Monarch

Permissionless Lending with @morpho.
Be your own curator.

[Monarch @monarchlend]

1/5Happy New Year. Monarch v1.0 is officially live. 🥂

After 1.5 years of building, we’ve shipped a complete overhaul. The goal remains unchanged: giving you absolute control over your lending strategy—now faster, cleaner, and fully optimized.

Let's look at what's new. 🧵

[Monarch @monarchlend]

16M into 2 newly created markets on Morpho in the last 24 hours 👀

[Monarch @monarchlend]

Another big USDT market just dropped 👀

Spot early alpha on Morpho with the discovery feature

https://t.co/IbTqxLAFWa

[Ethan DeFi @EthanDeFi_]

One of the best yield opportunities on Morpho is lending USDT against kHYPE.

The current lending APY is 16% and the 7-day APY is 10%.

I consider kHYPE collateral to be relatively safe as it is the largest HYPE liquid staking token.

If you hold USDT, this is a good farm IMO.

[Ethan DeFi @EthanDeFi_]

You can lend against kHYPE collateral to get this yield via @monarchlend, which is built on top of Morpho.

On Morpho UI there's no vault that lets you lend only against kHYPE.

[Ethan DeFi @EthanDeFi_]

Lending USDT against PT-reUSD is currently paying 27.69% APY.

reUSD is @re's asset backed by sUSDe and reinsurance contracts, which is protected by a junior tranche.

Don't expect the 27% APY to last for long, but it's a great opportunity for now.

[Ethan DeFi @EthanDeFi_]

Lending USDC to the USD3 market on Morpho is now also giving 13% APY.

If you're a lender, it's worth keeping an eye on the USD3 and PT-USD3 markets. Both are heavily incentivized by 3Jane.

You can get the 13% APY mentioned above via @monarchlend UI.

[Paul Frambot 🦋 @PaulFrambot]

Interest paid on Morpho is growing fast, but more importantly 90%+ of these loans are denominated in stablecoins (usually 60-70%).

[Ethan DeFi @EthanDeFi_]

The USDC lenders to the PT-USD3 market on Morpho are earning 16% APY.

In terms of risk/reward, this is currently my favorite Morpho lending opportunity and can be accessed via @monarchlend.

3Jane's USD3 was audited several times and is protected by a $8M junior tranche.

[Etherlink 🔗 @etherlink]

🧱 Build what you want to use.

That's exactly what inspired @monarchlend.

Built around @Morpho, Monarch is making permissionless lending simpler for users who want to be their own curator.

Hear the story ↓

[Ethan DeFi @EthanDeFi_]

Considering that only a bluechip asset like WBTC is accepted as collateral, I find this yield attractive from a risk/reward perspective.

You can't lend to this market directly via Morpho UI.

But you can do it via @monarchlend, which lets you become your own Morpho curator.

[Monarch @monarchlend]

3 reUSD markets gaining popularity on monarch 👀

[Merlin Egalite 🕛 @MerlinEgalite]

Anton has been building @monarchlend for almost 2y on top of Morpho.

While we were struggling to hire a solution eng in APAC meeting all our requirements (tech depth + talk mandarin + great culture fit + ...), Anton felt like the perfect fit.

So glad to have him onboard!

[Anton Cheng @antonttc]

Personal news: I've joined @Morpho full-time as a solutions engineer focusing in the APAC region.

I've been public about my obsession with Morpho since the protocol showed up in 2023, and I've been building @monarchlend for more than two years. Along the way I've talked to countless teams and individuals building on top of Morpho, and it became clear to me that this immutable contract is becoming one of the most trusted pieces of code on EVM.

What I didn't see at the beginning is how much Morpho has quietly been doing to onboard the real world — a team bigger than any other in DeFi, dedicated entirely to that movement. That's some unprecedented effort, compounding for three years.

With Morpho Midnight coming, lending is about to expand fast. Midnight adds a new dimension — duration — both a challenge and something familiar to TradFi. Risk curation becomes far more than asset selection, and the best curators will push lending to a new level. This is DeFi's one shot to prove smart contracts can be a trustless layer like Ethereum, and make finance better.

If any institution wants to go onchain and manage money for users, I want them to use Morpho. Because as an immutable layer, Morpho gives end users the best protection: the cleanest isolated markets for proper risk assessments, the most trustworthy base layer to settle loans, and the most tools in the ecosystem to keep finance transparent onchain.

