# The Morpho Effect: May 2025 By [Morpho](https://paragraph.com/@morpho) · 2025-06-02 --- tl;dr 🔹 Morpho's vision refined: build an onchain system to price & settle _any_ loan 🔹 Morpho reached $1.4B in total deposits on base 🔹 Safe{Wallet} Earn, powered by Morpho 🔹 Polygon PoS now available on the Morpho App Highlight of the Month ---------------------- ### The Price of Trust & Morpho's Vision Morpho's co-founder and CEO Paul Frambot lays out the vision for Morpho's future: Build an onchain system to price and settle _any_ loan. This requires three key elements: 🔹 creating open & competitive markets 🔹 enabling the expression of different trust assumptions 🔹 minimizing infrastructure impact on these assumptions [![User Avatar](https://storage.googleapis.com/papyrus_images/4c7e795b7b36b050e21e4ae92cbd7ea94d0267e60472b54be54c0992b6140090.jpg)](https://twitter.com/PaulFrambot) [Paul Frambot 🦋](https://twitter.com/PaulFrambot) [@PaulFrambot](https://twitter.com/PaulFrambot) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/PaulFrambot/status/1924820920352244053) The Price of Trust - A new vision piece setting up the stage for Morpho’s future! ![👇](https://abs-0.twimg.com/emoji/v2/72x72/1f447.png) 1/12 [x.com/PaulFrambot/st…](https://t.co/0BNp5U8iQG) [![User Avatar](https://storage.googleapis.com/papyrus_images/4c7e795b7b36b050e21e4ae92cbd7ea94d0267e60472b54be54c0992b6140090.jpg)](https://twitter.com/PaulFrambot) [Paul Frambot 🦋](https://twitter.com/PaulFrambot) [@PaulFrambot](https://twitter.com/PaulFrambot) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/PaulFrambot/status/1924820674817716232) [x.com/i/article/1924…](https://t.co/AMdJ08NRcN) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 166](https://twitter.com/PaulFrambot/status/1924820920352244053)[ 8:34 AM • May 20, 2025 ](https://twitter.com/PaulFrambot/status/1924820920352244053) ### Institutional-Grade Yield, within the Safe{Wallet} App Safe{Wallet}, the leading multisig wallet for institutions and enterprises, now offers a native earn product that is exclusively powered by Morpho. [![User Avatar](https://storage.googleapis.com/papyrus_images/5c1d7bab69176b942910d3750e4884c21f17680c13027b7dec89f307f12bb6b5.jpg)](https://twitter.com/MorphoLabs) [Morpho 🦋](https://twitter.com/MorphoLabs) [@MorphoLabs](https://twitter.com/MorphoLabs) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/MorphoLabs/status/1925193216158318610) Enterprise-grade yield, right within Safe{Wallet} $50B+ worth of assets secured by [@safe](https://twitter.com/safe) can now start earning the best risk-adjusted yield onchain Powered by Morpho ![](https://pbs.twimg.com/amplify_video_thumb/1925193160394997760/img/zOGW3WoCPUJpB2Kb.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 100](https://twitter.com/MorphoLabs/status/1925193216158318610)[ 9:13 AM • May 21, 2025 ](https://twitter.com/MorphoLabs/status/1925193216158318610) ### Agglayer Vault Bridge, Powered by Morpho Morpho powers the Agglayer VaultBridge, where deposited assets earn yield through vaults curated by Steakhouse, Gauntlet, and other curators on Ethereum. [![User Avatar](https://storage.googleapis.com/papyrus_images/13ea179668a4fa36bc9419181f4bf7ffbb2024a5a2b13ce3b197b2c3500528ee.jpg)](https://twitter.com/Agglayer) [Agglayer](https://twitter.com/Agglayer) [@Agglayer](https://twitter.com/Agglayer) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/Agglayer/status/1920489030497489127) Meet VaultBridge: the latest software for EVM chains on Agglayer to enable a built-in, and sustainable, native revenue stream. Powered by [@MorphoLabs](https://twitter.com/MorphoLabs) Vaults, the protocol transforms idle bridged assets into productive capital. It’s free to use on Agglayer and ready to ![](https://storage.googleapis.com/papyrus_images/427f4b2aab4b18e2a5cb5dace45c8d5b1fe79901b99eaf78bef4fada754175b8.