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Apollo and the Morpho Association have reached a partnership to increase their holdings by 90 million MORPHO tokens over 48 months.
ChainCatcher News, according to official sources, the decentralized on-chain lending network Morpho Association announced that it has signed a cooperation agreement with Apollo Global Management, Inc. (hereinafter referred to as “Apollo”) and its related entities.
According to the terms of the agreement, Apollo or its related entities will acquire MORPHO tokens through open market purchases, over-the-counter (OTC) transactions, and other contractual arrangements, but the total holding of MORPHO tokens within 48 months is capped at 90 million tokens, with transfer and trading restrictions in place.
In this collaboration, Apollo will work with Morpho to jointly support the development of the on-chain lending markets on the Morpho protocol. The transaction is exclusively advised by Galaxy Digital UK Limited.