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Motivation

The Morpho Token, or MORPHO, is the Morpho Protocol's governance token. Morpho DAO - made up of MORPHO holders and delegators - governs the Morpho Protocol. The governance system uses a weighted voting system in which the amount of MORPHO tokens held determines voting power.

MORPHO holders will be able to vote on changes to the protocol, including:

  • Deployment and ownership of Morpho smart contracts;
  • Turning on/off the fee switches built into Morpho Optimizer and Morpho Blue;
  • Decentralize the hosting of the front end to the protocol and the governance;
  • Govern the DAO Treasury.