

Abstract$12,428

Citrea$11,161

Hemi$3,640

Etherlink$3,354

Celo$710.81

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$10.04m

Incentives 30d$547,520

Incentives 7d$107,692

Incentives 24h$6,940

Cumulative Incentives$46.54m

Earnings (30d Run Rate)-$6.68m

Earnings 30d-$547,520

Earnings 7d-$107,692

Earnings 24h-$6,940

Cumulative Earnings-$46.54m

Collateral Liquidated 30d$5.22m

Collateral Liquidated 30d by chain

Base$2.99m

Hyperliquid L1$1.27m

Robinhood Chain$545,868

Ethereum$257,627

Abstract$69,502

Flare$63,639

World Chain$16,433

Polygon$7,994

Plume Mainnet$1,057

Arbitrum$849.10

Arc$496

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$1.68m

Hyperliquid L1$1.21m

Base$455,052

Ethereum$7,078

Robinhood Chain$5,247

World Chain$3,469

Flare$912.76

Arbitrum$259.36

Katana$113

Plume Mainnet$28.61

Monad$4.29

Unichain$0.94

OP Mainnet$0.01

Abstract$0

Arc$0

Celo$0

Citrea$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Pharos$0

Polygon$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Zircuit$0

Collateral Liquidated 24h$3,317

World Chain$1,179

Robinhood Chain$799

Base$765

Ethereum$573

Arbitrum$0.36

Plume Mainnet$0.14

Abstract$0

Arc$0

Celo$0

Citrea$0

Fraxtal$0

Hemi$0

Hyperliquid L1$0

Ink$0

Katana$0

Mode$0

Monad$0

Morph$0

OP Mainnet$0

Pharos$0

Polygon$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

Zircuit$0

Cumulative Collateral Liquidated$91.58m

Ethereum$81.83m

Base$4.94m

Hyperliquid L1$3.83m

Robinhood Chain$698,665

Flare$132,535

Abstract$76,746

Celo$22,905

World Chain$18,089

Polygon$13,298

Plume Mainnet$4,044

Arbitrum$3,908

Katana$771.42

Arc$496

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$1.523b

$MORPHO Price$2.17

All Time High$4.17

All Time Low$0.71

View $MORPHO token page

Fully Diluted Valuation$2.166b

Outstanding FDV$2.17b

$MORPHO Volume 24h$17.03m

CEX Volume$8.77m

DEX Volume$7.84m(46.03% of total)

Active Loans$5.775b

Treasury$30.14m

Majors$71.30

Stablecoins$99.91

Own Tokens$30.14m

Others$1,220

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

TradingCrypto Hacks · DefiLlama

Markets by Trueo All markets

Morpho bad debt or exploit in October 2026?

Activity: 12.3K TYD
Liquidity: 15.7K TYD

Trade Yes 11.8%Trade No 89%

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

Market activityOct 24, 2026, 7:33 AM UTC
Market activityOct 24, 2026, 7:33 AM UTC
Market activityOct 24, 2026, 7:33 AM UTC
Market activityOct 24, 2026, 7:33 AM UTC
Market activityOct 24, 2026, 7:32 AM UTC

Incidents on record1last Oct 14, 2024

DeFi exploits of $1m+ this year74

Since this market opened0

Jan 5, 2026Shaded: this market's window · log scaleNov 1, 2026

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.

Website GitHub X/Twitter

Category:Lending

Products:

Morpho BlueLending
Morpho MidnightLending

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.Morpho 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.

Revenue:

Morpho Blue - No revenue for Morpho protocol.Morpho 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.

Holders 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 APY4.67%

User Activity

Active Addresses (24h)3,016

Transactions (24h)61,956

Competitors

Aave V3 ($16.686b)Avalon Finance ($1.26m)Euler V2 ($281.46m)Ajna V2 ($44,720)PWN ($21,675)Gearbox ($23.11m)LayerBank ($3.91m)Tarot ($565,221)Impermax V2 ($534,172)Compound V3 ($1.379b)

Income statement for Morpho

YearlyQuarterlyMonthlyCumulative

	Q4 2026*	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024
Gross Protocol Revenue	$18.36M	$52.9M	$48.6M	$44.72M	$59.33M	$54.02M	$20.09M	$28.06M	$20.38M	$11.34M	$17.3M	$1.04M
Borrow Interest	$17.55M	$51.31M	$42.11M	$33.84M	$49.93M	$52.97M	$19.35M	$26.74M	$20.16M	$9.64M	$16.21M	$911.66K
Liquidation Fees	$803.97K	$1.59M	$6.49M	$10.88M	$9.4M	$1.05M	$738.75K	$1.32M	$216.94K	$1.7M	$1.08M	$127.4K
Cost of Revenue	$18.36M	$52.9M	$48.6M	$44.72M	$59.33M	$54.02M	$20.09M	$28.06M	$20.38M	$11.34M	$17.3M	$1.04M
Borrow Interest	$17.55M	$51.31M	$42.11M	$33.84M	$49.93M	$52.97M	$19.35M	$26.74M	$20.16M	$9.64M	$16.21M	$911.66K
Liquidation Fees	$803.97K	$1.59M	$6.49M	$10.88M	$9.4M	$1.05M	$738.75K	$1.32M	$216.94K	$1.7M	$1.08M	$127.4K
Gross Profit	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Incentives	$426.94K	$1.46M	$956.65K	$3.8M	$5.15M	$7.12M	$3.06M	$12.94M	$11.62M	$0	$0	$0
URD Claims	$0	$22.2K	$88.71K	$1.03M	$643.57K	$2.88M	$3.01M	$12.94M	$11.62M	$0	$0	$0
Merkl Campaigns	$426.94K	$1.44M	$867.95K	$2.77M	$4.51M	$4.24M	$44.12K	$0	$0	$0	$0	$0
Earnings	-$426.94K	-$1.46M	-$956.65K	-$3.8M	-$5.15M	-$7.12M	-$3.06M	-$12.94M	-$11.62M	$0	$0	$0
Token Holder Net Income	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

Income flow visualization

YearlyQuarterlyMonthlyCumulative

Morpho history

TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Aug 19, 2022 to Oct 24, 2026.

All-time high TVL: $11.482b on Oct 6, 2026. All-time low TVL: $25.13m on Sep 15, 2022.

Daily TVL, Sep 25, 2026 to Oct 24, 2026

Date	TVL
Sep 25, 2026	$10.877b
Sep 26, 2026	$11.03b
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

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 24, 2026 (latest)	$11.266b

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)	$18.36m	$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 24, 2026, Morpho has $11.252b in total value locked. TVL has increased 3.6% 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 45.7%.

How much has Morpho generated in fees and revenue?

Over the past 30 days, Morpho generated $22.61m in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $204.59m in fees.

What is the MORPHO token price and valuation?

MORPHO is currently trading at $2.16. Its circulating market capitalization is $1.522b, ranking it #78. Its fully diluted valuation is $2.165b. Supply currently stands at 702.91m circulating, 1b total supply, 1b maximum supply.

How has MORPHO performed recently?

MORPHO is down 8.4% over the past 7 days and down 20% over the past 30 days. Its all-time high is $4.17, reached on Jan 17, 2025. The token is currently 48.2% 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 $52.242b across 517 protocols, and Morpho accounts for 21.5% 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 24, 2026, Morpho has $5.775b in active loans.

Does Morpho have a treasury?

Morpho has a tracked treasury currently valued at $30.14m. Its holdings include $99.91 in stablecoins, $71.30 in major assets, $30.14m in its own tokens, $1,220 in other assets.