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DeFi has always run on variable rates. The next unlock is fixed-rate, fixed-term lending onchain. Paul Frambot 🦋, co-founder and CEO of Morpho 🦋, joined DeFi Drip at the Real-World Asset Summit in Cannes. - The DeFi Mullet, and how Morpho became the backend for major earn products -...

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Centrifuge

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11,643 views • 1 month ago •via X (Twitter)

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I spoke with Maple's Sid Powell (Sid Powell 🥞 ) and Paul Frambot 🦋 of Morpho about where institutional crypto lending is heading, why DAOs struggle to move fast, and what the DeFi mullet model really requires to work. Don’t miss it! Timestamps: 🏦 0:58 What makes Maple Finance a hybrid between CeFi and DeFi lending 🌾 3:37 How Maple's Syrup stablecoin generates yield from institutional loans 🤝 7:14 Why Ethena proposed using Maple as a backing asset for USDe 🏛️ 11:43 How institutional interest in crypto has held up despite the bear market ⚙️ 18:05 How Maple thinks about multi-chain deployment and Ethereum vs. Solana 🗳️ 22:25 Why DAO governance creates tension with moving nimbly as a business 🦙 35:24 How Morpho powers Coinbase's DeFi lending with a Web2 user experience 🔄 49:27 Why Morpho V2 introduces fixed-rate, fixed-term lending to DeFi 🏗️ 59:52 How Morpho's foundation-only structure avoids the DAO governance trap 🤖 1:05:28 Why Morpho uses formal verification, not just AI, to defend against smart contract hacks
1:12:28

I spoke with Maple's Sid Powell (Sid Powell 🥞 ) and Paul Frambot 🦋 of Morpho about where institutional crypto lending is heading, why DAOs struggle to move fast, and what the DeFi mullet model really requires to work. Don’t miss it! Timestamps: 🏦 0:58 What makes Maple Finance a hybrid between CeFi and DeFi lending 🌾 3:37 How Maple's Syrup stablecoin generates yield from institutional loans 🤝 7:14 Why Ethena proposed using Maple as a backing asset for USDe 🏛️ 11:43 How institutional interest in crypto has held up despite the bear market ⚙️ 18:05 How Maple thinks about multi-chain deployment and Ethereum vs. Solana 🗳️ 22:25 Why DAO governance creates tension with moving nimbly as a business 🦙 35:24 How Morpho powers Coinbase's DeFi lending with a Web2 user experience 🔄 49:27 Why Morpho V2 introduces fixed-rate, fixed-term lending to DeFi 🏗️ 59:52 How Morpho's foundation-only structure avoids the DAO governance trap 🤖 1:05:28 Why Morpho uses formal verification, not just AI, to defend against smart contract hacks

Laura Shin

26,793 views • 3 months ago

LIVE NOW - Coinbase x Morpho: The DeFi Mullet is Here! | Will Robinson & Paul Frambot Join us for a groundbreaking episode exploring the historic partnership between Coinbase 🛡️ and Morpho Labs, bringing DeFi's power to millions through Bitcoin-backed loans. Featuring Paul Frambot 🦋 from Morpho Labs and Will Robinson | wrobinson.eth 🛡️ from Coinbase, as we dive deep into how this integration represents the perfect embodiment of the "DeFi mullet" - fintech in the front, DeFi in the back. -------------- TIMESTAMPS 0:00 Intro 5:02 DeFi Integration 7:19 Technical Implementation 11:32 Why Morpho? 15:34 Tech Tree for Crypto 19:25 Base Deployment 22:13 Personal Accounts and Yields 26:41 Morpho's Vision 36:08 What’s Next? 39:58 Closing & Disclaimers
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LIVE NOW - Coinbase x Morpho: The DeFi Mullet is Here! | Will Robinson & Paul Frambot Join us for a groundbreaking episode exploring the historic partnership between Coinbase 🛡️ and Morpho Labs, bringing DeFi's power to millions through Bitcoin-backed loans. Featuring Paul Frambot 🦋 from Morpho Labs and Will Robinson | wrobinson.eth 🛡️ from Coinbase, as we dive deep into how this integration represents the perfect embodiment of the "DeFi mullet" - fintech in the front, DeFi in the back. -------------- TIMESTAMPS 0:00 Intro 5:02 DeFi Integration 7:19 Technical Implementation 11:32 Why Morpho? 15:34 Tech Tree for Crypto 19:25 Base Deployment 22:13 Personal Accounts and Yields 26:41 Morpho's Vision 36:08 What’s Next? 39:58 Closing & Disclaimers

