Aave Surpasses Morpho in Capturing Protocol Fees

Aave's native token AAVE has taken the lead in capturing fees from its protocol, leaving Morpho's MORPHO token far behind. According to data from September 29th, Aave kept $5.07 million of $36.97 million in fees, while Morpho collected nothing from $19.51 million in fees.

This comes as a surprise given the market's expectations, with Morpho's price surging by 126% this year to reach $2.47 on September 29th. In contrast, Aave's token rose only 13% to $165.22 over the same period.

Aave's protocol earns fees through its lending markets, and a share of those fees is allocated to the AAVE token. The DAO, or Decentralized Autonomous Organization, uses this funding to execute governance decisions and maintain the ecosystem.