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X @Ignas | DeFi
Ignas | DeFi· 2025-07-09 19:09
RT TokenLogic (@Token_Logic)$AAVE continues to outperform $MORPHO on all fronts.Since last year:▪️ $AAVE +267%▪️ $MORPHO +8%Aave’s FDV is 3.5x higher than Morpho’s, with 95% of its supply circulating versus 32% for Morpho, and 100% unlocked versus only 17%.If you look at the FDV relative to active loans, Aave is nearly twice as capital efficient as Morpho.Each $1 of Aave’s FDV supports ~$3.70 of active loans, while for Morpho it’s only ~$1.70.Even more, Aave is buying back $AAVE with real revenue, while Mor ...