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 184](https://twitter.com/Agglayer/status/1920489030497489127)[ 9:40 AM • May 8, 2025 ](https://twitter.com/Agglayer/status/1920489030497489127) ### Based Morpho is now 1.4B Total Deposits Strong Morpho on Base has become the dominant lending protocol on Base, reaching over $1.4B in total deposits. ![](https://storage.googleapis.com/papyrus_images/f4772caff17c361e633ef0acd1720453672347224f3099304b2b87758b79052f.png) New on the Morpho App --------------------- ### Morpho App now supports Polygon PoS With $180M+ in total deposits since its deployment in March, Polygon PoS is now officially supported in the Morpho App. [![User Avatar](https://storage.googleapis.com/papyrus_images/5c1d7bab69176b942910d3750e4884c21f17680c13027b7dec89f307f12bb6b5.jpg)](https://twitter.com/MorphoLabs) [Morpho 🦋](https://twitter.com/MorphoLabs) [@MorphoLabs](https://twitter.com/MorphoLabs) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/MorphoLabs/status/1925899607029998031) Ethereum, Base, and now Polygon Earn and borrow on [@0xPolygon](https://twitter.com/0xPolygon) PoS via the Morpho App. ![](https://pbs.twimg.com/amplify_video_thumb/1925899543272378368/img/mop8hZvo2jHfengH.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 151](https://twitter.com/MorphoLabs/status/1925899607029998031)[ 8:00 AM • May 23, 2025 ](https://twitter.com/MorphoLabs/status/1925899607029998031) ### Morpho App Light Mode [![User Avatar](https://storage.googleapis.com/papyrus_images/5c1d7bab69176b942910d3750e4884c21f17680c13027b7dec89f307f12bb6b5.jpg)](https://twitter.com/MorphoLabs) [Morpho 🦋](https://twitter.com/MorphoLabs) [@MorphoLabs](https://twitter.com/MorphoLabs) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/MorphoLabs/status/1928421206489018729) Let there be light (mode) ![](https://pbs.twimg.com/amplify_video_thumb/1928421155205242880/img/DSNS2245_z_1ygZh.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 30](https://twitter.com/MorphoLabs/status/1928421206489018729)[ 7:00 AM • May 30, 2025 ](https://twitter.com/MorphoLabs/status/1928421206489018729) ### Vault and Market Pages Refined [![User Avatar](https://storage.googleapis.com/papyrus_images/5c1d7bab69176b942910d3750e4884c21f17680c13027b7dec89f307f12bb6b5.jpg)](https://twitter.com/MorphoLabs) [Morpho 🦋](https://twitter.com/MorphoLabs) [@MorphoLabs](https://twitter.com/MorphoLabs) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/MorphoLabs/status/1922668313177669690) More tabs, less scrolling Navigate Earn & Borrow pages with more purpose. ![](https://pbs.twimg.com/amplify_video_thumb/1922668259389960192/img/H3Nh5ng38nlLFl8G.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 86](https://twitter.com/MorphoLabs/status/1922668313177669690)[ 10:00 AM • May 14, 2025 ](https://twitter.com/MorphoLabs/status/1922668313177669690) What Do the Numbers Say? ------------------------ * [USDC supply on Morpho reaching all-time high](https://dune.com/morpho/morpho-usdc-incentivized-markets) ![](https://storage.googleapis.com/papyrus_images/91e8130341b8498605a8dd314760937819c4caed5469f6c56274aa635bec2a73.png) * The DeFi Mullet continues to grow. Coinbase crypto-backed loans have now [generated over $250M in active loans](https://dune.com/ryanyyi/coinbase-onchain-loans/b9fea3da-2d44-44b9-a314-9c13eba4b070). ![](https://storage.googleapis.com/papyrus_images/24db014d2effe3656ae27e15f430945a27ea5f939cb39db982e6b11d1fcefb7d.png) * Apollo ACRED leveraged strategy keeps growing on Morpho Polygon PoS [![User