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On November 21st, Morpho’s $MORPHO token finally became transferable and available for delegation. The next step towards the growth of on-chain governance and trading, Morpho CEO Paul Frambot considers it a stepping stone on the way to change finance.
How can you make good use of MORPHO? Read more to find out:
For starters, Morpho is a DeFi lending protocol allowing users to create and lend in flexible Morpho Vaults with automated risk management, curated to different risk profiles and noncustodial time mechanisms.
Basically, each Morpho Vault suits a different profile. Instead of a lending pool where you’re exposed to all available assets, these profiles all offer exposure to different sets of assets. People who are risk-hungry can choose to lend in vaults with heavy exposure for high payouts, while the more careful folks can lend in peace in Vaults with minimal risk.
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As for the noncustodial time mechanisms, these are known on Morpho as Timelocks. Timelocks are delays that are applied before a Vault is updated in a way that’ll significantly change its risk level, like the increase of a supply cap. They can last anywhere from 24 hours to 2 weeks, and give users the opportunity to take back their funds in case their vaults turn into something they’d rather not put funds in.
These two features guarantee a flexible and curated experience for all Morpho users.
Now that MORPHO can be traded and delegated, how do you use it?
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First, delegating is easy. This lets you supply your MORPHO tokens to individuals that are a lot more savvy about the ins-and-outs of Morpho and governance in general, while you still retain the tokens.
Tl;dr, choose representatives that align with your interests so they vote for you, saving you time while still participating in governance and keeping your tokens!
Of course, users who want to participate in governance directly can do it: this is simply an inbetween for the governance-curious and the busy bees.
Historically MORPHO has been usable in its vaults, but now several exchanges allow the trading of MORPHO in spot and perp futures, including but not limited to Kraken, OKX and Binance.
On top of this, it’s got further opportunities on protocols like Beefy, where it can be autocompounded for bigger rewards!
What now?
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With Morpho recently going from $2B’s worth of deposits to $3B in a month when its first billion took three months, it’s undeniable that Morpho’s growth is accelerating to a point where it’s becoming one of DeFi’s biggest protocols.
It currently ranks in 15th position on Defillama’s protocol rankings, and it’ll surely rank even higher as the newly tradeable MORPHO circulates the DeFi ecosystem more widely.
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