Decentralized Finance (DeFi) Protocol Morpho Launches on Ethereum Layer-2 Base
Morpho, a DeFi lending and borrowing protocol, has made history by becoming the first layer-2 protocol to launch on Base, Ethereum’s L2 scaling network introduced by Coinbase in 2023. Originally on the Ethereum blockchain, Morpho’s move to Base aims to leverage the expanding DeFi ecosystem for increased liquidity and capital utilization.
CEO Paul Frambot Embraces Expansion to Base
Paul Frambot, the CEO of Morpho Labs, expressed his initial opposition to expanding onto a second chain but has now recognized the opportunities presented by Base. In a recent post on X, Frambot envisions Morpho becoming the leading lending and borrowing protocol on Base, surpassing its Ethereum version within a year.
Features and Opportunities for Growth
The launch of Morpho on Base introduces new features such as MetaMorpho Vaults for optimized yields through passive lending and borrowing on Morpho Markets. With Base gaining traction in the market, attracting new users will be vital for Morpho’s growth. DeFiLlama data shows Morpho currently has a TVL of $1.82 billion, marking a significant increase from the start of the year.