Avatar](https://storage.googleapis.com/papyrus_images/472cd344335906bb64e2d74bdea3ad0eae59c379b68b1f3e193165b88ab0c492.jpg)](https://twitter.com/tokenterminal) [Token Terminal 📊](https://twitter.com/tokenterminal) [@tokenterminal](https://twitter.com/tokenterminal) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/tokenterminal/status/1922077214117437604) Levered RWA strategy for ACRED: ![▪️](https://abs-0.twimg.com/emoji/v2/72x72/25aa.png) Private credit fund: [@apolloglobal](https://twitter.com/apolloglobal) ![▪️](https://abs-0.twimg.com/emoji/v2/72x72/25aa.png) Tokenized feeder fund: [@Securitize](https://twitter.com/Securitize) ![▪️](https://abs-0.twimg.com/emoji/v2/72x72/25aa.png) DeFi-optimized LP shares: Securitize ![▪️](https://abs-0.twimg.com/emoji/v2/72x72/25aa.png) Levered RWA strategy: [@gauntlet\_xyz](https://twitter.com/gauntlet_xyz) ![▪️](https://abs-0.twimg.com/emoji/v2/72x72/25aa.png) Lending & borrowing infra: [@MorphoLabs](https://twitter.com/MorphoLabs) ![▪️](https://abs-0.twimg.com/emoji/v2/72x72/25aa.png) Transport layer: [@0xPolygon](https://twitter.com/0xPolygon) ![](https://storage.googleapis.com/papyrus_images/f03e744d0a696efc6887927fdbc1ff5d8bb0083e7ef61790f58595dde55a7a15.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 105](https://twitter.com/tokenterminal/status/1922077214117437604)[ 6:51 PM • May 12, 2025 ](https://twitter.com/tokenterminal/status/1922077214117437604) * Deposits from Trust Wallet’s integration with Morpho now has $20M+ in TVL ![](https://storage.googleapis.com/papyrus_images/40a23c6d5f1944bdd0ba0f4b865af0830ae75c2f710e763f87e7373ed727953c.png) * [Curators are a category of their own](https://defillama.com/protocols/risk-curators). 9 out the top 10 curators on DeFillama are curators on Morpho. ![](https://storage.googleapis.com/papyrus_images/29c37a8199be06f1fcd7c12aefc41419f51bb37ee8e29f1581f3eb23c0c1ecf7.png) * [Morpho is powering Felix and Hyperbeat's growth on HyperEVM, with total deposits powered by Hyper Morpho approaching $150M](https://defillama.com/protocols/Lending/Hyperliquid%20L1) ![](https://storage.googleapis.com/papyrus_images/ddd8f9cd72bd27760fe721ab690dda1861fed8ed00eb5613a2eea515745041b0.png) Ecosystem Updates ----------------- * [LevelUSD now generates yields from Morpho Vaults curated by Steakhouse](https://x.com/levelusd/status/1924819306271146277)—learn [why the LevelUSD team is bullish on Morpho](https://x.com/levelusd/status/1921168239377223724) * Morpho has launched on [Flame](https://x.com/MorphoLabs/status/1920146653937606778), [Camp](https://x.com/MorphoLabs/status/1920811024963563872), and [Plume](https://x.com/MorphoLabs/status/1927802697132208196) * OP and WELL incentives are now live for the [OP Mainnet USDC Vault](https://x.com/MorphoLabs/status/1922631810476884419) on Moonwell * DeFi-native platforms now feature Earn options powered by Morpho * [![User Avatar](https://storage.googleapis.com/papyrus_images/5c1d7bab69176b942910d3750e4884c21f17680c13027b7dec89f307f12bb6b5.jpg)](https://twitter.com/MorphoLabs) [Morpho 🦋](https://twitter.com/MorphoLabs) [@MorphoLabs](https://twitter.com/MorphoLabs) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/MorphoLabs/status/1927713254731632893) Rebind in the front Morpho in the back [![User Avatar](https://storage.googleapis.com/papyrus_images/940123ecf7baa579cefb1777742b349fa2fa90dc10d03de27b24297c4d45e582.jpg)](https://twitter.com/getrebind) [Rebind](https://twitter.com/getrebind) [@getrebind](https://twitter.com/getrebind) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/getrebind/status/1927711796887957998) Sometimes the best yield isn’t in new tokens - it’s in optimizing what already exists. Say hello to lending powered by @morpholabs. ![👇](https://abs-0.twimg.com/emoji/v2/72x72/1f447.png) ![](https://pbs.twimg.com/ext_tw_video_thumb/1927711762733826048/pu/img/hv53sztbY16BbHbg.