#Morpho
The Morpho Protocol, previously known as Morpho Blue, is a trustless, efficient lending protocol for refinancing and borrowing cryptocurrency assets (ERC20 and ERC4626 tokens) on the Ethereum Virtual Machine (EVM), which allows for the creation of market permissions with Oracle-agnostic pricing. The Interest Rate Model (IRM) and Loan-To-Value liquidation credit (LLTV) are regulated by parameters set by governance, which also approves the range of parameters available for new markets. This market permission creation system allows anyone to create market loans with customizable parameters. This includes the selection of various collateral tokens, borrowed tokens, and oracles. The protocol operates under a dual license (BUSL-1.1 and GPLv2) and is designed for endless operation, relying on the Ethereum blockchain for continuity. Lenders provide assets for interest accrual, while borrowers secure their loans through refinancing to minimize default risk. It is implemented as an immutable smart contract intended to create a trust foundation for financial activities.
