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Jay Jay by Jay Jay

The Morpho Effect: May 2025

Newsletter

TL;DR

🔹 Morpho’s vision refined: build an onchain system to price & settle any loan

🔹 Morpho reached $1.4B in total deposits on base

🔹 Safe{Wallet} Earn: institution-grade yield, powered by Morpho

🔹 Polygon PoS now available on the Morpho App

Highlight of the Month

The Price of Trust & Morpho's Vision

Morpho’s co-founder and CEO Paul Frambot lays out the vision for Morpho’s future:

Build an onchain system to price and settle any loan.

This requires three key elements:

🔹 creating open & competitive markets

🔹 enabling the expression of different trust assumptions

🔹 minimizing infrastructure impact on these assumptions

Institutional-Grade Yield, within the Safe{Wallet} App

Safe{Wallet}, the leading multisig wallet for institutions and enterprises, now offers a native earn product that is exclusively powered by Morpho.

Agglayer Vault Bridge, Powered by Morpho

Morpho powers the Agglayer VaultBridge, where deposited assets earn yield through vaults curated by Steakhouse, Gauntlet, and other curators on Ethereum.

Based Morpho is now 1.4B Total Deposits Strong

Morpho on Base has become the dominant lending protocol on Base, reaching over $1.4B in total deposits.

New on the Morpho App

Morpho App now supports Polygon PoS

With $180M+ in total deposits since its deployment in March, Polygon PoS is now officially supported in the Morpho App.

Morpho App Light Mode

Vault and Market Pages Refined

What Do the Numbers Say?

🔹 The DeFi Mullet continues to grow.

Coinbase crypto-backed loans have now generated over $250M in active loans.

🔹 Apollo ACRED leveraged strategy keeps growing on Morpho Polygon PoS

🔹 Deposits from Trust Wallet’s integration with Morpho now has $20M+ in TVL

🔹 Curators are a category of their own.

9 out the top 10 curators on DeFillama are curators on Morpho.

Ecosystem Updates

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