Morpho Borrowers Generate $170M in Interest as DeFi Lending Competition With Aave Heats Up

TLDR: Morpho borrowers paid $170M in interest over the past year, reflecting strong borrower demand on the protocol. At a 10% take rate, Morpho DAO earns roughly $17M annually against a $1.7B valuation, a 1:100 revenue multiple. Aave generated $140M in annualized revenue against a $1.5B valuation, giving it a far stronger revenue-to-valuation ratio. Morpho’s [...]

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