What is Morpho? Morpho is a decentralized lending protocol on Ethereum and Base that offers higher yields than traditional lending pools through direct peer-to-peer matching. With Morpho Vaults you can earn passive yield without active management. Morpho Blue Morpho Blue is the core lending layer where users can borrow and lend directly with customizable parameters such as collateral ratio and liquidation thre...
What is Morpho?
Morpho is a decentralized lending protocol on Ethereum and Base that offers higher yields than traditional lending pools through direct peer-to-peer matching. With Morpho Vaults you can earn passive yield without active management.
Morpho Blue
Morpho Blue is the core lending layer where users can borrow and lend directly with customizable parameters such as collateral ratio and liquidation thresholds. This offers more flexibility than traditional pools, but it also means that a liquidation of your collateral can have tax consequences.
Morpho Vaults
Morpho Vaults are passive yield strategies that automatically allocate your deposits across different Morpho Blue markets. You receive vault shares that rise in value as yield accumulates.
Coinbase Partnership
Morpho works together with Coinbase on Base L2 to offer crypto-backed loans. You can borrow up to $1 million USDC against ETH or BTC as collateral, directly from the Coinbase app.
Tax treatment in Belgium
1. A vault deposit is not a taxable event
Depositing assets into a Morpho Vault is comparable to depositing money at a bank: no realization. You receive vault shares with a cost basis equal to your deposit.
2. Yield is taxable as movable income (roerende inkomsten)
The lending yields you earn through Morpho are treated as interest income. On withdrawal, the difference between the amount received and the original deposit is taxed at 30%.
3. MORPHO token rewards are taxable on claim
If you receive MORPHO tokens as an incentive or airdrop, the EUR value at the moment of claim is taxable income.
4. Borrowing is not taxable
Borrowing assets through Morpho does not create a taxable event. You receive a loan that you have to repay: this is not income.
What does Cryptotax support?
- Deposit/Withdraw events on Ethereum and Base
- Vault share minting tracking
- Automatic yield calculation
- EUR valuation on withdrawal
- MORPHO token reward tracking
This overview is informational. For personal tax planning, we recommend professional advice.
🔎 Ready to declare your crypto correctly?
Import your wallets and exchanges and instantly receive an overview of your gains, losses and taxable income in EUR.
Start for free
