Morpho Initiates Community Discussion on Protocol Token Transferability

2024-08-27 15:22:40

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ChainCatcher news, the DeFi lending protocol Morpho has initiated a community discussion regarding the transferability of the MORPHO token. Morpho stated that since July 15, 2022, the Morpho Association has deployed the MORPHO token as a non-transferable asset.

Non-transferability allows the Morpho DAO to develop the Morpho protocol and enables users and contributors who align with Morpho's long-term vision to gain ownership of the network. However, to further advance Morpho's mission of making financial infrastructure a public good, everyone must be able to access ownership and governance of the network. To this end, the MORPHO token must become transferable.

According to data from the crypto platform RootData, in August of this year, Morpho completed a $50 million financing round, led by Ribbit Capital, with participation from Hack VC, IOSG, Rockaway, L1D, Mirana, Cherry, Semantic, Fenbushi, Leadblock Bitpanda, and Robot Ventures. The valuation has not been disclosed. Heavyweights participating in the private token sale include a16z crypto, Coinbase Ventures, Variant, Pantera, Brevan Howard, BlockTower, and Kraken Ventures.

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Morpho DeFi token transfer

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