{"schema_version":2,"updated":"2026-10-24T07:57:30.309Z","license":"https://creativecommons.org/licenses/by/4.0/","cite_as":"Own Your Mind, \"Decentralised AI Freedom and Returns score dataset\", https://ownyourmind.ai/integrity/","attribution":"Own Your Mind (ownyourmind.ai). Link the specific project review when citing a single project.","integrity_notice":{"summary":"Each integrity record carries its own record_type, verdict and assessment_level. A 'claim' record quotes the project's own published statement; a 'reported' value is that claim, not a verified fact, unless verdict is 'match'. A 'finding' record is our own measurement and grades no one's claim. assessment_level 'not-assessed' means unchecked, never clean. Findings are dated snapshots, not a live feed.","verdicts":{"match":"verified against independent data","inflated":"reported higher than independent data shows","understated":"reported lower than independent data shows","outdated":"was accurate when reported; on-chain reality has since moved","established":"our own independent measurement; there is no project claim to grade","unverified":"independently checkable, not yet checked","unverifiable":"checked, could not independently confirm"},"record_types":{"claim":"the project's own published statement, quoted verbatim, graded against independent data","finding":"our own measurement for a score dimension; no claimant and never a verdict on a claim"},"methodology":"https://ownyourmind.ai/resources/integrity-checks/"},"slug":"morpheus","markdown":"https://ownyourmind.ai/projects/morpheus.md","title":"Morpheus","token":"MOR","category":"platform","freedomScore":7.6,"returnsScore":5.8,"freedomGrade":"B","returnsGrade":"C","url":"https://ownyourmind.ai/projects/morpheus/","integrity":{"assessment_level":"onchain-reconciled","last_assessed":"2026-09-24","emission_honesty":{"classification":"not-assessed","reason":"Deferred, not asserted. The demand reconciliation found the user-paid versus emissions-subsidised split is unmeasurable on-chain: demand is intermediated almost entirely through the API Gateway, which masks end-user identity. The lifetime estTokens estimate is contaminated by free open-beta traffic (Dec 2025 to 2 March 2026, near-zero pricePerSecond), and per-token economics are thin (roughly USD 1 to 2.5 per million tokens), but the work explicitly did not quantify a paid share and corrected the earlier 'tiny demand' framing to 'real and growing'. A classification would overstate what the on-chain work concluded."},"reconciliations":[{"metric":"multi_chain_deployment","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"match","claim_holds_up":true,"claim":{"quote":"MOR is multichain and deployed on Ethereum, Arbitrum and Base","source_url":"https://mor.org/mor-token","archive_url":null,"date":null},"reported":{"value":"MOR deployed on Ethereum, Arbitrum and Base","source":"Morpheus, MOR token page (mor.org/mor-token)","self_reported":null},"independent":{"value":"Re-verified 2026-09-18 by calling symbol() on each leg: MOR answers on Ethereum (0xcBB8f1BDA10b9696c57E13BC128Fe674769DCEc0), Base (0x7431aDa8a591C955a994a21710752EF9b882b8e3) and Arbitrum (0x092bAaDB7DEf4C3981454dD9c0A0D7FF07bCFc86), all three returning MOR with live code. The first pass of this check read the Arbitrum address against Ethereum and found no code, which is the reason the addresses are written out here rather than left to a reader to assume.","source":"eth_call symbol() on all three legs, 2026-09-18"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"permissionless_provider","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"match","claim_holds_up":true,"claim":{"quote":"Once seeded, the whitelist will be removed, and the MOR stake mechanism will take over to ensure economic alignment.","source_url":"https://gitbook.mor.org/faqs/compute-providers","archive_url":null,"date":null},"reported":{"value":"Mainnet provider whitelist to be removed, with MOR stake gating entry instead","source":"Morpheus docs, Compute Providers FAQ","self_reported":null},"independent":{"value":"The registration path carries no allowlist and no KYC gate. ProviderRegistry.providerRegister on facet 0xE30279b79392AEfF7fDf1883C23d52eBA9D88A75 (source-verified on BaseScan) has no onlyOwner modifier and consults no registry of approved addresses: it requires only that the caller is the provider itself (or an address that provider delegated to) and that total stake clears providerMinimumStake, read live at 0.2 MOR on Base. Confirmed end to end by registering our own node from a fresh address with no approval step (tx 0x1b8795ee52fd1fc6646edd58dc98c76c182999b73a641b90772e38cfb6390f8b, 1 September 2026), which reads back active on the Diamond. Re-verified 2026-09-18 from the