Paul Frambot

speaker

486 appearances 1 recordings 1 series first heard Jul 2026 last heard 29 Jul

Paul Frambot’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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And that's what Midnight truly achieved in a way that we would never be able to do it.

So anyway.

Basically, a morpho midnight market should think of as a zero-coupon bond that can be traded in order, or like a zero-coupon obligations.

It's not exactly a bond, but an obligation that can be traded.

And the price of that obligation until the term dictates the amount of interest rate that you will have.

Just like a traditional zero-coupon obligation, basically.

So that's the core primitive.

Now, in order to access those obligations, it's a bit like Morpho Blue.

Morpho Blue, you have thousands of markets.

Morpho Midnight, you have thousands of obligations.

So you probably want to make sure to route through all those different markets.

You probably want to use a vault, right?

And this vault is basically going to be in charge of allocating across the different markets that it's interested in.

When you're a vault and you deposit into MorphoBlue, you just have to select the risk, right?

Like the risk parameters.

But you don't really choose the rate at which you invest, right?

Whereas in Midnight, you can say, hey, here's the risk I'm willing to take.

I'm willing to lend to a Bitcoin-backed loan market.

And this time you can say, hey, I'm willing to lend at like 5% and not below 5%, right?

And not only you can do that, but you can also manage the liquidity.

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