Morpho: Midnight Fixed-Rate, Fixed-Term Markets Go Live on Ethereum - 08 Sep 2026
Morpho Midnight is live on Ethereum, adding fixed-term, fixed-rate credit markets to the protocol's lending product. The markets are accessible through the Markets App, where borrowers can lock a rate for a set term and lenders can commit capital at a known return rather than a floating yield.The fixed-rate, fixed-term structure changes how participants use the protocol: borrowers hedge funding costs and lenders accept a defined duration in exchange for certainty. Extending Midnight to Ethereum places the product in front of the largest potential market Morpho can reach, which supports higher expected protocol usage and fee accrual for MORPHO as the markets ramp. Adoption depends on demand for fixed-rate credit, so usage may build gradually rather than immediately.Morpho Midnight is now live on Access fixed term, fixed rate credit via the Markets App