Morpho Labs, a DeFi lending protocol backed by a16z, announces the launch of Morpho Blue on the mainnet

Odaily News Morpho Labs, a DeFi lending protocol supported by Variant and a16z, announced on the X platform that Morpho Blue has been launched on the mainnet. The first orphan markets listed on the Morpho interface are wstETH/WETH (liquidation LTV = 94.5%) and wstETH/USDC (liquidation LTV = 86.0%), with more markets to be added later. The initial incentives for the wstETH market include 1.4 million MORPHO and 132 wstETH. These incentives will be distributed over a three-month period, with rewards gradually increasing during this period. It is reported that Morpho Blue can create isolated lending markets by specifying any loan assets, mortgage assets, liquidation LTV (LLTV), oracles and interest rate models. Morpho also introduces AdaptiveCurveIRM, an immutable rate model (IRM) designed specifically for Morpho Blue, which aims to maintain the ratio of borrowed assets to supplied assets (commonly known as utilization) to a target of close to 90%. In 2022, Morpho completed US$18 million in financing through native token sales, led by a16z and Variant, with participation from Nascent, Semantic Ventures, Cherry Crypto, Mechanism Capital, Standard Crypto and Coinbase Ventures.