morpho

On November 6, the decentralized over-collateralized stablecoin USDD recently released its monthly transparency report for October 2026. The report shows that as of October 31, the circulation of USDD was approximately 1.5 billion, with reserve assets reaching 2.21 billion USD and a collateralization rate maintained at 146.99%.In October, the average daily minting volume of USDD increased by 10.5% month-on-month. During the period from October 12 to 19, the market capitalization of USDD grew by 180.3 million USD, leading the stablecoin market. On October 12, the circulation of USDD once exceeded 1.81 billion USD, and the Total Value Locked (TVL) surpassed 2.51 billion USD, both setting historical highs.In terms of revenue and ecological development, the investment return of USDD Smart Allocator in October increased by 8.5% month-on-month, with the average daily capital deployment scale growing by 15%. By the end of the month, the cumulative revenue reached 33.59 million USD. Meanwhile, the TVL of USDD Earn on the BNB Chain increased by 62.9% month-on-month. USDD continues to deepen cooperation with platforms such as Binance Wallet, Gate DEX, Morpho, and Pendle, further expanding DeFi revenue scenarios.In addition, the treasury data disclosed by USDD for the third quarter of 2026 shows that the treasury surplus increased by 27.1% month-on-month, and the treasury balance exceeded 30 million USD for the first time. USDD stated that it will continue to promote ecological construction around the two core scenarios of earning and transferring, and will continuously enhance asset transparency through public reserve addresses and on-chain data dashboards.

DeFi risk management organization Gauntlet has closed the supply queue of its V1 vault, suspended asset allocation, and reduced exposure to LayerZero cross-chain bridge assets following the report of an op-reth vulnerability on certain OP Stack chains. Gauntlet stated that, to its knowledge, there have been no reports of the vulnerability being exploited.The report indicated that clearing the supply queue will prevent new deposits into the vault, but this measure will not close the withdrawal function or the underlying lending market; withdrawals will still depend on the liquidity available in the underlying market. Gauntlet stated that the relevant measures will remain in place until the issue is resolved, but did not provide a specific recovery timeline.Gauntlet is a risk curator for DeFi lending protocols, providing risk management services for vaults on protocols like Morpho, responsible for setting collateral parameters, supply caps, and asset allocation strategies. This adjustment involves its V1 vault operating on the relevant chains.

Real estate tokenization platform GromaCorp announced the launch of GromaCoin (GRO) on Uniswap v4, which is the first permissioned asset on Uniswap's automated market maker. GRO is paired with USDC, allowing verified investors to buy, sell, issue, and redeem on-chain at net asset value. GRO is an ERC-3643 security token issued on the Base network, with KYC and investor qualification rules embedded at the token level to prevent transfers to unapproved wallets.Each GRO represents a fractional ownership in the Groma Real Estate Trust, which is a regulated real estate investment trust (REIT) in the United States, focusing on multi-family residential properties, with assets primarily located in the Greater Boston and Providence areas. The trust's total asset value is nearly $95 million, with each GromaCoin having a net asset value of $1.07, and the portfolio includes over 125 to 150 income-generating properties, paying dividends quarterly, with a current yield of approximately 3.74%.Uniswap launched the Permissioned Pools framework on July 23, 2026, allowing asset issuers to operate managed whitelists and conduct compliance checks on-chain, with unverified wallets unable to participate in trading. GromaCoin is the first asset to adopt this framework and is currently only available to accredited investors. Groma has also partnered with Birch Hill and Morpho to allow holders to borrow USDC using GRO as collateral, with an initial supply cap of $5 million for this lending setup.

According to monitoring by Lookonchain, a newly created wallet withdrew 521,501 UNI (3.69 million USD), 915,747 MORPHO (1.95 million USD), and 10 million ARB (1.54 million USD) from Bybit.

Arbitrum stated that the lending lock-up amount of USDG on Morpho reached approximately 143 million dollars in less than a month.

On-chain lending company Birch Hill announced on its official account the appointment of Jonathan Thomas as the head of curation. Brad Schlagel, Alex Cornwell, and Ian Plosker joined from the on-chain treasury platform Yearn, responsible for the on-chain lending strategy Birch Hill Absolute Value, while Traver Normandi joined from the on-chain lending risk management company Gauntlet, responsible for business development.According to Birch Hill's announcement, Schlagel previously led the development of Yearn v3 and is currently the portfolio manager and head of strategy architecture; Plosker is the portfolio manager and head of platform engineering; Cornwell was previously responsible for Yearn's business development and is now the head of capital formation. Thomas has worked with the Yearn team on strategies based on the Yearn v3 treasury standard and is now responsible for treasury curation. Normandi previously worked at Gauntlet in institutional business development.Birch Hill is a financial services company headquartered in New York that evaluates, builds, and distributes credit on public chains, and serves as the official curator for the lending protocol Morpho. The company announced on October 28 that it has completed a $4 million seed round of financing, led by Multicoin Capital, with participation from ParaFi Capital, Castle Island Ventures, and Nascent, bringing total funding to $6.5 million. The company stated in a follow-up post that it will further introduce tokenized credit securities oABS and Birch Hill Absolute Value.

