Ask about Morpho
Logo of MorphoMorpho(MORPHO)
Total Value Locked$10.311b

TVL by Chain

Ethereum$4.795b

Base$3.963b

Robinhood Chain$534.65m

Hyperliquid L1$254.73m

Arc$228.3m

Monad$178.63m

Morph$70.97m

Tempo$45.27m

Flare$44.25m

Katana$37.37m

Pharos$36.43m

Stable$33.71m

World Chain$30.66m

Arbitrum$20.74m

Citrea$8.26m

Sei$8.12m

Plume Mainnet$5.29m

Polygon$3.88m

OP Mainnet$3.64m

Etherlink$3.64m

Unichain$1.38m

MegaETH$985,421

Celo$829,322

TAC$478,181

XDC$474,470

Kaia$254,138

Abstract$230,103

Soneium$30,283

Lisk$9,225

Hemi$1,968

Avalanche$464

Fraxtal$374

RISE$92

Sonic$83

BSC$83

Scroll$37

0G$36

Ink$13

Corn$0

Botanix$0

Bitlayer$0

Zircuit$0

Gnosis$0

Linea$0

Mode$0

Key Metrics

Fees 30d$15.99m
Fees 30d by chain

Ethereum$7.6m

Base$6.02m

Robinhood Chain$1.11m

Hyperliquid L1$473,186

Monad$420,129

Stable$116,676

Flare$91,907

Katana$47,156

Arbitrum$34,733

Plume Mainnet$21,694

Pharos$21,175

Tempo$6,236.48

Abstract$5,244.97

Unichain$5,042.58

OP Mainnet$4,211

Polygon$3,947.07

Citrea$1,190.84

Etherlink$220.95

World Chain$29.99

Celo$18.76

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 7d$1.22m

Ethereum$554,632

Base$478,646.38

Robinhood Chain$101,669

Monad$36,446

Hyperliquid L1$29,208

Flare$7,910

Katana$3,652

Arbitrum$3,377

Plume Mainnet$2,293

Abstract$1,442

Tempo$993

Unichain$674

Pharos$347

OP Mainnet$295

Polygon$169.69

Celo$18.76

Etherlink$9.95

World Chain$0.9

Citrea$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Zircuit$0

Fees 24h$23.02

Base$23.02

Cumulative Fees$344.91m

Ethereum$210.66m

Base$103.89m

Hyperliquid L1$15.18m

Arbitrum$4.67m

Katana$2.85m

Monad$2.14m

Robinhood Chain$2m

Polygon$1.27m

Unichain$1.06m

Flare$352,373

OP Mainnet$308,530

Stable$188,714.44

Plume Mainnet$99,738

Soneium$90,232.01

Corn$40,518

World Chain$36,174

Pharos$32,371.45

Abstract$8,085.26

Citrea$7,720.2

Tempo$6,601.43

Hemi$3,640

Etherlink$3,340.75

Celo$655.08

Fraxtal$1

Ink$0

Mode$0

Morph$0

Scroll$0

Sonic$0

Zircuit$0

Revenue 30d$0
Revenue 30d by chain

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

Base$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$0
Holders Revenue 30d by chain

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

Base$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$12.13m

$642,697.01

$97,158.93

$9,391.43

$45.84m

Earnings (30d Run Rate)-$7.84m

-$642,697.01

-$97,158.93

-$9,391.43

-$45.84m

Collateral Liquidated 30d$39.98m
Collateral Liquidated 30d by chain

Ethereum$37.64m

Base$1.5m

Hyperliquid L1$681,648.63

Robinhood Chain$124,531.23

Flare$29,066.09

Abstract$5,841

Plume Mainnet$781.94

World Chain$327.92

Katana$266.49

Polygon$72.18

Arbitrum$72.12

Sonic$0.04

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

Stable$0

Tempo$0

Zircuit$0

Collateral Liquidated 7d$97,102.19

Robinhood Chain$50,412

Hyperliquid L1$26,382

Base$12,074

Abstract$5,841

Ethereum$1,385.19

Flare$1,003.09

Plume Mainnet$4.52

World Chain$0.26

Arbitrum$0

Celo$0

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Katana$0

Mode$0

Morph$0

OP Mainnet$0

Pharos$0

Polygon$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Zircuit$0

Collateral Liquidated 24h$30

Ethereum$30

Cumulative Collateral Liquidated$86.15m

Ethereum$81.4m

Hyperliquid L1$2.57m

Base$1.94m

Robinhood Chain$124,565.04

Flare$68,674.09

Celo$22,905

Abstract$6,948.82

Polygon$5,303.84

Arbitrum$3,059.04

Plume Mainnet$2,976.58

Katana$528.76

World Chain$451.97

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$1.521b

$MORPHO Price$2.18

All Time High$4.17

All Time Low$0.71

View $MORPHO token page

$2.177b

$2.18b

$MORPHO Volume 24h$28.75m

CEX Volume$19.1m

DEX Volume$10.77m(37.44% of total)

Active Loans$5.093b

Treasury$29.25m

$73.93

Stablecoins$99.92

Own Tokens$29.24m

Others$1,805.02

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.

WebsiteGitHubX/Twitter
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 Tracked247

Average Supply APY4.35%

User Activity

Active Addresses (24h)3,705

Transactions (24h)50,124

Competitors

Aave V3 ($17.009b)Avalon Finance ($1.25m)Euler V2 ($353.13m)Ajna V2 ($60,749.93)PWN ($22,095.36)Gearbox ($22.12m)Tarot ($629,483.77)Impermax V2 ($590,710.04)Compound V3 ($1.39b)Folks Finance xChain ($5.18m)

Frequently Asked Questions

What is Morpho's TVL?

Morpho currently has $10.311b in total value locked. TVL has increased 26.8% over the past 30 days.

What chains does Morpho operate on?

Morpho operates on 45 chains: Ethereum, Base, Robinhood Chain, Hyperliquid L1, and Arc and 40 others. Ethereum holds the largest share at 46.5%.

How much has Morpho generated in fees and revenue?

Over the past 30 days, Morpho generated $15.99m in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $203.1m in fees.

What is the MORPHO token price and valuation?

MORPHO is currently trading at $2.18. Its circulating market capitalization is $1.521b, ranking it #72. Its fully diluted valuation is $2.177b. Supply currently stands at 698.76m circulating, 1b total supply, 1b maximum supply.

How has MORPHO performed recently?

MORPHO is down 3.4% over the past 7 days and down 1.6% over the past 30 days. Its all-time high is $4.17, reached on Jan 17, 2025. The token is currently 47.7% 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 $51.086b across 516 protocols, and Morpho accounts for 20.1% of that total. Other leading protocols include Aave V3, Avalon Finance, Euler V2, Ajna V2, PWN, Gearbox, Tarot, Impermax V2, Compound V3, and Folks Finance xChain.

How much has been borrowed through Morpho?

Morpho currently has $5.093b in active loans.

Does Morpho have a treasury?

Morpho has a tracked treasury currently valued at $29.25m. Its holdings include $99.92 in stablecoins, $73.93 in major assets, $29.24m in its own tokens, $1,805.02 in other assets.