TVL stability (CoV over 90d)

Evidence summary #

TVL broadly on upward trajectory (Ethereum ~$1.5B to ~$3.3B over 90-day window). Notable ~9.6% TVL drop following KelpDAO exploit 2026-04-20 (broader DeFi event, not Morpho-specific). CoV not directly computed; yellow given the positive trend but market-wide 9.6% one-event drop.

Sources #

Methodology #

Compute the coefficient of variation (σ/μ) of daily TVL over the trailing 90 days as a proxy for operational stability.

See the full factor methodology and distribution across all protocols →