01 /
Brief
RWA composability leader with isolated lending markets. Permissionless vault curation by Gauntlet, Steakhouse, and others. Oracle-agnostic. Curators choose from Chronicle, Pyth, Chainlink, and more.
02 /
Snapshot
Key terms and identifiers.
- Asset value
- $5B+
- Spec type
- lending-venue
- Chain
- Ethereum + Base
- Rwa collateral
- BUIDL, JTRSY, ACRED, sBUIDL, xStocks (SPYx)
- Borrow assets
- USDC, USDT, ETH
- Typical ltv
- 50-85% (curator-specific)
- Curator led
- Yes (Gauntlet, Steakhouse, RE7, MEV Capital)
- Asset classes
- Treasuries, Private credit
- Token standards
- erc-20, eip-4626
- Analytics
- defillama.com/protocol/morpho
03 /
Milestones
How this player got here.
- Jan 2026Coinbase loans (powered by Morpho) hit $2B collateral, $1.1B active loans within first year
- Jan 2026RWA deposits exceeded $820M, up from $1.5M at start of 2025
- Jun 2025Morpho V2 launched with intent-based architecture, fixed-rate loans, and RWA collateral support
- Jan 2025Crossed $4B TVL
- Jun 2024Morpho Blue launched
04 /
Connections
Who they build with, build on, integrate with.
Dependency
Where this player builds on, integrates, or relies on others.