Bankless

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The RWA market went from $1B to $25B in two years. The harder question now is how to make tokenized assets actually useful. Bhaji Illuminati, CEO of Centrifuge Labs, sits down with 0xGraham, DeFi Product Lead, to open DeFi Drip Season 2, break down what comes after tokenization, and show what composability looks like in practice. - Reaching institutional allocators and DeFi users at the same time - Why building the S&P 500 onchain is different from wrapping an ETF - RWAs across the DeFi yield stack: Aave, Morpho, Sky, and what's next Watch the full episode ↓
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The RWA market went from $1B to $25B in two years. The harder question now is how to make tokenized assets actually useful. Bhaji Illuminati, CEO of Centrifuge Labs, sits down with 0xGraham, DeFi Product Lead, to open DeFi Drip Season 2, break down what comes after tokenization, and show what composability looks like in practice. - Reaching institutional allocators and DeFi users at the same time - Why building the S&P 500 onchain is different from wrapping an ETF - RWAs across the DeFi yield stack: Aave, Morpho, Sky, and what's next Watch the full episode ↓

Centrifuge

20,339 views • 1 month ago

Confidentiality will continue to unlock new institutional capital onchain. This is just the start. $13 million has already been deposited into the Morpho 🦋 vault accepting confidential USDC (cUSDC) as the deposit asset. Public blockchains expose every position, every trade, every strategy. For institutions managing real capital, that's a non-starter. cUSDC changes the equation. Institutions can now earn yield from leading DeFi credit strategies on Morpho 🦋, curated by Steakhouse Financial, while keeping balances, allocations, and strategy confidential onchain. No exposure to competitors. No exposure to counterparties. No leaving DeFi. Zama is building utility for confidential assets. Yield on Morpho 🦋 is just the first use case. More to come on the Zama Protocol.
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Confidentiality will continue to unlock new institutional capital onchain. This is just the start. $13 million has already been deposited into the Morpho 🦋 vault accepting confidential USDC (cUSDC) as the deposit asset. Public blockchains expose every position, every trade, every strategy. For institutions managing real capital, that's a non-starter. cUSDC changes the equation. Institutions can now earn yield from leading DeFi credit strategies on Morpho 🦋, curated by Steakhouse Financial, while keeping balances, allocations, and strategy confidential onchain. No exposure to competitors. No exposure to counterparties. No leaving DeFi. Zama is building utility for confidential assets. Yield on Morpho 🦋 is just the first use case. More to come on the Zama Protocol.