deployed LumerinDiamond (0x6aBE1d28, Base): the full 73-selector facet map was enumerated through the diamond loupe and providerRegister 0x365700cb is present in it, which is the same read that served as the positive control for the content-policy check. Registration remains permissionless: no owner modifier and no allowlist gate the selector, and we registered our own provider from a fresh address with no approval step.","source":"Verified ProviderRegistry facet source on BaseScan + live reads of getProviderMinimumStake / getIsProviderActive on the Lumerin Diamond (Alchemy Base)"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"provider_diversity","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"unverified","claim_holds_up":false,"finding":"Provider hardware and client diversity has not been characterised yet; the registry count is known, the mix behind it is not.","independent":{"value":null,"source":"Provider set is indexed by count; hardware/client diversity not characterised."},"assessed_date":"2026-09-24","severity":"low"},{"metric":"no_central_control","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"One 5-of-9 Gnosis Safe holds owner and upgrade authority over the core deposit, staking and inference contracts, with no timelock.","independent":{"value":"One 5-of-9 Gnosis Safe (0x1FE04BC1...) holds owner/upgrade authority across the core contracts on both chains: Base Builders staking (0x42BB446e, UUPS, no timelock), Base LumerinDiamond inference, and the Ethereum-L1 Distribution contract where capital deposits sit (0x47176B2A..., upgradeable proxy, no timelock). The MOR OFT token is on a separate Safe (0xf3ef0016...).","source":"BaseScan + Etherscan (Safe ownership + EIP-1967 impl slots) across Base + Ethereum L1, verified this session"},"assessed_date":"2026-09-24","severity":"medium"},{"metric":"mrc_snapshot_voting","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"The Morpheus AI Snapshot space (morpheusai.eth) no longer exists, so there is no Snapshot voting venue to observe.","independent":{"value":"The Snapshot space this row confirmed no longer exists. Checked four ways on 2026-09-18, each with a positive control in the same request or the same UI so an absence cannot be an artefact of a changed API: the Hub's space(id:\"morpheusai.eth\") returns null, spaces(where:{id_in:...}) omits it while returning morpheusswap.eth from the same call, name searches for \"morpheus ai\", \"MOR\" and \"mrc\" surface no Morpheus AI space, and snapshot.box renders \"Failed to load space\" for it while rendering MorpheusSwap's 46 proposals normally. The MRC process and its public repository are a separate matter and are not claimed here; what is no longer verifiable is the Snapshot voting venue, which is the half of the claim this row was built on.","source":"Snapshot Hub GraphQL + snapshot.box render, both with positive controls, 2026-09-18"},"assessed_date":"2026-09-24","severity":"medium"},{"metric":"atomic_governance","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"unverified","claim_holds_up":false,"claim":{"quote":"Decisions are based on expert consensus, with the final judgment made by the repository owner.","source_url":"https://gitbook.mor.org/meet-morpheus/atomic-governance","archive_url":null,"date":null},"reported":{"value":"Atomic Governance: expert consensus, final judgement by the repository owner","source":"Morpheus docs, Atomic Governance","self_reported":null},"independent":{"value":null,"source":"Described in docs; not independently stress-tested."},"assessed_date":"2026-09-24","severity":"low"},{"metric":"fair_launch","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"match","claim_holds_up":true,"claim":{"quote":"No token sale, no pre-mine, no VC allocations – MOR was not issued through private deals or insider advantages.","source_url":"https://gitbook.mor.org/meet-morpheus/what-is-morpheus","archive_url":null,"date":null},"reported":{"value":"No token sale, no pre-mine, no VC allocation","source":"Morpheus docs, What is Morpheus?","self_reported":null},"independent":{"value":"Emissions-only issuance, no team/VC allocation, verifiable on the emission contract.","source":"On-chain emission contract"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"contributor_split","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"unverified","claim_holds_up":false,"claim":{"quote":"3,456 MOR (24%) tokens for Compute Providers; 3,456 MOR (24%) tokens for Code Contributors; 3,456 MOR (24%) tokens for Capital Providers; 3,456 MOR (24%) tokens for Application Builders.","source_url":"https://gitbook.mor.org/tokenomics/mor-emissions","archive_url":null,"date":null},"reported":{"value":"24% each to compute, code, capital and builders, 4% to the Protection Fund","source":"Morpheus docs, MOR Emissions","self_reported":null},"independent":{"value":null,"source":"A design parameter; on-chain contributor-type attribution is only partial."