MORPHO $MORPHO

Lending optimiser turned full-stack lending primitive. Token was issued in 2022 but non-transferable for 2 years to align long-term holders. Heavy DAO + strategic-partner allocation.

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Total supply

1B MORPHO

fixed at launch

TGE circulating

2.3%

97.7% locked

Allocations

distinct line items

Launch

Nov 2024 (transferable)

Ethereum

Distribution

Schedule of allocations

1
MORPHO DAO
Treasury controlled by token-holder governance. Funds grants, security, contributors via on-chain votes.
35.40%
60 MO LIN
2
STRATEGIC PARTNERS
Backers across multiple rounds (a16z, Variant, Coinbase Ventures et al). Token transferable since 2024 vote.
27.50%
6 MO CLIFF · 36 MO LIN
3
FOUNDERS
Morpho Labs founding team. Subject to extended lockups beyond the standard contributor schedule.
15.20%
6 MO CLIFF · 36 MO LIN
4
MORPHO ASSOCIATION
Non-profit entity supporting the protocol. Held in reserve for ecosystem development.
6.60%
60 MO LIN
5
CONTRIBUTORS
Reserved pool for future hires and active contributors.
5.80%
6 MO CLIFF · 36 MO LIN
6
RESERVE
Strategic reserve for unforeseen needs, M&A, partnerships.
4.90%
60 MO LIN
7
USER REWARDS
Distributed to active users / borrowers / lenders via the Universal Rewards Distributor.
4.60%
50% TGE · 24 MO LIN

Key takeaway

Two years of non-transferability filtered out short-term speculation before the trading market opened — by then, holders were governance-active and committed.

Design notes

TOKEN EXISTED ON-CHAIN FOR 2 YEARS BEFORE BECOMING TRANSFERABLE.
NON-TRANSFERABILITY FILTERED OUT SPECULATION — REAL GOVERNANCE FORMED FIRST.2yrs of patience
NO DEDICATED TGE AIRDROP — REWARDS DISTRIBUTED CONTINUOUSLY VIA ACTIVITY.

Use as your starting point

Open the MORPHO tokenomics in Token Economics, edit the allocations, change the vesting, see the sell pressure live. Free, no signup.

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