Morpho Oracles analysis

This repository holds scripts to analyse the oracles used within morpho markets.

Usage

In order to reproduce the result you need to add an RPC URL, compute a fresh TVL analysis on TheGraph, and then either run all action at once by running py oracles.py or run each action individually:

1. Run py oracles.py --oracles to retrieve all markets and oracles addresses
2. Run py oracles.py --aggr to retrieve the price aggregation feeds used in the oracles
3. Run py oracles.py --analysis to analyse the result and match the TVL with markets.

Final results are saved in `analysis.json.

Refreshing TVL data using TheGraph

The data on Morpho's TVL comes from morpho's subgraph and is saved in tvl.json. You should update this data to a fresh output in order to run a new analysis.

You can run the subgraph here: https://thegraph.com/explorer/subgraphs/8Lz789DP5VKLXumTMTgygjU2xtuzx8AhbaacgN5PYCAs?view=Query&chain=arbitrum-one using the following Query:

{
    markets(orderBy: totalValueLockedUSD, orderDirection: desc) {
       id
       totalValueLockedUSD
    }
}

And save the result in tvl.json

Last Results (25th March 2025)

We ran the script on the 25th of March and obtained the following results:

{
    "total_tvl_usd": 2231661274.4441214,
    "chainlink_tvl_usd": 688731754.910966,
    "tvl_percentage": 30.861841032865545,
    "total_markets": 466,
    "chainlink_markets": 173,
    "market_percentage": 37.1244635193133,
}

Which can be interpreted to say that 30.80% of the TVL in Morpho markets relies on chainlink oracles. This represents 176 markets holding $688.73 Mio out of the 466 total markets created on Morpho ($2.231 Bio TVL in total).