We're always on the lookout to add new features and protocols for the benefit of our users. The upcoming integration with Morpho Blue is no exception - borrowing in DeFi is about to improve.
Why did we decide to integrate it?
We aim to establish Summer.fi as the go-to platform in the DeFi space for both lending and borrowing, and this integration with one of the key players in the business gets us a step closer. Imagine a place where every feature is designed with user experience in mind. We're talking about a platform that's powerful in its features and intuitive in its use. In the long run, we envision Summer.fi as a cornerstone of the DeFi ecosystem, continuously innovating and evolving to meet the ever-changing needs of our users.
Morpho Blue emerges as a novel trustless lending protocol, setting a new benchmark in the sector with its unmatched efficiency and flexibility. Summer.fi is building on Morpho Blue's permissionless foundation to offer users a superior borrowing experience.
Summer.fi's integration with Morpho Blue is about improving existing systems and redefining how users engage with decentralized finance.
What will you do with Summer.fi and Morpho Blue
To start, you can access two of our products, Borrow and Multiply. For Borrow, and to enhance user experience, we've combined depositing and borrowing, repaying and withdrawing, into two smooth steps. Initially, the platform will support key asset pairs and add more as the markets evolve. The process offers flexible repayment options and rapid access to your assets. Multiply is one of our favorite features; with just a few clicks and a smooth, intuitive slider you can increase or decrease your exposure to the asset of your choice, and as usual, opening a Multiply position is free of charge.
What is Morpho Blue?
Morpho Blue is a new trustless base layer for decentralized lending that enables the creation of isolated lending markets for any asset.
Morpho Blue prioritizes efficiency and flexibility. More specifically, providing borrowers with:
- Higher leverage: Morpho Blue creates isolated markets. Unlike multi-asset pools which must consider the riskiest asset in the basket, liquidation parameters for each market only need to consider the loan and collateral assets. Markets can have higher liquidation LTV as a result.
- A wider range of markets: Morpho Blue features permissionless asset listing. Markets with collateral and loan assets and risk parametrization can be created. This will allow borrowers to unlock liquidity on assets not listed elsewhere.
- Improved interest rates: Collateral assets are not lent out to borrowers. This allows Morpho Blue to offer higher capital utilization. Moreover, Morpho Blue is fully autonomous, so it does not need to introduce fees to cover costs for platform maintenance and risk managers.
- Very low gas costs: With a remarkably simple singleton contract consisting of only 650 lines of code, it has less logic and a reduced storage footprint. Actions on Morpho Blue cost users ~70% less gas than AaveV2.
The countdown has begun! We're targeting the integration in January 2024, ensuring everything is perfectly polished. Watch our announcements for when you can use our groundbreaking features.
We believe in not just providing tools but also in fostering a community. Join us in our regular X Spaces where we'll answer your questions, gather feedback, and share insights. It's your opportunity to engage directly with our team and guests to ask them yourself and get first-hand alpha and information.
Getting in touch
If you have any questions regarding Summer.fi, contact us at firstname.lastname@example.org or our social media.