Borrow

Learn how to borrow through Morpho, onchain via a smart contract & offchain via ethers.js.

Morpho AaveV2 Optimizer & Morpho CompoundV2 Optimizer allow anyone to borrow from any open market and potentially benefit from lower rates via automatic matching, offchain through Etherscan or with ethers.js, or onchain using a smart contract. Here are concrete examples 👇

Morpho AaveV2 Optimizer

Solidity

// SPDX-License-Identifier: GNU AGPLv3
pragma solidity ^0.8.16;

import {IMorpho} from "@morpho-org/morpho-core-v1/contracts/compound/interfaces/IMorpho.sol";
import {IERC20} from "@openzeppelin/contracts/token/ERC20/IERC20.sol";

interface IWETH9 {
    function withdraw(uint256) external;
}

contract MorphoAaveV2Borrower {
    address public constant WETH = 0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2;
    address public constant AWETH = 0x030bA81f1c18d280636F32af80b9AAd02Cf0854e;
    address public constant ADAI = 0x028171bCA77440897B824Ca71D1c56caC55b68A3;

    address public constant MORPHO = 0x777777c9898D384F785Ee44Acfe945efDFf5f3E0;

    function _borrowERC20(address _aToken, uint256 _amount) internal {
        IMorpho(MORPHO).borrow(_aToken, _amount);
    }

    function borrowDAI(uint256 _amount) public {
        _borrowERC20(
            ADAI, // the DAI market, represented by the aDAI ERC20 token
            _amount
        );
        // this contract now has _amount DAI: IERC20(DAI).balanceOf(address(this)) == _amount
    }

    function borrowETH(uint256 _amount) public {
        _borrowERC20(
            AWETH, // the ETH market, represented by the aWETH ERC20 token
            _amount
        );
        // this contract now has _amount WETH: IERC20(WETH).balanceOf(address(this)) == _amount
        IWETH9(WETH).withdraw(_amount);
        // this contract now has _amount ETH: address(this).balance == _amount
    }
}

ethers.js

import ethers from "ethers";

const signer = new ethers.Wallet(
  process.env.PRIVATE_KEY,
  new ethers.providers.JsonRpcBatchProvider(process.env.RPC_URL)
);

const signerAddress = await signer.getAddress();

const aWethAddress = "0x030bA81f1c18d280636F32af80b9AAd02Cf0854e";
const aDaiAddress = "0x028171bCA77440897B824Ca71D1c56caC55b68A3";

const daiDecimals = 18;

const weth = new ethers.Contract(
  "0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2",
  ["function withdraw(uint256) external"],
  signer
);

const morpho = new ethers.Contract(
  "0x777777c9898d384f785ee44acfe945efdff5f3e0",
  [
    "function borrow(address, uint256) external",
    "function borrow(address, uint256, uint256) external",
  ],
  signer
);

async function borrowERC20(aTokenAddress, amount) {
  await morpho.borrow(aTokenAddress, amount);
}

async function borrowDAI(amount) {
  return borrowERC20(
    aDaiAddress, // the DAI market, represented by the aDAI ERC20 token
    amount
  );
  // signer now has _amount DAI: dai.balanceOf(signerAddress) == _amount
}

async function borrowETH(amount) {
  await borrowERC20(
    aWethAddress, // the WETH market, represented by the cETH ERC20 token
    amount
  );

  // signer now has _amount WETH: weth.balanceOf(signerAddress) == _amount
  return weth.withdraw(amount);
  // signer now has _amount ETH: signer.getBalance() == _amount
}

// borrowDAI(ethers.utils.parseUnits("100", daiDecimals));
// borrowETH(ethers.utils.parseEther(1));

Morpho CompoundV2 Optimizer

Solidity

// SPDX-License-Identifier: GNU AGPLv3
pragma solidity ^0.8.16;

import {IMorpho} from "@morpho-org/morpho-core-v1/contracts/compound/interfaces/IMorpho.sol";
import {IERC20} from "@openzeppelin/contracts/token/ERC20/IERC20.sol";

interface IWETH9 {
    function withdraw(uint256) external;
}

contract MorphoCompoundBorrower {
    address public constant WETH = 0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2;
    address public constant CETH = 0x4Ddc2D193948926D02f9B1fE9e1daa0718270ED5;
    address public constant CDAI = 0x5d3a536E4D6DbD6114cc1Ead35777bAB948E3643;

    address public constant MORPHO = 0x8888882f8f843896699869179fB6E4f7e3B58888;

    function _borrowERC20(address _cToken, uint256 _amount) internal {
        IMorpho(MORPHO).borrow(_cToken, _amount);
    }

    function borrowDAI(uint256 _amount) external {
        _borrowERC20(
            CDAI, // the DAI market, represented by the cDAI ERC20 token
            _amount
        );
        // this contract now has _amount DAI: IERC20(DAI).balanceOf(address(this)) == _amount
    }

    function borrowETH(uint256 _amount) external {
        _borrowERC20(
            CETH, // the ETH market, represented by the cETH ERC20 token
            _amount
        );
        // this contract now has _amount WETH: IERC20(WETH).balanceOf(address(this)) == _amount
        IWETH9(WETH).withdraw(_amount);
        // this contract now has _amount ETH: address(this).balance == _amount
    }
}

ethers.js

import ethers from "ethers";

const signer = new ethers.Wallet(
  process.env.PRIVATE_KEY,
  new ethers.providers.JsonRpcBatchProvider(process.env.RPC_URL)
);

const signerAddress = await signer.getAddress();

const cEthAddress = "0x4Ddc2D193948926D02f9B1fE9e1daa0718270ED5";
const cDaiAddress = "0x5d3a536E4D6DbD6114cc1Ead35777bAB948E3643";

const daiDecimals = 18;

const weth = new ethers.Contract(
  "0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2",
  ["function withdraw(uint256) external"],
  signer
);

const morpho = new ethers.Contract(
  "0x8888882f8f843896699869179fB6E4f7e3B58888",
  [
    "function borrow(address, uint256) external",
    "function borrow(address, uint256, uint256) external",
  ],
  signer
);

async function borrowERC20(cTokenAddress, amount) {
  await morpho.borrow(cTokenAddress, amount);
}

async function borrowDAI(amount) {
  return borrowERC20(
    cDaiAddress, // the DAI market, represented by the cDAI ERC20 token
    amount
  );
  // signer now has _amount DAI: dai.balanceOf(signerAddress) == _amount
}

async function borrowETH(amount) {
  await borrowERC20(
    cEthAddress, // the WETH market, represented by the cETH ERC20 token
    amount
  );

  // signer now has _amount WETH: weth.balanceOf(signerAddress) == _amount
  return weth.withdraw(amount);
  // signer now has _amount ETH: signer.getBalance() == _amount
}

// borrowDAI(ethers.utils.parseUnits("100", daiDecimals));
// borrowETH(ethers.utils.parseEther(1));