According to Cointelegraph, the French Senate has passed a bill authorizing the tax authorities to automatically exchange cryptocurrency transaction data with tax authorities in other countries. The bill completed its first reading on Tuesday and has been submitted to the National Assembly as Bill No. 3421 for review. The bill covers a cryptocurrency tax information exchange agreement and updates to the existing financial account information agreement, with the entire legislative process still needing to be completed.The cryptocurrency information exchange agreement is based on the Cryptocurrency Asset Reporting Framework (CARF) established by the Organization for Economic Cooperation and Development, setting common standards for participating jurisdictions to collect and automatically exchange cryptocurrency transaction information. France has introduced a cryptocurrency reporting obligation through the 2025 Finance Law, implementing the cryptocurrency reporting amendment in the EU Administrative Cooperation Directive DAC8, which requires cryptocurrency service providers to report customer identities and transaction data to tax authorities, who will then share this information with the tax authorities in the EU countries where the users are located.French lawmakers are also discussing adjustments to cryptocurrency taxation in the 2027 budget. The National Assembly passed an amendment on October 16, proposing to tax gains converted to partially pegged fiat stablecoins starting January 1, 2027; this measure has not yet become law, with a related vote scheduled for November 3.Faustine Fleuret, Global Head of Public Affairs at the lending protocol Morpho, stated that tax reporting under DAC8 involves sharing personal information such as names, addresses, tax numbers, and transaction volumes, raising data security concerns; the European Commission plans to establish a central repository for cryptocurrency reporting by the end of 2026. She also mentioned that in France, where cryptocurrency holders have been subject to personal attacks, the leakage of trader lists is primarily a security issue. CertiK data shows that out of 52 verified personal attack incidents globally in the first half of 2026, France accounted for 33.

According to The Defiant, Robinhood announced that its Earn feature is now available to all eligible users, allowing users to participate in on-chain USDG lending. The funds deposited by users will go into the Morpho vault curated by Steakhouse on the Robinhood Chain.The rewards earned will be used to supplement lending interest, and withdrawals will depend on the liquidity status of the vault. This feature is available to all eligible users, who can earn income through on-chain lending.

Mexican cryptocurrency exchange Bitso announced the launch of a product called Bóvedas, which brings the lending functionality of the decentralized lending protocol Morpho into its app.This product allows users to deposit USDC and the stablecoin MXNB, which is pegged to the Mexican peso, into non-custodial lending vaults, enabling users to earn floating returns, while the product does not provide deposit insurance.

The decentralized lending protocol Morpho has incorporated stock tokens issued by Robinhood into its stablecoin lending market, allowing users to collateralize these tokens to borrow stablecoins.According to the disclosure, the first markets launched include NVDA and SPCX, both with a liquidation threshold of 62.5%; the liquidation threshold for SPY is 77%. The borrowing asset for the aforementioned markets is the stablecoin USDG.

Ledger Wallet officially launches the Crypto Loan feature, allowing users to directly use the Morpho open credit network for lending operations within the Ledger Wallet. The core of this feature is that users can use Wrapped Bitcoin (wBTC) or cbBTC as collateral to borrow stablecoins such as USDC or USDT without selling their assets.This integration brings hardware-level security standards into the DeFi lending space. All lending activities are physically confirmed through Ledger Signer, ensuring that every on-chain interaction from deposit to loan has clear signatures and hardware-level security guarantees. During the lending process, users' collateral remains in Morpho's smart contracts, with Ledger acting solely as a technology provider.Morpho is an open credit network running on Ethereum and major Layer 2s, providing flexible lending markets through infrastructures like Morpho Blue and Morpho Midnight. This feature supports operations such as adding collateral, repaying, increasing loan limits, and withdrawals. It is important to note that this service uses floating interest rates and carries liquidation risks, and users should pay attention to the specific supported countries and lending terms.

The lending protocol Lido Lend proposed by contributors will launch a withdrawal mechanism called Fallback Exits. When the market lacks sufficient liquidity of loan assets, lenders can utilize the collateral of borrowers to supplement withdrawal requests, and the corresponding debt of the relevant borrowers will be reduced. The protocol was launched on October 7 as a modified fork of Morpho Blue, built around isolated markets.According to the proposal, the collateral of borrowers will be passively utilized in order of the highest position risk, meaning positions closest to the liquidation loan-to-value ratio (LLTV) will be prioritized, while borrowers with very healthy positions are less likely to be affected. Taking the ETH/wstETH market as an example, lenders provide ETH, and borrowers stake wstETH to borrow ETH; if exiting through collateral, lenders will first be exposed to the staked tokens before receiving ETH. The proposal does not specify the qualification thresholds for healthy loans or the path for lenders to obtain ETH.Contributor Izzy stated in a post on October 16 that technical specifications and market parameters will be announced in the next two weeks, and the governance process and public audit must be completed before the mainnet launch. Details such as settlement valuation, debt offset formulas, fees, and limits have yet to be determined.