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 66](https://twitter.com/MorphoLabs/status/1927713254731632893)[ 8:07 AM • May 28, 2025 ](https://twitter.com/MorphoLabs/status/1927713254731632893) * [![User Avatar](https://storage.googleapis.com/papyrus_images/5c1d7bab69176b942910d3750e4884c21f17680c13027b7dec89f307f12bb6b5.jpg)](https://twitter.com/MorphoLabs) [Morpho 🦋](https://twitter.com/MorphoLabs) [@MorphoLabs](https://twitter.com/MorphoLabs) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/MorphoLabs/status/1927698985315074245) Inifini Earn in the front Morpho in the back [![User Avatar](https://storage.googleapis.com/papyrus_images/2b8e1b1506603db81cdca3cc0e588e411d9ce739f8969909c9f07856b81a6def.jpg)](https://twitter.com/0xinfini) [Infini](https://twitter.com/0xinfini) [@0xinfini](https://twitter.com/0xinfini) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/0xinfini/status/1927698625829945815) Infini Earn is building a DeFi native yield layer. Deposit your stablecoins, and they’re deployed directly into real, yield-generating DeFi strategies. Infini Earn is powered by Morpho. @Morpholabs isn’t a lending app. It’s infrastructure — an immutable, modular, permissionless ![](https://storage.googleapis.com/papyrus_images/935fec33f66bef9627024ef0a7f4f421f9d067b841e2a7d5a995b3e2817ea0a6.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 26](https://twitter.com/MorphoLabs/status/1927698985315074245)[ 7:10 AM • May 28, 2025 ](https://twitter.com/MorphoLabs/status/1927698985315074245) * [![User Avatar](https://storage.googleapis.com/papyrus_images/3005c34827d54ae7361c8bfa37947a68119d6bee36042bb698ae39a6084ccabc.jpg)](https://twitter.com/carlosecgomes) [Carlos](https://twitter.com/carlosecgomes) [@carlosecgomes](https://twitter.com/carlosecgomes) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/carlosecgomes/status/1922727923909312638) new on tab: Earn powered by [@MorphoLabs](https://twitter.com/MorphoLabs) ![🦋](https://abs-0.twimg.com/emoji/v2/72x72/1f98b.png) Put your USDC to work and spend the yield across [@farcaster\_xyz](https://twitter.com/farcaster_xyz) mini apps. Already earning with Morpho? Manage your yield directly in Tab. Composability from day one (link below) ![👇](https://abs-0.twimg.com/emoji/v2/72x72/1f447.png) ![](https://pbs.twimg.com/amplify_video_thumb/1922727742681796608/img/qd02TaVE_lxZzLRZ.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 25](https://twitter.com/carlosecgomes/status/1922727923909312638)[ 1:57 PM • May 14, 2025 ](https://twitter.com/carlosecgomes/status/1922727923909312638) * [![User Avatar](https://storage.googleapis.com/papyrus_images/5c1d7bab69176b942910d3750e4884c21f17680c13027b7dec89f307f12bb6b5.jpg)](https://twitter.com/MorphoLabs) [Morpho 🦋](https://twitter.com/MorphoLabs) [@MorphoLabs](https://twitter.com/MorphoLabs) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/MorphoLabs/status/1925919079191232732) Earn privately Powered by Morpho [![User Avatar](https://storage.googleapis.com/papyrus_images/4809356e3d642ae74af014302177c0bb495c2d299bfc5dfe82ea966994e3c8d9.jpg)](https://twitter.com/fluidkey) [fluidkey.eth](https://twitter.com/fluidkey) [@fluidkey](https://twitter.com/fluidkey) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/fluidkey/status/1925918408563982671) You can now receive Euro and USD transfers directly onchain and start earning immediately with Fluidkey 1:1 fiat to stable conversion and dedicated IBAN & ACH powered by [@Stablecoin](https://twitter.com/Stablecoin) + yield on [@Base](https://twitter.com/Base) powered by [@MorphoLabs](https://twitter.com/MorphoLabs) ![🦋](https://abs-0.twimg.com/emoji/v2/72x72/1f98b.png) ![](https://storage.googleapis.com/papyrus_images/05c9039016a2f1488686fb1e3dc9493c1c1d49e8e81edb43e0991dcf7996540c.