In the fiercely competitive DeFi lending market, Morpho's differentiated positioning is intriguing. Instead of directly competing with Aave and Compound, they choose to become a "protocol on top of protocols." The brilliance of this positioning lies in avoiding liquidity wars while leveraging the liquidity depth of existing protocols. Just as DEX aggregators revolutionized the trading market, Morpho is becoming a smart intermediary layer in the lending market. From a competitive perspective, this "enhancement rather than replacement" strategy creates a win-win situation. Aave and Compound continue to maintain their liquidity pools, while Morpho creates additional value for the entire ecosystem by optimizing capital efficiency. This collaborative mindset is particularly valuable in the zero-sum world of cryptocurrency. @MorphoLabs #Morpho $MORPHO