MIP 93 - Call for Grants

You’ve raised a good point. My suggestion would be that when voting on grants, the DAO clarifies a deadline for the objective metrics that is shared across all grants, ie, 3 months from grant disbursal, to reduce the overhead in assessments.

Proposals that do not define objectively measurable impact metrics should be considered ineligible and can be excluded from voting.

3 Likes

Thank you for this proposal. My feedback:

While the budget request is reasonable, I find this proposal relatively less interesting than the other submitted by the same team (Morpho CoW Hooks), given that:

  1. Similar tools already exist, though not specifically using CowSwap (for example, DefiSaver Morpho automation)
  2. As a Safe App, the distribution channel is less clear than inclusion in the CoW Hooks store, and the milestone for TVL is also fairly low
2 Likes

Thank you @OneTrueKirk for the feedback! We understand it’s natural to compare two proposals from the same team, but I would like to highlight that we’re confident we can successfully deliver both projects if they’re approved. Also, let me reply to the points that you raised:

  1. While similar tools exist, our integration with CoW programmatic orders would offer great advantages to users, particularly through its robust MEV protection system – a crucial feature for handling large orders.
  2. We acknowledge the Safe wallet limitation, though it could actually be advantageous. Starting with Safe support allows us to target DAOs and institutional users managing treasuries – an advantage over EOA-first dApps. After the idea is validated we can extend the system to also support EOAs. This mirrors the approach of CoW AMMs, which began as Safe-only before integrating with Balancer pools.
1 Like

We agree that having a common deadline for evaluating objective metrics across all grants is efficient. However, three months may not be sufficient for proposals that spend that period solely on development. For that reason, we believe at least six months should be considered. Additionally, some proposals may have longer timelines in mind (e.g., nine months), which means a strict six-month deadline could be disadvantageous for them.

We also agree that any proposal lacking objectively measurable metrics should be deemed ineligible and removed from voting. To address this, we propose:

  • Setting a uniform evaluation deadline of six months after the grant is disbursed.
    Based on the results of this evaluation, the final reward distribution should, at a minimum, have a report shared on the forum. Whether a Snapshot vote is required remains to be determined.

  • Establishing a one-week revision period next week for grant proposals.
    During this time, proposers can revise their objective metrics. Any changes must be clearly documented so it is evident what has been altered.

  • Excluding any proposals still lacking objective metrics right before voting.
    Kirk or someone from Morpho Association should perform the exclusion, and the excluded proposals should be explicitly noted on Snapshot.

Ideally, the authority to remove proposals on these grounds would be formally assigned, or the DAO would have a way to overturn such decisions. Given that this is a pilot program, however, we believe the above measures are sufficient for now.

2 Likes

Indeed, we have chosen a relatively “challenging” milestone to de-risk the grant on Morpho’s side.

As a reminder, Mangrove V1 on Blast L2 generated over $500M in volume within a few months, without really having a concept of TVL at the time. With abstraction via vaults and our future Kandle-Morpho strategy, we are increasingly moving towards incorporating TVL, especially with the full deployment of Mangrove V2 and it’s incentive program, which we are planning on Base (with Arbitrum serving as an intermediate stage for now).

We have also initiated discussions with several Morpho vault managers who will be able to attract other types of capital with a risk management approach different from lending in their lending vaults.

If you are a project seeking grants, you might want to check this out on the Morpho DAO Open Governance Call thread.

1 Like

Untangled is pleased to pitch our grant request. Thanks

2 Likes

Hey @CHAGO,
@LlamaRisk deployed Curve LP, using a Convex wrapper; what advantages can this integration bring in relation to what has already been done?

1 Like

Hey @WinVerse_DAOplomats @MorphoAssociation ,

Quick question - When is the voting scheduled for all these projects to shortlist on the final ones, as mentioned in the initial post? Wanted to followup and check what the next steps are.

Also, we missed the previous governance call. Are we supposed to join the next one and pitch?

