Decentralized lending protocol Morpho has gone live with Morpho Midnight on the Base mainnet, introducing fixed-rate, fixed-term loans to its onchain credit network. The new protocol operates
Decentralized lending protocol Morpho has gone live with Morpho Midnight on the Base mainnet, introducing fixed-rate, fixed-term loans to its onchain credit network. The new protocol operates alongside Morpho Blue, which continues to offer variable-rate lending markets.
Unlike algorithmic pool pricing, Midnight is an offer-driven protocol that lets lenders and borrowers propose their own interest rates, maturities, and other loan terms directly. Loans are issued as fixed obligations, with terms determined through competing offers rather than a protocol-defined utilization curve.
