# MIP - ERC4626 Adapter Whitelisting **URL:** \ **Category:** Morpho Optimizer\ **Created:** [November 9, 2022, 7:57am UTC](https://forum.morpho.org/t/mip-erc4626-adapter-whitelisting/178 "2022-11-09T07:57:48Z")\ **Posts on this page:** 4\ **Page:** 1
**Author:** ![MerlinEgalite](https://dub1.discourse-cdn.com/flex013/user_avatar/forum.morpho.org/merlinegalite/32/152_2.png) [@MerlinEgalite](https://forum.morpho.org/u/MerlinEgalite)\ **Post date:** [November 9, 2022, 7:57am UTC](https://forum.morpho.org/t/mip-erc4626-adapter-whitelisting/178/1 "2022-11-09T07:57:49Z")
# Summary Proposal to whitelist Morpho’s ERC4626 vaults and the rewards distributor contract to transfer $MORPHO tokens to users. Moreover, this proposal includes the whitelisting of the Sense contracts. # Context The Morpho DAO recently deployed [Morpho’s vaults](https://developers.morpho.xyz/interact-with-morpho/deployments). To be able to redistribute $MORPHO rewards among vault users, a set of smart contracts must be whitelisted to transfer MORPHO tokens. As of now, the $MORPHO token (deployed [here](https://etherscan.io/address/0x9994e35db50125e0df82e4c2dde62496ce330999) and the repository can be found [here](https://github.com/morpho-dao/morpho-token)) is not transferrable. However, the $MORPHO token implementation has different roles: - **0)** Allows triggering `transfer` and `transferFrom` functions. - **1)** Allows to mint tokens (only the DAO multisig has this role) and Allows 0). The [`RewardsDistributor`](https://etherscan.io/address/0x3b14e5c73e0a56d607a8688098326fd4b4292135) for Morpho-Aave and Morpho-Compound has the role 1), so that users can claim their $MORPHO rewards. # Rewards Distribution for Vaults Morpho’s vaults are considered regular Morpho’s users which means that they are entitled to $MORPHO rewards. Anyone can claim the vault’s rewards on their behalf by sending $MORPHO tokens to the vault. On each vault, a transfer function lets the transfer of ERC20 tokens (only by the DAO). To be able to redistribute those rewards to the Vault’s users (like Sense which has written a similar proposal that we could bundle into one single snapshot vote), we are proposing the following: - The function mentioned above can be used to then send $MORPHO tokens to a fresh new `RewardsDistributor` specific to the vaults deployed [here](https://etherscan.io/address/0x60345417a227ad7e312eaa1b5ec5cd1fe5e2cdc6). - The mechanism of this `RewardsDistributor` would be exactly the same as for Morpho’s core protocol. Thus, a Merkle tree must be updated after the end of each epoch. This solution avoids modifying the construction of the Merkle tree related to Morpho’s core protocol and thus allows a more scalable way to manage rewards. **For this mechanism to work, the new `RewardsDistributor` contract as well as all vaults’ contracts must be granted the role 1).** You can find vault addresses in the [Morpho developer’s documentation](https://developers.morpho.xyz/interact-with-morpho/deployments). # Conclusion We propose to grant role 1) on the $MORPHO token to: - The new [RewardsDistributor](https://etherscan.io/address/0x60345417a227ad7e312eaa1b5ec5cd1fe5e2cdc6) for the vaults - All [Morpho’s vaults](https://developers.morpho.xyz/interact-with-morpho/deployments) **We also propose bundling this proposal with Sense’s one to whitelist their contracts so they can redistribute rewards among their users.** ---
**Author:** ![jparklev](https://avatars.discourse-cdn.com/v4/letter/j/ee59a6/32.png) [@jparklev](https://forum.morpho.org/u/jparklev)\ **Post date:** [November 10, 2022, 5:07pm UTC](https://forum.morpho.org/t/mip-erc4626-adapter-whitelisting/178/2 "2022-11-10T17:07:18Z")
This sounds great, and at Sense we’re fully supportive of this 🙂 So far the addresses we have from our side are: - our own rewards distributor [RewardsDistributor | Address 0x6bce2D632fc8a327e6Ea353b028999bfCbCb6fcD | Etherscan](https://etherscan.io/address/0x6bce2D632fc8a327e6Ea353b028999bfCbCb6fcD) - the maDAI adapter [ERC4626Adapter | Address 0x9887e67AaB4388eA4cf173B010dF5c92B91f55B5 | Etherscan](https://etherscan.io/address/0x9887e67AaB4388eA4cf173B010dF5c92B91f55B5) We expect to also deploy a `maUSDC` adapter and a `maUSDT` adapter next week – we’ll drop those addresses here as well then ---
**Author:** ![MerlinEgalite](https://dub1.discourse-cdn.com/flex013/user_avatar/forum.morpho.org/merlinegalite/32/152_2.png) [@MerlinEgalite](https://forum.morpho.org/u/MerlinEgalite)\ **Post date:** [November 10, 2022, 8:41pm UTC](https://forum.morpho.org/t/mip-erc4626-adapter-whitelisting/178/3 "2022-11-10T20:41:09Z")
Thanks so much @jparklev. We’ll keep you posted for the coming vote. ---
**Author:** ![MerlinEgalite](https://dub1.discourse-cdn.com/flex013/user_avatar/forum.morpho.org/merlinegalite/32/152_2.png) [@MerlinEgalite](https://forum.morpho.org/u/MerlinEgalite)\ **Post date:** [December 4, 2022, 1:56pm UTC](https://forum.morpho.org/t/mip-erc4626-adapter-whitelisting/178/4 "2022-12-04T13:56:21Z")
The vote is now live [here](https://snapshot.org/#/morpho.eth/proposal/0x816e4971cd3919bc8df7ad0892ead985f8eba8d72a7644a6b5a022847b123059). And below is the related forum post with the other Sense addresses to whitelist. > [@Whitelisted MORPHO Transfers for Sense Integration](https://forum.morpho.org/t/whitelisted-morpho-transfers-for-sense-integration/151): > > Hi all, this is Josh from Sense Finance. If you’re not familiar, [Sense](https://sense.finance/) is an ecosystem platform where teams can build and develop new [fixed-income](https://www.investopedia.com/terms/f/fixedincome.asp) primitives for DeFi, such as bonds, yield-tokens, tranches, and yield curves. You might’ve seen our [announcement](https://twitter.com/senseprotocol/status/1569695129384124416) recently about our partnership with Morpho – in short, we’re planning to create new interest rate markets on Morpho, unlocking fixed rates and future yield trading on your yield-bearing assets (Morpho Vaults). To make our integration even …