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 45](https://twitter.com/MorphoLabs/status/1925919079191232732)[ 9:17 AM • May 23, 2025 ](https://twitter.com/MorphoLabs/status/1925919079191232732) * [![User Avatar](https://storage.googleapis.com/papyrus_images/02229c9c23d1066c53dd580a11d9b9266d267ede49d75aacc33ff4c627736df2.jpg)](https://twitter.com/yearnfi) [yearn](https://twitter.com/yearnfi) [@yearnfi](https://twitter.com/yearnfi) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/yearnfi/status/1924811613460447296) There is a new Bunny in town and we mean business. Yearn now offers best in class market curation on [@MorphoLabs](https://twitter.com/MorphoLabs). Let us optimize your market exposure across a wide range of Morpho lending products. ![](https://storage.googleapis.com/papyrus_images/9366f1e44ee0ef2e354398a9857cc50079c76e5eed02e517640fd7ef6fc0719e.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 92](https://twitter.com/yearnfi/status/1924811613460447296)[ 7:57 AM • May 20, 2025 ](https://twitter.com/yearnfi/status/1924811613460447296) * [![User Avatar](https://storage.googleapis.com/papyrus_images/9035503c3cac764a7b02a7ea190d1a67d4c25261a21630224f6ba8803021fe50.jpg)](https://twitter.com/BackedFi) [Backed](https://twitter.com/BackedFi) [@BackedFi](https://twitter.com/BackedFi) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/BackedFi/status/1927784108958306487) Borrowing against stocks has always been a challenge. DeFi enabled Tokenized stocks change this. $wbCOIN is now live on [@MorphoLabs](https://twitter.com/MorphoLabs) ![🦋](https://abs-0.twimg.com/emoji/v2/72x72/1f98b.png) ![▪](https://abs-0.twimg.com/emoji/v2/72x72/25aa.png) Access the wbCOIN/USDC market ![▪](https://abs-0.twimg.com/emoji/v2/72x72/25aa.png) Borrow [@USDC](https://twitter.com/USDC) against $wbCOIN at 86% LTV ![▪](https://abs-0.twimg.com/emoji/v2/72x72/25aa.png) Available on [@base](https://twitter.com/base) and curated by [@Re7Labs](https://twitter.com/Re7Labs) ![](https://pbs.twimg.com/amplify_video_thumb/1927784053480296448/img/KVhUscXpfwxAofjP.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 184](https://twitter.com/BackedFi/status/1927784108958306487)[ 12:48 PM • May 28, 2025 ](https://twitter.com/BackedFi/status/1927784108958306487) * Index Coop expands its Morpho-powered offerings with [Smart Loops](https://x.com/indexcoop/status/1919777504908181725) and [uSUL & uSOL levered strategies](https://x.com/MorphoLabs/status/1923037667702284489) * [![User Avatar](https://storage.googleapis.com/papyrus_images/74336c23d249de86aba1967d1bc80ea442b1ed3d97f5f7f1ff887fdb867e54f9.jpg)](https://twitter.com/BrahmaFi) [Brahma](https://twitter.com/BrahmaFi) [@BrahmaFi](https://twitter.com/BrahmaFi) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/BrahmaFi/status/1927741012400812479) We're now live with the [@MorphoLabs](https://twitter.com/MorphoLabs) Agent V2, powered by Brahma. Smarter, Flexible and Hands-off. What’s new in V2: \- Auto-claims rewards during rebalances and exits \- Filter vaults by APY, liquidity, and curator. \- Auto-selects the best vaults based on filters and more! ![](https://storage.googleapis.com/papyrus_images/bc80219b9db3478cd5ba6696c7c50bd16a9451e99e8332342c62745056f2f78d.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 200](https://twitter.com/BrahmaFi/status/1927741012400812479)[ 9:57 AM • May 28, 2025 ](https://twitter.com/BrahmaFi/status/1927741012400812479) --- *Originally published on [Morpho](https://paragraph.com/@morpho/the-morpho-effect-may-2025)*