> For the complete documentation index, see [llms.txt](https://guides.instadapp.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://guides.instadapp.io/protocols/morpho-blue/morpho-blue-explained.md).

# Morpho Blue Explained

### **Permissionless Markets**

Morpho Blue is a governance minimized lending market. Assets are whitelisted by governance but markets can be deployed openly by anyone. This enables new use cases for Morpho and will allow the protocol to offer more kinds of asset and markets. Once deployed markets on Morpho Blue cannot be modified and require less overall governance to maintain and run. 

### Oracle Agnostic

In the same vein as its permissonless markets, Morpho Blue markets have another option that is open to the creator. Morpho Blue markets can determine which price oracle to use. i.g Chainlink, Uniswap TWAP, or even hard code price etc. This enables Morpho Blue to act in a more neutral and open manner by not selecting any particular default oracle. 

### **Metamorpho Vaults**

Metamorpho Vaults play a pivotal role in simplifying the lending experience on Morpho Blue. Metamorpho is examplery of a use case built on Morpho Blue's open permissionliss markets. Vaults empower risk managers to oversee risk, curate diverse risk profiles, and allocate capital efficiently. For users, vaults enable a way to provide a single asset into Morpho Blue's liquidity earning interest across multiple markets and diversifiying your risk.


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://guides.instadapp.io/protocols/morpho-blue/morpho-blue-explained.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.