},"assessed_date":"2026-09-24","severity":"low"},{"metric":"mor_holders_count","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"MOR has a broad holder base, counted directly from every MOR Transfer event on Base.","independent":{"value":"14,752 addresses hold MOR (balance above zero), from our own Alchemy enumeration of every MOR Transfer log since deploy, balances reconstructed locally.","source":"OYM on-chain holder index: scripts/count-mor-holders.ts via Alchemy Base, src/data/mor-holders.json"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"permissionless_registration","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"Provider registration has no allowlist, blocklist or approval step; the only owner lever on the registry facet sets the minimum stake for everyone at once.","independent":{"value":"Nothing in the registration path can reject a specific address. ProviderRegistry.providerRegister on facet 0xE30279b79392AEfF7fDf1883C23d52eBA9D88A75 (source-verified on BaseScan) is unmodified by onlyOwner and reads no allowlist, blocklist or attestation; the only owner function on that facet is providerSetMinStake, which moves the capital floor for everyone at once. We registered our own node from a fresh address with no approval step (tx 0x1b8795ee52fd1fc6646edd58dc98c76c182999b73a641b90772e38cfb6390f8b, 1 September 2026) and it reads back active. Re-verified 2026-09-18 from the deployed LumerinDiamond (0x6aBE1d28, Base): the full 73-selector facet map was enumerated through the diamond loupe and providerRegister 0x365700cb is present in it, which is the same read that served as the positive control for the content-policy check. Registration remains permissionless: no owner modifier and no allowlist gate the selector, and we registered our own provider from a fresh address with no approval step.","source":"Verified ProviderRegistry facet source on BaseScan + live reads of getProviderMinimumStake / getIsProviderActive on the Lumerin Diamond (Alchemy Base)"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"no_protocol_content_policy","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"The deployed inference contract has no pause, blacklist or content-policy function among its 73 selectors.","independent":{"value":"Supported at the contract layer. The deployed LumerinDiamond on Base (0x6aBE1d28) exposes 73 function selectors across five facets, read from its own loupe on 2026-09-17. None of them is pause(), unpause(), paused(), setPaused(bool), a blacklist or ban setter or getter, or a content-policy setter. The two removal functions that do exist are marketplace hygiene rather than moderation: providerDeregister(address) reverts ProviderNotFound() for a caller unrelated to the provider, so it is a self-service exit and not an admin lever, and modelDeregister(bytes32) reverts a custom error naming the caller. There is no function through which the protocol could filter inference by content.","source":"LumerinDiamond 0x6aBE1d282f72B474E54527D93b979A4f64d3030a on Base, diamond loupe facets(), read 2026-09-17"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"tee_attestation","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"match","claim_holds_up":true,"claim":{"quote":"OpenAI-compatible AI with Phase 1 TEE-backed providers.","source_url":"https://mor.org/","archive_url":null,"date":null},"reported":{"value":"Phase 1 TEE-backed providers","source":"Morpheus homepage (mor.org)","self_reported":null},"independent":{"value":"Re-verified on 2026-10-20 after the provider moved host. Provider 0xc3cb223c… re-registered its endpoint on the Base Diamond as crimson-bonobo.vm.scrtlabs.com on 14 October 2026 (proxy-router v7.15.0) and now bids on two new TEE models, qwen3-vl:30b:tee and qwen3-coder:30b:tee; qwen3.6-27b:tee, the model checked in September, is deleted on chain. The new host's attestation port returned a 5,006-byte Intel TDX v4 quote (MRTD ba87a34745446668…, unchanged; RTMR3 789614b753cf9c34…). Its report_data equals the SHA-256 of the SubjectPublicKeyInfo of the TLS certificate the same host presents (4a7c635ff68807a8…, computed by us), which binds the measurement to the key a consumer actually talks to. The SecretAI portal validates the Intel signature chain: quote_verified true, debug_disabled true, TCB UpToDate, and its parse matches ours. First verified 2026-09-19 on silver-wren.vm.scrtlabs.com, where report_data bound to the whole-certificate hash 840d6987b8bbaf61….","source":"Provider attestation port + live TLS + SecretAI portal, 2026-10-20 (endpoint read from getProvider on the Base Diamond)"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"p2p_encryption","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"unverified","claim_holds_up":false,"claim":{"quote":"Secure connections through encryption and verifiable on-chain logic","source_url":"https://gitbook.mor.org/morpheus-inference-marketplace","archive_url":null,"date":null},"reported":{"value":"Encrypted connections between consumer and provider","source":"Morpheus docs, Morpheus Inference Marketplace","self_reported":null},"independent":{"value":null,"source":"Architecture described; not independently confirmed."