We’ve hired 20+ exceptional people so far this year. A few things stand out: - Top talent is increasingly concentrating in a smaller number of teams - The majority of our hires come through referrals - Hiring former leaders as ICs is incredibly powerful in the AI era - The crypto talent market has become much more favorable for ambitious companies We’re still hiring aggressively across GTM, engineering, product, ops, and more! We can also craft tailored roles for you if you can show you can make an impact

Every USDC market listed on @Morpho Blue is now available on Morpho Midnight! They mirror the exact parameters as their counterpart on Blue listed by curators, with just two adds: a fixed rate and a maturity date. With multi-market limit orders, users can place orders across any isolated markets with the same liquidity!

Morpho Midnight’s first major integration went live on Coinbase yesterday! For the first time, consumers at scale can access predictable borrowing rates powered by DeFi. Can’t wait to scale this further as the billions in Morpho Vaults will soon be able to fund these loans!

Today, we’re excited to announce the launch of @coinbase fixed rate loans, powered by @Morpho Midnight! Morpho × Coinbase products have been immensely successful and helped open a new category in finance: the user experience of fintech apps, but with better financial products thanks to DeFi’s open and competitive rails. We’re now building on that foundation and starting to scale: new loan types and use cases, bringing onchain credit one step closer to the scale and diversity of global credit markets.

I’ve been asked a lot what it’s like to partner with both Coinbase and Robinhood when they compete so fiercely. The answer comes down to Morpho’s fundamental purpose: connecting. Morpho is an open credit network designed to connect lenders and borrowers across any boundary (social, geographic, political, …). More borrowers create more demand for capital. More lenders create more competition to fund borrowers. Over time, that means deeper liquidity and better terms for everyone using the Morpho network. Competitors sharing infrastructure isn’t unique to Morpho. Banks compete fiercely for customers while relying on shared payment networks like Visa. Tech companies compete while building on the same internet protocols like HTTP. Credit should work the same way: it works better when you are maximally connected. Our ambition is to bring as much of the world's credit onto one shared network as possible. If you’re building on Morpho, expect us to keep connecting new companies, new markets, new ecosystems, including the ones you compete with, because this is what will make your financial products stronger!

After @base, Midnight is now live on @Ethereum. Fixed rates unlock something DeFi hasn’t really had: cross-chain rate arbitrage. Until now, borrowing on one chain to lend on another meant betting that interest rates wouldn’t move while you bridged. Now you can lock in rates, making this possible. Over time, this will build liquidity bridges between different instances of Midnight across chains.

One of the defining, and hardest to achieve, features of Morpho Vaults is that they are noncustodial by design. A curator cannot increase a vault’s risk profile without first going through a timelock. During that window, users can always exit, either through a standard withdrawal or by redeeming their shares for the vault’s underlying market positions: an in-kind redemption. Today, we’re making this protection easier to access with a simple in-kind redemption flow in the Morpho App.

Today we launched Lend Callbacks, enabling users to quote on @Morpho Midnight while earning the variable yield from Morpho Blue markets as a floor until orders are filled. This is a massive unlock for lenders that can now earn what they already earn on Morpho Blue plus the opportunity to earn more by making lend offers at a rate that is higher than the variable rate. If not filled, they earn, at worse, the same rate, and a higher fixed rate if matched (hello Morpho Optimizer :)).

On Morpho Midnight, rates are set by the market, not by a formula. That creates a major opportunity for curators and advanced DeFi users. This open-source Quoter Bot gives anyone a starting point for exploring market making, while helping existing quoters refine their strategies and implementations. As we add callback support enabling Morpho Blue yield on lend offers, yield-curve quoting, cross-book logic, cross-chain markets, and secondary markets, quoting will become more powerful every day.