morph

A post published by the official X account of the decentralized lending protocol Morpho stated that most curator businesses cannot sustain their operations solely through treasury fees, and their business model actually relies on private distribution agreements. The post has since been deleted.In response to this matter, Aave founder Stani Kulechov stated that this is the most pessimistic statement for MORPHO holders. Morpho CEO Paul Frambot responded that the post was published by a third-party artificial intelligence marketing tool.Morpho is a decentralized lending protocol operating on networks such as Ethereum, matching borrowers and lenders through a treasury and curator mechanism while managing funds. The curator business refers to a model where third-party institutions create and manage treasuries based on the Morpho protocol and generate income from related fees.

The founder of Morpho, Paul Frambot, proposed a classification scheme suggesting that on-chain vaults be divided into "noncustodial" and "discretionary" categories to clearly define their nature to regulatory authorities.This proposal was immediately opposed by Aave founder Stani Kulechov, who called the classification "self-serving." Several vault developers also raised concerns, arguing that the timelock mechanism does not truly eliminate the role of the manager.

According to The Block, Coinbase announced the launch of fixed-rate Bitcoin collateralized loans through Morpho Midnight, allowing users to borrow USDC and determine the interest rate and repayment date at the time of borrowing. This new option is alongside Coinbase's existing floating-rate loans (based on Morpho Blue), which have outstanding loans exceeding $1.4 billion, corresponding to collateral of approximately $3 billion.Morpho launched Midnight on Base in July, introducing fixed rates and clear loan terms for on-chain lending. A Morpho spokesperson stated that Coinbase is the first mainstream consumer platform to offer Midnight loans on a large scale; since Midnight's launch, deposits have reached approximately $30 million. The outstanding loans for Morpho Blue across all integrations amount to $5.2 billion, with deposits reaching $16 billion.A Coinbase spokesperson did not disclose specific interest rates, stating that rates are determined by the supply and demand of both parties on the on-chain order book. Currently, Coinbase offers loans that mature at the end of the month or the end of the following month, and borrowers must repay before the due date; otherwise, lenders have the right to liquidate their collateral. Jacob Frantz, Coinbase's head of revenue and investment products, stated that Coinbase Borrow allows users to obtain liquidity without selling assets, and fixed-rate borrowing gives users greater choice in credit management. Morpho indicated that Midnight could also be used in the future to build structured credit products and loans collateralized by tokenized real-world assets, with more integrations in progress.

According to The Defiant, the decentralized lending protocol Morpho announced that the lending market for Coinbase's tokenized stocks has launched on Base. Holders can use five types of stock tokens as collateral to borrow USDC at floating or fixed rates. Since August, Coinbase has been issuing these stock tokens to users outside the United States, allowing users to store them in self-custody wallets, enabling collateralized lending to obtain dollar liquidity without selling their positions.Data shows that borrowers have pledged stock tokens worth $104,400, borrowing $54,700, with a total supply of approximately $60,300 across five markets. All five markets are curated by Steakhouse Financial, with its two Steakhouse High Yield USDC vaults providing 98.9% of the funding in the largest market. The markets cover five tokens: Apple, Alphabet, Nvidia, Meta, and SpaceX, with the liquidation loan-to-value ratio (LLTV) for the Apple, Nvidia, Meta, and SpaceX markets at 62.5%, and 77% for the Alphabet market.Currently, all borrowing occurs in the floating rate market, and there are no outstanding positions in the fixed rate layer Midnight's 95 markets. The utilization rates for the Apple, Alphabet, and Nvidia markets reach 90%, with borrowing rates at 5.62%; the Meta market has a utilization rate of 97%, with borrowing rates rising to 17.52%. Morpho's total deposits on Base amount to $4.03 billion, with total chain deposits reaching $10.42 billion.

