TechFlow news — On November 18, according to official announcements, DeFi lending protocol Morpho revealed that its governance token MORPHO will enable transfer functionality on November 21. Since its launch in June 2022, the Morpho DAO has been progressively distributing ownership to protocol users, strategic partners, risk assessors, and other contributors. Initially deployed as non-transferable tokens, the decision to activate transfers rests with the DAO rather than any centralized entity. During the non-transferable phase, the DAO prioritized allocating ownership among three key groups: users, contributors, and strategic partners.
To enable on-chain voting tracking, the Morpho DAO voted on proposal MIP-75 to deploy a wrapper contract that will convert the original MORPHO tokens into a new version. Users can perform a 1:1 conversion of their original tokens into the new tokens via this wrapper contract, which will be accessible through the Morpho App after transfers are enabled. To prevent misuse of the original tokens by external integrations (such as exchanges), only the new version of MORPHO tokens will have transfer capabilities.
