Wu Shuo learned that, according to Token Terminal data, Morpho borrowers have paid approximately $170 million in interest over the past year. Estimating a 10% fee rate, Morpho DAO’s annualized revenue is approximately $17 million, corresponding to a valuation of about $1.7 billion. For comparison, Aave’s current annualized revenue is approximately $140 million, corresponding to a valuation of about $1.5 billion. https://t.co/USpEqt8usg
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