the DeFi lending platform Morpho has received a $775 million pre-deposit from Stable (a stablecoin blockchain supported by Bitfinex).

The platform revealed in a post on X platform (formerly Twitter) on Wednesday morning that this funding will be managed by the treasury managed by the risk management agency Gauntlet, and distributed to multiple treasuries of Morpho. Based on the total value locked (TVL), Morpho is currently the eighth largest DeFi protocol.

Morpho also announced today that its application now supports the Ethereum Layer2 scaling solution Optimism. According to the DeFi data platform DeFiLlama, the current TVL of the DeFi locked in the Optimism ecosystem is approximately $350 million.