MIP 85 - Whitelist Aerodrome in Aera Vault Strategy (Snapshot)
Summary:
By whitelisting Aerodrome, this proposal seeks to enhance liquidity efficiency and capitalize on AERO rewards while adjusting allocations dynamically.
Vote: For
Rationale:
Supporting the liquidity of the MORPHO token contributes to the stable growth of the project. Combined with Uni v3, which is already whitelisted on Base, we expect this to improve the overall liquidity of the MORPHO token across Base.
MIP 86 - MORPHO Reward Rate Changes (Snapshot)
Summary:
The proposal seeks to reduce MORPHO reward rates on ETH and BTC-denominated assets to optimize DAO expenditure while maintaining competitive incentives across all assets.
Vote: For
Rationale:
The proposed changes appear to maintain a sufficiently competitive yield compared to key competitors, ensuring user attraction while optimizing costs.
With more detailed data expected early next year, we look forward to contributing to future discussions on incentive design that are grounded in robust data analysis.
MIP 86 Amendment (Snapshot)
Summary:
MIP-86 adjusted the reward multiplier, setting a 2/3 multiplier for ETH assets and 1/6 for BTC assets without specifying a timeline. This amendment proposal responds to those concerns by introducing a three-phase, six-week implementation period, easing the transition and reducing potential market disruptions.
Vote: For
Rationale:
We believe a sudden, one-shot reward reduction could unexpectedly trigger a steep TVL decline, so a phased approach lets us monitor and respond quickly if TVL decreases beyond expectations. While the estimated $600k cost for this multi-stage method based on our calculation is a concern, we view it as a reasonable trade-off compared to the risk of losing a significant portion of our accumulated TVL at once.
MIP 87 - Crosschain Deployments Framework (Snapshot)
Summary:
This proposal outlines a framework for the Morpho Protocol’s crosschain deployment, enabling its codebase to extend to multiple blockchains without initial frontend or incentive support. Independent contributors are encouraged to build on these deployments, fostering decentralized innovation.
Vote: For
Rationale:
This allows the core team to focus solely on the deployment of the core protocol, significantly reducing their workload related to crosschain deployments. Additionally, by encouraging external developers to create independent frontends on specific chains, the framework fosters flexible user experiences and facilitates the addition of unique features tailored to individual ecosystems.
MIP 88 - Oku Crosschain Deployment Support (Snapshot)
Summary:
GFX Labs requests $400,000 for interface development, maintenance, and continuous updates to meet the growing demand.
Vote: For
Rationale:
It allows Morpho’s core team to focus on protocol deployment while Oku provides a valuable initiative on the frontend. Although $400k is a significant amount, we believe it will be justified through user onboarding and incentive programs to be realized that attract users on L2 and alt-L1 ecosystems.
For future proposals of this nature, whether submitted by @GFXlabs or other contributors, it would be beneficial to design a compensation scheme that aligns the incentives of the proposer with those of the Morpho DAO as @Leuts suggested. Ideally, the compensation for contributors like @GFXlabs should be more directly tied to measurable performance outcomes, such as the growth in TVL driven by the Oku frontend initiative.