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The missing piece for onchain finance is here Fixed rate, fixed term credit markets Morpho Midnight is live

296,590 次观看 • 3 个月前 •via X (Twitter)

35 条评论

Morpho 🦋 的头像
Morpho 🦋3 个月前

Morpho Midnight is deployed on @base, with more networks to follow. Read the full announcement:

Morpho 🦋 的头像
Morpho 🦋3 个月前

Access Midnight Markets via the new Markets App

Base 的头像
Base3 个月前

🕛

K3 Capital 的头像
K3 Capital3 个月前

Midnight isn't an ending. It's when the new day starts. For Morpho, and for us as risk curators

Zama 的头像
Zama3 个月前

🔥

RedStone ♦️ 的头像
RedStone ♦️3 个月前

Midnight is here 🕛

Maple 的头像
Maple3 个月前

Onchain credit is leveling up🕛

Aerodrome 的头像
Aerodrome3 个月前

The 🌎 is coming onchain.

Centrifuge 的头像
Centrifuge3 个月前

🕛

Securitize 的头像
Securitize3 个月前

Meet me on Morpho at Midnight 🕛

Pyth Network 🔮 的头像
Pyth Network 🔮3 个月前

Time for midnight!

Sentora 的头像
Sentora3 个月前

We stayed up for this one🕛

Zyfai 的头像
Zyfai3 个月前

👀

Steakhouse Financial 的头像
Steakhouse Financial3 个月前

👀

CAЯVEЯ de Medici 🎩🐸 的头像
CAЯVEЯ de Medici 🎩🐸3 个月前

When can I borrow against my $tibbir?

Base Posting 的头像
Base Posting3 个月前

based

Spark 的头像
Spark3 个月前

🦋

Ramp Network 的头像
Ramp Network3 个月前

🕛

ETH Daily 的头像
ETH Daily3 个月前

🕛

NEO 的头像
NEO3 个月前

gribbit

Credora 的头像
Credora3 个月前

Midnight time 🕛

CAЯVEЯ de Medici 🎩🐸 的头像
CAЯVEЯ de Medici 🎩🐸3 个月前

🐸🦋

Dennis Bree 的头像
Dennis Bree3 个月前

The fun always starts after Midnight!

CryptoDep 的头像
CryptoDep3 个月前

🔥 Congrats on the launch!

Paul 的头像
Paul3 个月前

nice

Thierry Edde 的头像
Thierry Edde3 个月前

@PaulFrambot fixed rate 🥶

0xyanshu (d/acc) 的头像
0xyanshu (d/acc)3 个月前

Massive! Congrats team, been waiting for this one for while. The Unlocks are massive for onchain credit.

Graham Ferguson 的头像
Graham Ferguson3 个月前

LFG

𝗺𝗶𝗴𝘂𝗲𝗹 的头像
𝗺𝗶𝗴𝘂𝗲𝗹3 个月前

🤍🦋

Clearstar Labs 的头像
Clearstar Labs3 个月前

👀

kugusha.eth 🦋 的头像
kugusha.eth 🦋3 个月前

tick tock 🕛

Sky 的头像
Sky3 个月前

👏

Wirex 的头像
Wirex3 个月前

Great work team, very excited for this next chapter 👏

Marcin Kazmierczak ♦️ 的头像
Marcin Kazmierczak ♦️3 个月前

Fixed rate and fixed term are what institutions expect. Midnight passed; a new unlock in front of us. Let's fly 🦋

ᕈulsar Money 的头像
ᕈulsar Money3 个月前

Congrats, team! 🫡 Proud to build together

相关视频

EXCLUSIVE: Morpho 🦋 CEO Paul Frambot 🦋 on how Morpho Midnight is new infrastructure for institutional private credit. This week, Morpho launched Midnight, which enables fixed-rate, fixed-term onchain lending, starting with one cbBTC/USDC market on Base across multiple maturities. This is unlike most DeFi today, where protocols like Aave and Compound set your risk, rate, and term using their formulas. This is not ideal for large institutions with their own risk appetite. Morpho 🦋 Midnight hands risk, rate AND term to the open market, so investors can set their risk appetite, and borrowers can apply to meet that in the marketplace. Lending on Midnight means buying a claim on future cashflows, where you pay 0.95 today, receive 1.00 at maturity. The difference (discount) is your rate as a lender. That's exactly how a zero-coupon bond works, the primitive bond markets are built on. Some other nuances that came out in the interview Prior fixed-rate protocols split liquidity into a pool per maturity, so markets stayed thin and most died. This is how a bond desk runs a book. Morpho aims to ensure liquidity isn't fragmented into individual pools. It offers source funds only at fill, and one balance sheet can quote fixed rates across all maturities at once. So you quote once in many places. The fees are capped in the code with settlement at 50bps a year, a lender fee at 1%, and governance can *never* raise them. Infrastructure that can't reprice you is infrastructure a treasurer can underwrite. Wall St is coming to these DeFi protocols For example, Apollo (roughly $940bn AUM) is contracted to buy up to 9% of MORPHO supply over four years. So I sat down with Paul Frambot, Morpho's CEO, days after his most ambitious launch yet. DeFi lending reached tens of billions without a single maturity date. Now we find out what it builds with one.

Simon Taylor

12,173 次观看 • 3 个月前