Ask about Morpho
Logo of MorphoMorpho(MORPHO)
Total Value Locked$10.019b

TVL by Chain

Ethereum$4.64b

Base$4.034b

Robinhood Chain$528.04m

Hyperliquid L1$264.67m

Monad$181.02m

Morph$72.54m

Flare$50.14m

Tempo$45.29m

Katana$43.21m

Pharos$36.66m

Stable$32.44m

World Chain$31.52m

Arbitrum$21.34m

Citrea$8.45m

Sei$8.12m

Plume Mainnet$5.38m

OP Mainnet$4.03m

Polygon$3.98m

Etherlink$3.64m

Unichain$1.42m

MegaETH$973,734

Celo$840,873

TAC$493,437

XDC$488,724

Kaia$257,512

Abstract$243,637

Soneium$29,597

Lisk$15,234

Scroll$7,379

Hemi$1,969

Avalanche$467

Fraxtal$391

RISE$94

BSC$84

Sonic$83

0G$35

Ink$13

Corn$0

Botanix$0

Bitlayer$0

Zircuit$0

Linea$0

Mode$0

Gnosis$0

Key Metrics

Fees 30d$17.65m
Fees 30d by chain

Ethereum$8.36m

Base$6.7m

Robinhood Chain$1.22m

Hyperliquid L1$529,913

Monad$466,679

Stable$116,689

Flare$98,055

Katana$53,699

Arbitrum$38,742

Plume Mainnet$25,240

Pharos$23,050

Tempo$6,457.39

Unichain$5,357.14

Abstract$5,320.42

OP Mainnet$4,788

Polygon$4,530.91

Citrea$1,420.84

Etherlink$299.93

World Chain$32.37

Celo$18.77

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 7d$3.1m

Ethereum$1.43m

Base$1.19m

Robinhood Chain$256,333

Monad$92,590

Hyperliquid L1$71,422

Flare$24,026

Katana$10,433

Arbitrum$7,889

Pharos$6,532

Plume Mainnet$4,776

Abstract$4,397.75

Tempo$2,266

Unichain$1,842

OP Mainnet$787

Polygon$417.82

Etherlink$220.95

Citrea$185

Celo$18.76

World Chain$7.99

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Zircuit$0

Fees 24h$0

Base$0

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$12.32m

$643,233

$106,486.23

$13,885.56

$45.8m

Earnings (30d Run Rate)-$7.85m

-$643,233

-$106,486.23

-$13,885.56

-$45.8m

Collateral Liquidated 30d$40.09m
Collateral Liquidated 30d by chain

Ethereum$37.74m

Base$1.51m

Hyperliquid L1$690,026.63

Robinhood Chain$124,531.23

Flare$29,066.09

Abstract$5,841

Plume Mainnet$792.8

World Chain$336.3

Katana$266.49

Arbitrum$72.62

Polygon$72.18

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$181,229.13

Robinhood Chain$109,877

Hyperliquid L1$27,163.42

Ethereum$14,764.13

Base$12,077.11

Flare$11,342.09

Abstract$5,841

World Chain$117.34

Arbitrum$41

Plume Mainnet$6.38

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$0.19

Ethereum$0.19

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$1.509b

$MORPHO Price$2.19

All Time High$4.17

All Time Low$0.71

View $MORPHO token page

$2.19b

$2.19b

$MORPHO Volume 24h$18.69m

CEX Volume$11.19m

DEX Volume$7.4m(39.58% of total)

Active Loans$5.044b

Treasury$29.74m

$76.53

Stablecoins$99.99

Own Tokens$29.73m

Others$2,125.4

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 Tracked243

Average Supply APY4.22%

User Activity

Active Addresses (24h)2,972

Transactions (24h)40,167

Competitors

Aave V3 ($17.779b)Avalon Finance ($1.2m)Euler V2 ($352.99m)Ajna V2 ($61,803.26)PWN ($22,412.53)Gearbox ($22.92m)Tarot ($661,071.07)Impermax V2 ($589,405.85)Compound V3 ($1.476b)Folks Finance xChain ($5.29m)

Frequently Asked Questions

What is Morpho's TVL?

Morpho currently has $10.019b in total value locked. TVL has increased 25.3% over the past 30 days.

What chains does Morpho operate on?

Morpho operates on 44 chains: Ethereum, Base, Robinhood Chain, Hyperliquid L1, and Monad and 39 others. Ethereum holds the largest share at 46.3%.

How much has Morpho generated in fees and revenue?

Over the past 30 days, Morpho generated $17.65m in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $205.61m in fees.

What is the MORPHO token price and valuation?

MORPHO is currently trading at $2.19. Its circulating market capitalization is $1.509b, ranking it #73. Its fully diluted valuation is $2.19b. Supply currently stands at 689.11m circulating, 1b total supply, 1b maximum supply.

How has MORPHO performed recently?

MORPHO is down 10.9% over the past 7 days and up 12.5% over the past 30 days. Its all-time high is $4.17, reached on Jan 17, 2025. The token is currently 47.5% 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 $51.78b across 522 protocols, and Morpho accounts for 19.4% 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 $5.044b in active loans.

Does Morpho have a treasury?

Morpho has a tracked treasury currently valued at $29.74m. Its holdings include $99.99 in stablecoins, $76.53 in major assets, $29.73m in its own tokens, $2,125.4 in other assets.