Zama

20,611 views • 8 days ago

new episode 🎧 i met Paul Frambot | Morpho at a parisian meetup in 2021. he was still a student and building a protocol to improve the efficiency of aave and compound. four years later, Morpho 🦋 is the second-largest lending protocol by tvl and is about to expand to 16 new chains. morpho innovates on traditional defi lending products by creating lending market infrastructure rather than a direct lending platform. the distinction is subtle but it allows the creation of custom lending markets where users define risk parameters, collateral assets, and interest rates. morpho vaults sit on top of these markets. lenders provide liquidity to a single vault, while curators efficiently distribute it across isolated markets. each vault has a unique risk profile, enabling lenders to deposit their collateral in alignment with their own risk tolerance. the rise of morpho as a leading lending protocol is nothing short of astounding. paul's story and journey as a young startup founder is nothing short of astounding. chapters 00:00 intro & paul's journey 01:49 building morpho in france 06:07 what makes morpho unique 11:32 curators’ role in risk management 20:14 fee switch & open source transition 29:52 token transferability 35:37 scaling morpho cross-chain 44:41 fintechs & institutional defi adoption 47:03 is morpho competing with aave? 49:25 challenges of building morpho
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new episode 🎧 i met Paul Frambot | Morpho at a parisian meetup in 2021. he was still a student and building a protocol to improve the efficiency of aave and compound. four years later, Morpho 🦋 is the second-largest lending protocol by tvl and is about to expand to 16 new chains. morpho innovates on traditional defi lending products by creating lending market infrastructure rather than a direct lending platform. the distinction is subtle but it allows the creation of custom lending markets where users define risk parameters, collateral assets, and interest rates. morpho vaults sit on top of these markets. lenders provide liquidity to a single vault, while curators efficiently distribute it across isolated markets. each vault has a unique risk profile, enabling lenders to deposit their collateral in alignment with their own risk tolerance. the rise of morpho as a leading lending protocol is nothing short of astounding. paul's story and journey as a young startup founder is nothing short of astounding. chapters 00:00 intro & paul's journey 01:49 building morpho in france 06:07 what makes morpho unique 11:32 curators’ role in risk management 20:14 fee switch & open source transition 29:52 token transferability 35:37 scaling morpho cross-chain 44:41 fintechs & institutional defi adoption 47:03 is morpho competing with aave? 49:25 challenges of building morpho

seb3point0 🌶️

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Morpho launched Vaults V2, their new asset management stack aimed at bringing TradFi/Fintechs onchain. In this convo @paulframbot and I cover: - whats new in v2 - the state of the DeFi Mullet thesis - why we think onchain lending will follow the growth trajectory of stables.
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Morpho launched Vaults V2, their new asset management stack aimed at bringing TradFi/Fintechs onchain. In this convo @paulframbot and I cover: - whats new in v2 - the state of the DeFi Mullet thesis - why we think onchain lending will follow the growth trajectory of stables.

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Wall Street is no longer exploring crypto — they’re building onchain. Franklin Bi joins senior leaders from Apollo, Nasdaq, and Morpho to discuss how TradFi and DeFi are converging to reshape global markets. Christine Moy $APO 💎🔥🦈 | Apollo Global Management, Inc. Paul Frambot 🦋 | Morpho Labs Jay Heller | Nasdaq Exchange 00:49 - “Law of Financial Physics” & Tokenization Gravity 08:00 - Presenting the Value Proposition of Tokenization 12:54 - NASDAQ Adopting Tokenization 17:28 - Protocol and Institutional Collaboration 22:53 - Morpho & Apollo: Parallel Financing Models 25:18 - DeFi Insurance & Just-In-Time Finance 26:46 - Institutional Hedging vs. DeFi Disruption 29:17 - Morpho v2: Institutional Credit & Term Markets
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Wall Street is no longer exploring crypto — they’re building onchain. Franklin Bi joins senior leaders from Apollo, Nasdaq, and Morpho to discuss how TradFi and DeFi are converging to reshape global markets. Christine Moy $APO 💎🔥🦈 | Apollo Global Management, Inc. Paul Frambot 🦋 | Morpho Labs Jay Heller | Nasdaq Exchange 00:49 - “Law of Financial Physics” & Tokenization Gravity 08:00 - Presenting the Value Proposition of Tokenization 12:54 - NASDAQ Adopting Tokenization 17:28 - Protocol and Institutional Collaboration 22:53 - Morpho & Apollo: Parallel Financing Models 25:18 - DeFi Insurance & Just-In-Time Finance 26:46 - Institutional Hedging vs. DeFi Disruption 29:17 - Morpho v2: Institutional Credit & Term Markets

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42,401 views • 8 months ago

BREAKING: Marius | Kamino from Kamino announces fixed rate, fixed term borrowing, and borrow intents, which allow for price discovery on interest rates onchain 🔥
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BREAKING: Marius | Kamino from Kamino announces fixed rate, fixed term borrowing, and borrow intents, which allow for price discovery on interest rates onchain 🔥

