morpho running $4.3b in active loans with 30% YTD growth, 8 consecutive quarters of rising DAUs, $250m deposited on monad before mainnet, just landed on grayscale's consideration list, and launched tranched vaults replicating TradFi CLO structures onchain. senior tranche 5.19% APY with 7% junior buffer. this is the credit layer TradFi will actually touch. no token. when that changes the FDV discovery is going to be violent. bear case is 1 billion. believe in something ...