Morpho (MORPHO)
Total Value Locked$6.327b
TVL by Chain
Ethereum$3.051b
Base$2.121b
Hyperliquid L1$535.69m
Katana$317.15m
Arbitrum$110.7m
World Chain$36.85m
Unichain$34.55m
Monad$32.61m
OP Mainnet$28.29m
Polygon$26.11m
Plume Mainnet$15.47m
Sei$3.62m
Etherlink$3.41m
Lisk$3.09m
Soneium$2.19m
Botanix$2.03m
Hemi$1.87m
TAC$827,522
Corn$16,526
Fraxtal$890
Scroll$140
Sonic$83
BSC$25
Ink$1
Gnosis$0
Mode$0
Bitlayer$0
Zircuit$0
Abstract$0
Key Metrics
Fees (Annualized)$270.98m
Fees 30d$22.21m
Fees 7d$2.9m
Fees 24h$419,434
Cumulative Fees$212.55m
Revenue (Annualized)$0
Revenue 30d$0
Revenue 7d$0
Revenue 24h$0
Cumulative Revenue$0
Holders Revenue (Annualized)$0
Holders Revenue 30d$0
Holders Revenue 7d$0
Holders Revenue 24h$0
Cumulative Holders Revenue$0
Incentives (Annualized)$16.53m
Incentives 30d$1.35m
Incentives 7d$129,332
Incentives 24h$17,517
Cumulative Incentives$35.97m
Earnings (Annualized)-$16.53m
Earnings 30d-$1.35m
Earnings 7d-$129,332
Earnings 24h-$17,517
Cumulative Earnings-$35.97m
Market Cap$787.16m
$MORPHO Price$1.48
All Time High$4.17
All Time Low$0.71
Fully Diluted Valuation$1.485b
$MORPHO Volume 24h$16.59m
CEX Volume$11.18m
DEX Volume$5.12m(30.83% of total)
Borrowed$3.11b
$MORPHO Liquidity$6.54m
Aerodrome Slipstream$3.24m
Uniswap V3$1.87m
Uniswap V3$1.34m
Aerodrome V1$91,302
Treasury$33.69m
Majors$95.83
Stablecoins$100.03
Own Tokens$33.67m
Others$20,267
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.
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
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
Income Statement for Morpho
| Q4 2025* | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | |
|---|---|---|---|---|---|---|---|---|
| Fees | $49.62m | $53.8m | $23.18m | $41.3m | $21.72m | $6.38m | $15.38m | $1.16m |
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Incentives | $3.58m | $4.79m | $3.04m | $12.94m | $11.62m | $0 | $0 | $0 |
| Earnings | -$3.58m | -$4.79m | -$3.04m | -$12.94m | -$11.62m | $0 | $0 | $0 |
| Token Holder Net Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |