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MORPHO transferability FAQ

General Token Information​

What is the maximum supply of MORPHO Tokens?

There is a maximum supply of 1,000,000,000 MORPHO. Find more details about the token here.

What is the expected circulating supply on transferability date?

The expected circulating supply on transferability date is approximately 11.2%. Find more details about the token supply, breakdown, and vesting here.

What are the contract addresses of MORPHO?

Ethereum:

Base:

Why are there two MORPHO tokens? What’s the difference between them?

The original, now legacy, MORPHO token was deployed as an immutable contract and lacked functionality associated with onchain vote accounting. The Morpho DAO voted to create a contract to wrap the legacy tokens into wrapped MORPHO to enable onchain vote tracking functionality in MIP-75.

In addition to onchain vote tracking, using an upgradeable token makes it possible to conform to a crosschain interoperability standard in the future, minimizing friction for MORPHO holders who want to move their tokens between chains.

Although legacy MORPHO tokens can be freely converted to wrapped MORPHO 1:1 via the wrapper contract, there could be a risk that legacy tokens might be used mistakenly in external integrations, such as exchanges. To prevent this, only the wrapped MORPHO is transferable. Users can easily wrap their existing legacy MORPHO tokens on the Morpho App (see How to wrap here).

For more information about about vesting, breakdown, circulating etc.

Please refer to the docs.

Transferability Event​

When was the MORPHO token made transferable?

With the vote finalized on Nov 6, 2024, the MORPHO token transferability was enabled on Thursday, 21th November 2024.

Do I need to do anything with my tokens?

Now that transferability is enabled, existing holders of legacy MORPHO tokens on Ethereum can wrap their tokens on the Morpho App.

MORPHO on Base is already wrapped, so there are no additional steps.

Swapping​

Will MORPHO be listed on CEXs?

Contributors of Morpho do not decide which CEXs will list MORPHO. However, OKX, Bybit, Bitget, Kraken, Bithumb, MEXC, Gate.io, and Kucoin, have already listed the MORPHO token. More CEXs may choose to list MORPHO in the future.

Exchanges plan only to support wrapped MORPHO. Now that transferability is enabled, users are able to wrap existing legacy MORPHO tokens on the Morpho App.

Will MORPHO have liquidity on DEXs?

Yes, the Morpho DAO has voted yes to Aera’s proposal on providing liquidity for MORPHO/ETH on Uniswap V3 on both Base and Ethereum. More details on this here.

Note that these pools are for wrapped MORPHO.

Where can I swap my MORPHO?

OKX, Bybit, Bitget, Kraken, Bithumb, MEXC, Gate.io, and Kucoin have listed the wrapped MORPHO token. There may be more CEXs in the future.

MORPHO liquidity has also been provided to MORPHO/ETH Uniswap V3 pools on Base and Ethereum.

Can I swap the legacy MORPHO token?

You will need to wrap legacy MORPHO tokens before swapping.

If you hold legacy MORPHO tokens, you’ll be able to wrap them using the Morpho App once transferability is enabled.

Rewards​

Will MORPHO rewards distribution stay the same after transferability?

Yes, MORPHO rewards will continue being distributed until the Morpho DAO votes to change it. Please note that future MORPHO tokens distributed on Ethereum and Base will be wrapped already.

What version of MORPHO tokens have been distributed on Ethereum & Base?

Until transferability date, 21th November 2024, MORPHO rewards distributed on Ethereum have been the legacy token. Existing legacy token holders on Ethereum can wrap their tokens.

All MORPHO rewards on Base are already wrapped. There is no additional action required.

When can I claim my MORPHO tokens on Base?

MORPHO token rewards on Base are claimable under the rewards tab of the Morpho App. All tokens claimed on Base are already wrapped.

When will the MORPHO rewards rate change?

The rate of the uniform reward rate model set by the Morpho DAO and will only change when the Morpho DAO agrees to change it via governance process.

How often are rewards claimable?

Currently, every 2 weeks. The objective is to reduce this duration as much as possible.