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cover of episode How Morpho Is Redefining Money Markets | Paul Frambot | S9 E4

How Morpho Is Redefining Money Markets | Paul Frambot | S9 E4

2025/6/17
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Bell Curve

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In this episode, we’re joined by Paul Frambot, Co-founder and CEO of Morpho Labs to discuss Morpho V2! We dive into Morpho V2’s architecture, MEV implications for the new design, and the curator market. We also cover stablecoin demand, and the potential for building an onchain yield curve.Thanks for tuning in!

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Resources

Morpho - Ushering in DeFi’s Next Era: https://youtu.be/smvV7Ax3bdE)

Morpho V2: Liberating the Potential of Onchain Loans: https://morpho.org/blog/morpho-v2-liberating-the-potential-of-onchain-loans/)

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Katana is a DeFi-first chain built for deep liquidity and high yield. No empty emissions, just real yield and sequencer fees routed back to DeFi users. 

Pre-deposit now: Earn high APRs with Turtle Club https://app.turtle.club/campaigns/katana) or spin the wheel with Katana Krates https://app.katana.network/krates)

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Ledger, the global leader in digital asset security, proudly sponsors Bell Curve! As Ledger celebrates 10 years of securing 20% of global crypto, it remains the top choice for securing your assets. Buy a LEDGER™ device now, and build confidently, knowing your BTC, ETH, SOL, and more are safe.

Buy now on https://shop.ledger.com/?r=1da180a5de00.

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Citrea is the first zero-knowledge rollup to enhance the capabilities of Bitcoin blockspace and enable Bitcoin applications (₿apps). Citrea is optimistically verified by Bitcoin, offering the most Bitcoin-secured and native way to extend BTC’s utility to DeFi. 

Learn more about Citrea: https://citrea.xyz/?utm_source=bellcurve&utm_medium=podcast&utm_campaign=website_promo 

Follow Citrea on X/Twitter for the latest on its journey to mainnet: https://x.com/citrea_xyz

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Grab your tickets to Permissionless IV.

Use code BELL10 for 10% off: https://blockworks.co/event/permissionless-iv

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Follow Paul: https://x.com/PaulFrambot

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Timestamps:

(0:00) Introduction

(1:20) Overview of Morpho

(3:48) Why Hasn't Fixed Rate Lending Taken Off?

(8:41) Borrower UX

(12:03) Ads (Katana & Ledger)

(12:42) Behind the Scenes of Fixed Rates

(16:17) Improvements Made in Morpho v2

(20:15) Design Tradeoffs

(29:36) Ads (Katana & Ledger)

(30:44) MEV Implications

(36:00) Term Preferences

(44:25) Citrea Ad

(45:00) The Curator Market

(56:53) Vertical Integration Strategy

(1:00:28) Stablecoin Demand

(1:03:03) Building an Onchain Yield Curve

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Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.