1/ Right now you can borrow USDC against wstETH for free.
The wstETH/USDC market on @MorphoLabs costs 2.8% APR to borrow. Live incentives cover all of it, so the net rate is 0%.
But the 0% isn't the real story. Where the money comes from is.
5/ And it feeds itself. More borrowing means more positions to liquidate, each liquidation recaptures more value, and that value funds the next round of incentives, which brings in more borrowing.
A flywheel funded by the value most markets just leak.
The Api3 shields are up. 🛡️
We've partnered with @HypernativeLabs to add an additional protective layer over our Morpho vaults - a specialized second set of eyes watching for malicious actors, on top of the security already built into our curation and oracle stack. 🧵
And it doesn't stop at the vaults.
That additional protective layer extends to our price feeds - the data DeFi runs on. As AI raises the stakes on-chain, our first-party oracles gain another independent line of defense on top of their own. 🔮
New Feature: Discover curators on Superform!
50 curators are now live on Superform across @Morpho, @eulerfinance, and @GearboxProtocol
Use a beautiful interface to learn more about curators, view stats, and find all their vaults from one unified location.
Back with the first release of our price feeds nearly 4 years ago, our contracts were immutable and allowed people to build their own aggregations from immutable first-party sources.
This setup required more work from the price feed consumer, but…
do oracles too
lots of skeletons in the closet there
I was fully serious when I said last week that making sure all our oracles are resilience and decentralization-maxxed is more important than stage 1 -> stage 2
People chose to built MultisigFi instead of removing a major risk factor due to convenience.
Our initial iteration of price feeds that are immutable, while being composable to the risk preference of your liking can still be made available.
Yield is not the product. Your principal is the product. Your risk manager or curator should have their money in the same position as yours.
Otherwise what's the point?
This is the core thesis of why we shifted from sitting on our treasury to actively deploying and curating it on @Morpho.
Risk control is everything in lending out assets safely and @Morpho gives us the tools to tailor it to our liking.
Aave has always been the best place to post collateral, but Morpho has become the best place to lend capital. The Kelp fiasco formalizes this reality.
Morpho lenders get tighter spreads, more granular risk control, and market-clearing interest rates.