DeFi Lending’s Risk-Reward Ratio Sparks Debate Between Researchers and Curators
An analysis of Morpho markets finds depositors are undercompensated by 5-10x. Curators counter that empirical loss data tells a different story. Overcollateralized lending has emerged as one of DeFi’s most durable primitives. Morpho alone holds roughly $7 billion in TVL, according to DeFiLlama, with distribution via Coinbase, Kraken, and other front ends. Apollo Global Management…