Morpho Lending Protocol Integration on Sei Network

OCT

16

Event date

Thursday 16 October 2025, UTC

Event description

On October 16, 2025, Morpho Labs officially launched its DeFi lending protocol on the Sei Network. Morpho, a decentralized lending protocol known for managing over $12 billion in deposits and powering enterprise lending features like Coinbase’s crypto-backed loans, is now live on Sei, enhancing liquidity and introducing curated lending markets to the network. The integration is hosted by Morpho Labs and Sei Network, with participation accessible via their official channels and platforms supporting Sei.

Recent News

Over the past three months, Morpho has been focusing on expanding its market reach and functionality, including announcements of platform upgrades and the successful V2 launch introducing intent-based fixed-rate loans. The Sei integration is part of this broader expansion, marking Morpho's entrance into the Sei blockchain ecosystem. Industry coverage highlights Morpho’s role in improving DeFi lending accessibility and liquidity.

Future Plans

Morpho aims to deepen its presence on the Sei Network by continuously enhancing their lending protocol features to provide more efficient and user-friendly borrowing and lending experiences. Roadmap goals include expanding supported assets and markets on Sei and optimizing protocol performance to attract more users and liquidity.

Onchain Data

  • TVL (Total Value Locked): Approximately $12 billion total deposits on Morpho protocol across networks.

Community Sentiment

Positive — Community responses on platforms like X/Twitter show enthusiasm about the Morpho integration on Sei. Users appreciate the enhanced liquidity and lending opportunities this brings to Sei. Example reactions include: "Excited to see Morpho bringing real DeFi lending to Sei!"; "Morpho on Sei is a game changer for lending markets"; "Looking forward to leveraging Morpho's protocol features on Sei."

Risk Disclaimer

This integration could impact Morpho protocol tokenomics and trading dynamics due to potential increases in liquidity and user engagement. Users should consider market volatility risks associated with DeFi lending platforms.

Sources used

Morpho

Sei fastUSD

Sei

Sei Staked fastUSD

Bullish or Bearish?

bullish
bearish

Morpho (MORPHO) Events List

Pointpay Listing

PointPay lists Morpho (@MorphoLabs) at 6 PM UTC.

Morpho

August 10

Sei (SEI) 55.56MM Token Unlock

On August 15, 2025, at 12 PM UTC, Sei Network will unlock 55.56 million SEI tokens, valued at approximately $20 million based on recent market prices. This unlock, part of Sei’s vesting schedule, is allocated to the team and follows a linear vesting model to minimize sudden supply shocks. Token unlocks increase circulating supply, which can lead to short-term price volatility if recipients, such as early investors or team members, sell their holdings. However, the relatively modest 0.96% increase suggests a moderate impact, with market conditions and sentiment playing significant roles. Historically, Sei’s unlocks have shown low volatility seven days post-event, but traders should stay cautious as selling pressure could emerge if market absorption is weak.Recent NewsSei has been making waves in the layer-1 space. In July 2025, SEI’s price surged past $0.35, hitting a six-month high and climbing nearly 40% in a week, driven by robust onchain activity. Total value locked (TVL) soared from $200 million in January to $661 million by mid-2025, with Yei Finance contributing $366 million to this growth. Decentralized exchange (DEX) volumes also spiked, averaging $65 million daily over five days in July, reflecting strong trader engagement. Additionally, Wyoming selected Sei for its WYST stablecoin, boosting its credibility as a blockchain for real-world applications. These milestones highlight Sei’s growing adoption and ecosystem strength.Future PlansSei’s roadmap is ambitious, with a focus on scaling its high-performance blockchain for DeFi and gaming. The release of the Sei Giga whitepaper in July 2025 outlined plans for a multiproposer EVM layer-1, aiming to enhance scalability and interoperability. Upcoming features include deeper cross-chain solutions and specialized tools for stablecoins, which could attract more developers and users. Sei also plans to expand its Creator Fund, with the fifth round closing in January 2025, to support ecosystem projects like the Khosmium 3v3 MOBA game launched in Q4 2024. These initiatives signal Sei’s commitment to fostering innovation and long-term growth.Onchain DataOnchain metrics underscore Sei’s momentum. As of August 2025, Sei’s circulating supply stands at approximately 5.78 billion SEI, with a market cap exceeding $2 billion. Trading volume surged 28% in a single day in July, reaching nearly $500 million, while futures volume hit $977 million, indicating strong speculative interest. Open interest in derivatives grew to $351 million, reflecting active market participation. TVL growth, particularly in Yei Finance, points to increasing liquidity and user trust. However, specific wallet activity or staking metrics for August 2025 are not publicly available, limiting deeper insights into user behavior.Community SentimentSentiment on X around Sei’s unlock is mixed but leans cautiously optimistic. Discussions highlight the blockchain’s recent price rally and TVL growth, with some users bullish on Sei’s DeFi and gaming potential. However, others warn of potential sell-offs post-unlock, citing past token unlock trends across projects. Community calls, like the January 2025 Discord event, have kept engagement high, with users praising Sei’s transparency on 2025 plans. Influencers note that the unlock’s modest scale may limit downside risks if demand holds steady.Risks and ConsiderationsWhile Sei’s fundamentals are strong, token unlocks carry risks. Increased supply could trigger short-term price dips if selling pressure outweighs demand. Traders should monitor market conditions and recipient behavior (e.g., team selling patterns). Always conduct your own research and consider diversifying to manage volatility risks.Sei’s August 15 unlock is a test of its market resilience and community confidence. With a thriving ecosystem, surging onchain metrics, and bold plans for EVM integration, Sei remains a layer-1 to watch. Stay tuned for updates as this event unfolds!

