Today we're releasing the Tenor docs. Learn how Tenor extends @Morpho Midnight.

Fixed-rate borrowing and lending markets built on @Morpho Midnight. Tenor offers asset managers and borrowers an institutional-grade platform to settle OTC agreements onchain, set renewal policies, and create conditional offers — all in one place. @TenorFinance joins Vault Summit NYC as Gold Sponsor. June 5, New York · nyc.vaultsummit.xyz

Fixed-rate, fixed-term onchain lending markets will unlock new features necessary for institutional adoption. @pygendron, Co-Founder at @TenorFinance will take the stage at Vault Summit NYC. June 5, NYC · nyc.vaultsummit.xyz

The pessimism in some circles belies the entrepreneurial activity in crypto right now. Here's the 5 areas I'm spending most of my time on rn: – Higher-order DeFi – New consumer markets – Onchain privacy – Crypto as a launchpad – Quantum resilience pmayr.xyz/where-im-spending-…

M̶o̶r̶p̶h̶o̶ ̶M̶a̶r̶k̶e̶t̶s̶ ̶V̶2̶ -> Morpho Midnight For those wanting an early look at what we've been building on Midnight, Morpho's new intent-based fixed rate lending protocol — reach out. We're kicking off the Tenor Private Beta in the coming weeks as Midnight and Tenor contracts move through audits

As we approach the official release of Morpho’s fixed rate markets protocol it’s becoming clear that it should not be seen as an iteration of the existing Morpho variable rate markets (today known as Markets V1). It is a completely new paradigm that’s unlike anything DeFi has seen before. Fixed rate markets are an extension of Morpho's offering, not a replacement. Variable rate markets remain a foundational part of DeFi for the few years to come. The two will complement one another. For that reason, we’re drop the versioning naming we've been using up until now, and the protocols will no longer be named Markets V1 and Markets V2. We’re changing: Markets V1 → Morpho “Blue” (as it was originally) Markets V2 → Morpho “[TBA]” Blue introduced permissionless open-term variable rate markets, with externalized risk management. [TBA] will introduce fixed term, fixed rate, intent lending, with externalized risk and rate management. A completely different structure for pricing and matching that will take Morpho from $10B to $100B . As a side note: Morpho Vaults retain versioning because Vaults V2 is a direct improvement designed to supersede Vaults V1, exactly what versioning is meant to signal. It has been an incredibly hard 2 years of building [TBA], but we are very excited to share more information about Morpho fixed-rate markets soon.

The biggest lending book in 2025 was Telegram. In 2026, it will be Market V2.

Lending is one of DeFi’s killer apps In this week’s Work in Progress, @JackLongarzo @jessewldn and I discuss the evolution and trade-offs in lending protocols: from pooled liquidity —> isolated markets —> modular, open design Plus, what it means for builders and new users

The 1→100 moment for vaults is here. Morpho Vaults V2 is a new open-source standard designed to power the future of asset curation. Live now on @ethereum and soon onchain everywhere.

Onchain borrowing is about to change from Pools to Peer-to-Peer. Today, most borrowing relies on pools with interest rate models (IRMs) tied to utilization. Soon users will set rates directly 🧵

🎙️ New @edge_pod 🦋 Morpho V2 and Collapsing The Cost of Trust With DeFi 0:00 - Intro 6:01 - The vision for Morpho 9:02 - Modular approach 10:35 - The role of risk curators in Morpho 13:11 - Integration with @coinbase 20:56 - Education aspect of DeFi loans 24:34 - Exploring RWAs on Morpho 28:01 - Decentralized BD for scaling Morpho 30:01 - How Morpho makes money 32:49 - Transitioning to token-only model 37:40 - V2 fixed rates and institutional focus 42:35 - V2 will be multichain 44:50 - The future of Morpho pricing trust 47:24 - Closing 🙏 Thanks to @MorphoLabs CoFounder & CEO @PaulFrambot for joining us!

This captures Morpho's mindset well: we always aim for win-win situations where all stakeholders benefit from collaboration. Some examples: - @sparkdotfi @pendle_fi @ethena Morpho - @sparkdotfi @coinbase Morpho

“I’m super excited about Morphos V2 announcement and what that's going to enable. We've actually already invested in a team that is building on top of that. Multiple of our portfolio companies are actually gonna be building on Morpho V2. It's just amazing infrastructure…”

0/ How the DeFi Mullet will bring the benefits of Ethereum to billions of real users. A guest thread by @PaulFrambot from @MorphoLabs.

Welcome @TenorFinance as an official collaborator for Morpho V2 🦋🎶 Tenor is developing a platform for end-users and large-scale integrators to help scale Morpho V2's fixed-rate lending into the trillions