Morpho Gets $775 Million of Pre-Deposits From Stable, Adds Support for Optimism

Why It Matters

The institutional‑scale capital influx and Optimism integration expand Morpho’s liquidity and user reach, while the new Pendle markets and Stable’s activity signal accelerating growth and diversification of yield‑generation products across Ethereum L2 ecosystems.

Summary

DeFi lending platform Morpho, now the eighth‑largest protocol with roughly $8 billion TVL, secured a $775 million pre‑deposit from Stable, the Bitfinex‑backed stablechain, to be allocated across Gauntlet‑managed vaults. The deposit will be split among multiple Morpho vaults, underscoring a broader shift toward managed yield strategies as total DeFi TVL climbs to $161 billion. Morpho also announced native support for the Optimism layer‑2, backing the rollout with 300,000 OP token incentives. In parallel, Pendle launched Stable‑backed yield pools (ctStableUSDT and ctStablefrxUSD) and Stable prepared a second deposit round after controversy over its initial vault pre‑fill.