},"assessed_date":"2026-09-24","severity":"low"},{"metric":"self_custodial_wallets","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"Users and providers act from keys they hold; no custody contract sits between a user and their MOR, and session collateral is escrowed and returned at close.","independent":{"value":"Supported, from our own operation of the protocol rather than from its documentation. We registered a provider on the deployed LumerinDiamond from a fresh address whose key we hold, with no approval step and no account creation, and we run sessions from it: the finding recorded in the permissionless_provider row on 2026-09-07. No custody contract sits between a user and their keys. The one thing the protocol does hold is session collateral, which the contract escrows for the life of a session and returns at close, and that is collateral rather than custody.","source":"Our own provider node registered on LumerinDiamond 0x6aBE1d28 (Base), operated from a self-held key"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"mit_repos","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"Morpheus's core code is public on GitHub, but a large share of its repositories carry no licence file.","independent":{"value":"Re-read 2026-09-18 through the GitHub API: 50 non-fork public repositories in github.com/MorpheusAIs (63 public in total, 13 of them forks), 21 carrying no licence file and 34 not pushed in 180 days, newest push dashboard-v2 on 2026-09-15. The count is stated on a non-fork basis, which is lower than the public total this row quoted before: counting forks credits a project for code it did not write. GitHub API confirms the public repo set and MIT licensing.","source":"GitHub REST API (orgs/MorpheusAIs/repos), re-read 2026-09-18"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"contracts_source_verified","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"The Builders proxy on Base points at a BuildersV4 implementation that is source-verified on BaseScan.","independent":{"value":"The Builders proxy (UUPS, Base 0x42BB446e) implementation slot reads 0x18faef315b40a6d9cf49628f1133b1aa507513b0, source-verified on BaseScan as BuildersV4 (Solidity 0.8.20, exact match). The LlamaAI verification gap is resolved.","source":"EIP-1967 implementation-slot read via eth_getStorageAt on Base; BaseScan #code for 0x18faef..."},"assessed_date":"2026-09-24","severity":"info"},{"metric":"audits","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"match","claim_holds_up":true,"claim":{"quote":"The MOR Token smart contracts have been audited by OpenZeppelin & Renascence, with an additional public bug bounty contest executed by Cyfrin via Codehawks.","source_url":"https://mor.org/mor-token","archive_url":null,"date":null},"reported":{"value":"Audited by OpenZeppelin and Renascence, plus a Cyfrin/CodeHawks contest","source":"Morpheus, MOR token page (mor.org/mor-token)","self_reported":null},"independent":{"value":"Both named auditors publish their Morpheus work in their own channels: OpenZeppelin carries its Morpheus MOR OFT Token Audit on openzeppelin.com, and Renascence Labs lists four Morpheus reports (Morpheus, MOR20, Dynamic Minter, L2TokenReceiverV2) in its public portfolio repository.","source":"OpenZeppelin (openzeppelin.com/news/morpheus-mor-oft-token-audit); Renascence Labs portfolio (github.com/Renascence-Labs/portfolio/reports)"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"bug_bounty","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"unverified","claim_holds_up":false,"claim":{"quote":"Up to $100,000 from the Protection Fund, capped at 10% of demonstrated funds at risk and subject to available Fund liquidity","source_url":"https://mor.org/bug-bounty","archive_url":null,"date":"2026-08-07"},"reported":{"value":"Up to $100,000, capped at 10% of demonstrated funds at risk","source":"Morpheus bug bounty programme, version 2 (mor.org/bug-bounty)","self_reported":null},"independent":{"value":"The programme is public, dated and specific, and it is stricter than the one we previously recorded. Version 2 (7 Aug 2026) replaced the old range with a $100,000 ceiling capped at 10% of