A monthly digest of what's happening in the Morpho Ecosystem.

Morpho enters infrastructure mode with the Morpho Stack—the full suite of Morpho smart contracts—now deployed across multiple new chains including Polygon POS, Arbitrum, Optimism, Scroll, Ink, World Chain, and Fraxtal. This first wave of deployments marks the beginning of Morpho's multichain strategy. Upcoming deployment batches will prioritize chains with confirmed interest from curators and builders.

Today, Morpho Labs has released Bundler3, an open-source smart contract that enables externally-owned accounts (EOAs) to execute a sequence of arbitrary calls atomically, including actions requiring approvals or callbacks.

Today, Coinbase announced the launch of crypto-backed loans, a new onchain integration that allows customers to borrow USDC using their Bitcoin as collateral. We’re proud to see Coinbase integrate Morpho into their app and believe other fintech companies could greatly benefit from integrating with and offering DeFi services to their users.

Today, Coinbase announced the launch of crypto-backed loans, powered by Morpho, enabling millions of users to get a USDC loan directly through Coinbase’s main app. This novel, fully onchain product combines Morpho’s highly efficient and open infrastructure with Coinbase's expertise in making crypto accessible to people worldwide.

Today, we’re announcing Morpho Vaults 1.1, an improvement to the widely adopted Morpho Vaults 1.0 that has become a staple of the DeFi ecosystem. This latest version retains the same core functionality of Morpho Vaults 1.0 while removing automated bad debt realization at the vault level, enabling greater adaptability for a broader range of integrations and use cases. In addition, Morpho Vaults 1.1 introduces several quality-of-life improvements for Morpho curators.

The Morpho DAO (”DAO”) has voted to enable the transferability of the MORPHO token, advancing Morpho’s mission to make financial infrastructure a public good. Since launching in June 2022, the DAO has progressively distributed ownership to the protocol’s users, strategic partners, risk curators, and other contributors aligned with Morpho's long-term vision. Now, by enabling token transferability, the Morpho DAO allows anyone to own and govern the Morpho network.

The views presented in this article reflect my personal opinions and research, and do not represent the official stance of the Morpho Association or any other organization. They are presented here for public feedback and for informational purposes.

Starting today, Morpho users can borrow against cbBTC as collateral. Day one support for cbBTC (Coinbase Wrapped BTC) is possible because of Morpho’s permissionless architecture that allows anyone to safely deploy isolated markets for new assets.