Morpho is becoming the credit stack for institutions.

What started as a yield optimizer has become the base layer other lenders build on. Morpho v2 keeps the core immutable and permissionless while adding key features for institutions to operate onchain. Apollo is acquiring up to 9% of Morpho's supply over four years.

Morpho Midnight brings fixed rates and fixed terms to onchain lending. Borrower and lender intents match offchain and settle onchain as zero-coupon bonds, which opens up a real secondary market for the loans themselves. DeFi has never been able to pull this off at scale.

Fixed rates are the foundation every mature credit market is built on. Pool-based lending can't deliver them because rates only adjust once utilization has already moved. Midnight gives DeFi a real yield curve that institutions can build on.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。