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.@Morpho is becoming the default lending rail in DeFi.
Over the last 12 months, they've had:
+ 257K monthly active users
+ 44% MAU share across top lending apps
+ ~2.2× @aave’s user activity
Holding nearly 1 in every 2 lending users for a full year tells you this isn’t a run.
It’s integrations compounding, vaults routing volume and users coming back because the UX friction is lower.
But users alone don’t win. The real unlock is borrow depth:
→ deeper liquidity
→ resilience
→ becoming the default route for vaults and treasuries
That’s the line between popular and infrastructure.
Data: @tokenterminal