morpho

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.

Lido announced the launch of the lending protocol Lido Lend, which is built on a modified fork of Morpho Blue and is planned to go live in the fourth quarter of 2026. Lido stated that the platform is aimed at long-term passive investors, with the goal of enhancing returns while controlling risks. Lido is a decentralized liquid staking protocol on Ethereum that issues stETH.Lido Lend has three core designs: first, an isolated market structure where each lending market operates independently, so issues in a single market do not affect others; second, a deposit screening mechanism to prevent bad collateral and funds that have been hacked from entering the system; third, a reliable lender exit mechanism, allowing lenders to smoothly redeem their funds even when the market reaches full utilization.The market will focus on low-volatility blue-chip asset trading pairs, such as stETH/ETH. The protocol is intended to be governed by Lido DAO, but the relevant governance arrangements have not yet been finalized and will await future DAO votes. Morpho Blue was launched in 2024, supporting users in creating isolated markets with specific collateral and lending parameters through a simple, immutable framework.

Ledger launched its self-custody lending feature Crypto Loan at the TOKEN2049 conference in Singapore, allowing eligible users to collateralize wrapped Bitcoin cbBTC or wBTC in the Ledger Wallet to borrow stablecoins USDC or USDT, without needing to transfer funds to a centralized lending platform or sell their holdings. Users can open and manage loans directly within the wallet, track loan-to-value ratios, add collateral, make repayments, or increase borrowing, with key operations requiring physical confirmation on the Ledger signing device before execution.This feature is supported by the decentralized credit network Morpho, with technology provided by Yield.xyz, which is also the supplier of Coinbase's Bitcoin collateralized loans. Ledger also announced that its signing devices can directly connect to Morpho without the need for a browser plugin or software wallet. Morpho co-founder Paul Frambot stated that this integration creates a "powerful liquidity flywheel," where stablecoins deposited through Ledger's existing Earn products can fund current loans for Bitcoin holders.This move pushes Ledger, known for its hardware wallets, further into the financial services sector. Coinbase recently launched fixed-rate Bitcoin collateralized loans after expanding to UK users, and JPMorgan is also exploring Bitcoin and Ethereum collateralized lending. Ledger claims to have protected nearly 30% of the Bitcoin held by retail investors. Crypto Loan has begun to gradually open to eligible users, with availability expanding over time.

Ethena disclosed in the official September review that the USDe supply increased by over 700 million dollars in September, making it the second largest collateral asset on the Morpho platform and the largest dollar-denominated collateral asset, supporting two of the three major markets of the protocol.

A post published by the official X account of the decentralized lending protocol Morpho stated that most curator businesses cannot sustain their operations solely through treasury fees, and their business model actually relies on private distribution agreements. The post has since been deleted.In response to this matter, Aave founder Stani Kulechov stated that this is the most pessimistic statement for MORPHO holders. Morpho CEO Paul Frambot responded that the post was published by a third-party artificial intelligence marketing tool.Morpho is a decentralized lending protocol operating on networks such as Ethereum, matching borrowers and lenders through a treasury and curator mechanism while managing funds. The curator business refers to a model where third-party institutions create and manage treasuries based on the Morpho protocol and generate income from related fees.

The founder of Morpho, Paul Frambot, proposed a classification scheme suggesting that on-chain vaults be divided into "noncustodial" and "discretionary" categories to clearly define their nature to regulatory authorities.This proposal was immediately opposed by Aave founder Stani Kulechov, who called the classification "self-serving." Several vault developers also raised concerns, arguing that the timelock mechanism does not truly eliminate the role of the manager.

Coinbase has launched fixed-rate loans supported by the decentralized lending protocol Morpho, allowing users to collateralize Bitcoin to borrow USDC, locking in the interest rate and repayment date at the start of the loan. This product marks the first enterprise-level deployment of Morpho Midnight, with Coinbase responsible for the application experience, Morpho providing the credit infrastructure, and the Base network handling settlement.The existing active scale of Coinbase's Morpho floating-rate loans has exceeded 1.4 billion dollars, corresponding to collateral of about 3 billion dollars. This business will launch Bitcoin collateralized lending in early 2025, with plans to expand collateral to assets such as XRP and Dogecoin.

According to The Block, Coinbase announced the launch of fixed-rate Bitcoin collateralized loans through Morpho Midnight, allowing users to borrow USDC and determine the interest rate and repayment date at the time of borrowing. This new option is alongside Coinbase's existing floating-rate loans (based on Morpho Blue), which have outstanding loans exceeding $1.4 billion, corresponding to collateral of approximately $3 billion.Morpho launched Midnight on Base in July, introducing fixed rates and clear loan terms for on-chain lending. A Morpho spokesperson stated that Coinbase is the first mainstream consumer platform to offer Midnight loans on a large scale; since Midnight's launch, deposits have reached approximately $30 million. The outstanding loans for Morpho Blue across all integrations amount to $5.2 billion, with deposits reaching $16 billion.A Coinbase spokesperson did not disclose specific interest rates, stating that rates are determined by the supply and demand of both parties on the on-chain order book. Currently, Coinbase offers loans that mature at the end of the month or the end of the following month, and borrowers must repay before the due date; otherwise, lenders have the right to liquidate their collateral. Jacob Frantz, Coinbase's head of revenue and investment products, stated that Coinbase Borrow allows users to obtain liquidity without selling assets, and fixed-rate borrowing gives users greater choice in credit management. Morpho indicated that Midnight could also be used in the future to build structured credit products and loans collateralized by tokenized real-world assets, with more integrations in progress.