Pinned Tweet
We’ve just raised $175M in a round co-led by @paradigm, @a16zcrypto, and @RibbitCapital. And this is the largest raise in DeFi history.
The current financial system is broken. Access to capital still depends on where you live, who you know, and which intermediaries are willing to trust you. The only way to fix that is to build a new infrastructure, and that’s @Morpho.
Moving trillions to a completely new infrastructure requires an enormous amount of energy, conviction, and resources. This is why we raised.
This moment also lets us take a step back and appreciate Morpho's growth throughout the years, from a project started by four students to being integrated with the world's leading financial institutions.
I’m incredibly proud of the way we scaled: consciously, staying aligned as co-founders (perhaps not on whether butter should have salt in it or not, but that's another story), 100% focused on Morpho and nothing else, and growing the Morpho team into one of the best (if not the best!) and most principled teams building in DeFi.
In the months ahead, a big part of the work will be bringing Morpho to more teams and institutions: better integrations, better onboarding, better support, and a stronger go-to-market overall.
If we do our job well, the long-term outcome is clear: Morpho becomes the open credit network for the world, embedded into every financial institution, and changing the financial system for the better.
🦋
Morpho Association has raised $175M to build the open credit network for the world.
Co-led by @paradigm, @a16zcrypto, @RibbitCapital with strategic participation from @apolloglobal, @vaneck_us, @circle_ventures, and @Ledger @Cathayinnov.
The round also included participation from @variantfund, @wmt_ventures, @preludexyz, @IOSGVC, @HashKey_Capital, @sbigroup, @Bpifrance, @mirana, @bamazizimesh, NJJ Capital and 10+ other strategic partners.
The funding will help accelerate Morpho's position as the foundation for onchain credit.
After PRIME ($200m active loans), welcoming AUTO on @Morpho.
AUTO now plugs into Gauntlet USDC Frontier on @Morpho.
AUTO is issued by @HastraFi, developed in partnership with @Figure.
View the Frontier Vault here: app.morpho.org/ethereum/vaul…
we're packing all our engineers in a tiny room for the next few days (they cant go out), so they can tackle the entire product roadmap.
idk how it will go but it already smells like DeFi infrastructure inside.
Gonna explain to my gf i'm not context switching all day, i'm just in a consciousness-maxxxing state.
1/ We discovered something totally unexpected about the neural structure of consciousness that overturns decades of thinking on its biological basis and brings us significantly closer to the recipe for generating conscious awareness.
New preprint: biorxiv.org/content/10.64898… (led by @HesseJanis, with @FrankLanfranchi, @_conor_mcgrory, @Yuelin_Shi, and @EngelTatiana)
AI is pushing people to be more ambitious than ever.
Engineers are tackling their backlog at a crazy speed, and it keeps increasing every day. Bug tickets that used to sit for weeks or months barely exist anymore. Pretty much everything gets tackled by swarms of agents working 24/7.
But the product roadmap isn’t keeping up yet. It’s shrinking, and it isn’t expanding at the same pace.
The constraints on going faster mostly come from humans in the loop: compliance, regulations, politics, bureaucracy, product feedback, and the time it takes to identify real needs, things where agents don’t really have a direct impact.
All else being equal, there will be a resource mismatch unless companies become increasingly creative and ambitious about what they can ship.
I believe the most ambitious companies will thrive. The rest will be commoditized.
This is what we’re starting to see. And we'll be truly impressed by how fast, and how good, products will be in 6 months.
Crazy time to be alive.
RWAs represent $1.8B of total deposits on Morpho.
I would not be surprised if tokenized equities represent a large portion in a year or so (like >10%+).
Product and protocol teams cooking on that front btw 🙈
“Our belief is that tokenized equities will be the largest demand driver for tokenization onchain, since the birth of stablecoins.”
- @stablenzo from @circle during @Vault__Summit Singapore
With @tempo zones & Morpho infra, curated by @SentoraHQ, @deel is bringing yield to their users while preserving privacy.
This is a pretty cool demonstration of what the future looks like.
Millions of @deel users can now earn Morpho powered yield privately.
Idle balances are routed via @tempo Zones before depositing in Morpho Vaults curated by @SentoraHQ, making positions and earnings private.
Sorry CT i could not resist.
@PaulFrambot & I before teasing the next release.
Morpho is powering Earn & Borrow on @base 🔵
This quoted post is unavailable.
So happy to have @brian__foster joining @Morpho to lead GTM!
He spent the last 7+ years at Coinbase helping take crypto infra from an emerging product to something used by the largest financial institutions in the world. Now is going to do it again at Morpho.
This is truly the start of a new era for onchain finance.
I’m excited to share that I’ve joined @Morpho to lead all things commercial as Head of GTM.
@PaulFrambot and team are visionaries and world-class builders. It’s a privilege to team up with them.
What’s Morpho?
Morpho is an open credit network that enables people and agents to build customizable onchain lending, borrowing, and yield products.
Morpho protocols, smart contracts, and blockchains are the infrastructure making it possible. Morpho is a pure technology layer, with composability and security at the center of its design.
The why
Morpho makes it dead simple for our partners - fintechs, brokerages, exchanges, and banks - to build revenue-generating products that help their users put their assets to work. In parallel, this helps unlock new distribution for lenders and asset issuers.
Historically, spinning up credit products meant building pricing, risk and liquidation systems from scratch, and spending months on integrations before the first loan went out.
Morpho collapses this into open infrastructure: liquidity, rates, and liquidations run onchain, in markets anyone can access.
We’re growing
More than $17B is now deposited on Morpho protocols, up 3.4x since the beginning of 2025.
