Morpho (MORPHO)
Total Value Locked$5.804b
TVL by Chain
Ethereum$2.634b
Base$2.082b
Hyperliquid L1$413.8m
Katana$290.96m
Arbitrum$133.52m
Monad$74.76m
Unichain$58.52m
World Chain$33.97m
OP Mainnet$32.36m
Polygon$17.46m
Plume Mainnet$15.87m
Lisk$3.16m
Etherlink$3.09m
Botanix$2.71m
Sei$2.64m
Soneium$2.23m
Hemi$1.9m
TAC$683,074
Corn$16,081
Stable$3,303
Scroll$1,542
Fraxtal$554
Sonic$83
BSC$18
Ink$1
Abstract$0
Gnosis$0
Zircuit$0
Bitlayer$0
Mode$0
Key Metrics
Fees (Annualized)$147.18m
Fees 30d$12.06m
Fees 7d$2.71m
Fees 24h$374,053
Cumulative Fees$209.67m
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)$10.61m
Incentives 30d$869,605
Incentives 7d$190,497
Incentives 24h$22,361
Cumulative Incentives$36.69m
Earnings (Annualized)-$10.61m
Earnings 30d-$869,605
Earnings 7d-$190,497
Earnings 24h-$22,361
Cumulative Earnings-$36.69m
Market Cap$634.49m
$MORPHO Price$1.17
All Time High$4.17
All Time Low$0.71
Fully Diluted Valuation$1.172b
$MORPHO Volume 24h$10.01m
CEX Volume$7.1m
DEX Volume$2.82m(28.18% of total)
Borrowed$3.262b
$MORPHO Liquidity$6.54m
Aerodrome Slipstream$3.24m
Uniswap V3$1.87m
Uniswap V3$1.34m
Aerodrome V1$91,302
Treasury$26.53m
Majors$88.77
Stablecoins$99.92
Own Tokens$26.52m
Others$11,919
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
Holders Revenue: View code on GitHubIncentives: 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 | |
|---|---|---|---|---|---|---|---|---|
| Gross Protocol Revenue | $57.44m | $54.02m | $20.09m | $28.06m | $20.38m | $11.34m | $17.3m | $1.04m |
| Borrow Interest | $48.04m | $52.97m | $19.35m | $26.74m | $20.16m | $9.64m | $16.21m | $911,661 |
| Liquidation Fees | $9.4m | $1.05m | $738,749 | $1.32m | $216,939 | $1.7m | $1.08m | $127,402 |
| Cost of Revenue | $57.44m | $54.02m | $20.09m | $28.06m | $20.38m | $11.34m | $17.3m | $1.04m |
| Borrow Interest | $48.04m | $52.97m | $19.35m | $26.74m | $20.16m | $9.64m | $16.21m | $911,661 |
| Liquidation Fees | $9.4m | $1.05m | $738,749 | $1.32m | $216,939 | $1.7m | $1.08m | $127,402 |
| Gross Profit | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Incentives | $4.3m | $4.79m | $3.04m | $12.94m | $11.62m | $0 | $0 | $0 |
| Earnings | -$4.3m | -$4.79m | -$3.04m | -$12.94m | -$11.62m | $0 | $0 | $0 |
| Token Holder Net Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
