The largest crypto exchange platform in the world by trading volume has rolled out support for the native asset of an enterprise-focused, on-chain lending network.
Binance listed the decentralized finance (DeFi) project Morpho (MORPHO) via its HODLer Airdrops program, which rewards BNB holders with select tokens based on historical snapshots of their balances.
Morpho bills itself as “the most trusted on-chain lending network,” noting it has more than $10 billion in deposits.
“Businesses can connect to Morpho’s open infrastructure to power any lending or borrowing use case at scale, including embedded crypto-backed loans and custom yield solutions.”
Binance listed the asset for trading on Friday. The exchange attached a seed tag to MORPHO, a designation it applies to lower-liquidity projects that could potentially exhibit higher volatility compared to other listed assets. Binance requires users who want to trade assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks.
MORPHO, which Coinbase listed in February, is trading at $1.86 at time of writing. The 164th-ranked crypto asset by market cap is down more than 4% in the past 24 hours and down over 55% from its all-time high $4.17, which it hit in January of this year.
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