Jupiter Lend vs Morpho: Solana or multichain lending
Jupiter Lend is a non-custodial money market on Solana, with about $1.09B in total value locked in October 2026. Morpho is a non-custodial lending network across Ethereum, Base, and other EVM chains, with $11.0B in total value locked at the same time.
Chain access marks the primary distinction between the two protocols. Built exclusively for Solana, Jupiter Lend offers automated earning vaults alongside collateralized borrowing and Jupiter Mobile integration. Morpho supplies isolated markets, curated ERC-4626 vaults, flash loans, and fixed-rate loans via Morpho Midnight. While Jupiter Lend relies on variable rates, Morpho provides both variable and fixed terms. Morpho vaults cap performance fees at 50% and annual management fees at 5%; Jupiter Lend instead emphasizes automated liquidity management.
Quick verdict
The deciding difference is market design and chain access. Jupiter Lend concentrates liquidity on Solana and uses a pooled model with automated vaults and variable borrowing rates. Morpho distributes lending across EVM chains via isolated pairs, where every collateral and borrow asset has individual risk parameters. That separation prevents cross-market contagion, though vault depositors absorb discretionary curator allocation risk. Borrowers on Morpho can lock in fixed-rate, fixed-term debt through Midnight, whereas Jupiter Lend focuses on automated leverage loops and native mobile wallet execution.
Choose Jupiter Lend if the assets are on Solana, non-custodial wallet access without KYC is required, and automated earning vaults or mobile position management matter. Its 2025 and 2026 security reviews include OtterSec, Offside Labs, Mixbytes, Certora, and Code4rena. Borrowers accept variable rates and liquidation risk when collateral values fall.
Choose Morpho if deployments require Ethereum, Base, or other EVM environments, or if isolated risk models and flash loans are priorities. Morpho vaults cap performance fees at 50% and annual management fees at 5%, while its core contracts feature formal verification and more than 30 independent audits. An April 2025 frontend bundler update caused an approval bug that exposed user funds.
| Feature | ||
|---|---|---|
| Ratings | ||
| Our score | 4.0/5 | 4.5/5 |
| User rating | No reviews yet | No reviews yet |
| Security & track record | 4.5 | 4.5 |
| Rates | 4.0 | 4.5 |
| Market depth | 3.5 | 5.0 |
| Ease of use | 4.5 | 4.0 |
| Decentralization | 3.5 | 4.5 |
| Specs | ||
| KYC required | No | No |
| Lending model | Pooled | Isolated markets |
| Chains | Solana | Ethereum, Base, Hyperliquid, Other |
| Main collateral assets | Not disclosed | cbBTC, USDC, ETH, PAXG |
| Flash loans | Not disclosed | Yes |
| Permissionless markets | Not disclosed | Yes |
| Audited | Yes | Yes |
| Bug bounty | Not disclosed | Yes |
| Governance token | JUP | MORPHO |
| Isolated markets | Not disclosed | Yes |
| Own stablecoin | Not disclosed | No |
| Rates | Variable | Variable and fixed |
| Company | ||
| Founded | 2025 | 2021 |
| Headquarters | — | France |
| Investors | Not disclosed | Paradigm, Ribbit Capital, a16z crypto, Hack VC +4 |
| Strengths and weaknesses | ||
| Pros |
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| Cons |
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| Best for | Solana DeFi yield depositors, Traders borrowing against crypto collateral, Mobile users seeking onchain lending | DeFi lenders seeking risk-isolated markets, Borrowers requiring fixed-rate crypto terms, Passive yield depositors using curated vaults |
Highlighted cells show the stronger value in each row. Data comes from each provider's site and public sources; check details before you sign up.
FAQ
Are Jupiter Lend and Morpho non-custodial?
Yes, both are non-custodial protocols that let users interact through crypto wallets and smart contracts. Jupiter Lend operates on Solana, while Morpho supports Ethereum, Base, and other EVM chains.
Which chains do Jupiter Lend and Morpho support?
Jupiter Lend supports Solana only, while Morpho supports Ethereum, Base, and a broad set of other EVM networks. Morpho's listed networks include Arbitrum, Polygon, Hyperliquid L1, Monad, and OP Mainnet.
Does Morpho offer fixed-rate borrowing while Jupiter Lend does not?
Yes, Morpho Midnight provides intent-based fixed-rate and fixed-term loans, while Jupiter Lend's lending and borrowing rates are variable. Jupiter Lend instead offers automated leverage loops for selected collateral assets such as sUSDai.
How do Morpho vault fees compare with Jupiter Lend?
Morpho vault performance fees are capped at 50%, and annual management fees are capped at 5%. Jupiter Lend emphasizes automated liquidity management.
Which protocol has the larger lending market?
Morpho has the larger stated market, with $11.0B in total value locked in October 2026 compared with about $1.09B for Jupiter Lend. Jupiter Lend's liquidity is concentrated on Solana, while Morpho spans multiple supported chains.