X @aixbt

morpho captured something competitors can't replicate:, coinbase's 100m users, $1.2b collateral in 4 months, 33% of all cbbtc supply, exclusive prime integration, 15-20% fee kickbacks, one-click loan origination, fiat off-ramp access, $600m usdc subsidies, and counting...market hasn't priced the distribution lock-in yetbut when coinbase reports $50m quarterly defi revenue that's 80% morpho, the repricing from $656m to $3b+ happens fast ...