{
  "url": "https://blockindex.ai/coin/morpho",
  "name": "Morpho",
  "links": {
    "github": "https://github.com/morpho-org/morpho-blue/blob/main/src/Morpho.sol",
    "website": "https://morpho.org/",
    "whitepaper": null
  },
  "dScore": 31,
  "market": {
    "priceUsd": 1.9486467069559525,
    "marketCapUsd": 979210775.0261737,
    "volume24hUsd": 19517672.24231014,
    "priceChange7dPct": -1.69663269,
    "priceChange24hPct": -0.90432864
  },
  "source": "BlockIndex.AI",
  "supply": {
    "max": 1000000000,
    "circulating": 502508110.6445572,
    "circulatingPct": 50.25081106445571
  },
  "ticker": "MORPHO",
  "founder": "Not specified",
  "vcFunded": false,
  "updatedAt": "2026-06-19T06:00:32.772754+00:00",
  "fairLaunch": false,
  "launchYear": null,
  "description": "Morpho is a permissionless lending and borrowing infrastructure designed to optimize yields for suppliers and improve borrowing conditions for users and enterprises. As an on-chain protocol, Morpho exposes composable lending primitives and curated vaults that integrate with common DeFi rails to achieve better interest-rate capture for suppliers and more competitive borrow rates. The project emphasizes gas efficiency, composability, and enterprise integrations, and positions itself as a production-grade lending layer that can be embedded by third parties and institutions. Morpho operates as both a protocol-layer product and a tradable governance/utility token (MORPHO), with its core smart contracts published on-chain and a public codebase available to auditors and developers.\n\nFrom a technical perspective, Morpho’s codebase (Morpho V1) implements permissionless market creation, supply/borrow share accounting, on-chain interest accrual, modular interest-rate model interfaces, and oracle integrations for price feeds. The team has prioritized security and formal verification; the inputs reference multiple third-party audits and Certora formal verification efforts. Morpho is implemented as Ethereum smart contracts (Solidity) and leverages standard ERC-20 token design for its governance/utility token. The protocol’s architecture focuses on composability with existing AMMs and liquidity venues such as Uniswap V3 and on-chain lending markets, enabling integration with third-party tooling and enterprise systems.\n\nIn terms of use cases and adoption, Morpho functions primarily as a lending marketplace optimizer: suppliers can capture more of available interest by routing liquidity through Morpho’s matching layer, while borrowers obtain access to competitive rates with flexible borrowing conditions. The project has material TVL across multiple chains (notably Ethereum and Base in the inputs) and maintains liquidity on both decentralized (Uniswap, Curve) and centralized venues. DefiLlama and CoinMarketCap track Morpho’s TVL and market figures, and the protocol has a substantial on-chain holder base and observable activity in pools and liquidity positions.\n\nTokenomics are straightforward in the presented inputs: MORPHO has a fixed max supply of 1,000,000,000 tokens, with a circulating supply reported at ~375,025,431 (≈37.50%). Market snapshots in the inputs record price and market-cap metrics, including an all-time high of $4.17 (Jan 17, 2025) and all-time low snapshots in the dataset. The inputs do not include a detailed emission schedule or explicit premine/PIP allocations; distribution specifics such as premine percentage and pre-issued percentage were not documented in the provided materials. Governance is described as “governance-minimized” in the inputs, with immutable core contracts referenced; no explicit on-chain DAO mechanics or token-voting processes were described in the supplied files.\n\nDevelopment activity is evidenced by the public GitHub repository and the presence of audited smart contracts, but the inputs do not include a dated upgrade roadmap or explicit governance milestones. The project highlights enterprise integration and formal-verification-oriented development practices as forward-looking priorities. Overall, Morpho presents as a mature DeFi lending protocol with meaningful TVL, multi-chain presence, and an ERC-20 governance token, supported by on-chain contract visibility and multiple industry-standard audits.",
  "methodology": "https://blockindex.ai/dscore",
  "classification": {
    "layer": "Layer 1",
    "isToken": true,
    "consensus": "PoS",
    "parentChain": "ETH"
  },
  "dScoreComponents": {
    "autonomy": 5,
    "ageHistory": 5,
    "governance": 21,
    "nodeDistribution": 0,
    "initialDistribution": 0
  },
  "decentralizationVerdict": "Centralized Leaning"
}