Thanks
Ajit G

Hey gm @ajitg

Voting should be live on Snapshot sometime today. Regarding the grants pitch, it already happened during last week’s call.

2 Likes

Hey,
Difference here is that it will be permissionless, not tied to Llamarisk’s vault, and more importantly, it will be:
1/ For Curve, not limited to Convex, but will allow to benefit from the boosts of Convex, Stake DAO, and Michael Egorov’s, which overall represent 70% of the boost supply of Curve, all bundled in a user friendly boost aggregator contract (OnlyBoost).
2/ Not limited to Curve: will also work for Pendle LPs, Yearn, PancakeSwap, Balancer, Spectra, FXN, and more to come in the future.

3 Likes

Sharing my opinions here:

Principle: I believe we should prioritize projects who build something new (contracts, infra, frontend) for Morpho, or directly benefit others building on Morpho, not just using Morpho or Morpho Vaults in an existing product.

Top Picks

  • Open-Source Frontend for Morpho (@Re7-Labs): I strongly support decentralized and open-source development for the frontend. The current frontend poses significant centralization and legal risks for the MorphoLabs team, which I would argue is the only weakness Morpho still has today. Re7 is a well-known team in DeFi, having them contributing directly on the Morpho tech stack send positive signals.

  • Morpho COW hooks (@yvesfracari): I find this proposal compelling while being very reasonable in terms of complexity. Cowswap is having very good momentum regarding their Hook integration, so having the Morpho Hook as a potential entry point is going to be very beneficial. Additionally, Bleu Builders have a very strong track record in building projects with a similar scope.

  • Unicord (@yevhenx): Good track record building in DeFi (and derivatives like Squeeth, which I just like :wink:). While I’m not a big fan of the curation fee model, it seems like the Lumis team has great knowledge and exposure in the solver ecosystem, and they have already built something with the hookathon.

  • Morpho x StakeDAO (@CHAGO): StakeDao is a fantastic team with a good track record of building in DeFi. The problem the wrapper will be solving is very realistic and can unlock a lot of liquidity into Morpho when the factory is completed.

Few others that I plan on voting for:

  • ETHDiscount (@just_z):A small token request for audit, which is very reasonable. I support something already built on Morpho.

  • Morpho Telegram Bot (@Zeebradoom): I think supporting dev work from Blockchain at Berkeley is important to get more dev engagement from this particular community for building on Morpho. The project itself is small in scope, and it’s very realistic and can be beneficial to others building telegram bots in the future.

4 Likes

Is there a Part 3 planned for the " MIP 93 Grants Pilot Program Selection"?

ETH Discount isn’t considered in any of the existing snapshot proposals.

Hey @OneTrueKirk , I couldn’t find the original proposal i posted on Jan 1st. Somehow it doesn’t appear here and I only see the feedback. Hence, Im reposting it here. Please take a look.

Project Title
MorphoBuilder: A Whitelabel Frontend Solution to Accelerate Morpho’s Adoption Across Chains

Organization Name: Superlend

Website and Social Media Links:

About Us + Prior Experience

Superlend Interface aims to be the “1-inch of DeFi lending and borrowing,” providing users with:

  • Aggregated access to the best lending and borrowing rates across all the protocols (Aave, Compound, Morpho, Fluid and more) and chains.
  • A concise, risk-aware interface for decision-making and easy portfolio management.

Our Achievements in Q4 2024:

The Superlend team has been building in DeFi since 2019, primarily in the Tezos ecosystem, developing key DeFi infrastructure such as DEXs and bridges. Our developers are veterans of Ethereum’s developer community, having won accolades at EthIndia and other major hackathons.

Founders:
• Bernd Oostrum: Co-founder (Twitter: @bernd_oostrum).
• Om Malviya: Co-founder (Twitter: @hsrwala).

Requested Budget: 50,000 MORPHO

Scope of Work

We propose MorphoBuilder, a Whitelabel frontend solution to accelerate Morpho adoption across chains. This solution will allow any new chain or project to easily deploy a custom-branded Morpho instance with minimal effort, fostering growth and adoption for the Morpho ecosystem.

