Chains
Morpho across 12 chains · active loans $3.58B · borrow interest $168.87M annualized
Morpho Active Loans by Chain
Active loans across chains over 24 months. Top chain: Ethereum at $1.83B (51.1%)
Chain Structural Identity
How each chain's collateral composes. Which asset classes back lending where
Chain Economics
Where Morpho's economic activity concentrates by chain
| Chain | Active Loans | Borrow Interest | NIM | Curator Fees | Utilization | Active Loans 30d Δ |
|---|---|---|---|---|---|---|
| Ethereum | $1.83B | $86.44M | 58 bps | $1.22M | 37.0% | -9.3% |
| Base | $1.52B | $72.28M | 56 bps | $3.11M | 36.2% | +8.4% |
| HyperEVM | $94.21M | $5.51M | 125 bps | $439.84K | 25.5% | -25.7% |
| Monad | $55.71M | $2.2M | 62 bps | $111.99 | 37.2% | -29.4% |
| Katana | $34.5M | $700.01K | 70 bps | $66.89K | 33.6% | -45.6% |
| Stable | $17.31M | $705.12K | 43 bps | $0 | 42.0% | +420.2% |
| Arbitrum | $15.64M | $479.64K | 60 bps | $14.55K | 36.8% | -50.9% |
| Worldchain | $6.69M | $127.8K | 133 bps | $12.21K | 21.0% | +4.5% |
| OP Mainnet | $3.21M | $314.38K | 73 bps | $30.79K | 38.1% | -23.7% |
| Polygon | $1.28M | $54.02K | 127 bps | $2.67K | 28.9% | -30.2% |
| Unichain | $1M | $67.82K | 223 bps | $4.23K | 37.1% | -11.8% |
| Tempo | $1.72K | $0.48 | 3 bps | $0 | 0.0% | -98.0% |
Curator Presence Across Chains
Top 10 curators by global TVL × top 8 chains by active loans · cells are TVL
| Curator | Ethereum | Base | HyperEVM | Monad | Katana | Stable | Arbitrum | Worldchain |
|---|---|---|---|---|---|---|---|---|
| Steakhouse Financial | $317.64M | $456.68M | · | $618.99K | $16.27M | · | $2.13M | $1.04 |
| Gauntlet | $176.04M | $441.25M | $3.12M | · | $19.02M | $1 | $3.32M | · |
| Felix | · | · | $60.82M | · | · | · | · | · |
| Yearn | $10.86M | $2.02M | · | · | $16.25M | · | · | · |
| Hakutora | $23.31M | · | · | · | · | · | · | · |
| Pangolins | · | $22.21M | · | · | · | · | · | · |
| Anthias Labs | · | $19.23M | · | · | · | · | · | · |
| SparkDAO | $10.51M | $7.81M | · | · | · | · | · | · |
| MEV Capital | $7.76M | · | $1.17M | · | · | · | · | · |
| Clearstar | $1.85M | $2.42M | · | · | $2.28K | · | $25.82K | · |
All Chains
Click any row to open that chain's detail page.
| Chain | Active Loans | 30d Δ | Borrow Interest | NIM | Utilization | Curator Fees | Total Deposits | TVL | # Markets | 12mo Δ pp |
|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | $1.83B | -9.3% | $86.44M | 58 bps | 37.0% | $1.22M | $4.95B | $3.12B | 406 | +5.9 |
| Base | $1.52B | +8.4% | $72.28M | 56 bps | 36.2% | $3.11M | $4.2B | $2.68B | 150 | +26.0 |
| HyperEVM | $94.21M | -25.7% | $5.51M | 125 bps | 25.5% | $439.84K | $369M | $274.79M | 78 | -1.0 |
| Monad | $55.71M | -29.4% | $2.2M | 62 bps | 37.2% | $111.99 | $149.72M | $94.02M | 56 | N/A |
| Katana | $34.5M | -45.6% | $700.01K | 70 bps | 33.6% | $66.89K | $102.58M | $68.08M | 43 | N/A |
| Stable | $17.31M | +420.2% | $705.12K | 43 bps | 42.0% | $0 | $41.23M | $23.92M | 8 | N/A |
| Arbitrum | $15.64M | -50.9% | $479.64K | 60 bps | 36.8% | $14.55K | $42.57M | $26.92M | 57 | +4.6 |
| Worldchain | $6.69M | +4.5% | $127.8K | 133 bps | 21.0% | $12.21K | $31.82M | $25.13M | 20 | +0.0 |
| OP Mainnet | $3.21M | -23.7% | $314.38K | 73 bps | 38.1% | $30.79K | $8.42M | $5.21M | 8 | +1.8 |
| Polygon | $1.28M | -30.2% | $54.02K | 127 bps | 28.9% | $2.67K | $4.44M | $3.15M | 331 | -18.0 |
| Unichain | $1M | -11.8% | $67.82K | 223 bps | 37.1% | $4.23K | $2.7M | $1.7M | 30 | +2.6 |
| Tempo | $1.72K | -98.0% | $0.48 | 3 bps | 0.0% | $0 | $7.12M | $7.12M | 9 | N/A |
Sorted by active loans · TVL & 12mo Δ pp kept for sector compatibility
Methodology
This dashboard analyzes Morpho the way a credit analyst would analyze a bank. Leading with active loans (the earning assets), borrow interest flows (income), and net interest margin (spread). TVL is shown where useful for sector comparison but is not the primary metric. Framing per Stani Kulechov, Aave founder, late 2025.
Sources: Morpho GraphQL market & vault state (snapshotted daily into Neon), DefiLlama per-protocol per-chain TVL for the lending-sector denominator, and DefiLlama yields for Aave V3 comparison rates. APYs are clamped below 100% to neutralize bad-oracle and dust-market outliers.
Updated every 15 minutes from the latest daily snapshot (as of 2026-07-01). Full metric definitions and caveats live at /methodology.
Datum Labs. (2026). Morpho Research Terminal: Chains. Loan book. Retrieved July 1, 2026 from /chains.