Morpho (MORPHO)
Total Value Locked$9.04b
TVL by Chain
borrowed$3.207b
Ethereum$2.575b
Base$2.069b
Hyperliquid L1$449.16m
Katana$301.47m
Arbitrum$122.27m
Stable$99.99m
Monad$49.08m
Unichain$39.65m
World Chain$36.55m
OP Mainnet$32.64m
Polygon$26.4m
Plume Mainnet$15.01m
Etherlink$3.38m
Sei$3.37m
Lisk$3.06m
Botanix$2.78m
Soneium$2.11m
Hemi$1.84m
TAC$831,906
Corn$16,154
Scroll$1,543
Fraxtal$872
Sonic$83
BSC$23
Ink$1
Gnosis$0
Abstract$0
Bitlayer$0
Zircuit$0
Mode$0
Key Metrics
Fees (Annualized)$223.33m
Fees 30d$18.31m
Fees 7d$2.73m
Fees 24h$380,219
Cumulative Fees$216.06m
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)$13.03m
Incentives 30d$1.07m
Incentives 7d$119,926
Incentives 24h$24,486
Cumulative Incentives$36.35m
Earnings (Annualized)-$13.03m
Earnings 30d-$1.07m
Earnings 7d-$119,926
Earnings 24h-$24,486
Cumulative Earnings-$36.35m
Market Cap$617.22m
$MORPHO Price$1.14
All Time High$4.17
All Time Low$0.71
Fully Diluted Valuation$1.143b
$MORPHO Volume 24h$14.22m
CEX Volume$9.81m
DEX Volume$4.3m(30.25% of total)
Borrowed$3.207b
$MORPHO Liquidity$6.54m
Aerodrome Slipstream$3.24m
Uniswap V3$1.87m
Uniswap V3$1.34m
Aerodrome V1$91,302
Treasury$25.84m
Majors$92.93
Stablecoins$100.02
Own Tokens$25.82m
Others$16,203
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 | $53.13m | $53.8m | $23.18m | $41.3m | $21.72m | $6.38m | $15.38m | $1.16m |
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Incentives | $3.97m | $4.79m | $3.04m | $12.94m | $11.62m | $0 | $0 | $0 |
| Earnings | -$3.97m | -$4.79m | -$3.04m | -$12.94m | -$11.62m | $0 | $0 | $0 |
| Token Holder Net Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |