To establish Morpho as a community-owned public good, the Morpho Association needs to decentralize the protocol it has launched. To do so, it introduced $MORPHO, the future governance token of the Morpho DAO.
Later on, this token will carry out a vote to:
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 using the Morpho.eth domain.
Govern the DAO Treasury.
Yet, this decentralization process must be carried out with the utmost care to develop the Morpho Protocol successfully.
The token initially deployed by the Morpho Association is non-transferable, and it will be up to the community to decide whether to make it transferable or not.
The maximum total supply is 1,000,000,000 MORPHO. More will be released on the governance of the Morpho DAO soon.