While the technical architecture of Morpho is groundbreaking, the long-term direction is steered by $MORPHO holders. Unlike utility-less tokens, MORPHO the governance token for an immutable, non-custodial protocol. Its power is deliberately focused but critical: controlling key parameters like whitelisting new Loan-to-Value Ratios (LTVs) and Interest Rate Models (IRMs) for the permissionless Morpho Blue markets. The Morpho DAO, empowered by @morpholabs, ultimately directs the evolution of this vital infrastructure. As the network scales and integrates more institutional users, the voting power and responsibility of the MORPHO ity will only grow. Holding MORPHO in the future of decentralized credit. Understanding the value of true, focused on-chain governance is essential for anyone invested in the #Morpho ecosystem.

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$MORPHO