The Morpho Token, or MORPHO is the governance token of the Morpho Protocol. Morpho DAO - made up of MORPHO holders and delegators - governs the Morpho Protocol. The governance system uses a weighted voting system in which the amount of MORPHO tokens held determines voting power.
MORPHO holders will be able to vote on changes to the protocol, including:
  • Deploy Morpho core smart contract deployments across multiple protocols and networks;
  • Curate the list of markets listed and other important parameters;
  • Decentralize the hosting of the front end to the protocol and the governance;
  • Govern the DAO Treasury; and
  • Other proposals.
The token initially deployed by Morpho Association is currently non-transferable, which can be changed via a governance proposal.
The maximum total supply is 1,000,000,000 MORPHO.