Crypto: $18 million for DeFi startup Morpho

Crypto: $18 million for DeFi startup Morpho

Morpho. Does this name mean anything to you? It is normal and will not last long. This French startup, founded and run by a 21-year-old student, has just completed a historic fundraising process with very popular venture capital funds. Like what, despite the disaster for this sector, crypto startups continue to be funded. Moreover, France occupies an increasingly attractive position for innovators and investors in the cryptocurrency world.

What is morpho?

Morpho is a DeFi protocol that improves efficiency Lending Encryption through exchanges Peer to Peer (P2P). Morpho’s peculiarity is that its crypto-lending protocol does not replace Lending Institutional such as Aave or Compound. no. Morpho is an “optimizer” of cryptocurrency lending platforms.

The main advantage of Morpho is revenue optimization

As co-founder Paul Frabot said: Morpho is a protocol optimizer. Allows borrowing and lending cryptocurrencies in a decentralized manner, but with improved efficiency of the underlying protocols This optimization results from the difference between the lending rate and the borrowing rate on the protocols (generally between 2% and 4%) due to the difference between the number of lenders and borrowers. To eliminate this spread, Morpho links directly between lenders and borrowers in a P2P manner.He livesFor a month only. In just two weeks, the lenders provided $30 million. Morpho-Aave will be launched in the coming weeks.

$18 million raised

These figures convinced well-known funds to invest $18 million in the company. The donations were raised during a funding round co-led by Andreessen Horowitz (a16z, a popular American venture capital firm) and Variant, among other funds. Morpho Labs had already raised just over $1 million in 2021.

Morpheus, French success

This is quite impressive when you know that the co-founder of Morpho is only 21 years old. This is Paul Frabot, still a student, in his third year at Télécom Paris and Polytechnique. Paul Frabot was passionate about blockchain technologies. With only a dozen people on the team, they achieved amazing things in just a few months.

This small, young and dynamic team managed to take a place among the greats. Contributes to France’s impact in terms of innovation in the blockchain sector. The hexagon still seems to have a lively power in this sector. Many young students are excited about the new blockchain technologies. Very early on, some developed completely revolutionary projects.

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Gregory Murat's Avatar

Gregory Murat

A student with a passion for entrepreneurship and fascinated by the technologies behind cryptocurrency! Yes, I am convinced that the two are inextricably linked: blockchain and NFTs are revolutionizing many sectors and presenting unprecedented opportunities.

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