According to The Block, the on-chain confidentiality protocol Zama will open deposits for 16 confidential vaults on Morpho, covering assets such as USDC, USDT, AUSD, and TGBP. Its first vault went live in June in collaboration with Morpho and Steakhouse Financial, using Steakhouse's USDC Prime strategy, with total locked assets increasing from zero to $40 million within seven weeks. Steakhouse will manage part of the vaults, while Armitage by Wintermute, Flowdesk, RockawayX, and Bitwise will also serve as managers.Users can confidentially access 12 existing non-confidential versions of Morpho vaults on Ethereum, with an additional 4 created specifically for confidential deposits. Zama also launched the Zama Swap Protocol, allowing depositors to confidentially exchange cUSDC, cUSDT, cAUSD, and cTGBP as well as confidential vault shares on Ethereum, without disclosing transaction size or intent. Zama stated that positions, balances, and strategies on public blockchains are visible to competitors and frontrunners, posing a structural barrier to large-scale deployment by institutions. The vaults will first go live through Zama's own application, with Utila, Zerion Wallet, and Yield.xyz set to integrate in the coming weeks.

According to The Defiant, the decentralized lending protocol Morpho deployed its fixed-term, fixed-rate lending agreement Midnight to Ethereum on September 8, expanding the product from the Base network to Ethereum, allowing Ethereum users to access USDC loans collateralized by WBTC or cbBTC. Morpho co-founder Merlin Egalite stated that the Ethereum launch will start with the "USDC | cbBTC and USDC | WBTC markets" and will gradually expand.The core difference between Midnight and Morpho Blue lies in interest rate certainty. Blue uses open loans where interest rates fluctuate according to a formula; Midnight, on the other hand, trades credit units at market-priced rates with fixed terms, allowing borrowers to determine financing costs in advance, and lenders can lock in returns instead of bearing interest rate changes with each block. Midnight lenders purchase credit units at prices below the one-to-one redemption value at maturity.However, the largest potential source of funds for Midnight remains constrained. The Morpho Vaults, holding approximately $5 billion in deposits, can only allocate to the Morpho Blue market until the DAO enables the Midnight configuration. Morpho co-founder and CEO Paul Frambot stated that enabling the Vault configuration requires just one DAO transaction, but Vault activation is expected to be achieved in the fourth quarter. At launch, the total deposits in the Ethereum Midnight market were approximately $7.41 million, with outstanding loans of about $2.63 million.

Morpho co-founder and CEO Paul Frambot stated in a post on X that over the past six months, the team has received many opportunities to acquire cryptocurrency companies.He mentioned that Morpho rarely acquires companies for intellectual property or technology. If they want to build a certain capability, they prefer to hire the right talent and develop it end-to-end themselves, following their own engineering, auditing, and formal verification processes. Talent acquisition may be attractive, but the valuation will be purely based on a comparison of the cost of the talent acquired versus hiring an equivalent team.

Bitwise announced the launch of the Bitwise Premium RWA Vault (PAPY) on Morpho, in collaboration with the Agora stablecoin AUSD.Users can deposit AUSD into PAPY, and the vault will programmatically lend out the funds, secured by over-collateralized tokenized RWAs to generate on-chain lending yields.The collateral assets of PAPY include PST launched by Huma Finance, used for providing short-term cross-border payment financing to institutions; sUSDai launched by USDai, supported by AI computing GPU-related loans; and PRIME launched in collaboration with HastraFi and Figure, consisting of tokenized debt backed by high-quality residential equity.AUSD is fully backed by liquid assets such as short-term U.S. Treasury bonds, overnight and reverse repurchase agreements. Bitwise is responsible for screening the collateral acceptable for PAPY and setting programmatic risk parameters. The vault is now officially launched on Morpho.

According to PeckShieldAlert monitoring, the wallet address 0x854e...690d purchased YT reUSD in the market, pushing the implied yield up to 20%, and then quickly sold off that position, triggering a liquidation of approximately $36.39 million in the PT reUSD circular position on Morpho.

Morph Network officially announces the launch of Morph Payments, positioned as an enterprise-level stablecoin payment platform for global businesses. Enterprises can register via email and generate payment links, while customers can use any wallet and network to pay with stablecoins, with funds arriving within seconds. The recipient can choose their preferred network for receiving payments.The payment side supports single or bulk payments to suppliers, employees, or contractors. Morph Network states that the platform is aimed at real business scenarios, covering the global flow of funds from receiving to paying.

