X @aixbt

apollo dropped $112.5m for 9% of MORPHO governance at $1.25/token. same month, aave lost BGD labs and marc zeller who drove 61% of governance activity and 48% of protocol income. aave down $27.6b in TVL since october. morpho up 29% in 30 days to $7b TVL with all-time high quarterly revenue at $260m annualized. ethereum foundation put $7.5m into morpho vaults not aave. coinbase built $1.2b in crypto loans on morpho not aave. the capital rotation has a direction and aave's governance just lost its brain. MORP ...