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Morpho(MORPHO)

Total Value Locked$11.229b

TVL by Chain

Ethereum$5.129b

Base$4.433b

Robinhood Chain$607.34m

Arc$313.39m

Monad$176.68m

Hyperliquid L1$151.99m

Morph$73.68m

Pharos$68.34m

Tempo$65.38m

Flare$48.95m

World Chain$38.89m

Arbitrum$33.3m

Katana$30.53m

Stable$28.52m

Citrea$8.73m

Sei$3.92m

OP Mainnet$3.89m

Etherlink$3.66m

Polygon$3.08m

Plume Mainnet$2.52m

Unichain$1.15m

MegaETH$963,815

XDC$571,563

Celo$549,149

TAC$444,193

Kaia$392,901

Abstract$44,774

Soneium$29,430

Lisk$9,078

Hemi$1,837

Avalanche$629

Fraxtal$379

Sonic$103

RISE$96

BSC$82

0G$42

Scroll$37

Ink$13

Corn$0

Botanix$0

Linea$0

Bitlayer$0

Mode$0

Zircuit$0

Gnosis$0

Key Metrics

Fees 30d$20.84m
Fees 30d by chain

Ethereum$9.42m

Base$8.37m

Robinhood Chain$1.68m

Monad$615,036

Hyperliquid L1$339,698

Flare$106,692

Stable$62,565

Katana$60,603

Arc$59,256

Pharos$39,284

Arbitrum$34,099

Plume Mainnet$22,219

Tempo$7,953

Unichain$5,898

Polygon$5,856

Abstract$5,791

OP Mainnet$5,521

Citrea$2,787

World Chain$88.55

Celo$55.73

Etherlink$22.95

Morph$0.38

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Sonic$0

Zircuit$0

Fees 7d$5.34m

Base$2.36m

Ethereum$2.26m

Robinhood Chain$412,561

Monad$151,386

Hyperliquid L1$54,018

Arc$45,232

Flare$23,228

Katana$11,005

Pharos$10,031

Arbitrum$7,682

Plume Mainnet$5,075

Abstract$2,528

Polygon$1,696

OP Mainnet$1,193

Unichain$1,002

Citrea$697

Tempo$152.07

World Chain$69.40

Celo$24.12

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Zircuit$0

Fees 24h$1.12m

Base$671,534

Ethereum$326,566

Robinhood Chain$69,148

Monad$22,820

Arc$9,931

Hyperliquid L1$6,937

Flare$3,452

Arbitrum$2,906

Pharos$2,405

Katana$1,800

Plume Mainnet$369

Polygon$309

Citrea$227

Unichain$119

OP Mainnet$114

Tempo$12.52

Celo$5.07

Abstract$0.12

World Chain$0.09

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Zircuit$0

Cumulative Fees$364.99m

Ethereum$219.55m

Base$112.2m

Hyperliquid L1$15.48m

Arbitrum$4.7m

Robinhood Chain$3.6m

Katana$2.91m

Monad$2.72m

Polygon$1.28m

Unichain$1.06m

Flare$450,099

OP Mainnet$313,749

Stable$251,279

Plume Mainnet$119,643

Soneium$90,232

Pharos$72,208

Arc$70,099

Corn$40,518

World Chain$36,261

Tempo$13,122

Abstract$12,427

Citrea$10,734

Hemi$3,640

Etherlink$3,354

Celo$697.12

Fraxtal$1

Morph$0.38

Ink$0

Mode$0

Scroll$0

Sonic$0

Zircuit$0

Revenue 30d$0
Revenue 30d by chain

Abstract$0

Arbitrum$0

Arc$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

Arc$0

Base$0

Celo$0

Citrea$0

Ethereum$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

Abstract$0

Arbitrum$0

Arc$0

Base$0

Celo$0

Citrea$0

Ethereum$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

Cumulative Revenue$0

Abstract$0

Arbitrum$0

Arc$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

Arc$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

Arc$0

Base$0

Celo$0

Citrea$0

Ethereum$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

Abstract$0

Arbitrum$0

Arc$0

Base$0

Celo$0

Citrea$0

Ethereum$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

Cumulative Holders Revenue$0

Abstract$0

Arbitrum$0

Arc$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$10.81m

$527,977

$130,355

$9,727

$46.26m

Earnings (30d Run Rate)-$6.44m

-$527,977

-$130,355

-$9,727

-$46.26m

Collateral Liquidated 30d$1.87m
Collateral Liquidated 30d by chain

Base$981,135

Robinhood Chain$603,672

Ethereum$98,162

Abstract$75,638

Flare$57,401

Hyperliquid L1$38,412

World Chain$10,366

Polygon$7,993

Plume Mainnet$688.35

