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The Brief

What Morpho is

Composed · as of Sep 3, 2026in graph since Sep 3, 2026

Morpho is a non-custodial lending protocol for onchain credit, deployed on Ethereum and Base. It lets lenders and borrowers meet in narrowly-defined markets rather than in a single shared pool.

What is Morpho

Morpho is a decentralized lending protocol. Depositors supply assets to earn yield; borrowers post collateral and draw against it. Its distinguishing choice is granularity: instead of one protocol-wide risk configuration covering every listed asset, lending is split into many isolated markets, each parameterised on its own. Its main instance runs on Ethereum, with a separate deployment on base.

How It Works

Each market is defined by a collateral asset, a loan asset, a price oracle and a liquidation threshold. Because those are fixed per market, a problem in one market stays contained rather than spreading across everything the protocol lists. Curated vaults sit above the markets and allocate depositor funds across them according to a stated mandate, so a passive lender can hold a single position while the curator handles routing. Morpho has also introduced fixed-rate lending on Base, giving borrowers a defined cost rather than a floating one.

Ecosystem

Morpho's Base deployment expanded alongside Base's broader DeFi growth and is regularly cited in reporting on the network's lending activity, where it sits among the larger sources of deposits. Ethereum and Base host independent instances, so positions and risk parameters on one do not carry over to the other.

Recent developments

  • 2026-09-03 — Coinbase Lend Tops 500M Deposits on Base, Pollak Says — Jesse Pollak highlights Coinbase Lend crossing 500M in deposits on Base, powered by Morpho, and offers to help neobanks offer similar onchain yield. (@jessepollak)
The Timeline

The record

Every dated thing we know · Sep 2026
Sep 3, 2026★ MilestoneGraph genesis
Added to the graph
Morpho entered the Descout entity graph — the start of its permanent record.
From the ecosystem

Related coverage that mentions Morpho without being centered on it — filed under the associated entity it belongs to.

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