Pierre-Yves Gendron

Building @TenorFinance. Avid berry picker

[Pierre-Yves Gendron @PYGendron]

@Morpho 🕛

[Tenor @TenorFinance]

We’re building Tenor with a strong commitment to security.

That means a codebase built on @Morpho Midnight 🕛, 5 independent audits by leading firms, formal verification using the Certora prover, AI-assisted reviews, a bug bounty program, and ongoing monitoring using @blockaid_

Learn more about our approach to security:

[Pierre-Yves Gendron @PYGendron]

@grahamfergs @TenorFinance OTC, built on Morpho Midnight

[Tenor @TenorFinance]

Tenor is open-sourcing a new @Morpho-compatible oracle: the Oracle with Validation, a simple contract incorporating a circuit breaker to improve oracle robustness.

Price oracles are a critical point of failure in onchain lending. Tenor's Oracle with Validation adds an extra layer of defense.

[Tenor @TenorFinance]

The Tenor smart contracts are now public.

A set of opt-in contracts that extend @Morpho Midnight 🕛 with auto-renewal functionality, lend limit orders that earn the variable rate until they fill, migration callbacks, liquidation grace periods, gated markets, and more.

[Pierre-Yves Gendron @PYGendron]

@0xphilgood LFG

[Pierre-Yves Gendron @PYGendron]

Excited to release the Tenor docs and more info on how Tenor extends @Morpho Midnight

Private beta in progress. Launch 🔜

[Tenor @TenorFinance]

Today we're releasing the Tenor docs.

Learn how Tenor extends @Morpho Midnight.

[Philippe Labrecque | Tenor @0xphilgood]

Looking forward to Vault Summit NYC next week!

Send me a DM if you'd like to meet up or run. I'll be in town with @PYGendron

[Deepcryptodive.eth ⟠ @deepcryptodive]

@delitzer > Over time, I expect more liquid markets to develop around Midnight loans

@TenorFinance coded 👀

[Vault Summit @Vault__Summit]

Vault Summit NYC will be held at the @NYSE

Hosted by @Morpho.

Capital allocation, vault infrastructure, institutional curation. Conversations that will define how capital moves onchain for generations.

June 5 · https://t.co/H1746Z3Wys

[Pierre-Yves Gendron @PYGendron]

@PaulFrambot Yes

[Pierre-Yves Gendron @PYGendron]

Can't wait to talk about fixed rates and what we've been cooking with @TenorFinance at the Vault Summit in NYC.

(suit not included)

[Vault Summit @Vault__Summit]

Fixed-rate, fixed-term onchain lending markets will unlock new features necessary for institutional adoption.

@pygendron, Co-Founder at @TenorFinance will take the stage at Vault Summit NYC.

June 5, NYC · https://t.co/H1746Z3Wys

[Tenor @TenorFinance]

The next unlock in DeFi is turning protocols into products built for institutions — keeping what makes DeFi powerful (immutable, non-custodial code) while adding the control more sophisticated players need: isolated markets, user-set rates, renewal policies, gates, liquidation grace periods, and onchain circuit breakers.

Great post from @pat_mayr on higher order DeFi

[Paul Frambot 🦋 @PaulFrambot]

I feel like non-custodiality is deeply underrated and misunderstood.

Once you're truly non-custodial, by definition, there is no one to hack who can take custody of your funds.

This is why we spent so much time building the Morpho Stack as immutable, and vaults that are fully onchain with timelocks.

[Pierre-Yves Gendron @PYGendron]

@0xphilgood @TenorFinance Bouliche

[Pierre-Yves Gendron @PYGendron]

@0xphilgood @TenorFinance Lets goooo

[Pierre-Yves Gendron @PYGendron]

Tenor's Private Beta is coming 🔜. Public launch shortly after

@0xphilgood will finally be able to stop his 10K a day running challenge

[Tenor @TenorFinance]

M̶o̶r̶p̶h̶o̶ ̶M̶a̶r̶k̶e̶t̶s̶ ̶V̶2̶ -> Morpho Midnight

For those wanting an early look at what we've been building on Midnight, Morpho's new intent-based fixed rate lending protocol — reach out. We're kicking off the Tenor Private Beta in the coming weeks as Midnight and Tenor contracts move through audits

[Pierre-Yves Gendron @PYGendron]

We've been building on top of Morpho [TBA] for months now, and I can attest, it's a total paradigm shift. Morpho [TBA] will offer highly efficient and flexible market infrastructure to build lending markets way beyond what's possible with the simple pool-based primitives we have today.

Think markets to borrow stablecoins against RWAs, FX, or structure bespoke P2P agreements. With fixed rates you can actually scale these markets with infra that's better than what Tradfi can offer.

We've been building multiple products and features on top of Morpho [TBA] to create the best platform for asset managers and large scale borrowers to access these onchain markets with @tenorfinance. Think highly configurable bespoke agreements, auto-renewal features, advanced offer types, organization role based access control via vaults, all with a snappy interface. Incredibly excited for both to launch in the coming months.

Also the Morpho [TBA] name goes extremely hard 👀

[Paul Frambot 🦋 @PaulFrambot]

As we approach the official release of Morpho’s fixed rate markets protocol it’s becoming clear that it should not be seen as an iteration of the existing Morpho variable rate markets (today known as Markets V1). It is a completely new paradigm that’s unlike anything DeFi has seen before.

Fixed rate markets are an extension of Morpho's offering, not a replacement. Variable rate markets remain a foundational part of DeFi for the few years to come. The two will complement one another.

For that reason, we’re drop the versioning naming we've been using up until now, and the protocols will no longer be named Markets V1 and Markets V2. We’re changing:

Markets V1 → Morpho “Blue” (as it was originally) Markets V2 → Morpho “[TBA]”

Blue introduced permissionless open-term variable rate markets, with externalized risk management. [TBA] will introduce fixed term, fixed rate, intent lending, with externalized risk and rate management. A completely different structure for pricing and matching that will take Morpho from $10B to $100B+.

As a side note: Morpho Vaults retain versioning because Vaults V2 is a direct improvement designed to supersede Vaults V1, exactly what versioning is meant to signal.

It has been an incredibly hard 2 years of building [TBA], but we are very excited to share more information about Morpho fixed-rate markets soon.

[LUKE CHMIEL⚡️ @talkintokens]

Morpho V2 is what the bond market would look like if it were rebuilt from first principles with Turing completeness

This will become abundantly clear in the year of our lord 2026 inshallah

[Pierre-Yves Gendron @PYGendron]

Morpho Markets v2 will make it possible to bring virtually any offchain lending agreement onchain.

Customizable rates, terms, grace periods, counterparties, collateral requirements (if any).

2026 will be a turning point for onchain lending

[Merlin Egalite 🕛 @MerlinEgalite]

The biggest lending book in 2025 was Telegram.

In 2026, it will be Market V2.