Oh wow, lots of memories from Morpho Optimizer. This made me want to share a few stories about the original story, vision, and name of Morpho. Morpho Optimizer was Morpho’s first version (now deprecated). It grew to $ 1B+ in deposits and kicked everything off for us. The idea was simple: we built a peer-to-peer matching layer on top of existing lending pools to optimize rates for lenders and borrowers, while piggybacking their liquidity. At the time, the vision was to progressively evolve the Morpho Optimizer matching engine so it would rely less and less on the pool model as a fallback, but on active participants, until one day it could metamorphose: from the little caterpillar living inside the apple into a beautiful independent butterfly flying on its own. That was already in the original 2021 whitepaper. And yes, that is why we are called Morpho (at least the main reason). That said, we had to pause that vision because we had one big realization: the biggest problem in lending markets was not just capital efficiency. It was resiliency. As one of the largest integrators of lending pools, we got to experience firsthand what it meant to build a multibillion-dollar integration on top of DeFi infrastructure. And honestly, it felt to risky to support global financial infra. That is why we built Morpho Blue: immutable and simple code, isolated lending markets, infrastructure that gives integrators control, and a lending stack that can actually scale safely. BUT: Morpho Midnight brings us back to the original vision of Morpho Optimizer: becoming fully free from legacy constraints and building a true market for credit. Midnight also has a very powerful feature called callbacks: it lets lenders and borrowers use pools "as they wait for a peer-to-peer match" This is what I was secretly most proud of in Morpho Midnight: it is both the ultimate vision of both Morpho Optimizer and Morpho Blue at the same time