Morpho

Technical Details:

1. Develop and deploy a new token contract on mainnet with the features described below:
   1. Total supply of 1B, which will ensure all current MORPHO tokens can be wrapped for any holders who choose to enable the wrapper contract
   2. Upgradeable proxy implementation, which would allow the DAO to make upgrades without the need for deploying new wrapper contracts in the future
   3. Data structures to track an address’s chosen delegate, if any, and the voting power of each address including delegations so that users can participate in onchain voting in the future once the DAO selects a governance implementation. For reference, see the standard open source implementation from OpenZeppelin, ERC20Votes
2. Deploy contract instance compliant to the bridged token interface for all tokens that will be made claimable on Base, or that users choose to bridge in the future. The Base contract will have the same voting and upgradeability features, while wrap/unwrap will be supported only on mainnet, since the original MORPHO token will not be deployed on Base
3. Deploy a wrapper contract to enable users to wrap to the new token contract, with the initial supply of 1B tokens minted to the wrapper.
4. Add support for using the wrapper contract to the UI, including:
   • ability for holders of the existing MORPHO token to wrap it and participate in governance
   • bundling of claim and wrap flows so that future token claimers can receive the wrapped version without the friction and cost of a separate wrapping step
   • token delegation interface
5. Use the wrapped MORPHO token for future onchain incentives. Existing Merkl claims and vesting contracts will be unaffected.