What is Morpho?

Morpho is a leading DeFi lending and borrowing network on Ethereum, designed to maximize capital efficiency, security, and flexibility. Unlike traditional lending platforms, Morpho introduces:

• Isolated lending markets for risk management
  
  

• Customizable collateral assets for broader utility
  
  

• Advanced liquidation mechanisms to safeguard users

Morpho is governed by the Morpho DAO and powered by the $MORPHO governance token, which enables token holders and delegates to shape protocol upgrades, treasury management, and parameter decisions.

The Circulating Supply Challenge

For exchanges, investors, and regulators, accurate circulating supply reporting is critical. However, tokenomics complexity makes this non-trivial:

• Cross-chain token reconciliation: $MORPHO exists as a legacy ERC-20 on Ethereum and wrapped versions on Base. Without proper reconciliation, tokens risk being double-counted or excluded.
  
  

• DAO & treasury wallets: Contributor safes, rewards wallets, and treasury balances may appear “in circulation” on-chain but are not truly circulating.
  
  

• Dynamic vesting schedules: Claimed vs. unclaimed tokens, revoked grants, and time-based unlocks complicate supply calculations.
  
  

• Exchange compliance: Many top-tier exchanges (especially in Asia) require detailed release schedules broken down by month, category, and projected out 36 months. Projects often spend significant resources updating these feeds manually.

TokenOps’ Approach

TokenOps provides a scalable, automated framework that ensures supply figures are accurate, auditable, and easily shared:

• Tracks and filters Morpho-controlled wallets to exclude non-circulating balances.
  
  

• Monitors vesting contracts, adding back claimable tokens and excluding revoked grants.
  
  

• Aligns wrapped and legacy tokens to prevent double-counting across chains.

• Exposes real-time API endpoints for public consumption: /circulating/morpho for combined supply and /circulating/{token_address} for contract-specific figures, available in JSON or plain text.

This system not only automates complex calculations but also maintains trust with third parties, as investors, exchanges, and dashboards like CoinMarketCap, CoinGecko, and Dune can verify the numbers independently.

Supporting CEX Listings & Regulatory Compliance

TokenOps also streamlines listing readiness:

• Pre-TGE, projects focus on top exchanges which are expensive; post-TGE, other reputable exchanges are targeted.
  
  

• TokenOps simplifies compliance with diverse formats and detailed requests, especially from long-tail Asian exchanges.
  
  

• By standardizing data and automating updates, projects save time, reduce errors, and remain prepared for regulatory checks.

Impact for Morpho & the Wider Industry

For Morpho, TokenOps delivers:

1. Investor and exchange readiness: Trusted, verifiable supply figures simplify fundraising and listing processes.
   
   

2. Accurate public metrics: Consistent data across dashboards avoids confusion and misreporting.
   
   

3. Trust through third-party validation: APIs and automated calculations ensure transparency that can be independently confirmed.
   
   

4. Scalable complexity management: Cross-chain tokens, vesting, and DAO treasuries are handled automatically, avoiding custom reconciliation burdens.
   
   

5. Long-term credibility: Accurate token metrics support governance, treasury management, and external perception as the project grows.

What Morpho and TokenOps Say

"Working with TokenOps has transformed how we manage circulating supply. Their automated framework lets us reconcile cross-chain balances, handle dynamic vesting schedules, and provide investors and exchanges with a transparent, trusted view of our token metrics."
Paul Frambot, Co-Founder & CEO, Morpho Labs

"Accurate token metrics are critical for trust and operational efficiency. TokenOps enables Morpho to automate vesting logic, filter non-circulating balances, and deliver real-time, verifiable data—helping the protocol maintain transparency at scale."
Fabio Mancini, Co-Founder & CEO, TokenOps

About TokenOps

TokenOps.xyz is a comprehensive token operations and lifecycle management platform. We empower teams to create and manage on-chain token distributions with precision and compliance.

Our solutions include:

• Token Vesting and Distribution: Automate complex vesting schedules with customizable templates, on-chain security, and perfect alignment with legal agreements

• Cap Table Management: Gain full visibility into token flows across multiple chains and protocols, with powerful tools to track and visualize token emission pre-launch and post-TGE

• Global Tax Withholding: Navigate international tax compliance seamlessly during token distribution operations, ensuring regulatory adherence across jurisdictions

• Token Airdrops: Deploy custom airdrop campaigns with strategic lockups to maximize community engagement through multiple distribution methods

Contact Us

Interested in learning more about TokenOps and how our solutions can help to manage and track your token distribution operations?

• Schedule a Demo: Book a personalized demonstration of our token distribution operations platform

• Email: hello@tokenops.xyz

• Visit: tokenops.xyz

• Follow Us: Stay updated with our latest developments on X and LinkedIn