$MORPHO Token Rights

Updated May 07, 2026

Overview

Token(s): MORPHO
Token Type: Governance
Utility: N/A

MORPHO is the governance token of Morpho, empowering holders to vote on protocol changes such as risk parameters, fee structures, ecosystem grants, and treasury management

Governance Rights

Control

Anyone who holds or has delegated to holders 500k MORPHO tokens can submit a proposal for voting. This threshold is adjustable by governance. The core smart contract code is immutable.

Governance Decisions

MORPHO

Governance powers include ownership of upgradeable MORPHO token contract

Treasury Decisions

MORPHO

Governance has control over MORPHO tokens in governance treasury

Revenue Decisions

MORPHO

Governance can activate and adjust the fee switch

Fee Switch

OFF

Morpho DAO can activate fee switch with governance vote

Resources

Foundation Multisigs / Addresses

https://docs.morpho.org/get-started/resources/addresses/

Morpho Effect April 2026 Blog Postmorpho.org

Equity Statement

Morpho Association is legally prohibited from having shareholders, distributing profits to members, or being sold. All resources must be directed towards stated mission. Morpho will only have one asset: MORPHO

Economic Rights

Value Capture

Morpho can charge a fee on interest paid by borrowers, decided by DAO

Buybacks

N/A

Dividends

N/A

No dividend or revenue distribution is currently active

Burns

N/A

No burn mechanism is currently active

Ownership

Raise History

3 rounds · $68m total

Date	Amount	Round	Valuation
Aug 01, 2024	$50m	Strategic	—
Feb 28, 2024	—	Private	—
Jul 13, 2022	$18m	Strategic	—

Equity Revenue Capture: No
Associated Entities: DAOOther
Domain: Morpho Association