What is Morpho?
Morpho is the open credit network that brings lending and borrowing directly
into financial apps like Robinhood, Coinbase, Uniswap, Kraken, and Ledger
The network behind the app
Financial platforms use Morpho to power “Lend”, “Earn”, and “Borrow” products for their users.
When you see “Powered by Morpho,” it means Morpho provides the infrastructure underneath the product you're using.
Think of the role a card network plays in payments. You interact with your bank or app, while the network underneath helps enable the transaction. Morpho plays a similar role for lending. You interact with an app or financial platform, while Morpho provides the underlying credit network underneath. The app owns the product and user experience and Morpho powers the lending and borrowing behind it.
How does Morpho work?
At its simplest, Morpho is open, shared infrastructure that connects people who want to lend with people who want to borrow.
There are two main building blocks you may encounter when using Morpho or products powered by Morpho: Markets and Vaults.
Markets
Where lending and borrowing happens
Lenders supply an asset to earn yield, while borrowers post collateral to take out a loan and pay interest.
Vaults
Where your deposit is automatically allocated across multiple markets to earn yield
Deposit to earn yield based on preset risk rules. Your assets remain available to withdraw subject to market conditions.
Where does the yield come from?
Yield comes primarily from interest paid by borrowers. Some products also offer temporary incentives or rewards, which are separate and can change or end.
The APY you see today is not a guaranteed future return.
You supply assets to lend
Your assets enter a lending market and become available to borrowers.
A borrower provides collateral
People borrow to access liquidity without selling their assets, using those assets as collateral.
They take out a loan
They access liquidity without selling the assets they posted as collateral.
They pay interest on the loan
Rates can change with supply and demand on Blue, while Midnight lets lenders and borrowers agree to fixed rate upfront.
You receive the interest
Your lending position receives a return as interest accrues.
Is my money safe?
What are the risks?
Like any financial product, products built using Morpho involve risk.
Review the disclosures for the specific product you're using before depositing or borrowing.
This page is general information about how the Morpho protocols work. It isn't financial, legal or tax advice, and it isn't an offer or a recommendation of any asset, app or product. Mentioning an app here doesn't mean any Morpho entity endorses it.
Your agreement is with the provider of the app you use to access them, not with any Morpho entity. No Morpho entity is a party to that agreement or to your transactions. For more, see Morpho's Disclaimer.