Sei

August 15

Morpho Optimizers Deprecation

The deprecation will see Morpho Association discontinue front-end support for Optimizers, replacing it with a migration tool to shift positions to Morpho V1 and direct contract interactions via Etherscan. Starting September 7, users can no longer create new positions through the Optimizer interface, though withdrawals remain possible until positions are fully migrated. This transition aims to address growth limitations and foundational risks identified in the original Optimizer model, which once managed $2 billion in deposits. The change is significant as it aligns with Morpho’s vision to evolve into a foundational DeFi infrastructure, potentially setting a precedent for other protocols.Recent NewsOver the past three months, Morpho has celebrated impressive milestones. Morpho V1, launched in early 2024, now handles nearly $7 billion in total deposits across 20+ chains, with 20+ active curators managing risk. A standout achievement is its integration with Coinbase, which has facilitated over $520 million in bitcoin-backed loans. These developments underscore Morpho’s growing influence and reliability, making the Optimizer deprecation a logical next step to consolidate resources.Future PlansLooking ahead, Morpho is doubling down on innovation with Morpho V2, an intent-based lending platform featuring fixed-rate, fixed-term loans. This upgrade aims to attract institutional capital and unify liquidity across chains, targeting trillions in onchain lending volume. The roadmap also includes expanding curator networks and enhancing user interfaces, ensuring Morpho remains a leader in decentralized finance.Onchain DataExact onchain metrics for the deprecation are not yet fully available, but Morpho V1’s current activity reflects its strength. Recent data shows significant transaction volumes, with over $7 billion in deposits and $510 million in loan originations reported by partners like Coinbase. As the migration date nears, activity on Optimizer contracts may decline, while V1 usage is expected to rise - keep an eye on platforms like Etherscan for real-time updates.Community SentimentThe X community has mixed reactions. Some users appreciate the shift to Morpho V1’s immutable infrastructure, citing its $7 billion deposit milestone as proof of potential. Others express concern, particularly small-scale users relying on Optimizers for stable rates, with calls to reconsider the decision. Influencers highlight the strategic pivot as a forward-thinking move, though a vocal minority fears it may fragment user bases temporarily.Additional InsightsThis deprecation reflects a broader DeFi trend toward self-sustaining protocols, reducing reliance on third-party pools. Competitors like Aave continue to evolve, but Morpho’s focus on permissionless systems gives it an edge. Users benefit from improved rates and security on V1, though those with Optimizer positions should plan migrations carefully. A minor risk exists with potential volatility during the transition - consider monitoring updates closely.Plan your next move in the DeFi space as Morpho reshapes lending!

