Morpho receives $775 million in stablecoin pre-deposits and adds support for Optimism

Jinse Finance reported that the DeFi lending platform Morpho has received $775 million in pre-deposits from Stable (a stablecoin blockchain supported by a certain exchange). The platform revealed in a post on X (formerly Twitter) on Wednesday morning that these funds will be managed by a treasury overseen by the risk management firm Gauntlet and allocated to multiple Morpho vaults. By total value locked (TVL), Morpho is currently the eighth largest DeFi protocol. Morpho also announced today that its application now supports the Ethereum Layer2 scaling solution Optimism. According to DeFi data platform DeFiLlama, the total value locked (TVL) in the Optimism DeFi ecosystem is currently about $350 million.