Crypto lender Morpho bucks DeFi trend as nonprofit absorbs development team – DL News
- Morpho’s nonprofit arm will absorb Morpho Labs SAS.
- The move addresses perceived tension between equity investors and token holders.
- Founder Paul Frambot said Morpho should reinvest revenue, rather than distributing it among tokenholders.
In an unusual move in the world of decentralised finance, crypto lender Morpho said Friday it would merge its nonprofit and for-profit arms.
Morpho Labs SAS, a French, for-profit software development company, will become a wholly-owned subsidiary of the Morpho Association, a French nonprofit, according to founder Paul Frambot.
The move “ensures complete alignment between the network of contributing entities and the Morpho DAO,” Frambot said in a post on X.
Morpho is one of the largest…
