Summary
Authorize $172k in MORPHO incentives for the Tempo instance of the Morpho protocol, and the deployment of the MORPHO token.
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.
Additionally, this MIP would authorize the Morpho Association to deploy the MORPHO token on Tempo. Prior to this deployment, rewards may be distributed on Ethereum or other network.