Mathis

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.

The Morpho Midnight audit competition is now live on @cantinasecurity cantina.xyz/competitions/4…

The Morpho Midnight Whitepaper A noncustodial protocol for fixed rate, fixed term credit markets morpho.org/whitepapers/mi…

repo: github.com/morpho-org/vau…

After one year in the making, Vaults V2, the first piece of the Morpho V2 stack, are out! Thoroughly designed, verified, and audited, with the help of the best security firms. And it is fully open source!

Morpho is hiring a Senior Protocol Engineer to help research, design and ship the protocols which will power global open access to capital. Join us on this exciting mission! x.com/i/jobs/1957496…

@lightclients @haydenzadams @Smartprogrammer what was the rationale for choosing the current solution (setting a new code revokes the previous one) against a revoke mechanism of codes one by one (allowing to delegate to multiple codes at the same time)?

@haydenzadams @Smartprogrammer it doesn’t do everything perfectly. i for one was a major proponent of permanent delegations. however, others have raised problems with that and that’s why we have the spec you see today.

found out the bag has been fumbled again, this time for EIP-7702 incrementing nonces bricking prior delegations does NOT help security, its a security disaster imagine you have a wallet that prompts you to delegate to some contract used as part of an account recovery scheme later on you import your same key into a new wallet that prompts you to delegate to a different contract used for offchain limit orders your account recovery has now been permanently bricked with you being aware of it requiring every wallet be aware of every prior authorization and how to handle it is completely unrealistic imo revocation is unnecessary - but even if we need it, can be please use non-incrementing nonces or some other scheme?

We're excited to announce that Morpho has secured $50M, led by Ribbit Capital! The funding from Ribbit and other strategic partners further enhances Morpho's decentralization and supports its mission to make financial infrastructure a public good.

@PaulFrambot morpho-org.github.io/bluenet/exampl… here you have the interactive graph (for USDC)

NB: here it is WETH markets only. Code by @MathisGD_ if you want to have fun: github.com/morpho-org/blu…

Nice visual representation of how primitives (Morpho markets in green) are aggregated and share liquidity from different risk profiles (Morpho vaults in blue). Morpho is scaling into a gigantic, immutable and stateful lending network!

@MerlinEgalite x.com/MathisGD_/stat…

Random metrics: → 1200 flashloans have been performed on Morpho Blue → $2.7B of volume Smart people avoiding fees 👀

@MorphoLabs x.com/MathisGD_/stat…

The import tab is live on the Morpho Interface. 1-click migrate your Morpho-Aave/Aave supply positions into the MetaMorpho of your choice to enjoy improved rates and MORPHO rewards.

@pr3vert With high incentives though, you can get to negative borrowing costs (like Compound had for a very long time for example), which breaks the "equivalence".

@pr3vert And anyway, for reasonable incentives, I'm not sure that it changes that much equilibriums to put them on one side or the other: giving incentives to lenders means cheaper borrowing, and giving incentives to borrowers means more profitable lending.

Remember the time, not so distant, when protocols only incentivized borrowing because borrowers was scarce?

@alcueca yes offchain is better, especially if you want to optimize for the gas cost too

@MathisGD_ I coded one at some point, but I can only find this now: github.com/alcueca/erc739… The problem with such an aggregator is that it can't be permissionless, or the cost records will be manipulable. So maybe off-chain is best.

If you are a borrower of flash loans in your protocol, we have now 10 adapters in ERC7399, deployed in 5 chains. Borrow from anyone, anywhere. Free to use, permissionless, because we love you. github.com/alcueca/erc739…

@euler_mab @0xTogbe on Morpho Blue you can use markets with tokenised deposits as collateral if you want rehypothecation

@0xTogbe Compound v3 you can’t Morpho Blue you can’t FraxLend you can’t Aave you can on a small subset of assets

Rehyothecation is such an important aspect in the creation of free, fair, and capital efficient markets. It's surprising to me so many lending protocols don't enable it.

other example: @optimizoor's Solady is getting its fork github.com/Vectorized/sol… taking advantage of the newest evm changes that will have to be maintained in parallel

example: blue has been compiled with 0.8.19 for this reason (so doesn't benefit from push0)

the evm evolving (push0, tstore, mcopy) feels good but having to also maintain versions compatible with L2s that don't have these changes yet is really annoying...