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Author: Paul Veradittakit, Pantera Capital partner; Translation: 0xjs@作 作 作 作 作
Key points:
*Morpho is surpassing traditional protocols such as Compound, changing the DEFI pattern, and showing the power of its innovative loan model.
*Originally used the MORPHO optimizer (Optimizers) to directly point the point -to -point credit quota. Morpho has now expanded to including Morpho Blue. It uses point -to -pool models to combine the advantages of the two beauty to improve efficiency.
*These two models solve the problem of low -efficiency problems of the system based on the system of fund pools, such as insufficient capital utilization.Optimizers optimize the direct match between the lender and the borrower, and the Morpho Blue provides an independent loan pool with a higher loan value ratio.
*Morpho’s total borrowing value has reached an important milestone, and Morpho Blue quickly caught up, accounting for a large part of Morpho locking total value (TVL) in a short time.
Foreword
DEFI is completely changing our way of thinking about financial services and challenging traditional banks and loan structures through breakthrough innovation.In various agreements on Ethereum, Morpho stood out, and recently surpassed Compound in total borrowing value.This achievement not only highlights the effectiveness of the Morpho innovation loan model, but also marks the wider changes in digital asset management in the entire DEFI field.Morpho was originally known for its point -to -point loan provided by Morpho Optimizers. With the launch of Morpho Blue, Morpho has been further developed. This model enhances the traditional fund -based loan system to provide more efficient and stronger adaptabilityFinancial solution.
Current DEFI pattern overview
DEFI is based on the modern financial pattern, introducing blockchain -based solutions to redefine the method of acquisition and provision of credit.The industry is dominated by platforms such as AAVE and Compound and promoted billions of dollars in transactions through dynamic lending models.Here, users deposit digital assets into the public capital pool, and others can borrow from it to create a dynamic ecosystem that maintain liquidity in the ecosystem and actively exchange assets.
Despite the success, the traditional capital pool loan model is not without shortcomings, especially in terms of processing capital efficiency.A large part of the deposit in assets is still idle, unable to generate rewards and cause low system efficiency.
Morpho solves these low -efficiency problems through its point -to -point (P2P) borrowing mode.By directly matching the lender and borrower, Morpho not only optimized the capital utilization rate, but also increased interest rates provided to both parties.Its system covers the matching engine on the existing protocols such as AAVE and Compound, and users can enjoy the benefits of the established capital pool and the additional advantages of potential direct matching.If it is not feasible to match directly, users can still benefit from the liquidity of the basic fund pool to ensure that the Morpho retains the basic advantages of the capital pool -based model and innovate its functions.
Morpho’s rise
Looking at the progress of Morpho, when the total value of its loan climbed to $ 903 million, which exceeded the compound of $ 865 million, it realized an important milestone.This is not just a victory; this proves that the agreement enhances the ability of the lending experience and reflects the increasing demand for more direct financial interaction in the ecosystem.
At the beginning, this growth was driven by Morpho Optimizers. The first version of MORPHO was based on AAVE and Compound. It aims to solve the low efficiency of these platforms by creating points between funds and borrowers to solve the point -to -point credit limit.question.
However, the newer product Morpho Blue has begun to catch up significantly, accounting for 40%of Morpho’s total lock value (TVL) in just three months.Morpho Blue uses points similar to AAVE and Compound, but it is performed in a more efficient way. It is characterized by an independent loan pool with a higher loan value ratio and higher utilization rate.
Impact and Future Revelation
The rise of Morpho has a profound impact.With the rise of P2P lending, we may see a change in the DEFI financial market to more competitive and efficient.However, this evolution will require the industry to respond to new challenges, such as the complexity of the management point -to -point interaction and ensuring strong security measures for potential risks.Morpho Blue aims to solve the vulnerability and inefficient problem of currently collecting loan models. It is a simple and immutable primitive that separates core loan agreements from risk management and user experience layers to create an openness for risk and product managementmarket.With a market creation and customized risk overview, Morpho Blue provides a flexible alternative to a knife -cut model in AAVE and Compound.Over time, as Morpho Blue continues to expand its influence and reshapes the pattern of decentralized finance, Morpho Optimizers will be discarded.
Morpho founder
The helm of Morpho Labs is the co -founder Paul Frambot and Merlin Egalite. Their comprehensive professional knowledge is pushing the platform to a new height.Paul has the background of the blockchain and distributed system of Paris Institute of Technology. Merlin is an experienced software developer from Centralesupélec. They are promoting Morpho to develop into a safe, open and elastic borrowing agreement.
in conclusion
Morpho’s successful explanation of DEFI’s dynamic nature and its continuous innovation potential.Morpho is booming by challenging the established financial model and introducing more efficient solutions.It is paving the way for Defi’s new era.Looking forward to the future, the continuous development of the DEFI platform like Morpho will undoubtedly help shape the future financial pattern.