That's what ultimately made me join.

I'll keep working on Monarch in my own time, and slowly hand it over to other builders in the Morpho ecosystem in the next few months. I'll make sure Monarch keeps existing as an independent platform and service provider — for anyone who wants a different access point to Morpho. It'll always be here.

Before I joined, I tried to make sure everything I did was best for the Morpho protocol and $MORPHO. After joining, I'll do exactly the same.

Morpho will win.

P.S. 如果有亞太、中文區的夥伴想 connect，歡迎私訊 tg (@)antonasso 或 email [email protected]

[Ethan DeFi @EthanDeFi_]

A good opportunity on Morpho is lending USDT to syrupUSDC market for 21% APY.

Steakhouse, the vault curator, is removing liquidity from this market, causing supply and borrow rates to spike.

You can access this opportunity via @monarchlend, which is built on top of Morpho.

[Monarch @monarchlend]

Two markets supported by @re related assets have just popped up:

1. The USDT market backed by @re:
@SteakhouseFi's smokehouse vault made a deposit of 1 million just a few hours ago.

2. The USDC market backed by PT-reUSD-10DEC2026 (6 months). It currently offers one of the highest APYs on the mainnet, with most of the deposits coming from the RE Ecosystem vault.

If you like @re, take a look at this opportunity!

[YPSONO @0xYpsono]

I am excited to share that I am leading the TezTalks DeFi series on @TezosCommons.

I enjoy using defi protocols and had to pleasure to speak with @antonttc, founder of @monarchlend about his project and their recent integration with @etherlink.

[Riccardo_Olivieri @oliviericcardio]

7) Lend ethereum:0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48 on @Morpho (throw @monarchlend) for 5,90% APY:

[0scar @0scaronchain]

Looking at each market's loop-intensity and based on the markets' composition, I estimate that these three personas account for 1/3 each of all debt

Some nuances:
- even when carry trade loopers are only 30% of all debt, they account for >80% of the debt in half of the markets analyzed
- about half of the liquidity borrowers are Coinbase users
- Some leverage traders prefer Morpho vs perp venues; simpler borrowing cost vs funding could be the reason; tools like @Contango_xyz or @monarchlend have made it easier

[Ethan DeFi @EthanDeFi_]

A key thing to check when lending on Morpho is the vault curator.

A lot of vault curators have proven to be terrible at risk management and lost millions of dollars in user funds.

Here are three vault curators I suggest you avoid:

1. AlphaPing

AlphaPing allocated $17M USDC from its Morpho vault to the $msY market.

This was done despite the fact that Main Street's msY collateral reserves have never been fully transparent.

On top of that, several researchers, including @D2_Finance, raised red flags about Meta Street a few months ago:

https://t.co/Y7vxSiQO6R

Now, $MSY price collapsed, and Main Street claims it can't process withdrawals yet due to "liquidity constraints".

2. Gauntlet

On March 22, Resolv was hit with an infinite token mint attack.

Gauntlet had three USDC vaults with exposure to Resolv assets. Now, I don't blame Gauntlet for this.

No one could have predicted an exploit in advance, especially given that Resolv was heavily audited.

But what Gauntlet did next showed an insane level of incompetence:

After Resolv had already been exploited, Gauntlet had a "smart" automated allocator mechanism that kept supplying more and more USDC from its Morpho vaults into the affected Resolv markets.

And this significantly increased the losses incurred by the lenders of Gauntlet’s vaults.

3. MEV Capital

MEV Capital curated at least four markets with exposure to Stream Finance.

For context, Stream declared bankruptcy after losing $93M last year.

Worse than that, no one knew about its loss for weeks, as it was impossible to verify Stream's full collateral reserves.

Yet MEV Capital exposed dozens of millions of dollars of user funds to Stream Finance, despite Stream operating like a black box.

And to this day Stream Finance users are still waiting to get at least a part of their money back.

I hope this post helps!

If you have a very good understanding of how Morpho and its oracles work, my suggestion is to use @monarchlend for lending.

Monarch lets you become your own curator on Morpho, choose what assets to accept as collateral, and no longer rely on other curators.

That said, there are also a few good curators out there like @SteakhouseFi with a good track record.

[Morpho 🦋 @Morpho]

Deposit Confidential Tokens with @zama on Morpho

Institutional allocators, corporate treasuries and market participants can earn yield from @SteakhouseFi curated Morpho Vaults without disclosing their balances or strategies