According to PANews, the founder and CEO of Ethereum Layer2 project Morph, Cecilia Hsueh, announced that Morph is currently in its testnet phase. The testnet has recorded a total of 26 million transactions and 1.5 million wallet addresses. The mainnet and staking for Morph are scheduled to go live in the third quarter of 2024, with an update to support account abstraction and Layer3 expected in the fourth quarter of the same year.

Earlier, on March 20, it was reported that Morph secured $19 million in seed funding, led by DragonFly Capital.