Morpho Labs, a DeFi lending protocol, announced on November 18 that preparations for the MORPHO token are complete. The token transfer function will be enabled on November 21. MORPHO is the governance token for the Morpho protocol and Morpho DAO, which is made up of MORPHO holders and delegators, will manage the protocol.
The governance system uses a weighted voting system, where the amount of MORPHO tokens held determines voting rights.