Morpho(MORPHO)

Overview

Morpho is a decentralized lending protocol running on Ethereum and other EVM-compatible networks, designed to let users earn yield on deposited assets or borrow against collateral. Lenders supply funds through Morpho Vaults, noncustodial vaults that allocate deposits across lending markets, while borrowers take loans directly from Morpho Markets. Each market is isolated, with its own collateral asset, loan asset, and liquidation parameters.

The protocol emphasizes immutable smart contracts and minimized governance, and its infrastructure is permissionless: anyone can create a market, curate a vault, or build applications on top of it. The MORPHO token is used for protocol governance, allowing holders to vote on proposals such as parameter changes. Developers and businesses use the same infrastructure to build their own lending-related products.