Morpho Labs, a decentralized lending developer, raised $50 million in funding led by Ribbit Capital.

Other participants in the fundraise included a16z crypto, Coinbase Ventures, Variant, Pantera, Brevan Howard, BlockTower, Kraken Ventures, Hack VC, IOSG, Rockaway, L1D, Semantic, Mirana, Cherry, Fenbushi, LeadBlock Bitpanda Ventures, Robot Ventures and others, according to a Morpho Labs release.

"When Morpho first launched 2 years ago, its primary product was Morpho Optimizer, an optimization layer on top of Aave and Compound that improved interest rates for users," wrote Morpho Co-Founder and CEO Paul Frambot in the release. "Since then, Morpho has evolved into independent financial infrastructure, inspired by the layered protocols of the early internet."

Pantera Capital led a prior …