Katana$114.79

Arbitrum$59.36

Morph$5.48

Monad$0.40

Arc$0

Celo$0

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

OP Mainnet$0

Pharos$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

Zircuit$0

Collateral Liquidated 7d$1.18m

Base$854,884

Robinhood Chain$180,224

Abstract$69,227

Flare$39,938

Ethereum$14,912

World Chain$10,345

Hyperliquid L1$3,428

Polygon$3,110

Plume Mainnet$363.20

Arbitrum$50

Katana$7.81

Monad$0.40

Arc$0

Celo$0

Citrea$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Morph$0

OP Mainnet$0

Pharos$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

Zircuit$0

Collateral Liquidated 24h$551,027

Base$501,228

Abstract$31,790

Robinhood Chain$10,944

World Chain$3,735

Ethereum$1,348

Polygon$991

Flare$949

Plume Mainnet$42

Arbitrum$0

Arc$0

Celo$0

Citrea$0

Fraxtal$0

Hemi$0

Hyperliquid L1$0

Ink$0

Katana$0

Mode$0

Monad$0

Morph$0

OP Mainnet$0

Pharos$0

Scroll$0

Soneium$0

Sonic$0

Stable$0

Tempo$0

Unichain$0

Zircuit$0

Cumulative Collateral Liquidated$87.92m

Ethereum$81.5m

Base$2.91m

Hyperliquid L1$2.58m

Robinhood Chain$675,996

Flare$124,373

Abstract$76,746

Celo$22,905

Polygon$13,297

World Chain$10,818

Plume Mainnet$3,659

Arbitrum$3,118

Katana$643.55

OP Mainnet$18

Morph$5.48

Pharos$1.39

Monad$0.40

Sonic$0.04

Arc$0

Citrea$0

Etherlink$0

Fraxtal$0

Hemi$0

Ink$0

Mode$0

Scroll$0

Soneium$0

Stable$0

Tempo$0

Unichain$0

Zircuit$0

Market Cap$1.672b

$MORPHO Price$2.39

All Time High$4.17

All Time Low$0.71

View $MORPHO token page

$2.387b

$2.39b

$MORPHO Volume 24h$32.43m

CEX Volume$17.7m

DEX Volume$11.74m(36.21% of total)

Active Loans$5.719b

Treasury$32.53m

$74.89

Stablecoins$99.92

Own Tokens$32.53m

Others$1,413

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 Tracked260

Average Supply APY4.69%

User Activity

Active Addresses (24h)3,898

Transactions (24h)71,095

Competitors

Aave V3 ($17.341b)Avalon Finance ($1.31m)Euler V2 ($303.07m)Ajna V2 ($48,343)PWN ($22,255)Gearbox ($23.37m)LayerBank ($2.34m)Tarot ($726,439)Impermax V2 ($581,235)Compound V3 ($1.44b)

Frequently Asked Questions

What is Morpho's TVL?

Morpho currently has $11.229b in total value locked. TVL has increased 15.5% over the past 30 days.

What chains does Morpho operate on?

Morpho operates on 45 chains: Ethereum, Base, Robinhood Chain, Arc, and Monad and 40 others. Ethereum holds the largest share at 45.7%.

How much has Morpho generated in fees and revenue?

Over the past 30 days, Morpho generated $20.84m in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $206.09m in fees.

What is the MORPHO token price and valuation?

MORPHO is currently trading at $2.39. Its circulating market capitalization is $1.672b, ranking it #74. Its fully diluted valuation is $2.387b. Supply currently stands at 700.29m circulating, 1b total supply, 1b maximum supply.

How has MORPHO performed recently?

MORPHO is down 9.6% over the past 7 days and up 1.8% over the past 30 days. Its all-time high is $4.17, reached on Jan 17, 2025. The token is currently 42.7% 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 $52.819b across 518 protocols, and Morpho accounts for 21.2% of that total. Other leading protocols include Aave V3, Avalon Finance, Euler V2, Ajna V2, PWN, Gearbox, LayerBank, Tarot, Impermax V2, and Compound V3.

How much has been borrowed through Morpho?

Morpho currently has $5.719b in active loans.

Does Morpho have a treasury?

Morpho has a tracked treasury currently valued at $32.53m. Its holdings include $99.92 in stablecoins, $74.89 in major assets, $32.53m in its own tokens, $1,413 in other assets.