demonstrated funds at risk, requires a passing Foundry proof of concept against a pinned mainnet fork, and lists 20 in-scope addresses in an appendix. Payouts are discretionary and drawn from the Protection Fund, so the ceiling is a cap rather than a reserve; we have not verified any payout.","source":"Public bug-bounty programme page"},"assessed_date":"2026-09-24","severity":"low"},{"metric":"work_token","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"match","claim_holds_up":true,"claim":{"quote":"At the core of the Morpheus token economy is MOR, a fair-launched utility token that powers the network","source_url":"https://gitbook.mor.org/tokenomics/mor-utility","archive_url":null,"date":null},"reported":{"value":"MOR is a fair-launched utility token","source":"Morpheus docs, MOR Utility","self_reported":null},"independent":{"value":"Emission mechanism on-chain (contribution-based issuance).","source":"On-chain emission contract"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"mor_builder_total_staked","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"Builder staking is live and carries material deposits on Base and Arbitrum.","independent":{"value":"2,669,995 MOR deposited across builder subnets ON BASE, read from totalDeposited on the 0x42BB Builders contract in our own harvest, re-read 2026-09-18. The scope matters and had not been stated: this is the Base leg only, and the Arbitrum Builders contract holds a further 397,598 MOR as of 2026-09-10, so the network total is nearer 3,067,593. Base deposits jumped about 34% in the twelve days to 2026-09-18, from 1,996,002 on 6 September, which is real growth rather than a re-basing: the series carries every intermediate reading.","source":"OYM subnet-staking harvest (src/data/mor-subnet-staking.json), Builders contract 0x42BB446e on Base"},"assessed_date":"2026-09-24","severity":"low"},{"metric":"real_usage","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"Inference usage is attested on-chain: every closed session writes a token receipt to the inference contract, and our own index sums them.","independent":{"value":"37.1B attested input+output from our own index of the LumerinDiamond SessionClosed receipts on Base, the same contract Morpheus indexes. The anchor read 10.6B when this verdict was first authored in June 2026 and has climbed every month since.","source":"Our on-chain index of LumerinDiamond SessionClosed 7-field receipts (Base) - the same contract Morpheus indexes"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"staked_access_accrual","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"match","claim_holds_up":true,"claim":{"quote":"allowing MOR holders to stake tokens for a free daily compute quota, accessing the network’s entire compute capacity","source_url":"https://gitbook.mor.org/tokenomics/mor-utility","archive_url":null,"date":null},"reported":{"value":"Stake MOR for a free daily compute quota","source":"Morpheus docs, MOR Utility","self_reported":null},"independent":{"value":"Staked-access mechanism is on-chain (staking + session-access contracts).","source":"On-chain staking + session-access contracts"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"protocol_yield_revenue","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"Value accrues through yield on capital deposits routed to the protocol; there is no fee burn.","independent":{"value":"DeFiLlama summary/fees/morpheus-ai (dailyFees), re-read 2026-09-19: $557,653 trailing-year and $9,910,716 all-time. The trailing year has fallen every reading: $980K when the claim was written, $737,188 in August, $620,726 on 18 September, $557,653 a day later as another high-revenue day aged out of the window. The 30-day figure is $43,819, annualising to about $533,131.","source":"DeFiLlama morpheus-ai adapter"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"supply_cap","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"match","claim_holds_up":true,"claim":{"quote":"The MOR supply is limited to a maximum of 42,000,000 tokens that will ever exist.","source_url":"https://mor.org/mor-token","archive_url":null,"date":null},"reported":{"value":"42,000,000 MOR maximum supply","source":"Morpheus, MOR token page (mor.org/mor-token)","self_reported":null},"independent":{"value":"Cap enforced on the contract, and measured against it: 9,632,070 MOR in existence across the three chains as at 2026-09-18, 22.9% of the 42,000,000 terminal cap. Summing the three legs is the only honest total, since CoinGecko nets the burn twice.","source":"On-chain token contract cap"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"fair_launch_issuance","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"match","claim_holds_up":true,"claim":{"quote":"Morpheus rewards have