Cooperation officially landed last month through the Oku Trade front-end platform.@Morpho Labs 🦋 The protocol has been successfully deployed on Etherlink. The core highlight of this integration is the introduction of real-world assets as collateral. The most striking example is the xU3O8 token from Uranium.io. This is a tokenized version of real uranium minerals, allowing users to deposit these 'yellow cakes' (the colloquial term for uranium concentrate) into Morpho's vault and then lend out stablecoins like USDC. Imagine holding physical uranium assets while being able to lend funds like in DeFi, without having to sell the underlying assets. This is not just a technical gimmick; it directly addresses the liquidity challenges that uranium investors have faced for a long time. Uranium, as an energy commodity, is in a super cycle, especially with the skyrocketing demand for nuclear energy from AI data centers. Microsoft's recent 20-year nuclear power contract is a testament to this. Against this backdrop, the combination of Morpho and Etherlink brings RWA from concept to practicality, allowing users to hold long-term uranium positions while deploying funds in DeFi, achieving dual use of capital.
But this cooperation goes far beyond uranium. It has also expanded Etherlink's DeFi ecosystem, including yield tokens like mRe7YIELD as collateral. Morpho's vaults are curated by professional risk managers such as MEV Capital, ensuring institutional-level risk control. This reminds me of the broader crypto trend: RWA is becoming the next growth engine for DeFi. From BlackRock's tokenized funds to real estate NFTs, the on-chain of real assets is accelerating the integration of traditional finance and blockchain. Take Tezos, for example; it is known for being environmentally friendly (the Proof of Stake mechanism is far more energy-efficient than Bitcoin), and now, by connecting to the EVM world through Etherlink, it is attracting more developers. Compared to other L2s like Optimism or Arbitrum, Etherlink's non-custodial design (where users always control their assets) provides an extra layer of security, which is particularly valuable in the DeFi space where hacker incidents are frequent.
Any innovation comes with risks. The on-chain of RWA relies on reliable oracles and custody mechanisms; if there are problems with the physical storage of uranium, the entire on-chain value could be shaken. However, Morpho's modular design allows users to customize their risk curves, making it more flexible than a one-size-fits-all protocol. Given the overall crypto environment, this year's DeFi TVL has exceeded $100 billion, with L2 networks contributing most of the growth. The cooperation between Morpho and Etherlink acts like a catalyst, pushing Tezos from a paradise of art NFTs to a comprehensive financial hub.
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$MORPHO