On October 19, the team from the fully homomorphic encryption company Zama announced that users participating in the incentive distribution platform Merkl on the Zama confidential vault can now directly receive cZAMA rewards in the Zama app. The rewards are settled through confidential transfers, and both the positions and the reward amounts remain confidential from deposit to distribution.In September 2026, Zama launched confidential access to 16 selected vaults on the lending protocol Morpho and initiated the first batch of confidential incentives with Merkl, where rewards are calculated based on encrypted balances. When depositing into eligible vaults, users can activate additional incentive options, granting viewing permissions for Merkl to read encrypted balances to calculate rewards without disclosing personal positions. This permission is enabled by default on the deposit interface, and deposits not shared with Merkl do not qualify for incentives.Confidential vaults accumulate based on the user's confidential vault shares and can be claimed during the ongoing activity; existing public vaults with confidential access have rewards collectively obtained by the vault packaging contracts, which are distributed after the activity ends. Zama recommends claiming confidential activities at the end to reduce multiple on-chain fees. Taking the Flowdesk Confidential High Yield USDT vault on Morpho as an example, the related activity ended on October 12, and eligible depositors can now claim their rewards. Users need to check their earnings in Merkl using their wallet and complete the claim in the Zama app by connecting the same wallet; the amount received will not be publicly disclosed on-chain.

According to The Defiant, the OUSD lending vault under Sentora holds $42.5 million in assets on the Tempo network. This vault is built on the Morpho protocol, allowing users to borrow against cbBTC as collateral.Despite the considerable size of the vault, the report points out that the vast majority of its assets are currently idle and have not been deployed into actual lending operations. This means that the vault's capital utilization rate is low and its lending functionality has not been fully realized.

The outstanding balance of Coinbase's crypto asset collateralized loans has reached $2.3 billion, with the product launching in January 2025. Eligible users outside of New York State can stake Bitcoin to borrow USDC without selling their holdings, with loans routed through the Morpho decentralized lending protocol on the Base network.Coinbase has added fixed-rate loans through Morpho Midnight, expanding the stakable assets to XRP, DOGE, ADA, and LTC; as of mid-September 2026, the scale of floating-rate loans has exceeded $1.4 billion, supported by approximately $3 billion in collateral. JPMD tokenized deposits from JPMorgan Chase have been operating on Base for institutions since mid-2026, while Citigroup and BNY Mellon are also advancing related layouts, and several UK banks plan to launch related networks in 2027.

Binance Wallet announces the launch of the DeFi API. This interface is based on its Web3 API infrastructure, allowing developers to integrate DeFi capabilities without connecting to each protocol individually, initially supporting 10 EVM chains including BSC, Ethereum, Base, and Robinhood Chain.The interface covers protocols such as Aave, Morpho, and Uniswap, supporting the discovery of DeFi products, tracking positions, obtaining protocol insights, and building trades. It also allows for the creation of trades to add liquidity to supported bStocks liquidity pools. Solana support is coming soon.

Unified Account Protocol Clovis announced that the private mainnet is now live. Clovis integrates revenue, cross-chain assets, and collateralized lending into a single unified account, allowing users to deposit assets on supported chains and transfer assets between chains.According to the official statement, users can use eligible positions to natively borrow assets in the market built on Morpho on Base.

According to Morpho's official blog, Morpho announced the appointment of former Coinbase institutional business executive Brian Foster as Head of GTM.Foster worked at Coinbase for over seven years, leading strategic collaborations with BlackRock and U.S. federal government business, covering multiple areas including ETFs, trading as a service, and stablecoin payments.After joining Morpho, Foster will focus on promoting the adoption of on-chain credit products in fintech companies and traditional financial institutions.

Sherwood Protocol published an introduction to its agent fund platform on the X platform. On this platform, agents can express strategies as on-chain operations, including configuring tokenized stocks through Uniswap, providing funding to earn yields through lending protocols like Morpho, opening perpetual contract positions on Lighter.xyz, and issuing tokens through SushiSwap to publicly list the fund.The platform can work with commonly used agents like bot and Muse, allowing users to describe market views in natural language for agents to execute. Sherwood states that its goal is to provide a capital layer for agents to publicly validate strategies, with all strategies being transparent and auditable. Currently, only whitelisted wallets are allowed to create funds, and only fund owners can propose strategies, with deposits limited to their own treasury. The first batch of fund creators will join next week. Users can apply for early access through a waiting list.