started at 14,400 MOR per day on February 8th 2024 and decline by 2.468994701 MOR each day until the reward reaches 0 on day 5,833 or January 28th, 2040.","source_url":"https://gitbook.mor.org/tokenomics/mor-emissions","archive_url":null,"date":null},"reported":{"value":"Emissions from 14,400 MOR a day, declining daily to zero on day 5,833","source":"Morpheus docs, MOR Emissions","self_reported":null},"independent":{"value":"Emissions-only issuance confirmed on-chain.","source":"On-chain emission contract"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"total_equals_circulating","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"No vesting, cliff or team-allocation contract holds MOR back, so total supply is circulating supply; burned MOR at the dead address is still counted in totalSupply.","independent":{"value":"Live totalSupply() summed across the three deployments on 2026-09-06: Ethereum 68,924.52 + Base 5,880,363.48 + Arbitrum 3,348,173.39 = 9,297,461.39 MOR. No vesting, cliff or team-allocation contract exists to hold a tranche back, which is what the claim is about. One qualification the claim does not make: 287,795.42 MOR sits at 0x...dEaD on Arbitrum and totalSupply() still counts it, so total equals circulating only if burned tokens count as circulating.","source":"eth_call totalSupply() on MOR at 0xcBB8...DCEc0 (Ethereum), 0x7431...b8e3 (Base) and 0x092b...Fc86 (Arbitrum), plus balanceOf(0x...dEaD) on Arbitrum, read 2026-09-06 on public nodes"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"protocol_revenue_figure","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"Protocol revenue from capital-deposit yield is falling: the trailing year keeps shrinking as higher-revenue days age out of the window.","independent":{"value":"DeFiLlama summary/fees/morpheus-ai (dailyFees), re-read 2026-09-19: $557,653 trailing-year and $9,910,716 all-time. The trailing year has fallen every reading: $980K when the claim was written, $737,188 in August, $620,726 on 18 September, $557,653 a day later as another high-revenue day aged out of the window. The 30-day figure is $43,819, annualising to about $533,131.","source":"DeFiLlama morpheus-ai adapter"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"demand_economic_not_theatre","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"unverifiable","claim_holds_up":false,"finding":"Whether inference demand is paid economic demand or emissions-subsidised cannot be settled on-chain.","independent":{"value":null,"source":"Our deep on-chain work found the user-paid-vs-subsidised split genuinely unmeasurable: demand is gateway-masked (sessions open via the API Gateway wallet, not end users), and estTokens is contaminated by the free open beta (near-zero pricing)."},"assessed_date":"2026-09-24","severity":"high"},{"metric":"dex_liquidity","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"MOR trades only in DEX pools, and those pools are thin.","independent":{"value":"DEX pool depth is on-chain-measurable; confirms thin liquidity.","source":"On-chain DEX pools"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"cex_liquidity","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"No centralised exchange lists MOR; every venue CoinGecko tracks is a DEX pool.","independent":{"value":"Six venues listed on CoinGecko as at 2026-09-18, and every one of them a DEX pool (Uniswap V3 on Arbitrum, Uniswap V4 and V3 on Base, Aerodrome). No centralised exchange carries MOR, which is what this verdict says. CoinGecko tickers/volume confirm limited CEX listings and thin volume.","source":"CoinGecko (off-chain)"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"thesis_inference_demand","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"Inference demand is served on-chain, but monthly tokens processed fell in August 2026 after six months of growth.","independent":{"value":"Our LumerinDiamond index, recomputed 2026-09-05 with August complete: monthly tokens processed rose every full month February to July 2026 (1.72B, 1.89B, 2.33B, 3.00B, 7.12B, 16.12B), then FELL to 9.96B in August, -38.2% month on month. The 2026-08-17 assessment projected ~10B for August from 16 partial days and that projection landed (9.96B actual). Sessions fell further than tokens over the same step, 83,699 to 36,286 (-56.6%), so tokens per session rose ~42% (192,574 to 274,374): fewer but materially larger sessions rather than a uniform contraction. The growth half of the claim no longer holds on the last complete month; the 'real demand is served' half still does.","source":"Our on-chain index of LumerinDiamond SessionClosed 7-field receipts (Base), src/data/mor-inference-activity.json (lastUpdated 2026-09-05), cross-checked against the project's own tech.mor.org throughput dashboard."