Ask about Morpho
Logo of MorphoMorpho(MORPHO)
Total Value Locked$7.58b

TVL by Chain

Ethereum$3.552b

Base$3.162b

Robinhood Chain$288.58m

Hyperliquid L1$229.37m

Monad$90.61m

Katana$57.94m

Flare$45.89m

Stable$36.93m

World Chain$24.08m

Arbitrum$21.66m

Tempo$21.35m

Sei$18.53m

Plume Mainnet$6.91m

Pharos$6.77m

Citrea$4.06m

Etherlink$3.64m

Polygon$3.24m

OP Mainnet$1.81m

Unichain$1.11m

MegaETH$897,100

Celo$877,088

TAC$527,415

XDC$450,948

Abstract$281,998

Kaia$232,497

Soneium$24,109

Lisk$16,537

Scroll$10,599

Hemi$1,589

Fraxtal$291

BSC$96

Sonic$83

0G$31

Ink$13

Corn$0

Botanix$0

Bitlayer$0

Mode$0

Linea$0

Zircuit$0

Gnosis$0

Key Metrics

Fees (Annualized)$222.76m
Fees 30d$25.02m

Ethereum$15.85m

Base$6.28m

Hyperliquid L1$1.94m

Robinhood Chain$395,676

Monad$284,213

Flare$94,056

Katana$52,104

Arbitrum$46,070

Stable$22,979.34

Plume Mainnet$19,856

OP Mainnet$9,609

Unichain$8,839.94

Polygon$4,911.77

Citrea$1,791.45

Pharos$1,742.54

Etherlink$1,187.14

Morph$789

Abstract$604.4

World Chain$174.46

Celo$34.61

Tempo$11.61

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 7d$3.9m

Ethereum$1.66m

Base$1.59m

Hyperliquid L1$339,286

Robinhood Chain$159,485

Monad$105,819

Flare$19,815

Katana$14,297

Arbitrum$10,578

Plume Mainnet$5,124

Polygon$1,472.27

Pharos$1,466.54

OP Mainnet$1,149

Morph$789

Unichain$705.94

Citrea$300.45

Abstract$122.51

Stable$118.34

Etherlink$44.01

Tempo$8.03

Celo$5.61

World Chain$4.84

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 24h$496,715

Ethereum$220,514

Base$220,365

Robinhood Chain$22,854

Hyperliquid L1$20,544

Monad$3,981

Flare$2,787

Katana$2,154

Arbitrum$1,337

Morph$600

Plume Mainnet$574

Pharos$537

Unichain$248

OP Mainnet$154

Polygon$48.53

Abstract$14

Tempo$1.39

World Chain$0.61

Celo$0.1

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Zircuit$0

Cumulative Fees$334.35m

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$418,318

OP Mainnet$301,730

Flare$224,143

Soneium$90,226

Stable$64,374.34

Plume Mainnet$64,280

Corn$40,518

World Chain$36,491.08

Citrea$5,386.45

Hemi$3,644

Abstract$2,610.4

Pharos$2,279.54

Etherlink$1,513.14

Morph$1,286

Celo$681.71

Tempo$14

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$15.75m

$301,998.12

$59,851.82

$45.14m

Earnings (30d Run Rate)-$3.68m

-$301,998.12

-$59,851.82

-$45.14m

Collateral Liquidated 30d$6.38m
Collateral Liquidated 30d by chain

Ethereum$4.36m

Hyperliquid L1$1.88m

Base$115,045

Flare$9,176

Polygon$5,142.08

Arbitrum$2,961

Plume Mainnet$2,035.12

Abstract$1,098

Katana$254.55

Robinhood Chain$23.21

World Chain$18.39

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$2.21m

Ethereum$1.9m

Hyperliquid L1$201,437

Base$100,392

Polygon$5,141.08

Flare$3,349

Arbitrum$2,797

Abstract$122

Katana$98.55

Plume Mainnet$71.12

Robinhood Chain$8.21

World Chain$1.39

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$11,023

Base$8,792

Polygon$1,686

Hyperliquid L1$299

Ethereum$235

Robinhood Chain$7.45

Plume Mainnet$3.06

Katana$0.65

World Chain$0.28

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

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Zircuit$0

Cumulative Collateral Liquidated$45.35m

Ethereum$43.33m

Hyperliquid L1$1.88m

Base$115,045

Flare$9,176

Polygon$5,142.08

Arbitrum$2,961

Plume Mainnet$2,035.12

Abstract$1,098

Katana$254.55

Robinhood Chain$23.21

World Chain$18.39

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$1.285b

$MORPHO Price$1.96

All Time High$4.17

All Time Low$0.71

View $MORPHO token page

$1.959b

$1.96b

$MORPHO Volume 24h$10.47m

CEX Volume$7.18m

DEX Volume$5.04m(48.09% of total)

Active Loans$4.147b

$MORPHO Liquidity$6.54m

Aerodrome Slipstream$3.24m

Uniswap V3$1.87m

Uniswap V3$1.34m

Aerodrome V1$91,302

Treasury$26.64m

$56.21

Stablecoins$99.89

Own Tokens$26.64m

Others$1,792.15

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 APY4.09%

Competitors

Morpho Blue ($7.538b)Aave V3 ($13.893b)Avalon Finance ($1.33m)Euler V2 ($319.7m)PWN ($23,536.11)SparkLend ($3.69b)Maple ($2.262b)Compound V3 ($1.124b)Venus Core Pool ($1.033b)Fluid Lending ($657.68m)

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 $7.58b in total value locked. TVL has increased 10.1% 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 $25.02m in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $222.76m in fees.

What is the MORPHO token price and valuation?

MORPHO is currently trading at $1.96. Its circulating market capitalization is $1.285b, ranking it #72. Its fully diluted valuation is $1.959b. Supply currently stands at 655.64m circulating, 1b total supply, 1b maximum supply.

How has MORPHO performed recently?

MORPHO is down 0.8% over the past 7 days and down 4.2% over the past 30 days. Its all-time high is $4.17, reached on Jan 17, 2025. The token is currently 53% 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 $40.217b across 466 protocols, and Morpho accounts for 18.7% of that total. Other leading protocols include Aave, Spark, and JustLend.

How much has been borrowed through Morpho?

Morpho currently has $4.147b in active loans.

Does Morpho have a treasury?

Morpho has a tracked treasury currently valued at $26.64m. Its holdings include $99.89 in stablecoins, $56.21 in major assets, $26.64m in its own tokens, $1,792.15 in other assets.