Solana

23,323 views • 6 months ago

RWAs at Solana speed. Unlocked for DeFi. Centrifuge brings deRWA to Solana, integrating with the ecosystem’s top DeFi protocols from day one: → @RaydiumProtocol: Solana’s core DEX → Kamino: the largest lending platform → Lulo: speed-running yield aggregator Powered by Wormhole and Pyth Network 🔮 for interoperability and transparency. Starting with deJTRSY, backed by short-term U.S. Treasuries, with more deRWA asset classes on the way. 🟣 Freely transferable 🟣 Yield-bearing 🟣 Built for DeFi “By combining regulatory safeguards with native DeFi composability, this integration marks a major step toward bringing institutional-grade yield to everyday users on Solana.” — Nick Ducoff 🧵👇
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RWAs at Solana speed. Unlocked for DeFi. Centrifuge brings deRWA to Solana, integrating with the ecosystem’s top DeFi protocols from day one: → @RaydiumProtocol: Solana’s core DEX → Kamino: the largest lending platform → Lulo: speed-running yield aggregator Powered by Wormhole and Pyth Network 🔮 for interoperability and transparency. Starting with deJTRSY, backed by short-term U.S. Treasuries, with more deRWA asset classes on the way. 🟣 Freely transferable 🟣 Yield-bearing 🟣 Built for DeFi “By combining regulatory safeguards with native DeFi composability, this integration marks a major step toward bringing institutional-grade yield to everyday users on Solana.” — Nick Ducoff 🧵👇

Centrifuge

99,146 views • 1 year ago

Lending is heating up. Real-world demand is here. Sam MacPherson (Co-Founder and CEO of Phoenix Labs) sat down with Merlin Egalite 🕛 (Co-Founder of Morpho Labs) to discuss: - What Ignition + Overdrive means for Morpho users - Why the cbBTC (Coinbase 🛡️) lending market is exploding - How Spark powers 80%+ of it - The key role both Morpho & Spark play in this rapidly growing market Don’t miss this one 👇
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Lending is heating up. Real-world demand is here. Sam MacPherson (Co-Founder and CEO of Phoenix Labs) sat down with Merlin Egalite 🕛 (Co-Founder of Morpho Labs) to discuss: - What Ignition + Overdrive means for Morpho users - Why the cbBTC (Coinbase 🛡️) lending market is exploding - How Spark powers 80%+ of it - The key role both Morpho & Spark play in this rapidly growing market Don’t miss this one 👇

Spark

39,250 views • 11 months ago

Meet deRWA: a unique wrapper that creates freely transferable RWA tokens, purpose-built for DeFi. RWAs that move with the market. Loop. Swap. Save. Trade. This is how institutional-grade assets unlock real onchain utility. From collateral in lending protocols to yield in retail apps, deRWA brings assets to where the liquidity lives. First integrations coming soon. Learn more:
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Meet deRWA: a unique wrapper that creates freely transferable RWA tokens, purpose-built for DeFi. RWAs that move with the market. Loop. Swap. Save. Trade. This is how institutional-grade assets unlock real onchain utility. From collateral in lending protocols to yield in retail apps, deRWA brings assets to where the liquidity lives. First integrations coming soon. Learn more:

Centrifuge

31,982 views • 1 year ago

"Morpho doesn't manage assets. We're not comparable to Aave. We're infrastructure for asset managers like Aave" Morpho Co-Founder Paul Frambot on why Morpho came out nearly unscathed "Morpho provides a modular stack of isolated lending markets that anyone can deploy. You can have the safest as well as the riskiest products, but they're isolated" "People compare Morpho and Aave and try to put one against the other. But we're not competing with Aave. We're infrastructure for asset managers like Aave. Our builders are the ones competing with Aave" "90% of our volume is stablecoins in terms of active loans. We think stablecoin loans are what's truly going to be the scalable market if we want to unlock real-world lending. That's the only place where we spend our time and energy"
2:56

