Morpho
Morpho is a lending network built from isolated markets, each pairing one collateral asset with one loan asset under fixed terms.
Morpho TVL
Assets deposited in Morpho across 38 chains, in US dollars.
Supported chains
Deployed on 38 chains. Ethereum holds 45.5% of deposits.
Fees & revenue
Monthly fees paid by users. No revenue is recorded for Morpho.
About Morpho
What it does, how it earns and what the MORPHO token is for.
Morpho is a decentralized lending platform where people lend and borrow crypto assets. Depositors use Morpho Vaults, noncustodial lending vaults where they earn yield on their assets, and borrowers use Morpho Markets to borrow assets directly from the platform.
Morpho uses isolated lending markets, which the project says allow higher collateralization factors. Its design is minimal and immutable, and MORPHO is the protocol token.
Morpho FAQ
Short answers to what people ask most.
Deposits can be made on more than 30 chains, and the most are on Ethereum, as of 2026.
Curated vaults allocate deposits across multiple markets.
Yes. Morpho lets developers and businesses create markets and curate vaults on its permissionless infrastructure.
Morpho news
Coverage of the protocol, its category and its chain.
Similar protocols
Other lending protocols, ranked by value locked.
