Original | Odaily Planet Daily
Author | Asher
Early this morning, Morpheus, an AI concept project with over 100,000 ETH staked, announced the opening of MOR token applications and transactions . In addition, LayerZero Labs published an article on the X platform mentioning Morpheus, saying that its ecosystem native token MOR has now become a token that meets the OFT standard on Ethereum, Arbitrum and other L2. So far, over 200,000 MOR tokens have been claimed, and the transaction volume has exceeded $10 million. So, can an AI concept project with over $320 million TVL and that is currently attracting much attention become a leader in the new round of market conditions? Next, Odaily Planet Daily will take you to learn about Morpheus and its token economy.
Morpheus Full Analysis
Project Description
Image source: Official Twitter
Morpheus is an AI concept project that aims to incentivize the development of a personal general AI network. Its goal is to provide services to ordinary users who want to simplify Web 3 interactions through AI agents, and to provide a platform for developers to build and optimize intelligent agents. At the same time, it also provides incentives for capital and computing resource providers. In addition, Morpheus uses Wormholes NTT framework to make the MOR token natively multi-chain. In general, there are the following innovations:
Intelligent Agent Concept: Morpheus provides a personal general AI that acts as an intelligent agent that can connect users wallets, Dapps, and smart contracts.
SmartContractRank algorithm: This algorithm scores and recommends the best smart contracts for users, increasing the transparency and efficiency of interactions;
Combination of decentralized cloud storage and local storage: By combining decentralized cloud storage and local storage, users’ data and long-term memory of application connections can be preserved, providing richer context for intelligent agent actions.
Token Economic Model
According to the document information, the total supply of Morpheus ecosystem native token MOR is 42,000,000 , and the specific distribution ratio is as follows:
Coder rewards: 10,080,000 MOR, 24% of the total supply ;
Capital provider rewards: 10,080,000 MOR, 24% of the total supply ;
Compute provider reward: 10,080,000 MOR, 24% of total supply;
Community rewards: 10,080,000 MOR, 24% of the total supply;
Protection funds reserved: 1,680,000 MOR, or 4% of total supply.
Regarding the release of MOR tokens, the block reward starts at 14,400 MOR tokens per day, and then decreases by 2.468994701 MOR tokens per day until the reward reaches 0 on day 5833 (about 16 years). After that, the team believes that as long as Morpheus is widely used, fees will become the main incentive. Pay users for data, pay computing providers, pay capital providers, and pay coders.
Details on staking stETH and claiming MOR
Morpheus started its MOR token fair sale on February 8 this year, and users can get MOR token rewards by staking stETH. Since MOR tokens are not transferable within the first 90 days, MOR was officially traded on the secondary market last night.
For users who did not participate in the early stage, they can still obtain MOR token rewards by staking stETH. The minimum deposit amount for each transaction is 0.011 stETH. Users can apply to withdraw the staked stETH at any time, but it takes 7 days to unlock.
Regarding the MOR token income, lets take a simple example. If user A deposits 1 stETH, and at the same time there are only 9 other people in the entire network who deposit 1 stETH each, then user A will receive a 10% token reward during the deposit period. To claim the token reward, enter the dashboard and click Claim MOR.
From the data on the dashboard above, we can see that at the moment when MOR tokens are available for redemption, there are still 107,000 stETH staked in them, and the current daily reward amount of MOR tokens is about 3,400, which is worth about US$282,000 at the current price.
MOR Secondary Data
Currently, MOR token claims are online and can be traded in the secondary market. The MOR contract code is: 0x092bAaDB7DEf4C3981454dD9c0A0D7FF07bCFc86; the trading pair MOR/ETH that provides liquidity is: 0xE5Cf22EE4988d54141B77050967E1052Bd9c7F7A.
DEXscreener data shows that excluding problems such as insufficient initial opening liquidity, the price of MOR tokens has reached a high of over $170 and a low of below $60 after trading was opened on the Arbitrum chain. The current price is $81, a drop of 3.7% in one hour, with a total market value of over $19 million.
Image source: DEXscreener
