What is Morpho?
Morpho is a non-custodial lending protocol. Here's what its isolated markets are and how borrowing USDC against crypto works on it.
Morpho is a non-custodial lending protocol. Lenders supply assets to earn yield, and borrowers post collateral to borrow against it. Skope uses Morpho on Base to borrow USDC against your crypto.
Isolated markets
Morpho is built from isolated markets, each defined by a loan asset, a collateral asset, a price oracle, an interest-rate model, and a liquidation LTV. Isolation means each market's risk is contained rather than shared across a single large pool.
Non-custodial
You interact with Morpho directly from your wallet; your collateral sits in your own position. Skope never takes custody; it simply helps you open the position and turn borrowed USDC into a card.
Frequently asked questions
- Is Morpho custodial?
- No. Morpho is a non-custodial protocol; your collateral remains in your own on-chain position and you can repay and withdraw it yourself.
Borrowing is over-collateralized and carries risk: if your collateral's value falls, your position can be liquidated. Rates shown are variable and update with the market. Skope is non-custodial and never holds your funds. This page is for general information only and is not financial, investment, tax, or legal advice.