"Morpho doesn't manage assets. We're not comparable to Aave. We're infrastructure for asset managers like Aave" Morpho Co-Founder Paul Frambot on why Morpho came out nearly unscathed "Morpho provides a modular stack of isolated lending markets that anyone can deploy. You can have the safest as well as the riskiest products, but they're isolated" "People compare Morpho and Aave and try to put one against the other. But we're not competing with Aave. We're infrastructure for asset managers like Aave. Our builders are the ones competing with Aave" "90% of our volume is stablecoins in terms of active loans. We think stablecoin loans are what's truly going to be the scalable market if we want to unlock real-world lending. That's the only place where we spend our time and energy"

Laura Shin

46,115 views • 2 months ago

Jupiter Offerbook: The Money Market for Everything Onchain Fixed-term, peer-to-peer lending for every asset on Solana - with no price-based liquidations. Be early:
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Jupiter Offerbook: The Money Market for Everything Onchain Fixed-term, peer-to-peer lending for every asset on Solana - with no price-based liquidations. Be early:

Jupiter

20,007 views • 3 months ago

"Finance is like essentially 50,000 different banks and credit unions that all have segregated infrastructure.” Morpho 🦋 cofounder Paul Frambot 🦋 on why crypto can reshape lending: “Ethereum is like one single database for the entire world, like one single computer for the entire world.” “Instead of going to a specific bank, you’re gonna come to the open blockchain … and then you’re gonna have the entire world quote you on your interest rate.”
1:15

"Finance is like essentially 50,000 different banks and credit unions that all have segregated infrastructure.” Morpho 🦋 cofounder Paul Frambot 🦋 on why crypto can reshape lending: “Ethereum is like one single database for the entire world, like one single computer for the entire world.” “Instead of going to a specific bank, you’re gonna come to the open blockchain … and then you’re gonna have the entire world quote you on your interest rate.”

a16z crypto

27,005 views • 3 months ago

You experienced Term Auctions, you’ve signed the Blue Sheets, now it’s time to enter the Vault. Term Strategy Vaults are built on yearn V3, and are automated to make fixed-rate lending effortless. - Pick your strategy - Deposit your funds - Secure predictable yields Everything is audited, automated, and available for any user. Welcome to seamless DeFi, with Term. Let’s dive deeper 🧵 1/ What are Term Strategy Vaults? They’re automated DeFi tools that make fixed-rate lending effortless. Built on yearn V3, these vaults simplify liquidity management, reinvest earnings, and optimize risk-adjusted yields for passive investors. 2/ How does it work? Funds are re-balanced across lending positions while maintaining prudent portfolio risk controls: ▫️ Participate in Term Auctions & Blue Sheets. ▫️ Focus on fixed-rate lending = capital efficient and consistent yields. 3/ Why choose Term Strategy Vaults? 🔹 Automated lending + strict portfolio controls 🔹 Stable, reliable yields 🔹 Professional risk curation 🔹 Non-custodial + verifiable on-chain 4/ No expertise required! You deposit $USDC, $wETH, or other supported assets, and the vaults handle the rest. It's DeFi lending made simple. 5/ How secure is it? ☑️ Term Vaults are non-custodial. ☑️ Funds are locked in immutable smart contracts. ☑️ Protected by strict smart contract-enforced constraints. ☑️ Third-party audits reinforce safety. Your funds, your control. 6/ Who can benefit? Passive lenders who want set-it-and-forget-it lending. Yield hunters tired of inefficiencies in floating-rate protocols. Risk-conscious DeFi users who want professionally curated and tailored strategies, not a one-size-fits-all approach. 7/ Getting started is easy: > Pick a strategy based on your risk preference. >> Deposit your assets. >>> Relax while the vault optimizes yield. Why work harder when you can let your money work smarter? Start your Vaults journey →
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You experienced Term Auctions, you’ve signed the Blue Sheets, now it’s time to enter the Vault. Term Strategy Vaults are built on yearn V3, and are automated to make fixed-rate lending effortless. - Pick your strategy - Deposit your funds - Secure predictable yields Everything is audited, automated, and available for any user. Welcome to seamless DeFi, with Term. Let’s dive deeper 🧵 1/ What are Term Strategy Vaults? They’re automated DeFi tools that make fixed-rate lending effortless. Built on yearn V3, these vaults simplify liquidity management, reinvest earnings, and optimize risk-adjusted yields for passive investors. 2/ How does it work? Funds are re-balanced across lending positions while maintaining prudent portfolio risk controls: ▫️ Participate in Term Auctions & Blue Sheets. ▫️ Focus on fixed-rate lending = capital efficient and consistent yields. 3/ Why choose Term Strategy Vaults? 🔹 Automated lending + strict portfolio controls 🔹 Stable, reliable yields 🔹 Professional risk curation 🔹 Non-custodial + verifiable on-chain 4/ No expertise required! You deposit $USDC, $wETH, or other supported assets, and the vaults handle the rest. It's DeFi lending made simple. 5/ How secure is it? ☑️ Term Vaults are non-custodial. ☑️ Funds are locked in immutable smart contracts. ☑️ Protected by strict smart contract-enforced constraints. ☑️ Third-party audits reinforce safety. Your funds, your control. 6/ Who can benefit? Passive lenders who want set-it-and-forget-it lending. Yield hunters tired of inefficiencies in floating-rate protocols. Risk-conscious DeFi users who want professionally curated and tailored strategies, not a one-size-fits-all approach. 7/ Getting started is easy: > Pick a strategy based on your risk preference. >> Deposit your assets. >>> Relax while the vault optimizes yield. Why work harder when you can let your money work smarter? Start your Vaults journey →

