Announcing MORPHO Rewards
To establish Morpho as a community-owned public good, the Morpho Association needs to decentralize the protocol it has launched. Today, we introduce MORPHO, the future governance token of the Morpho DAO, and its first distribution campaign.
Motivation
To establish Morpho as a community-owned public good, the Morpho Association needs to decentralize the protocol it has launched. Today, we introduce MORPHO, the future governance token of the Morpho DAO, and its first distribution campaign.
Shortly, this token will carry out a vote to decide the future evolutions of the Morpho protocol and will help decentralize it. Yet, this decentralization process must be carried out with the utmost care to develop the Morpho Protocol successfully.
Hence, the token initially deployed by the Morpho Association is non-transferable, and it will be up to the community to decide whether to make it transferable or not. The total supply of the token is 1,000,000,000 MORPHO.
Ages & Epochs
Usually, DeFi protocols schedule emissions to and hardcode their reward system years in advance. This is not the case with Morpho. We believe that Morpho's needs will quickly evolve and that it is tough to plan how this will play out.
Thus, Morpho is organized in Ages. An Age is approximately three months that sets new rules for reward emissions, according to the needs of a protocol at this period.
Each age is subdivided into smaller periods named Epochs. Epochs are checkpoints in the age where users can claim their rewards, e.g., With a Merkle tree drop.
Starting Age 1, Epoch 1
The first age of distribution is made to:
- Begin the decentralization of the protocol.
- Bootstrap the initial activity and liquidity of the protocol.
- Bootstrap interest in the Morpho Protocol and get people to understand the new concepts it brings.
The initial distribution retroactively began on 08/06/22 at 5 pm CET to reward initial users and will end on 20/09/22 at 5 pm CET. This Age is divided into three Epochs of approximately 34 days. Learn more about Epochs here.
Five million will be allocated to users of Morpho during this first Age. You can for example access Morpho in here: Morpho-Compound or directly on Ethereum at the following address: 0x8888882f8f843896699869179fB6E4f7e3B58888