Bootstrap the initial activity and liquidity of the protocol.
Bootstrap interest in the Morpho Protocol and get people to understand the new concepts it brings.
Build trust in the protocol.
The initial distribution began on 08/06/22 at 5 pm CET to reward initial users and will end on 20/09/22 at 5 pm CET. This Age is divided into three Epochs of around thirty-three days.
Five million MORPHO tokens will be allocated during this period.
Age 1 - Epoch 1
Age 1 - Epoch 2
Age 1 - Epoch 3
08/06/22 - 13/07/2022
13/07/22 - 16/08/22
16/08/22 - 20/09/22
Tokens are distributed to Morpho lenders and borrowers according to the following rules:
To favor rational behaviors, each market in Morpho-Compound receives a share of the total amount distributed. This share is proportional to the sum of the supply and the borrowed volume of the corresponding market on Compound.
For each market, the supply side and the borrowing do not share the rewards evenly. The supply side gets a share equal to p2pIndexCursor, and the borrowing side gets 1-p2pIndexCursor.
As a reminder, p2pIndexCusor is the position of the P2P APY within the spread. If the P2P APY is in the middle of the spread, it is 50%.
The first epoch of the first age is in progress and will last one month.