01
Part 1December 24, 202530 min read
Morpho Internals Part 1: Morpho Blue
Deep dive into Morpho Blue's core contract—market creation, supply/borrow/collateral flows, liquidation math, and interest accrual mechanics.
Source code walkthrough
Morpho Internals Series
A deep-dive into the Morpho codebase. This is a line-by-line level walkthrough that you rarely find elsewhere.
Morpho Internals
Read the series like a book
02
Part 2December 25, 20251 hour read
Morpho Internals Part 2: IRMs
How Morpho Blue computes borrow rates: FixedRate warm-up and a deep dive on AdaptiveCurve with utilization-driven anchor updates.
03
Part 3December 31, 202530 min read
Morpho Internals Part 3: Oracle
A deep dive into Morpho's oracle surface area and MorphoChainlinkOracleV2: ERC4626 vault conversions, base/quote feed wiring, two-hop unit cancellation, and the 1e36 SCALE_FACTOR derivation.
04
Part 4January 02, 202630 min read
Morpho Internals Part 4: MetaMorpho
How MetaMorpho wraps Morpho markets into a single ERC4626 vault with supply/withdraw queues, role-gated caps, and fee/timelock design.
05
Part 5January 04, 202630 min read
Morpho Internals Part 5: Integration Security Guide
A security-focused guide for integrating with Morpho: an expanded walkthrough of the official integration checklist, with concrete pitfalls and code-level explanations for core and MetaMorpho vault flows.
Next up
More Internals series on deck
Pendle Internals
QueuedYield routing primitives, hooks, and how points and curves interact with risk.
Balancer V2 Internals
QueuedVault accounting, pool math, and MEV-aware design choices for LP health.