Merlin Egalite

@merlinegalite

46 Following

822 Followers

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Morpho was deployed on @worldcoin 2 months ago. So far, 300k+ people have already used the Morpho Mini App. What's amazing is that of all the top 10 countries users, none are from "the West". One of Morpho's missions is to provide everyone with access to basic financial services. Still Day 1.

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Yesterday, someone told me that he swapped his mortgage loan paying 8% yearly to a bitcoin-backed loan using the @coinbase app since the rate was cheaper (5%). This is why we’re waking up and building every day: to give the best opportunities to everyone on the planet.

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Morpho V2 is a game changer for fintechs & instits eager to come onchain. → intent-based system → unmatched flexibility (variable rates, fixed rates, cross-chain, etc) → market-driven rates → compliance without fragmentation The DeFi mullet trend is just getting started.

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$300M+ in active loans via @coinbase. Still day 1.

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Wallets and Fintechs will be the same category in 5 years.

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→ Why bundling? When products are bundled into the wallets, the UX is easier for users, there are fewer choices to be made, which results in better conversion. It's also easier to monetize (just take a rate on the swap or the interest generated). It’s win-win, both users and wallets benefit from this. If the user does not want to face the fee, they can still go directly to the protocol. This is the magic of Web3. It started with swapping first, as it’s the easiest to integrate. Next, it’s loan products. Soon, all wallets will offer native earn and borrow products. Morpho just kick-started the trend. TLDR Wallets will bundle more products into their interface to onboard more users and generate more revenue. The next phase is loans, and Morpho provides the infrastructure to make this happen.

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→ Why is it an important step for wallets in general? For a long time, users wanted diversity of choice and optionality. So, they used whatever wallet they could to connect to DeFi protocols or web3 projects to which they had affinity. This has changed. Wallets have understood that they're not just providing a simple noncustodial wallet; they're the gateway to the onchain world. One classic example is Coinbase's revamp of Coinbase Wallet to be the gateway to all Coinbase onchain products and more. The next growth target is those who aren't Web3 native and coming from Web2. They are usually less technical, or don't really care about having full optionality and discovering new projects every day. They just want something that is native in the wallet interface so that they can do what they need to do: swapping one asset for another, getting onchain yield, taking out an onchain loan on a Sunday from their phone, etc. → So, how do you solve this? Bundling products within the same simple interface.

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→ Wallets and Fintechs are converging. Web3 native apps and services are way too complicated for newcomers to navigate. To onboard the next millions onchain, there’s an urgent need to improve the UX and accessibility. At the same time, wallets must find a path toward usability and profitability to continue innovating and provide their users the best experience and safety. They need ways to provide value-add beyond just access to onchain apps in their products. Both @ledgerofficial and @trustwalletapp are leaders in non-custodial wallet spaces and both are exploring value-add services on top of their core offerings. It will be clear that wallets and fintechs will look very much alike in a few years.

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Morpho & @kiln team up to offer the best Earn product for millions of @trustwalletapp users. → DAI, USDC, USDT assets → Morpho as top-featured protocol → Full sovereignty from wallet to protocol Wallets will all offer native loan products, with Morpho in the back.

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What’s the location? 🙈

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Woke up polygoned today. Morpho reached $100m total deposits on @polygonchain, making it the 5th largest protocol there.

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Today is the best day to do focus work and just think.

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I’m not sure I’ve read the rules but could not see any other things

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Alright, Hyrox Paris was a lot of fun! 1:26:58 + 5min penalty (did an extra lap at run 3 lol or maybe because I crossed a line at sled push) Learnings: - Count your laps well (obviously) - Sled push and pull & wall balls were harder than I thought - I need to gain weight, especially for sleds - Pace is important not to blow up - Eat light in the morning - Penalties hit hard Will do it again for sure and aim for below 1:20 (and avoid penalties)

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Got a ticket for Paris Hyrox. Am I ready? ofc not.

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Why L1s become L2s (check Kydo's article https://x.com/0xkydo/status/1906050837186584983) mirrors why lending protocols switch to Morpho. TLDR Less operational, development & bootstrapping cost. At the same time, Morpho will become the base layer for onchain loans, offering security, efficiency & liquidity as a service. @seamless is a vgood example: they were spending $30k/m + human resources to maintain their Aave v3 fork. Now they're switching to Morpho Stack to cut that cost & focus on what matters. They're joining @sparkdotfi @moonwell Compound Indexcoop etc for those reasons.

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