So far, BTC, USDC, ETH and other stablecoins have anchored most of that growth. But these assets have also laid the foundation for what's coming next, by getting institutions comfortable with onchain infrastructure…
The onchain collateral supernova
…Now, Wall Street is racing to tokenize treasuries, funds, credit, and equities. “Crypto native” collateral will keep growing, but the tokenization wave has the potential to be orders of magnitude larger.
Onchain credit markets will accelerate tokenization growth because they make tokenized assets more productive: they becomes programmable collateral that people can borrow against 24/7, in seconds.
In the not so distant future, we’ll have tens of thousands of tokenized assets and $ trillions more in value onchain. Humans and agents will flock to the fastest and most composable system.
In credit, Morpho is poised to be that system.
First orders of business
It’s day one for me, but it’s already clear a lot of my work will rhyme with what I focused on over the last 7+ years scaling Coinbase’s institutional and infrastructure businesses: helping make our partners successful.
Over the next few weeks, I’ll be on a listening tour. If you’re working on credit products - as a fintech, lender, curator, asset issuer or something else - drop me a line. We want to hear from you and help you grow.
Last but not least: we’re hiring! …Across GTM and beyond. Come get in touch if you’re as excited about the Morpho vision as I am.
Let’s go.
More
- API docs [docs.morpho.org/get-started]
- About Morpho [morpho.org/]
- Our recent $175M raise from a16z, Ribbit Capital, Paradigm, Apollo, and others [morpho.org/blog/morpho-assoc…]
- Open roles [morpho.org/jobs]
There's a new version of this post
Almost missed this milestone which is quite huge if you think about it.
The biggest moat of blockchains is network effect.
If you have many isolated networks, the combined network effect is smaller than if all the liquidity were on a single network.
But if you bring atomicity between L1 and L2 → liquidity movements become instant → you can reaggregate liquidity with more safety and speed → better prices and UX
On Morpho, you could imagine being able to do Multi Market Offers ACROSS CHAINS on Midnight for instance 👀
This way you'd connect @ethereum to @base @RobinhoodApp chain, and any other L2s together so they share liquidity and provide better rates for end users.
Ethereum Just Solved a Piece of L1-L2 Fragmentation
Ethereum just hit an important milestone for its L1 + L2 ecosystem.
The Ethereum mainnet completed its first atomic transaction between L1 and L2.
In simple terms:
• L1 and L2 can coordinate in the same transaction instead of acting more like separate networks
• Less fragmentation → Apps and liquidity across different Ethereum layers can work together more easily
• Better user experience → Cross-layer actions could become faster and simpler
Why does this matter?
Ethereum has many L2s, but liquidity and users are often split across them.
Atomic composability could help make these layers feel more like one connected Ethereum ecosystem.
This is only the first step, but it could be an important piece of Ethereum’s long-term scaling roadmap.
This is your reminder that:
＿＿＿＿＿＿
| We’re hiring |
|＿＿＿＿＿＿|
\ (•◡•) /
\ /
——
| |
|_ |_
Open roles:
→ Account Growth
→ Senior Fintech BD
→ Commercial Counsel
→ Product Manager (Protocol)
→ Executive Assistant
→ Revenue Operations Manager
→ Staff Product Manager (New Credit)
→ US Policy Lead
→ Staff Backend Engineer
→ Staff Fullstack Engineer
Morpho is now powering @SoSoValueCrypto earn product, curated by @UnifiedLabs_ 🎉
SoDEX Wealth Earn, powered by Morpho
@SoSoValueCrypto, the one-stop research, wealth management and trading ecosystem built on Value Chain, now provides its users access to onchain yield curated by @UnifiedLabs_ directly in the @sodex_official interface
In a utopian world, you don't need solution engineers.
The products you have is so simple and scalable that everyone can just integrate it in one click. You could even argue that having solution engs shows there's a gap in your product suite.
However, the interesting thing with protocols such as Morpho is that their raw capabilities far exceed what people want or what is easy to do now.
So you have a very long lead time during which you figure it out what actually the products are that are worth making based on market trends, what you think people truly want & what people ask (often they dont really know what they need exactly).
So you actually, need incredible solution engineers to identify repeated patterns, bridge the integrators' needs with existing products, while forwarding the integrators' true requirements to an incredible product team that must figure out what truly is worth building and how.
This is no simple task in practice and actually take a lot of effort from every team members: often pushing back on what the integrators or BDs wish. Which is uncomfortable and does not please everyone. This is the price to pay to create a truly safe and scalable network I guess.
We're learning a lot these days, especially as Midnight open an even larger design space VS Blue. But understanding how to collect the true requirements, feed that to the team, build only the relevant & scalable products and repeat that process until we onboard all types of loans on Midnight will be a gigantic accelerator to bring the trillions of loans onchain.
RWA now reprends 1.8B of total deposits on @Morpho and the growth is intensifying each day.
Morpho is the ideal place for RWA:
-> As an open network, it lets anyone create new markets instantly for all type of assets
-> Markets are isolated so you can truly select the risk exposure for your credit product on top
-> Soon on Midnight you'll be able to do portfolio as collateral letting you borrow against a basket of collaterals like stocks (you can already do this actually using the P2P app 👀)
RWA DeFi TVL growth by venue, past 7 days
@morpho +$29.2M
@pendle_fi +$7.0M
@orca_so +$1.7M
@aeroxyz +$669K
Data from @tokenterminal
So @BogdanHabic and Andrej decided to give me GEB.
I just started reading it but I'm still not sure whether this (a) a weapon, (b) a brick or (c) an incredible book for high IQ that I cannot comprehend. Will figure it out.
