Summary
Authorize $172k in MORPHO incentives for the Tempo instance of the Morpho protocol..
Detail
The Tempo network has demonstrated strong early traction among fintech companies that represent relevant enterprise integrators of the Morpho protocol for Earn and Borrow products.
The Morpho Association proposes an initial bootstrapping of liquidity on the network via an allocation of $172k MORPHO tokens, priced based on a 60 day TWAP prior to the approval of this MIP by the Morpho DAO, to be distributed under the Optimistic Rewards Framework.
If approved, the Morpho Association will set initial incentive rates focused on the growth of liquidity and healthy borrower adoption of key stablecoins, especially pathUSD, a Bridge-issued stablecoin which is also Tempo’s native gas token.
Edit
In an earlier version, this proposal included the deployment of the MORPHO token on Tempo. In light of the recent incident involving Kelp and LayerZero, the Morpho Association has removed this element and proposes that any new chain incentives proceed on Ethereum for the time being, until bridge security can be assessed in depth.