Ethereum-based decentralized finance (DeFi) protocol Morpho has become the first layer-2 in Base, the L2 scaling network for Ethereum that Coinbase introduced in 2023. 🚀 Morpho's go live on Base aims to enter a growing DeFi ecosystem. "I wanted Morpho to maintain a narrow focus because we couldn't imagine a new distribution would double Morpho's TVL. But things have changed," said Morpho Labs CEO Paul Frambot. Morpho's platform on Base may surpass the Ethereum version within the next year. Currently, DeFiLlama data shows Morpho's total value locked (TVL) is $1.82 billion. This shows that the on-chain P2P layer has seen a year-to-date increase in TVL of approximately 205%, considering that TVL at the beginning of the year was approximately $597 million.