The Morpho Olympics has officially begun!

The program is designed to strategically align risk curators with the success of Morpho by awarding them MORPHO based on the total supply in their vaults. Up to $10M MORPHO is allocated to the event and will be distributed to curators quarterly.

If you aren’t familiar with risk curators, they are teams responsible for building lending vaults that allocate deposits to the Morpho Blue markets. Users can deposit into the vaults to optimize risk-adjusted yields from over-collateralized lending.

Risk curators play a vital role in Morpho's growth, acting as the primary intermediary between passive lenders and Morpho Blue. They create markets, curate risk, optimize returns, and manage liquidity. Theoretically, the better a curator's vaults perform, the more deposits they will receive. The more deposits a vault gets, the more Morpho grows.

Morpho Olympics will make curating vaults more attractive, provide curators with the resources to expand, and ultimately accelerate the growth of Morpho.

Eligibility and Grant Calculations

Any curator of MetaMorpho vaults can be eligible to MORPHO token grants. The amount of MORPHO received is based on the Total Supply of all a curator’s vaults.

For the Morpho Olympics, Total Supply refers to the 2-month average of deposits (USD) that can be borrowed. The vaults must be open to user deposits and excludes from algorithmic market operations such as the DAI deposited in Spark’s DAI MetaMorpho vault.

The following chart illustrates the amount of MORPHO granted per Total Supply threshold:

If a curator meets a Total Supply threshold during an assessment, the payment they receive at this assessment will be Cumulative Grant amount for that threshold minus and any grants previously received.

Grant Disbursement

The assessments for grants will happen every 3 months and will continue until either $10M of MORPHO is awarded or 24 months after the commencement of the program.

Assessments will occur on:

• July 31st

• October 31st

• January 31st

• April 30th

Within 7 days following the assessment, a forum post will be published, detailing each eligible curator and their corresponding grant.

Grants will be distributed to vault curators within 30 days of the assessment, following a one-year linear vesting schedule.

Morpho DAO reserves the right to withhold a grant subject to the guidelines described in the forum post.