},"assessed_date":"2026-09-24","severity":"medium"},{"metric":"thesis_demand_genuine","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"unverifiable","claim_holds_up":false,"finding":"Whether that demand is paid economic demand rather than emissions-subsidised cannot be settled on-chain.","independent":{"value":null,"source":"The user-paid share is gateway-masked and estTokens is beta-contaminated - genuinely unmeasurable on-chain."},"assessed_date":"2026-09-24","severity":"high"},{"metric":"thesis_permissionless_private","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"match","claim_holds_up":true,"claim":{"quote":"Morpheus is the decentralized infrastructure layer where anyone can build, deploy, and scale AI without gatekeepers.","source_url":"https://gitbook.mor.org/meet-morpheus/what-is-morpheus","archive_url":null,"date":null},"reported":{"value":"Anyone can build, deploy and scale AI without gatekeepers","source":"Morpheus docs, What is Morpheus?","self_reported":null},"independent":{"value":"Both halves now verified. PERMISSIONLESS: we registered a provider from a fresh address with no approval step, and providerRegister is in the Diamond's 73-selector facet map with no owner modifier. PRIVATE: TEE attestation verified end to end on 2026-09-19 for the then TEE-tagged model (qwen3.6-27b:tee), and re-verified on 2026-10-20 on the provider's new host serving qwen3-vl:30b:tee and qwen3-coder:30b:tee: a live TDX quote whose report_data binds to the key in the provider's TLS certificate, computed by us, with the Intel signature chain and TCB confirmed by the vendor portal and its register parse matching ours. The thesis holds for the TEE path. It is stated as the TEE path, because privacy on the other 199 models rests on the provider's conduct rather than on hardware.","source":"Own provider registration + attestation check, 2026-09-19"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"thesis_fair_launch","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"match","claim_holds_up":true,"claim":{"quote":"Fair Launch – equal conditions and opportunities for everyone from day one.","source_url":"https://gitbook.mor.org/meet-morpheus/what-is-morpheus","archive_url":null,"date":null},"reported":{"value":"Fair launch, equal conditions for everyone from day one","source":"Morpheus docs, What is Morpheus?","self_reported":null},"independent":{"value":"Emissions-only issuance verified on-chain; no allocation tranche.","source":"On-chain emission contract"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"compute_subsidy_sustainability","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"The compute emission pool fell from its mid-July 2026 peak while a contract flaw let stake be reposted the same day, and has refilled since the 31 July fix: it now sits above that peak.","independent":{"value":"2,862,944.8 MOR on 2026-09-23 (LumerinDiamond.getComputeBalance on Base), above the ~2,805,000 mid-July peak, and rising ~2,644 MOR/day: accrual ~2,889/day against claims ~245/day over a 7-day window read from chain. The July drawdown coincided with the stake-recycling flaw fixed by the DiamondCut at block 49367526 (31 July 2026).","source":"OYM contract reads of getComputeBalance across archive blocks (scripts/refresh-mor-compute-pool.ts)"},"assessed_date":"2026-09-24","severity":"medium"},{"metric":"access_ration_is_contractual","assessment_level":"onchain-reconciled","record_type":"claim","verdict":"match","claim_holds_up":true,"claim":{"quote":"Compute Budget = 1% of Compute Contract MOR balance at end of the prior day.","source_url":"https://github.com/MorpheusAIs/Docs/blob/main/!KEYDOCS%20README%20FIRST!/Compute%20Providers/Yellowstone%20Compute%20Model.md","archive_url":null,"date":null},"reported":{"value":"Daily compute budget = 1% of the Compute Contract balance","source":"Morpheus Yellowstone Compute Model (design document)","self_reported":null},"independent":{"value":"Budget = computeBalance/100 and stipend = amount x computeBalance/(totalMORSupply x 100), both live on-chain; the same-day stake hold enforces the daily ration in place of the specified getSpendBalance, which is not registered on the Diamond","source":"SessionRouter.sol on the deployed Diamond: getTodaysBudget, stakeToStipend, _rewardUserAfterClose"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"protocol_tvl","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"Capital deposits in the Distribution contracts are the principal the protocol's yield is earned on.","independent":{"value":"$18,384,733 protocol TVL across Morpheus chains, re-read 2026-10-20 ($20,698,328 on 2026-10-07, $24,191,115 on 2026-09-24).","source":"DeFiLlama /tvl/morpheusai"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"builders_impl_address","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"The Base Builders proxy points at the source-verified BuildersV4 implementation, and the slot is watched for change.","independent":{"value":"The EIP-1967 implementation slot on the Base Builders proxy 0x42BB446eAE6dca7723a9eBdb81EA88aFe77eF4B9 points at 0x18faef315b40a6d9cf49628f1133b1aa507513b0, source-verified on BaseScan as BuildersV4.","source":"eth_getStorageAt on the EIP-1967 implementation slot via Alchemy Base"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"mor_providers_count","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"Compute providers are registered and active on the on-chain provider registry.","independent":{"value":"The registry enumerates to 61 active providers, read from getActiveProviders on the LumerinDiamond, re-read 2026-09-18.","source":"LumerinDiamond getActiveProviders on Base + Arbitrum (scripts/refresh-mor-compute-providers.ts)"},"assessed_date":"2026-09-24","severity":"low"},{"metric":"mor_model_bids","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"Providers post live price bids on-chain across most active models.","independent":{"value":"The contract carries 729 active bids across 394 models, out of 407 active models and 461 registered, enumerated from the LumerinDiamond on Base.","source":"LumerinDiamond getActiveModelIds + getModelActiveBids (scripts/refresh-mor-marketplace.ts)"},"assessed_date":"2026-09-24","severity":"info"},{"metric":"mor_total_sessions","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"Sessions settle on-chain: our own index counts every SessionClosed event on the inference contract.","independent":{"value":"395,634 sessions closed, from our own index of LumerinDiamond SessionClosed events on Base, through block 52,342,064 (index updated 2026-10-08), read 2026-10-13; 358,715 at the 2026-09-24 assessment.","source":"OYM on-chain session index (scripts/refresh-mor-inference.ts, src/data/mor-inference-activity.json)"},"assessed_date":"2026-09-24","severity":"low"},{"metric":"mor_funding_safe_balance","assessment_level":"onchain-reconciled","record_type":"finding","verdict":"established","claim_holds_up":false,"finding":"Provider payments settle from a funded multisig account that is topped up by manual action and spent down as sessions close.","independent":{"value":"93,522 MOR held by the compute funding Safe 0x5160C0311A95E0A1072FA85Df23712A7BA1cD4b1 (Gnosis 5-of-9), re-read 2026-09-29, down from 105,826 on 2026-09-18 and 122,996 in August. The balance falling is the account being spent down to settle sessions, which is the mechanism working rather than failing, and it is also the runway shortening.","source":"Base RPC eth_call balanceOf on the MOR token for the funding Safe"},"assessed_date":"2026-09-24","severity":"medium"}],"facts":[{"metric":"openerConcentration","assessment_level":"onchain-reconciled","kind":"measured","flag":"gateway-masked","positive_control":false,"severity":"high","detail":"The session opener is the on-chain gateway wallet, not the end demand source, so opener concentration overstates true concentration and the binding trigger is structurally unmeasurable from openers alone.","assessed_date":"2026-06-08"},{"metric":"estTokens_legacy_overcount","assessment_level":"onchain-reconciled","kind":"measured","flag":"definitional-gap","positive_control":false,"severity":"medium","detail":"Our pipeline's estTokens (33.8B) over-counts the Dec-2025/Jan-2026 open-beta legacy fallback ~5x: our legacy proxy is 23.1B (almost all of it Jan 2026) vs Morpheus's clamped ~4.3B. Root cause is DURATION, not tps - during the free open beta near-zero pricing pushed session endsAt far out, so tps*paidDuration explodes; legacy tps are already <500, so a tps clamp does NOT fix it, and Morpheus's tighter duration capping lives in their private indexer (we don't reproduce it). It is OUR estimation artifact, not a Morpheus claim. Use the attested input+output basis (~10.6B, equal to Morpheus's tokensReceipt) for any displayed or cited token figure; never cite estTokens.","assessed_date":"2026-06-09"},{"metric":"independent_session_index","assessment_level":"onchain-reconciled","kind":"measured","flag":"definitional-gap","positive_control":false,"severity":"info","detail":"We independently index Morpheus sessions from LumerinDiamond SessionOpened events on Base: ~307,732 closed sessions vs MorScan’s 118,128. This is a definitional difference (MorScan’s headline counts completed sessions, excluding ~90k early-terminated; we count all closed), not a discrepancy - so it carries no verdict. Recorded as a provenance note that we index independently. MorScan is a third-party indexer, not Morpheus infrastructure.","assessed_date":"2026-07-10"}]}}