Ask about Morpho
Logo of MorphoMorpho(MORPHO)
Total Value Locked$9.881b

TVL by Chain

Ethereum$4.626b

Base$3.939b

Robinhood Chain$530.63m

Hyperliquid L1$243.02m

Monad$180.75m

Morph$70.41m

Flare$47.56m

Tempo$44.74m

Katana$40.62m

Pharos$36.52m

Stable$32.49m

World Chain$30.34m

Arbitrum$20.6m

Citrea$8.24m

Sei$8.12m

Plume Mainnet$5.4m

OP Mainnet$3.93m

Polygon$3.9m

Etherlink$3.64m

Unichain$1.37m

MegaETH$984,050

Celo$855,298

XDC$488,887

TAC$478,965

Kaia$250,603

Abstract$236,231

Soneium$32,434

Lisk$15,413

Scroll$7,388

Hemi$2,004

Avalanche$454

Fraxtal$368

RISE$91

BSC$84

Sonic$83

0G$34

Ink$13

Corn$0

Botanix$0

Bitlayer$0

Linea$0

Zircuit$0

Gnosis$0

Mode$0

Key Metrics

Fees 30d$17.07m
Fees 30d by chain

Ethereum$8.07m

Base$6.47m

Robinhood Chain$1.18m

Hyperliquid L1$512,078

Monad$451,397

Stable$116,689

Flare$95,805

Katana$51,342

Arbitrum$37,459

Plume Mainnet$24,287

Pharos$22,395

Tempo$6,394.78

Unichain$5,339.58

Abstract$5,314.24

OP Mainnet$4,602

Polygon$4,478.34

Citrea$1,420.84

Etherlink$299.93

World Chain$31.53

Celo$18.77

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 7d$2.45m

Ethereum$1.12m

Base$950,315.93

Robinhood Chain$204,158

Monad$75,677

Hyperliquid L1$57,445

Flare$20,343

Katana$8,263

Arbitrum$6,676

Plume Mainnet$3,957

Pharos$2,746

Tempo$1,871

Unichain$1,577

Abstract$1,463.75

OP Mainnet$628

Polygon$311.82

Etherlink$220.95

Citrea$185

Celo$18.76

World Chain$2.51

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Zircuit$0

Fees 24h$2.13

Base$2.13

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$12.26m

$642,176.13

$101,458.13

$10,902.04

$45.81m

Earnings (30d Run Rate)-$7.83m

-$642,176.13

-$101,458.13

-$10,902.04

-$45.81m

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

Ethereum$37.74m

Base$1.5m

Hyperliquid L1$689,998.63

Robinhood Chain$124,531.23

Flare$29,066.09

Abstract$5,841

Plume Mainnet$792.79

World Chain$331.86

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$160,893.19

Robinhood Chain$90,749

Hyperliquid L1$26,382.42

Ethereum$14,476.19

Base$12,074

Flare$11,313.09

Abstract$5,841

Arbitrum$41

World Chain$10.34

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$915

Ethereum$915

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$1.479b

$MORPHO Price$2.15

All Time High$4.17

All Time Low$0.71

View $MORPHO token page

$2.147b

$2.15b

$MORPHO Volume 24h$19.58m

CEX Volume$11.51m

DEX Volume$7.93m(40.48% of total)

Active Loans$5.052b

Treasury$28.79m

$72.53

Stablecoins$99.95

Own Tokens$28.79m

Others$1,991.81

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 Tracked245

Average Supply APY4.31%

User Activity

Active Addresses (24h)3,501

Transactions (24h)48,879

Competitors

Aave V3 ($16.893b)Avalon Finance ($1.3m)Euler V2 ($329.75m)Ajna V2 ($60,997.15)PWN ($21,932.98)Gearbox ($21.77m)Tarot ($641,126.77)Impermax V2 ($571,779.03)Compound V3 ($1.415b)Folks Finance xChain ($5.17m)

Frequently Asked Questions

What is Morpho's TVL?

Morpho currently has $9.881b in total value locked. TVL has increased 23.7% 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 46.8%.

How much has Morpho generated in fees and revenue?

Over the past 30 days, Morpho generated $17.07m in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $204.8m in fees.

What is the MORPHO token price and valuation?

MORPHO is currently trading at $2.15. Its circulating market capitalization is $1.48b, ranking it #72. Its fully diluted valuation is $2.147b. Supply currently stands at 689.15m circulating, 1b total supply, 1b maximum supply.

How has MORPHO performed recently?

MORPHO is down 11.3% over the past 7 days and up 7.6% over the past 30 days. Its all-time high is $4.17, reached on Jan 17, 2025. The token is currently 48.4% 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 $50.184b across 523 protocols, and Morpho accounts for 19.6% 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 $5.052b in active loans.

Does Morpho have a treasury?

Morpho has a tracked treasury currently valued at $28.79m. Its holdings include $99.95 in stablecoins, $72.53 in major assets, $28.79m in its own tokens, $1,991.81 in other assets.