Lenders can earn on Morpho using Morpho Vaults, noncustodial simple to use lending vaults that optimize yields for depositors. Borrowers can borrow any assets directly from Morpho Markets. Developers and businesses can use different parts of Morpho’s permissionless infrastructure to build any custom use case or application.

Morpho is an open, efficient, and resilient platform that allows anyone to earn yield and borrow assets. At the same time, developers or businesses can create markets, curate vaults, and build a range of applications on its flexible, immutable infrastructure.

MORPHO tokenholders own and govern the protocol. They currently do not take a cut of the interest and third-party token incentives earned by lenders (revenue). Morpho's investors include a16z, Coinbase Ventures, Semantic Ventures, etc.

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Morpho

Morpho | Data breakdown

# Morpho Revenue Methodology

## 1. Overview

Revenue measures the portion of fees that is retained by a project, as determined by its take rate. For Morpho, this metric is currently set to zero across all supported products, including Morpho Blue and Morpho Optimizers. A protocol fee switch has not been activated, meaning no portion of the generated fees is retained by the protocol. Consequently, all interest accrued and fees generated are distributed entirely to supply-side participants, such as lenders and liquidity providers.

## 2. Data sources

- **None**: This metric is set to a constant value and does not consume blockchain events

## 3. Step-by-step calculation

### Component A: Revenue allocation

- **Purpose**: Assigns the protocol revenue to its final value.
- **Logic**: Protocol revenue is hardcoded to zero for all historical periods. This reflects that the protocol take rate is set to zero percent, meaning all interest and fees are distributed to the supply side.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

fees * take_rate (illustrative — revenue is observed directly per project, not derived from take_rate)

Fee revenue retained after supply-side payouts. Before cost of revenue (e.g. L2 DA fees) and before operating expenses.

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