What is Morpho Labs?
Morpho Blue
Morpho Blue is the most recent protocol version and is independent of Morpho Optimizers. Morpho Blue is a simple lending primitive layer that allows the creation of immutable and efficient lending markets in a permissionless way. The protocol comes with EVM smart contracts which facilitate interactions and integrations.
Morpho Optimizers
The first version of the Morpho Protocol is named Morpho Optimizers. It is built on top of incumbent lending pools and improves the lending and borrowing rates of users with a peer-to-peer matching algorithm while preserving the same liquidity and risk parameters.
MetaMorpho
An protocol for permissionless risk curation on top of Morpho Blue. MetaMorpho is a contract deploying MetaMorpho vaults. Each vault has one loan asset and can allocate deposits to multiple Morpho Blue markets. MetaMorpho vaults offer users a way to provide liquidity and earn interest passively. Vaults have a system to automate risk management so that users are not required to make these decisions. Instead, the vault actively curates a risk exposure for all deposited assets.
Morpho Blue
With a total supply of over $2,000,000,000 and a total borrow of over $950,00,000, Morpho Blue is a trustless and efficient lending primitive with permissionless market creation.
Security
Simple, formally verified, and immutable code base audited by the best security firms in the world.
Efficient
Better rates, higher collateralization factors, and significantly cheaper gas costs than existing lending platforms.
Flexible
Landing markets for any asset, with configurable parameters, allowing for diverse risk exposures.
Morpho Optimizers
Highlighted Features:
Better rates
Earn more yield and reduce borrowing costs
Same liquidity
Access to all the available liquidity on Aave or Compound
Same risk parameters
Using the same oracles, collateral factors, and liquidation parameters
Metamorpho Vaults
A Better Way to Earn Interest in DeFi
How it works:
Lenders deposit a single asset into a noncustodial vault
Deposit a single asset into the vault to be supplied on Morpho Blue markets and receive shares of the ERC-4626 vault in return.
Vault allocates deposits to underlying Morpho Blue markets
The vault then supplies deposited assets to Morpho Blue markets whitelisted by the Curator. The curator can set supply caps of each market. If the supply cap is reached, deposited assets will be supplied to another whitelisted market.
Earn yield from interest paid by Borrowers
The deposited assets earn yield from interest paid by borrowers and additional liquidity mining incentives.
How to use Morpho Blue?
Total deposits in the protocol are currently $1.048.375.438 and the total borrowed amount is $394.066.547. This already gives Morpho a huge trust factor.
To start borrowing you first need to connect your wallet (metamask, trustwallet,…)
Then, choose which asset you want to use as collateral and which asset you want to loan. Important is that you take a look on important stats like the Liquiditation LTV, the 1D borrow APY and more.
Once you have choosen your assets, simply click on borrow and start earning money.
Using Morpho Optimizers
Depending on which optimizer you want to use, you need to get on seperate websites:
Compound
compound.morpho.org
AaveV2
aavev2.morpho.org
AaveV3-ETH
aavev3.morpho.org
Using it is simple, you connect your wallet, choose if you want to supply or borrow and easily start.
How to use metamorpho vaults?
It is very simple. You need to connect your wallet to: app.morpho.org, choose which vault you want to supply and then just supply your assets. Make sure to check the Net APY for the last few weeks so you know which results you can expect.
Backing
As you already might think, they are backed by huge companies like a16z, coinbase, spark capital and more.
Security
Security is the highest priority, with over 23 audits by crypto’s most renowned security firms.
Safety Ratings
Morpho’s overall score of 98% is the highest received by the 300+ protocols reviewed by DeFi Safety.
Formal Verification
The protocol’s logic was formally described in the yellow paper. Automated tools like Certora and Why3 have proved many properties of the code.
Bug Bounty
To ensure Morpho is as secure as possible, there are rewards of up to $555,555 for any bugs or vulnerabilities found and submitted via Immunefi.
Conclusion
Morpho’s Socials
Website: morpho.org
Morpho Blue & Metamorpho App: app.morpho.org
Morpho Blue & Metamorpho Risk App: risk.morpho.org
Analytics page: analytics.morpho.org
Governance: governance.morpho.org
Twitter: twitter.com/MorphoLabs
Blog: morpho.mirror.xyz/
Documentation: docs.morpho.org
White Paper: whitepaper.morpho.org
Disclaimer
No Financial Advice. Please always do your own research. We are not responsible for any losses.
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