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BTC Coinbase 通过 Morpho Midnight 推出固定利率比特币支持贷款
Coinbase 通过 Morpho Midnight 推出了固定利率的比特币支持贷款，允许用户在以比特币作为抵押品的同时借入 USDC。借款人可以在初始阶段锁定利率和还款日期，从而为债务义务提供更高的可预测性和灵活性。这一举措丰富了 Coinbase 现有的可变利率贷款产品（通过 Morpho Blue 处理），使用户能够在统一平台中选择稳定的借贷成本或波动的利率。
固定条款为借款人提供确定性
Coinbase 的固定利率贷款在用户开立头寸之前即明确了借贷成本和到期日。这一功能使客户能够更好地规划还款策略并管理利息支出。正如 Coinbase 所解释的那样：“通过比特币支持的固定利率贷款，客户可以在借款前锁定利率和还款日期。”
现有的可变利率贷款项目增长显著，未偿还余额超过 14 亿美元，抵押品价值约 30 亿美元。新的固定利率产品为那些希望持有比特币而不受利率波动影响、或不愿因流动性需求而被迫出售资产的用户提供了额外的金融工具。Coinbase 使用户在获取 USDC 贷款的同时保留比特币，满足了市场对多样化借贷结构日益增长的需求，并提高了市场透明度。
Morpho Midnight 的工作原理
Morpho launched the Midnight agreement on the Base Network in July, which aims to target the on-chain lending market by providing fixed interest rates and clear maturity dates. Borrowers can now choose loans that mature at the end of the current month or the end of the next month, with the last Friday of each month designated as the repayment deadline. If the borrower fails to make the payment on time, the lender has the right to recover the issued collateral.
Coinbase has not publicly disclosed the specific interest rates available through Morpho Midnight because these rates are determined by supply and demand relationships in the order book on the chain. Lenders and borrowers issue quotations and the agreement matches participants based on market conditions.
Broader trends and growing online credit markets
The launch of fixed-rate lending follows similar initiatives in the crypto industry, such as Circle's recent launch of bitcoin-backed USDC loans based on Morpho infrastructure. In addition, Hyperliquid also began offering BTC-backed stablecoin loans this month, attracting US$269 million in loans on its first day of service.
Coinbase is responsible for the customer service interface for these loans, Morpho operates the underlying loan agreements, and Base supports settlement. The development follows Coinbase's recent partnership with Stablecore, which will bring cryptocurrency custody, trading and payment infrastructure to community banks and credit unions.
Morpho 报告称，随着 Midnigh t的逐步推广，目前该协议拥有约 3000 万美元的存款，而 Morpho Blue 拥有 52 亿美元的未偿还贷款和 160 亿美元的总存款。该公司预计未来将有更多结构化信贷和代币化现实世界资产贷款的整合，但尚未提供公开的时间表。
随着链上信贷和迷因代币等领域活动的增加，及时的数据和市场监控对加密参与者变得愈发重要。在迷因代币市场中，一个网络趋势可能在几天内转化为数百万美元的收益。根据 Fomo App 分享的数据，“Niu Lai”的一笔交易尤为引人注目——该交易将初始的 99 美元投资转变为约 37 万美元。在这一市场中，追踪价格以及投资者的时机选择和代币选择至关重要。Fomo App 将代币发现与交易整合在单一平台上，提供社交动态、投资者排名和交易通知等功能。
