Decentralized lending platform Morpho has unveiled a new version of its product that adds a number of features, including fixed-rate and fixed-term loans, according to a company blog post published yesterday, June 12.

Morpho is currently the second-largest lending protocol in decentralized finance (DeFi), with over $6 billion in total value locked (TVL). Morpho’s TVL increased 150% just a few months after its token, MORPHO, launched in November 2024. The protocol’s native token is currently trading near $1.40, down over 8% today in the broader market downturn, but up almost 10% this week.

Morpho V2 offers more bespoke and more predictable loan terms, bringing DeFi closer to traditional finance, the platform’s co-founder CEO, Paul Frambot, wrote in the post. One goal is to make DeFi more comfortable to enterprises and institutions interested in exploring on-chain finance.

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