  • This solution can also be listed on platforms like Conduit.xyz/integrations, and our team can customise it for any chain, on a case-to-case basis.
  • The solution would be fully open-sourced, so anyone can also use it to customise as per their requirements.

Key Features:

  1. Integration with Morpho Vaults & Markets
    1. View a comprehensive list of all available vaults to supply, with detailed comparisons of APYs, utilization rates, and other metrics to help users make informed decisions.
    2. Similarly, access a list of borrowing markets, allowing users to compare rates, collateral requirements, and other parameters effortlessly.
    3. Earn by supplying to Vaults and borrowing on Markets.
    4. Ability to withdraw from a Vault & repay to a market for borrowers.
  2. Portfolio Management:
    1. Track and manage existing supply & borrow positions in one place.
    2. Monitor vault and market usage for both earning and borrowing purposes.
  3. Enhanced Decision-Making Tools:
    1. Concise risk parameter displays (e.g., collateral factors, LTV, APY trends, utilization rates) with historical projections.
    2. Real-time analytics to assist in selecting the best vault or market by showing metrics like Avg monthly APYs and other metrics.
    3. An Estimator Module that provides users with estimated returns or expected repayment amounts based on historical APY data, calculated according to the amount of tokens supplied and the duration of the investment. This feature enables users to understand potential returns or costs before utilizing the platform.
  4. Whitelabel Customization
    1. Customizable logos, fonts & colors, for tailored branding.
  5. A modular, open-source solution that supports quick adaptation for new chains or projects without extensive development effort.

A similar UI/UX can be found at beta.superlend.xyz, which is currently integrated with Aave on Polygon, for lend/borrow. Integration with Morpho Vaults & markets to supply/borrow is expected to go live in the second week of Jan.

Benefits for the Morpho Ecosystem

  1. Strengthened Multi-Chain Presence
    1. Whitelabeling aligns with Morpho’s multichain vision, offering consistent, tailored interfaces across chains.
    2. Builds community-driven adoption by empowering chains to promote their branded Morpho solutions.
  2. Accelerated Onboarding
    1. New chains can deploy branded Morpho instances with minimal effort, simplifying the integration process.
    2. Layer 2 communities and newer chains can seamlessly onboard users to the leading L&B protocol, increasing ecosystem participation.
  3. Increased TVL and Protocol Utilization
    1. Easy access to comparative tools and best yields will attract more users, directing liquidity to Morpho markets and vaults.
    2. Improved protocol usage metrics through enhanced user experience and decision-making tools.
  4. Open-Source Innovation
    1. The modular design allows developers to contribute and innovate, expanding the ecosystem’s capabilities.
  5. Ecosystem Growth
    1. Chain-specific branding incentivizes chains to actively promote their Morpho instances, driving organic adoption.
    2. Establishes Morpho as the go-to solution for decentralized lending and borrowing across chains.

Technology Stack
To deliver the best experience, we will leverage:
• Morpho API and SDK for seamless protocol interaction.
• The Graph (Subgraph indexing) for real-time data retrieval and efficient data handling.
• Modern frontend frameworks(Next JS) and robust backend solutions to ensure high performance and reliability.

Timeline:
We plan to finish the project in 3 months. We aim to launch in 2 months, which includes the design, development and smart contract integrations, including testing. We’ll keep another month for any micro UX enhancements and bug fixes to ensure we put out the best product.

Month 1:
• Finalize design specifications.
• Begin development of the frontend, integrating Morpho API and subgraph indexing.

Month 2:
• Develop portfolio tracking interface to manage positions multichain.
• Complete integration of Morpho Vaults and Markets for Supply/Borrow…
• Conduct internal and external beta testing with early adopters.
• Launch MorphoBuilder beta to the public.
Month 3:

  • Gather feedback from the users and implement UX enhancements to deliver the best user experience.

