Morpho
Credit · Lending · MORPHO
Morpho is a lending protocol built around Morpho Blue, a minimal primitive for creating isolated markets, with MetaMorpho vaults that allocate deposits across those markets through risk curators.
Customizable lending infrastructure — isolated markets + curated vaults.
MORPHO price
$2.03
-5.8% 24h
Latest data · 15 min delay
AI Agent Skill
Machine-readable protocol knowledge for agents
Morpho — Research Skill
Customizable lending infrastructure — isolated markets + curated vaults.
morpho · v1.0.0
Facts
| category | Network |
| symbol | MORPHO |
| tagline | Customizable lending infrastructure — isolated markets + curated vaults. |
| arbitrumNative | no |
| chains | Corn, Linea, Optimism, Sonic, Soneium, Botanix, Zircuit, Stable, Binance, Hemi, Tempo, Celo, Ink, xDai, Sei, Etherlink, Bitlayer, Lisk, Scroll, Fraxtal, Mode, Flare, Citrea, Robinhood Chain, Plume Mainnet, Abstract, Unichain, World Chain, MegaETH, Klaytn, TAC, 0G, Katana, Arbitrum, Hyperliquid L1, Monad, Polygon, Ethereum, Base |
| security | verified (OZ-derived · public audit on file) |
| memberCoins | 3 (MORPHO, MORPHO, maUSDC) |
| founded | 2024-01-14 |
| tvl | $28.42M |
| marketCap | $1.32B |
| price | $2.03 |
| priceChange24h | -5.8% |
| priceChange7d | 21.8% |
| priceChange30d | 5.7% |
| fdv | $2.03B |
| marketCapRank | #58 |
| tvlChange1d | 1.2% |
| tvlChange7d | 5.7% |
| universalMetricsSyncedAt | 2026-07-03T17:03:27Z |
| users | 180K |
Sections
Overview
Morpho is a lending protocol built around Morpho Blue, a minimal primitive for creating isolated markets, with MetaMorpho vaults that allocate deposits across those markets through risk curators.
What makes it different
Instead of one big pool, Morpho Blue markets each fix a collateral, loan asset, oracle and liquidation setting; curators build vaults on top — more modular and risk-specific than Aave.
Components
- Morpho Blue: Minimal immutable lending primitive — each market fixes collateral, loan asset, oracle, and LLTV. - MetaMorpho vaults: Curated vaults that allocate supplier liquidity across Morpho Blue markets with supply caps. - MORPHO token: Governance token for the Morpho DAO and protocol fee routing.
Member coins
- MORPHO (MORPHO) — Token, DAO governance token - MORPHO (MORPHO) — Token, Governance token - maUSDC, mcUSDC (and other Optimizer wrappers) (maUSDC) — Receipt, Optimizer wrappers
Risks
- Smart Contract: Upgradeable or complex lending logic can fail under edge-case liquidations or parameter misconfiguration. - Oracle: Stale or manipulated price feeds impair collateral valuation and liquidations. - Collateral: Correlated collateral drawdowns or listing errors can create bad debt in money markets. - Liquidity: Thin borrow/supply depth impairs exits and liquidations during market stress. - Governance: Parameter changes, listings, and emissions are controlled by token holders or delegates. - Curator: MetaMorpho curators choose market allocations; poor curator decisions isolate bad outcomes to vault depositors.
TradFi analogue
- Securitization / tranched credit fund: similar — MetaMorpho vaults allocate deposits across isolated credit markets with defined risk, and curators act like asset managers selecting exposures.; differs — Fully on-chain and permissionless: markets are immutable with fixed parameters, there is no legal SPV or fund administrator, and bad debt is contained per market. - Neutral lending marketplace / matching venue: similar — Morpho Blue is minimal infrastructure that others build lending products on top of, rather than a single managed pool.; differs — An immutable smart-contract primitive with per-market fixed collateral, oracle and LLTV; risk is delegated to independent curators instead of a central risk desk.
Actions
| Name | Signature | Access |
|---|---|---|
getProfile Read the CanHav profile for Morpho. | research_getEntity({ slug: "morpho" }) | read-only |
listMembers List the member coins (stablecoins / tokens / RWAs) under this network. | research_listByCategory({ category: "networks" }) | read-only |
readLiveMetrics Read live on-chain supply / metadata for a member contract (Arbitrum). | chain_readLive({ address: "0x..." }) | read-only |
getHistory Pull historical peg / TVL series for a member protocol. | research_getHistory({ slug: "<member-slug>", metric: "peg" | "tvl" }) | read-only |
Glossary
- TVL
- Total value locked — assets held or managed by a protocol, in USD.
- APR
- Annual percentage rate — yield before compounding.
- RWA
- Real-world asset — an off-chain asset represented as an on-chain token.
- ERC-8004
- Trustless-agent identity standard; an agent's portable on-chain identity (ERC-721).