MORPHO: Protocol Take Rate [%]
Included with Plus.
The share of the fees paid to Morpho on Ethereum that Morpho kept as revenue each day.
Why use it. The take rate is the protocol's pricing power: how much of each dollar users pay it keeps for itself. How to read it. Higher means more of the fees stay with the protocol; a jump marks a change in its fee settings or in which of its products earn the fees.
Calculation. Take rate = revenue / fees x 100 for each day. Fees are what users pay to use a protocol: interest paid by borrowers, swap fees paid by traders, rewards earned by staked ether. The supply side is the part paid out to whoever supplies the capital (lenders, liquidity providers, stakers); revenue is the rest, what the protocol keeps; the take rate is revenue divided by fees. Lending (Aave, Spark, Compound v3, Morpho, Sky): each hour's interest accrues on the market state at the end of the hour before, at that state's rates, as each protocol accrues it: borrowers pay debt x ((1 + borrow APY)^(1 hour / 1 year) - 1); lenders on Aave, Spark and Compound earn supplied x the per-second supply rate x 3,600; on Morpho Blue lenders earn the borrowers' interest less the market's fee; Sky's vaults have no lenders, so their stability fees are all revenue. Every reserve and market of these protocols counts, read on CryptoKeyhole's own Ethereum archive node each hour; dollar stablecoins count one dollar, ether and wrapped bitcoin at CryptoKeyhole's hourly prices, other tokens at the protocol's own oracle price that hour; Morpho Blue markets with bad debt and tokens without a price are left out. Interest only: flash-loan and liquidation fees and reward tokens are not included. History begins on 19 October 2026, 15:00 UTC, the first hour after every market's size has been kept. Every Morpho Blue market on Ethereum; Morpho also runs on Base and other networks, not counted. Most markets charge no protocol fee, so nearly all of the interest goes to lenders. Ethereum mainnet deployments only: each protocol's other networks are not counted, so these are lower than the protocols' worldwide totals. Hourly values: each completed UTC hour once its blocks are final on our node, so the latest hour shown ended one to two hours earlier; a day is the sum of its 24 hours, and the open day is a partial through the latest hour.