Morpher Reflections and 2021 Roadmap

Author Image Denis Bykov

Denis Bykov

Morpher 2021 feature roadmap: defi swaps and stop loss & take profit.

As we get settled into 2021, it’s time to share a recap of recent changes and a forward-looking roadmap of all the great things to come. Last year was busy, but one to remember: from our launch to MPH tokens being listed to releasing a fiat on-ramp. We’re extremely proud of how well the Morpher protocol has performed and it continues to power the next generation of trading.

Morpher Protocol highlights so far:

  • 383,000 trades
  • 454 million MPH in trading volume
  • 25 million MPH moved via plasma bridge (deposits/withdrawals between chains)
  • 120,000 wallets connected

New: Account Tiers & Trading Without KYC

The Morpher app update deployed last week introduced account tiers from level 1 to 3. Our goal is to truly democratize trading and we know KYC can be a big barrier. To open up access even more, we created the tier system. Tier 1 lets anyone start trading with just an email and password. You still get the 100 MPH airdrop to invest without spending any money.

Then you can upgrade your account to Tier 2 with KYC verification. This lets you earn referral rewards, deposit via PayPal/card, and collect 10% MPH deposit bonuses. Credit card deposits are currently limited to $7,500 a year and $1,000 a day. Finally Tier 3 is for full access over your funds with withdrawals unlocked.

This makes inviting your friends a lot easier: they can try the app and trade without having to submit any documents. Only when your friend decides to upgrade do they need KYC, and that’s also when you get credited your well-deserved invite bonus.

High ETH Gas Fees

Ethereum is hitting all time high prices 🥳, but also all time high gas fees 🤮. The gas fees have skyrocketed dramatically over the last few days. We love Ethereum and it deserves to be very valuable, but the recent transaction fees make mainchain deposits/withdrawals untenable.

What does this mean for you? If you want to deposit MPH, it’s a lot cheaper to buy via card/Paypal in the app than via mainchain transaction. And for withdrawals, if you’re not moving a lot of money, it’s probably better to wait until gas prices ultimately go down again.

We are working on alternative withdrawal methods but this will take time. For a detailed breakdown on gas fees and how we’re fighting them check out this community post.

MPH Price, Supply & Exchange Listings

MPH tokens are trading at three times the price they were in November. Thank you for all the support, this is just the beginning of our journey. You can track MPH on CoinMarketCap and buy on Uniswap.

Some people were curious about token supply, great question. The current supply is just above 1.2 billion. Keep in mind that ~650 million tokens are still locked up (400+ million airdrop reserves, 100+ million in escrow, 100+ million in governance etc.). Read our article on token supply to learn more.

Now on to exchange listings, this has been asked a few times too. The honest answer is that it’s just not a priority for us right now. The project will succeed and take off from improvements, not from listings. Thinking that listings are the key to unlocking network value is backwards.

And a note on appraising token value. Take a look at the DeFi & stealth projects lower down in this post. We believe these projects will create immense value for the entire blockchain ecosystem, and some of that value might reflect back in MPH price. This is not investment advice or any sort of promise; I’m heavily biased, research MPH on your own.

What’s Coming Next

Limit Orders & Stop Loss / Take Profit

“I can´t sleep with 50K with 10X leverage and no stop loss, it’s just too stressful.” – Top Trader

Community vote on next Morpher feature

Ouch, while I’m mostly a long-term investor I feel your pain. Look we hear you, and SLTP is THE feature we’re adding next. It’s coming this quarter and I’d say sooner than later. Along with SLTP, limit orders will be available too. No more sleepless nights, set your price levels for entry/exit and let the profits roll in. We’ll also support time settings, so you can say when you want your trades to be valid or when any orders should be canceled (good from / good until).

More Crypto Markets

The 30 cryptocurrencies we support already are just not enough. More crypto markets are coming soon! The number of markets, and which markets we offer often comes down to data quality. We have to maintain a reliable, redundant, and resistant data feed. With recent progress in our proprietary data filtering we’re excited to bring you more of the markets you love.

Stock Charts with After Hours & Pre-Market

Part of the 24/7 trading promise is getting in any time of day into stocks. You may have noticed that stock spreads after hours are quite high, and that charts don’t show extended hour prices. We’re working to resolve both of these things and the answer is once again better data. We hope to bring you way better charts and spreads that reflect every tick a stock makes.

TradingView Charts

I hope the pro traders are excited for this one. TradingView has the best charting tools and we’re integrating them directly into Morpher. You’ll be able to load our market data in any timeframe, draw technical analyses, and load any of the 100+ indicators TradingView supports. Once you make a perfect chart setup you’ll be able to use it on any Morpher market.

🏦🦄 New DeFi Platform

A new app is coming, designed purely for crypto fans looking to invest using ERC20 tokens. This is for a different type of user, someone who has ETH and has experience with DeFi platforms.

Along with the decentralized trading platform there will be new plans for decentralized governance, staking MPH (yay yields), and a next generation decentralized oracle.

The Morpher DeFi platform comes with the features you love, but completely on mainchain. This enables some really cool things:

  • Directly invest in Polkadot $DOT, Cardano $ADA, or Tron $TRX using ERC20 tokens
  • Go short stocks, forex, and commodities (all our 600+ markets) using ERC20 tokens
  • Invest ETH in Tesla $TSLA with 10x leverage
  • Trade using any WalletConnect supported wallet (no signup required)
  • and more 😉

Excited?! Message me on Telegram to get involved: join the beta test, share your favorite DeFi communities, or let me know who you’re following in DeFi.

🥷 Stealth Projects

Crypto Wallet

Tired of login issues? Don’t want to lose everything when you forget your password or don’t backup? Our wallet is custodianless with trustless secret key recovery. You’ll be able to recover your funds without us knowing your password or secret keys. For transparency and security the wallet is open source just like our protocol.

Blockchain Oracle v2

Oracles are API endpoints that share online information (like market prices) with blockchains. We’ve been disappointed with most oracle solutions, and currently run our own implementation for the Morpher Protocol. The next step is an evolution: a decentralized price oracle with instantaneous market updates. Along with sub-second lag, pricing arbitrage will become a thing of the past.

That’s All for 2021?

What, this isn’t enough for you? Not for us either. You’ll probably see hundreds of new stocks & commodities added, trading competitions, a mobile app, leaderboard trader portfolios, and API trading.

💬 Learning From You

Thank you to everyone that’s been engaging in the community and completed our feedback surveys. Want to trade a market we don’t have yet, put in a market request. Don’t see the feature you want? Post a feature request and tell us what we’re missing. You can follow us on Twitter or Telegram for updates.