July was when the 🦋 took flight.

🔹 Morpho’s total deposits reach $9B

🔹 Coinbase Loans collateral exceeds $1B with over $500M in active loans

🔹 Ethereum’s DeFi Mullet is inevitable

🔹 Morpho Mini App now available on the Base App (beta)

🔹 New Privy Recipe enables developers to integrate Morpho-powered yield in hours

Total deposits on Morpho broke $7B, $8B, and $9B, reaching new all-time highs.

7B

8B

9B

“Fintech in the front, DeFi in the back” is how we bring the benefits of decentralized financial systems to billions of people.

With $500M+ in active loans, $600M+ in total originations, and $1B+ in total collateral, the DeFi Mullet can’t stop and won’t stop.

Any developer can now embed Morpho-powered yield into their app via Privy by Stripe.

Multiply

Repay with Collateral

Swap

The Morpho App now has a suite of borrower-friendly tools

Filter by wallet holdings

Morpho on Base exceeds $2B, making it the largest DeFi protocol instance on any Ethereum L2

USDC summer hits Morpho with over 1.6B USDC now deposited on the platform

$1.7B in cbBTC (or 30% of total cbBTC supply) is productive on Morpho

Went live just 1 month ago, Morpho on Katana reaches 300M+ in total deposits

• 500M+ in Pendle tokens are now collateralized on Morpho
• Morpho launches on Telegram via TAC, bringing its trusted lending network to 1B+ Telegram users
• Morpho wins the inaugural CFM grant from the Uniswap Foundation, unlocking $100,000 in incentives for Morpho users on Unichain
• World DeFi is truly global: none of the top 5 user origin countries are traditional “Western Nations”
• Hypernative monitoring tools now available for curators
• Spark emerges as one of the largest asset allocators on Morpho, providing over 80% of USDC liquidity to Coinbase crypto-backed loans users
• MORPHO Rewards live on Katana and rewards increased by 0.5% for USDC vaults on Base
• cbBTC growth on Morpho outpaces overall cbBTC growth
• Vault V2 security audit competition successfully completed