Lend USDG to earn interest through curated vaults, or borrow against collateral in isolated markets.

Official links: Website (morpho.org) · App (app.morpho.org) · @Morpho (x.com) · Docs (docs.morpho.org) · GitHub (github.com) · DefiLlama (defillama.com)

What Morpho Blue does

• Deposit USDG into curated vaults (e.g. Steakhouse USDG) to earn interest
• Borrow against collateral in isolated markets with fixed liquidation LTVs
• Anyone can create a market from loan asset, collateral, oracle and rate model
• Powers Robinhood's in-app Earn product for USDG

Borrowers pay variable interest to suppliers; vault curators may take a performance fee. Morpho Blue itself is immutable.

Morpho Blue is the chain's main lending primitive: a minimal, immutable core where anyone can create an isolated market from a loan asset, a collateral asset, an oracle, an interest-rate model and a liquidation LTV. Risk stays inside each market, and curated vaults built on top — Steakhouse USDG, Spark Savings USDG, Denar — allocate depositors' funds across those markets. Morpho Blue is where most USDG lending on Robinhood Chain actually settles, and lenders interact with it through supply, withdraw, borrow, repay and collateral calls.

• On Robinhood Chain since: 2026-07-01
• Founded: 2021
• Team: Morpho Labs, founded in France by Paul Frambot (CEO), Merlin Egalite, Julien Thomas and Mathis Gontier Delaunay.
• Token: $MORPHO
• Audits: Multiple (Morpho audit list)

Morpho Blue news

• 2026-07-07 — Robinhood taps Morpho to power new onchain Earn product
• 2026-07-01 — Robinhood chooses Morpho to power new Earn product (Steakhouse curates, Robinhood Chain settles)
• 2026-06-09 — Morpho raises $175M led by a16z crypto, Paradigm and Ribbit Capital
• 2024-08-01 — Morpho raises $50M led by Ribbit Capital

Morpho Blue contracts on Robinhood Chain

• Morpho Blue 0x9d53d5e3bd5e8d4cbfa6db1ca238aea02e651010
• Adaptive Curve IRM 0x2bd3d5965b26b51814ac95127b2b80dd6ccc0fa1
• Chainlink Oracle V2 factory 0xb7c16f6f8cf531447bf27ca7220f981e79c9cdf2
• MetaMorpho V1.1 factory 0x99a0bd825beda579794f3f715ab3984310c7226e
• Denar USDG Vault 0xf0e6ad006080c48766ddb95b8c568d72bc059050

Similar projects

• Steakhouse Financial — Deposit USDG into a managed vault that lends it out on Morpho and earns you interest.
• Spark Savings — Deposit USDG and earn interest; your savings token grows in value, with no lockup.
• Longbow — Lend USDG for interest, or borrow USDG against tokenized stocks, memecoins, RWAs and NFTs.
• TermMax — Borrow or lend at a fixed rate until a set date, including against tokenized stocks like SPY and NVDA.

All Robinhood Chain projects · Lending & Credit projects