im thrilled to announce im now head of engineering @MorphoLabs 🦋
ive spent most the last 7 years in defi (fun fact - my first startup was built on @compoundfinance) and im as bullish on morpho as i am @Uniswap.
why morpho is inevitable and what i’ll be focused on 🧵
1/ it’s the only lending architecture that scales
a tsunami of loan-worthy assets are coming onchain and no one can manage risk for all of them.
morpho’s key insight: separating lending infra from risk management enables an entire ecosystem of experts to do it for you.
2/ the design is elegantly simple
morpho v1 is <600 lines of code. how it works:
• lending markets are created with static risk parameters. like @Uniswap pools, anyone can create a market for a token on @Morpho
• vaults allocate to different markets on behalf of users. they’re managed by expert risk curators like @gauntlet_xyz
• lenders pick vaults matching their risk/yield preference
3/ it’s permissionless incentive alignment at its finest
builders focus on building, curators focus on optimizing risk/return for users, users focus on picking vaults they like.
this frees up morpho to innovate (fixed-rate lending coming soon ™️), empowers curators to build sustainable businesses ($30M+ in revenue YTD), and provides users the fairest lending/borrowing rates.
the ecosystem thrives when everyone focuses on what they do best.
4/ institutions are coming and they’re choosing @MorphoLabs
turns out separating lending infra from risk management makes sense to tradfi too.
@Coinbase integrated markets and vaults into the core cex product and has facilitated $1B+ of cbBTC backed loans and $300M+ of USDC lending for their users.
@cryptocom @SocGenForge and many other tradfi/fintech giants are building on morpho too (announcement of many announcements 👀).
5/ the next challenge is fixed rate lending and scaling access
morpho v2 is well in the works and will bring liquid fixed rate lending to defi at last.
my focus: help get v2 across the finish and scale the products and apis that make this powerful protocol accessible to the world.
6/ the team is elite, join us if you are too
the team has an awesome mix of talent, humility, and passion. if you love defi and have an all-star skillset, check out our open positions or hmu. we always have room for exceptional builders!
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