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Morpho launches fixed-rate lending protocol on Base

DeFi protocol Morpho has launched Midnight, a fixed-rate and fixed-maturity lending protocol, on the Base mainnet. The product adds maturity-based lending to Morpho Blue, its variable-rate lending market. Midnight lets lenders and borrowers propose interest rates, maturities and other terms directly, with loans set by competing offers rather than utilization curves or algorithmic pool pricing. It initially supports cbBTC and USDC across multiple maturities.