Odaily News DeFi lending protocol Morpho Labs announced that the preparations for MORPHO are complete and the token transfer function will be enabled on November 21. MORPHO is the governance token of the Morpho protocol. Morpho DAO (composed of MORPHO holders and delegators) is responsible for managing the Morpho protocol. The governance system uses a weighted voting system, in which the number of MORPHO tokens held determines the voting rights.