Fully Homomorphic Encryption (FHE) company Zama CEO Rand Hindi stated on X on Monday that the company has achieved benchmark results of 1,000 confidential transactions per second on GPUs, an increase of about 5,000 times compared to the 0.2 transactions per second demonstrated at ETHcc in 2022. Hindi mentioned that the cost of running an FHE node is approximately $0.000004 per ERC7984 transaction, significantly lower than zero-knowledge proofs, but this comparison has not been independently verified. The benchmark has not yet been activated on any mainnet, is self-reported data from the company, and the testing methods have not been published, with plans to go live by the end of the year.Hindi also set long-term goals: 10,000 tps by 2028 and 100,000 tps by 2030. Zama has been active recently: on July 24, a confidential RFQ exchange product was launched, which within weeks shielded over $121 million USDT on Ethereum, collaborated with Elliptic to enhance compliance screening for confidential transactions, and co-founded the Confidential Token Association with OpenZeppelin and Inco to standardize encrypted ERC-20 tokens. Zama previously completed a $57 million Series B funding round.

The cryptocurrency trading platform Upbit announced that it will launch MORPHO (Morpho) on the Korean won (KRW) market at 18:00 on July 25, with the network supported being Ethereum.

UPBIT will launch KRW trading for Morpho (MORPHO) on July 25 at 18:00. Users are advised to confirm the network before depositing; the supported network is MORPHO-Ethereum.

Token Terminal data shows that despite a cumulative decline of about 42% in the overall total locked value (TVL) of DeFi over the past 365 days, the USDC deposit scale on the lending protocol Morpho has grown by about 86%, reaching approximately $2.8 billion.The data indicates that amidst the overall slowdown in DeFi growth, funds continue to flow into on-chain lending protocols represented by Morpho, reflecting that the market demand for USDC yield-bearing lending products remains strong.

Raydium announces the launch of the token MORPHO for trading.MORPHO is the ecological token of the on-chain credit protocol, which has now been integrated and deployed to the Solana ecosystem through Sunrise, and trading pairs are open on Raydium, allowing users to participate in related liquidity and trading activities on Solana.

According to on-chain analyst Yu Jin's monitoring, HYPE recently rebounded from $60 and has re-established itself above $70. A certain whale address withdrew 212,500 HYPE from Morpho one hour ago, worth approximately $15 million, and has since transferred all of it to Coinbase.

According to The Block, Standard Chartered Bank has initiated coverage on Morpho for the first time, setting a target price of $60 for its native token MORPHO by the end of 2030, representing a potential increase of approximately 2787%.Geoff Kendrick, Head of Global Digital Assets Research at Standard Chartered, provided annual forecasts in the report: $3.5 in 2026, $11 in 2027, $22 in 2028, $40 in 2029, and reaching $60 in 2030.The report noted that Morpho is the second-largest decentralized lending protocol after Aave, with current deposits in Morpho Markets of approximately $5.5 billion and a scale of about $4.3 billion in Morpho Vaults. Analysts believe that as the total assets in DeFi are expected to grow 37 times by 2030, Morpho is likely to benefit from this.Standard Chartered previously predicted that by 2030, the upside potential for UNI is approximately 34 times, and for AAVE, it is about 38 times.

On-chain data shows that assets under Coinbase have become the most important source of traffic for the decentralized lending protocol Morpho. USDC and cbBTC together account for 53% of total deposits on the Morpho platform, with Coinbase users contributing 83% of cbBTC deposits and 59% of USDC deposits. The lending side is also highly dependent on the Coinbase ecosystem. Of the $2.3 billion USDC loans on the Morpho platform, approximately $1.2 billion comes from Coinbase users using cbBTC as collateral, accounting for more than half.Analysts point out that a deep symbiotic relationship has formed between the two: Coinbase takes on the role of user acquisition and asset flow, while Morpho acts as the yield layer that brings these assets into on-chain operations. This case once again confirms that in the crypto industry, the moat of distribution channels is often stronger than the technology itself.

UPBIT will launch BTC and USDT trading for PEAQ and LIT at 15:00 on June 19, while trading for KMNO and MORPHO will start at 16:00 on June 19. Trading for GRAM, LDO, and PAXG will begin at 18:00 on June 19, and trading for OSMO and AMP will start at 19:00 on June 19. Users can pay attention to subsequent announcements for specific trading pair information.