Using Morpho

Overview of Morpho on Instadapp

Morpho works directly with AAVE and Compound and operates nearly identical to using these protocols directly. You will find access to all the same popular Instadapp strategies from 1-click leverage, debt swap and even the ability to refinance between Compound, AAVE and Euler.

Opening the Morpho Page

You can find Morpho on the left navigation under Protocols

Morpho Markets

Morpho operates two markets, one on top of Compound v2 and one on top of AAVE. You can select which market to use in the top right corner. Not all assets on Compound and AAVE have a P2P market on Morpho.

Morpho Matching Details

You can see the overall matching efficiency in the top section of the interface. This displays an aggregate matching efficiency. Matching is specific to each asset market, you can find additional information under the asset.

If your supply/borrow amount would be matched immediately in your transaction you can find this noted in the info box before you confirm the transaction.

In the example above, ETH has borrowing to be matched so supplying ETH will receive the P2P rate

Matching Details

At any time Morpho will have loans and suppliers to be matched. On the Matching Details panel you can see if supply or borrowing is waiting to be matched and what percentage of suppliers and borrowers are currently matched.

On the Matching Details you can find more information about the current P2P markets.

Autonomous Matching

Morpho autonomously matches borrowers and suppliers. You do not need to be matched at the time when you supply or borrow. Morpho will continue to update and match peers as users enter and exit the markets.

This supplier is partially matched which is receiving a blended rate displayed as 'Your APY %'

At any time you can review your current APY on the top corner of each asset. Here you can see if the position is receiving the P2P APY, the underlying protocol rate or a blend. When your position is fully matched both borrowers and suppliers pay and receive the P2P rate.