X @Token Terminal 📊

RT DeFi Andree (@DeFi_Andree)Coinbase just made DeFi its lending engine.• Steakhouse’s USDC vault on Morpho went 5x in January to ~$450M.• ~$428M is deployed to borrowers posting cbBTC collateral.• Depositors earn ~4.21% APY.> Flow is the signal• USDC in the Coinbase app → routed to @Morpho vaults• cbBTC borrowers tap that liquidity → @coinbase keeps the UXCeFi is becoming the frontend.DeFi is becoming the balance sheet.If more exchanges copy this playbook, Morpho style rails become the default backend for ...