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

TLDR:

🔹 Coinbase crypto-backed loans are powered by Morpho

🔹 Morpho core contracts are deployed across multiple new chains

🔹 Bundler3 is now available as a public good

🔹 Highlights from the Morpho Ecosystem

Highlights of the Month

Coinbase introduced crypto-backed Loans powered by Morpho

This marks the first time a large-scale consumer application serving millions of users has directly integrated DeFi infrastructure to power its core financial services.

The integration is built on Morpho Markets. Specifically, it taps into the cbBTC/USDC market on Morpho.

Here is the announcement from Coinbase, and how easy it is to get an onchain loan via the Coinbase App:

Crypto-backed loans are progressively rolling out to Coinbase users. Currently, the integration has facilitated $2.5M in USDC loans with close to $5M in cbBTC collateral.

Morpho Everywhere

The first batch of Morpho core contracts has been deployed on Polygon POS, World Chain, Ink, Arbitrum, Scroll, Fraxtal, and OP Mainnet.

These deployments are infrastructure-only, meaning they won't initially be supported on the Morpho App or receive MORPHO rewards.

Independent contributors on these chains are encouraged to build on Morpho, following models similar to Moonwell on Base. Builders can operate under their own brands, pursue chain-specific grants, and apply for MORPHO grants to drive growth.

Introducing Bundler3

Morpho Labs introduced Bundler3 - an open-source contract that lets users batch any onchain actions in one click, with any wallet they may have (including EOAs).

Bundler3 is available as a public good.

Here is an introduction of Bundler3 and how it works:

Ecosystem Highlights

Morpho is a permissionless financial infrastructure - many teams are building their specific use cases on top of Morpho.

Here are a few to highlight from the past month:

1. Gauntlet proposed that the Compound DAO deploy on Morpho Vaults instead of a separate Compound Instance on Polygon.

2. AgentKit from Base allows developers to build Agents that interact with Morpho Markets and Vaults on behalf of users.

3. Brahma launched its own DeFAI earn product that allows AI Agents to allocate capital on behalf of users between different Morpho Vaults.

4. Balancer's Boosted Pools now tap into Morpho Vaults to provide additional yield for LPs.

5. DeFi Saver launched its Boost on Target Price on Morpho to help its users take on leverage.

6. Seamless launched its own USDC Vault on Based Morpho as part of its multi-step integration on top of Morpho.

7. Balmy launched its incentive program for its Earn Guardian on top of Morpho Vaults from Moonwell and Gauntlet.

8. Resolv Labs, Stakestone, Kelp DAO and Level now have new Morpho Markets.

9. Avantis is building multi-collateral lending use cases on top of Morpho.

10. Index Coop migrated its hyETH strategy to a Morpho Vault to take advantage of the lower cost and higher yield for its users.