{"id":81813,"date":"2024-06-18T18:20:15","date_gmt":"2024-06-18T22:20:15","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=81813"},"modified":"2024-06-18T18:22:32","modified_gmt":"2024-06-18T22:22:32","slug":"morpho-becomes-first-l2-protocol-to-launch-on-base","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/morpho-becomes-first-l2-protocol-to-launch-on-base\/","title":{"rendered":"Morpho Becomes First L2 Protocol to Launch on Base"},"content":{"rendered":"\n

Morpho, a DeFi lending and borrowing protocol initially established on Ethereum, has launched the first Layer 2 protocol<\/a> on Base.<\/p>\n\n\n\n

\"Morpho
Morpho Becomes First L2 Protocol to Launch on Base<\/figcaption><\/figure>\n\n\n\n

Morpho is coming live on Base to take advantage of the expanding DeFi ecosystem\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> despite having debuted on the Ethereum blockchain. Using the Morpho protocol, customers can get a more robust capital utilization rate through a peer-to-peer liquidity market. <\/p>\n\n\n\n

While he had initially opposed the concept of moving onto a second chain, Paul Frambot, CEO of Morpho Labs, noted that “things have changed” in his comments regarding the deployment on Base. <\/p>\n\n\n\n

Morpho currently has the potential to become the leading loan and borrowing protocol on Base, according to a post made by Frambot on Tuesday on X.\u00a0<\/p>\n\n\n\n

\n

“Today, Morpho is launching on Base, the first L2 in its history. For the past two years, I have been opposed to deploying on any other chain because I wanted Morpho to maintain a narrow focus. At the time, we couldn't envision a new deployment doubling Morpho's TVL. But things have changed.”<\/p>\n<\/blockquote>\n\n\n\n

According to the CEO of Morpho Labs, the protocol's Base platform may surpass the Ethereum version within the next year. <\/p>\n\n\n\n

Earn, Borrow, Build<\/h2>\n\n\n\n

Morpho's Base launch brings about many capabilities the community can use. It comes with a feature called MetaMorpho Vaults, which offers passive lending for higher yields. <\/p>\n\n\n\n

Depositing assets into a vault earns users money. After depositing collateral, users can also borrow money from Morpho Markets. One can borrow USDC stablecoin<\/a> using cbETH as collateral, for example, through the cbETH\/USDC market. <\/p>\n\n\n\n

As Base becomes more widely used in the market, Morpho's expansion will depend greatly on its ability to onboard the upcoming wave of consumers. <\/p>\n\n\n\n

Morpho's current total value locked (TVL) is $1.82 billion, according to DeFiLlama statistics<\/a>. Currently, the on-chain P2P layer has seen a TVL increase of around 205% year over year, with the TVL having started the year at around $597 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Morpho, a DeFi lending and borrowing protocol initially established on Ethereum, has launched the first Layer 2 protocol on Base. Morpho is coming live on Base to take advantage of the expanding DeFi ecosystem despite having debuted on the Ethereum blockchain. Using the Morpho protocol, customers can get a more robust capital utilization rate through […]<\/p>\n","protected":false},"author":43,"featured_media":81814,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[13662,20087,20088],"class_list":["post-81813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-base","tag-layer-2-protocol","tag-morpho"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/06\/croc_1718747908882.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/81813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=81813"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/81813\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/81814"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=81813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=81813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=81813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}