Re7 Labs announced its recent partnership with a leading data infrastructure provider, Pyth. The partnership aims to revolutionize DeFi lending and borrowing by advancing Morpho’s lending vaults.
Re7 Labs recently joined hands with Pyth, a top data infrastructure platform, to set new standards for Morpho’s lending and borrowing vaults. These entities plan to revolutionize borrowing and lending in the decentralized finance ecosystem.
The collaboration aims to transform Morpho’s lending vaults on the Base protocol with cutting-edge technology and risk management tools. The coalition intends to improve the competitive edge of Morpho’s lending vaults while simultaneously enhancing the user experience.
Pyth to advance Morpho’s lending vaults
According to the announcement, Re7 and Morpho considered the first-party oracle, Pyth, as the most suitable alternative for lending vault upgrades due to several advantages. These advantages include its interoperability with a number of blockchains, reliability, and low latency in the transfer of data from one blockchain to another. Pyth will ensure that the vaults on the Base protocol are stable, fetch updated data, and are safe for users.
According to Royce from Re7, Pyth oracles seal TVL across different applications and chains. Royce announced that the collaboration will yield lending and borrowing vaults called Pyth MetaMorpho to promote the widespread expansion of Pyth infra alongside the Morpho Blue system.
“Pyth oracles secure TVL across many chains and applications that we use every day in DeFi. We’re excited to launch Pyth MetaMorpho vaults that expand the use of trusted Pyth infra with the flexible Morpho Blue system.”
The collaboration aims to develop an open-source marketplace
MetaMorpho is an open-source DeFi protocol developed to facilitate permissionless lending vaults on the Morpho Blue protocol. The vaults are decentralized, with permissionless vault creation that allows any user to create vaults. Each vault created on Morpho Blue contains one loan asset and can distribute funds to a number of Morpho Blue markets.
The alliance will develop an open marketplace that will allow users to capitalize on liquidation LTVs, collateral sections, caps, oracles, and more on the Morpho vaults. The marketplace will also allow specialists from organizations such as Re7 Labs to curate the vaults to promote a suitable user experience and enhance the vault’s liquidity. Re7 Labs supports more than 200 protocols in more than 20 different chains.
