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Governance Delegation
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MIP 93 - Grants Pilot Program Selection (Snapshot) Part1, Part2,Part3

Summary:

The proposal is to allocate up to 200k MORPHO to various grant applications by ranking them according to the number of votes they receive. Because there are more grant applications than Snapshot allows in a single vote, the MIP is split into two proposals so delegates can select their preferred grants across both.

Vote:

We voted for the applications below

  • Bleu Builders (Hook) 25k MORPHO
  • Stake DAO 25k MORPHO
  • Twyne 50k MORPHO
  • Ojo 5k MORPHO
  • Tenor 35k MORPHO
  • Unicord 15k MORPHO

Rationale:

  • Bleu Builders (Hook) 25k MORPHO:
    • Morpho CoW Hooks by bleu builders integrates custom pre- and post-swap actions into CoW Swap, streamlining Morpho position management into single-transaction operations.
    • With CoW’s high trading volume, deposits can flow into Morpho in just one transaction, which greatly reduces the onboarding hassle.
    • While users might still have to revisit Morpho later to check/manage their positions, the reduction in onboarding friction alone offers clear substantial value.
    • We also trust the team given their proven track record with multiple CoW projects and appreciate their clear milestones and metrics.
  • Stake DAO 25k MORPHO:
    • Stake DAO’s proposal introduces a Morpho-specific wrapper for OnlyBoost V2 that lets users use their Curve LP tokens as collateral while still earning optimized CRV rewards and extra incentives.
    • It addresses a critical issue in the DeFi space. Although there are many reasons why LP tokens haven’t been widely used in lending, this solution moves us in the right direction.
    • The proposal offers a strong value proposition by allowing LP tokens to earn yield while also serving as collateral for borrowing other assets.
    • We trust the team, given their proven experience with the Curve and Convex ecosystems.
  • Twyne 50k MORPHO:
    • Twyne’s solution optimizes the use of collateral on Morpho, ensuring that credit is effectively directed to maximize liquidity and performance.
    • Capital efficiency is a critical issue in DeFi, including within Morpho, and Twyne’s unique approach to enhancing it is very promising.
    • If, in the future, risk curators are allowed to permissionlessly deploy credit vaults, it would fundamentally enhance Morpho’s performance.
    • The advantages for users are clear and highly valuable, and the team’s background is robust, which adds credibility to the project.
  • Ojo 5k MORPHO:
    • This introduces a dual-feed Smart Oracle that enhances price security for derivative assets on Morpho by combining market and discount rate data.
    • The Principal Token market, which this proposal tackles, has the potential to expand, and in such a scenario, a mechanism like this would become even more essential.
    • They have proven expertise, demonstrated by successful deployments across multiple chains and robust contributions to the DeFi ecosystem.
  • Unicord 15k MORPHO:
    • Unicord is a protocol that maximizes liquidity provider yields by integrating permissionless Uniswap V4 hooks with Morpho’s lending protocol.
    • This mechanism significantly boosts LP returns by capturing both trading fees and interest rate payments.
    • We believe they have the quality to deliver this with the backgrounds such as building Hedgehog vault for Uniswap V3 and winning multiple hackathons.
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