Morpho announces the public launch of Morpho Midnight for the coming days, after several months in beta. This protocol represents a new paradigm for onchain lending and is the team’s most ambitious bet to date.
Unlike Morpho Blue, which outsourced risk management to curators through vaults, Midnight goes one step further and outsources risk, maturity and rate directly to the market, introducing the dimension of duration as a central variable for traders.
The launch will be deliberately gradual. Security is the central priority: the protocol went through months of audits with specialized firms, an audit competition and formal verification.
On its first day, Morpho Midnight will launch in its most primitive form, without auto-rolling, without callbacks, without a vault adapter and without cross-chain support. It will initially be restricted to direct lenders and borrowers, and the first enabled market will be cbBTC/USDC on Base, with multiple maturities. “Multi-market offers” will be available from the start, allowing users to post liquidity across several isolated markets simultaneously.
Additional features, including the vault adapter, cross-collateral markets, auto-rolling and programmatic access via APIs and SDKs, will be deployed progressively over the following weeks and months. The team aims for the infrastructure to attract institutions and consumer fintechs into the onchain ecosystem at scale.
Source:Â https://morpho.org/blog/morpho-midnight-what-to-expect-at-launch
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