Metrics for Success

  1. Successful integration with at least 3 chains within the first two months after launch.
  2. TVL Growth: Drive $50M+ Directed TVL across Morpho Vaults and Markets.

*(subject to terms and conditions on how fast the integration can happen)

Future Directions
MorphoBuilder is a solution designed to grow alongside Morpho’s ecosystem. Future iterations include:

  1. Integrating bridges/bridge aggregators: Simplifying access for users holding tokens on other chains, enabling seamless onboarding and utilization of Morpho.
  2. Enhanced educational resources: Developing user-friendly tutorials and guides to explain the protocol and associated risks, making it easier for users to understand and get started.
  3. Native mobile application: Building a mobile app with features like account abstraction, social login, easy fiat on-ramp and off-ramp, and integration of vaults and markets. This will allow retail users to effortlessly invest, earn, and engage with Morpho.”

MorphoBuilder is a transformative step to accelerate Morpho’s adoption across chains, enabling new chains to integrate seamlessly with Morpho through a customizable, open-source interface.

1 Like

The grants selection is now live on Snapshot across the following three proposals:
Part 1
Part 2
Part 3

Multiple proposals were necessary because the number of choices exceeded the limit allowed by Snapshot. Part 3 was created because Superlend’s grant application was deleted from the forum due to a technical error, but was previously submitted on time and meets the eligibility criteria.

The following grants were excluded from the vote due to failure to meet the requirement to define objective metrics:

  • ETH Discount
  • Quid

The following grants were excluded from the vote due to other reasons:

  • Elara Labs (Morpho deployment on Zircuit is impossible due to lacking opcodes).
1 Like

Hey everyone, thanks for the votes and feedback so far!

As the vote is ongoing, I wanted to share a quick update on FlexiFi. We’ve been working tirelessly to bring our vision to life, and I’ve put together a short video demonstrating what we have built so far:

flxf.xyz/demo

I hope this gives a clearer picture of what we’re trying to build and gives you more confidence in our ability to make it come to life with the resources from the grant.

1 Like

The results of the grants voting are in. The following grants will be funded by the Morpho DAO –

  • Unicord Uniswap v4 hook, 15k MORPHO, 3.8M votes
  • Re7 Frontend, 40k MORPHO, 3.7M votes
  • Tenor fixed rate loans, 35k MORPHO, 3.3M votes
  • StakeDAO Curve LP collateral adaptors, 25k MORPHO, 3.2M votes
  • Chaincare charity/public goods funding via Morpho vaults, 10k MORPHO, 3.2M votes
  • Mangrove Morpho integration, 15k MORPHO, 3.1M votes
  • Bleu Builders Cowswap hook, 25k MORPHO, 3M votes
  • IntoTheBlock Morpho dashboard, 15k MORPHO, 2.7M votes
  • Twyne received the next highest amount of votes, but the grant request exceeds the available prize pool so will be skipped.
  • Ojo smart oracles, 5k MORPHO, 2.1M votes
  • TheBigWhale received the next highest amount of votes, but their funding request exceeds the available pool size, so they will be skipped.
  • Blockchain at Berkeley Morpho Telegram bot, 9k MORPHO, 1.8M votes
  • Lagoon DeFikit integration, 4k MORPHO, 1.6M votes

As there are no grants with a funding request <2k MORPHO (the remaining pool size after the grants above), these will be all of the grants funded.

Total: 198k MORPHO

All grantees should edit their original proposal to include a recipient address on Ethereum to receive their award. This must be completed no later than March 7 to remain eligible.

7 Likes

As I can’t edit our proposal (most likely due to the post edit time limit), here is the address for the Unicord grant:

0xB4E906060EABc5F30299e8098B61e41496a7233c

Thanks!

1 Like

I can also not edit my initial proposal.
For our Students of Berkeley, here is the address we would love to receive the grant:
0x704c38115f8c8dDCF7A7941a4c642CD5514C90aE

For the bleu builders grant the address is this one:
address:0x5D40015034DA6cD75411c54dd826135f725c2498
ensName:bleubuilders.eth