Term Labs

632,216 views • 1 year ago

Which Mortgage Rate Now? As Fixed Rates move into the 4% Range (that Sweet 3.69% is GONE) Borrowers must decide what to do now? Take a Fixed Rate for safety or take Variable expecting cuts? Watch the Angry Mortgage Podcast for answers
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Which Mortgage Rate Now? As Fixed Rates move into the 4% Range (that Sweet 3.69% is GONE) Borrowers must decide what to do now? Take a Fixed Rate for safety or take Variable expecting cuts? Watch the Angry Mortgage Podcast for answers

Ron Butler

59,373 views • 1 year ago

Max leverage, minimal effort 🎰 This week’s Crypto Yield Curve pinpoints the pros and pitfalls of top stablecoin leverage strats - from YB and PT collateral loops, to variable-fixed and fixed-fixed rate plays Tune in now...
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Max leverage, minimal effort 🎰 This week’s Crypto Yield Curve pinpoints the pros and pitfalls of top stablecoin leverage strats - from YB and PT collateral loops, to variable-fixed and fixed-fixed rate plays Tune in now...

Rheo

17,026 views • 11 months ago

The future of DeFi isn't just about decentralization; it's about credit, compliance, and confidentiality at scale. Episode 2 of the Onchain Economy series just dropped, and Jazzi Cooper details 3 core features of the XRPL: ↳ Multi-Purpose Tokens (MPTs) ↳ Permissioned DEX ↳ Native Lending Protocol This is the blueprint for institutional finance onchain. Watch the full episode here:
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The future of DeFi isn't just about decentralization; it's about credit, compliance, and confidentiality at scale. Episode 2 of the Onchain Economy series just dropped, and Jazzi Cooper details 3 core features of the XRPL: ↳ Multi-Purpose Tokens (MPTs) ↳ Permissioned DEX ↳ Native Lending Protocol This is the blueprint for institutional finance onchain. Watch the full episode here:

RippleX

141,800 views • 9 months ago

Thousands of tokens, NFTs, and TCG cards on Solana now have access to a worldwide, permissionless credit desk. Jupiter Offerbook is now in Public Beta, which means you can borrow against anything at a fixed rate and for a fixed term. Offerbook is different from every lending protocol you've ever used. Here's how it works:👇
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Thousands of tokens, NFTs, and TCG cards on Solana now have access to a worldwide, permissionless credit desk. Jupiter Offerbook is now in Public Beta, which means you can borrow against anything at a fixed rate and for a fixed term. Offerbook is different from every lending protocol you've ever used. Here's how it works:👇

Jupiter

183,604 views • 1 month ago