morpho is a relatively old project that I like, core highlights:

1. This round features one of the few DeFi protocols that can accommodate large capital and is innovative.

2. There is strong support from the base system.

3. The closed loop at the application layer is better than many old defi projects. It ranks just behind Aave in the defi protocol and has quickly surpassed the old defi. In addition to its customizable lending pools that make funds more flexible, the application layer for payments and payfi is well-developed. For instance, many payfi's underlying yields come from Morpho.

4. The principal matches directly with the borrower, reducing interest rate spread losses, which is a pain point for institutions and DeFi whales.
Over the course of a year, Morpho's TVL increased from 1.5b to the current 7.6b.
The profits for the last three quarters have remained above 20M.