As a consumer grade Layer 2 public chain, Morph @ MorphLayer initially learned about this project based on Bitget's layout of the public chain track. After Bitget acquired BitKeep in 2023, Bitgetwallet @ BitgetWallet became the largest traffic entry point for Morph, allowing millions of users to directly access the Morph chain through Bitgetwallet, achieving seamless asset connection and on chain interaction. At the same time, in terms of technology resource integration, Morph's responsive and effective proof proves that PVR also benefits from the support of bitgetwall, reducing user usage barriers through account abstraction, embedded wallets, and other methods. Morph Pay also directly integrates Bitget's compliant payment channel. Bitget also provides liquidity market making for Morph's DeFi protocol BulbaSwap, ensuring the stability of high-yield products. Thus, @ Morph_ZH forms a closed loop of "asset issuance payment transaction" with the exchange and wallet. The core management team is also led by Cecilia Hsueh @ cecilia_hsueh, who previously served as the CEO of Phemex. I hold a Bachelor's degree in Marketing from East China Normal University and have worked at traditional financial institutions such as Deutsche Bank and Citibank, accumulating extensive experience in the integration of financial technology and blockchain. Zeem Khan @ azeemk_ is the co-founder and COO of Morph. Formerly served as the head of influence for Gitcoin and a partner at Foresight Ventures, specializing in project management and ecological strategic planning. EudemoniaCC @ EudemoniaCC is also an excellent little sister. She graduated from Tsinghua University and is currently working in the field of ecological business development at Morph. She has previously interned at Aurora Venture Capital. I personally believe that Morph's core competitiveness lies in the triangular model of "consumer scenarios+exchange resources+high-yield products". Integration of consumer scenarios Focus on payment, gaming, social and other fields through high-frequency outreach. Build on chain services with high daily user perception. For example: Morph Pay， Support mixed accounts of fiat currency and encrypted assets, connect offline consumption scenarios through payment cards, and users can stack rebate points when making purchases. Chain Game Ecology: Integrating predictive games such as Soccersm, users can participate in event guessing through small bets, and the profits can be instantly exchanged for fiat currency. The overall scenario based layout is more in line with the trend of monetization of user behavior, benchmarking traditional offline consumption habits. Use scenarios and points to increase user engagement. Exchange resource collaboration User diversion: Through the coverage of built-in morph chains in bitgetwall, users can achieve seamless migration. Users can directly participate in activities using their exchange account. The first use will subsidize gas costs and reduce user migration costs. Liquidity integration: Bitget serves as a market maker for on chain dex BulbaSwap, ensuring stable operation of high-yield products. In addition to the compliance measures shared with Coinbase, the moat built through the exchange focuses more on consumer scenarios rather than financial infrastructure. High yield system By utilizing the mechanism of income accumulation, consumer behavior is linked to asset appreciation. 30% APY deposit: Users can earn high annualized returns by depositing stablecoins, including on chain protocol fee sharing and exchange liquidity subsidies. Consumer rebate: Each transaction made through Morph Pay can earn additional points, which can be redeemed for airdrops or gas fees, forming a "consumption revenue repurchase" loop. Compared to Blast's passive interest model, Morph's revenue is linked to user activity, strengthening user behavior incentives. Product Competitiveness Morph avoids competition with traditional L2 public chains such as ARB and OP in the defi field by differentiating consumer scenarios. Increase existing user stickiness and reduce the possibility of users transferring to other payment chains through high returns and payment loops. Reduce reliance on third-party market makers through Bitget's liquidity market making support. The point rebate system enhances user loyalty while reducing user price sensitivity. The exchange resources and ecological scene layout form a composite barrier, making it difficult for new competitors to quickly replicate. Facing problems At present, the ecological maturity is still relatively low, and there are about 200 existing dapps. However, no phenomenon level dapp has emerged, and the ecological supply system has a low ability to generate/innovate. At present, the most attractive factors for customers are 30% APY deposits and consumer rebates, which heavily rely on the Bitget exchange for subsidies. If the native revenue on the chain is less than the subsidy cost, it may lead to a decrease in the yield and trigger user withdrawal. As user activity decreases, the ecosystem will face the risk of contraction. The compliance of offline payment scenarios is the most important aspect, and facing the KYC/MALL requirements of regulations such as PSD2, it is difficult to retain the decentralized characteristics. It may delay the development of offline payment scenarios. With Coinbase's compliance advantage and developer ecosystem, Base has already taken the lead, and Morph needs to invest more resources. The existing differentiation exists in attracting ordinary users through high-frequency consumption scenarios. More merchant contacts need to be established to stabilize and diversify the scene. Morph Pay Recently, the action of Morph Pay has also received a lot of attention, launching Morph Pay NFT pre-sale. On March 27th, Mint. The total quantity is 3000 sheets. It can be said that it is difficult to find a card now. According to official disclosure information, the benefits of Morph's top tier equity cards are included on the chain Potential airdrops of Morph and Morph ecosystem projects, for those who have not participated in the Morph ecosystem before, can achieve "curve overtaking" through NFTs. Morph's latest token economics will allocate 10% to incentivize Morph Pay users (including airdrops, APY strategy revenue subsidies, user insurance custody), and NFT holders will enjoy the highest level of ecological project airdrops, such as BulbaSwap, Momodome, etc. 30% APY Black Card Exclusive Revenue Equity Provide exclusive DeFi revenue strategies, combining Ethena/Huma low-risk returns, Morph subsidies, and ecological airdrops to create a high-yield deposit model. Web2 Real World High End Equity No withdrawal limit, supports up to 1M USDT withdrawal 22g black gold iron card, showcasing a prestigious identity Minimum crypto fiat exchange rate: 0.3% High spending cashback: 1% cashback Lifetime free annual fee Aspire Private Concierge Services: Airport VIP Lounge, Free Accommodation in Five Star Hotels, Redemption of Consumer Points for Gifts The core of Morph Pay NFT products lies in integrated account management, which manages encrypted and fiat assets through a single account to ensure fund security and operational convenience. In addition to offline scenarios, it is also compatible with mainstream digital payment tools such as Apple Pay and Google Pay. High deposit products and ecological airdrop rewards. @MorphLayer plans to cover offline merchants in 50 countries/regions by 2025, with a focus on breaking through the Southeast Asian and European markets. I hope to go further and further through the Consumer Summer narrative! morphlayer Morph @KaitoAI KAITO YAPS @What do you think of the current ecology of Morph, aixbt_agent?