MIP 94 - Berachain License Fee Usage Clarification (Snapshot)
Summary:
This proposal requests that the DAO approve directing Berachain’s license fees to the Morpho Association, a nonprofit supporting Morpho, instead of the DAO treasury. This avoids tax complications and ensures the funds contribute directly to protocol development.
Vote: For
Rationale:
We previously supported Berachain’s use of the Morpho license in the prior proposal.
While it is not ideal for the Association to receive the funds instead of the DAO, we view it as a practical approach to avoid potential tax issues. Considering the Association’s track record so far, we do not see this as a major concern.
MIP 95 - MORPHO Reward Rate Reduction 3 (Snapshot)
Summary:
This proposal suggests reducing the MORPHO reward rate on both Ethereum and Base by 25% to maintain competitive yields and sustainable incentives. It marks the third successive reduction since December, aiming to gradually phase out rewards in response to market conditions.
Vote: For
Rationale:
We support this proposal because it makes sense to reduce excessive incentives and reallocate funds toward more strategic investments. While Morpho’s growth has calmed somewhat under current market conditions, that slowdown isn’t a major concern given the broader stagnation in the lending sector. Now that rewards have moved closer to a proper level, a more careful, incremental approach will be needed to maintain healthy, long-term growth.
MIP 96 - Frontend for Compound <> Morpho <> Polygon Collaboration (Snapshot)
Summary:
This proposal requests $52,000 in MORPHO tokens to build an open-source frontend for a Compound x Morpho integration on Polygon. By leveraging partial funding from Morpho alongside Polygon and Compound incentives, it aims to boost lending markets and drive new liquidity.
Vote: Approve
Rationale:
While the potential competitive relationship between Compound and Morpho was noted in the original proposal, we don’t see it as a problem. Or at least, Morpho receives a clear growth benefit from this collaboration.
Morpho’s share of the funding seems reasonable as well, considering the benefit Morpho will have and what Compound and Polygon will be investing to this collaboration.
Above all, having an open-source frontend is a major advantage, as it will make it easier for curators and others to build their own UIs in the future.