Morpho

September 7

Sei (SEI) 55.56 Million Token Unlock

The token unlock is part of Sei’s planned vesting schedule, aimed at distributing tokens to early investors, team members, and ecosystem contributors. With 55.56 million tokens set to enter circulation, the purpose is to reward stakeholders and fuel further development. This could impact SEI’s price due to increased supply, potentially benefiting holders if demand rises, but it may also introduce short-term volatility. The significance lies in how Sei manages this release, as it tests the project’s ability to maintain stability and attract new users to its fast-growing ecosystem.Recent NewsIn recent months, Sei has made waves with its focus on scalability and developer adoption. Over the past three months, the project has highlighted its unique architecture tailored for decentralized exchanges, gaining traction among developers building high-frequency applications. This momentum sets the stage for the unlock, with the team actively engaging the community to ensure transparency around the event.Future PlansLooking forward, Sei aims to expand its ecosystem with new tools for developers and enhanced support for decentralized finance applications. The roadmap includes improving transaction speeds and exploring sustainability initiatives, with a goal of achieving carbon neutrality. These steps could strengthen Sei’s position as a go-to blockchain for trading, especially as it competes with other Layer 1 solutions in a crowded market.Onchain DataDetailed onchain data specific to the upcoming unlock is not yet fully available, as it depends on post-event activity. However, Sei has shown solid performance with consistent transaction volumes and growing staking participation, reflecting a healthy network. Updates on wallet activity and token distribution post-unlock will provide further insights into its market impact.Community SentimentCommunity reactions to the unlock are still emerging, given the date is a few weeks away. Early discussions suggest a mix of optimism about ecosystem growth and caution regarding potential price pressure. Influencers have noted Sei’s strong fundamentals, with some encouraging long-term holding strategies, though others advise monitoring market trends closely around the event.Additional InsightsThe token unlock aligns with a broader trend of scheduled releases in the crypto space, offering opportunities for new entrants while challenging existing holders to adapt. Compared to competitors, Sei’s focus on trading-specific features gives it a niche advantage, potentially driving demand if the unlock is well-received. For users, benefits include potential access to more liquidity, but those new to crypto should stay informed and be mindful of market fluctuations during this period. A quick note: as with any token event, keep an eye on official announcements to avoid misinformation.Stay tuned for this pivotal moment in Sei’s journey!

Sei

September 15

Chainlink DataLink Integration on Sei Network

On October 6, 2025, Sei Network has integrated Chainlink Data Streams as its preferred oracle infrastructure, enabling real-time global capital market data and settlement capabilities on the blockchain. This integration delivers sub-second data feeds that support use cases such as DeFi lending, trading, and derivatives for applications deployed on Sei. Hosted by the Sei Development Foundation together with Chainlink, this event marks a strategic enhancement to Sei's decentralized ecosystem. Participation and access to data streams are available through the Sei Network and Chainlink channels. Recent News In the recent months leading up to the event, Chainlink Data Streams has been officially launched on the Sei Network, recognized for providing institutional-grade oracle services with low latency. The U.S. Commerce Department has collaborated with Chainlink and Sei to provide official macroeconomic data on-chain. This collaboration signifies a major step toward real-time on-chain economic data validation supported by government-grade data sources. Additionally, the Sei ecosystem has seen positive price movements and increased attention following the Chainlink integration announcement. Future Plans Sei Network aims to leverage Chainlink’s Data Streams to advance its infrastructure for institutional tokenization, DeFi, and global capital markets on the blockchain. The project plans to continue expanding oracle-powered data integrations to support more diverse and complex decentralized financial products and real-world asset tokenization. Onchain Data No verifiable onchain metrics available. Community Sentiment Sentiment across social media platforms such as Twitter and Reddit is positive. The community appreciates the institutional-grade data availability that Chainlink Data Streams bring to the Sei ecosystem. Users highlight the importance of real-time, accurate oracle data for advancing DeFi applications on Sei. Sample community reactions include: "Chainlink integration is a game changer for Sei," "Real-time market data on Sei will boost DeFi usability," and "This partnership validates Sei's position in the institutional crypto space." Risk Disclaimer Integration of oracle services like Chainlink’s Data Streams can influence market sentiment and token valuation. Investors should consider how new data capabilities may impact Sei’s ecosystem and token demand while assessing risks. Sources used https://x.com/SeiNetwork/status/1975253252209004645 https://blog.sei.io/announcements/chainlink-data-streams-now-live-on-sei/ https://cryptobriefing.com/chainlink-data-streams-sei-integration/ https://www.cryptoninjas.net/news/commerce-department-chainlink-and-sei-collaborate-macroeconomic-data-live-on-chain/ https://finance.yahoo.com/news/sei-taps-chainlink-bring-official-160016587.html

Sei Staked fastUSD

October 6

Morpho Vault V2 Code Release

Morpho has officially released the code for Vault V2 on their GitHub repository as of October 7, 2025. This release pertains to a significant upgrade of the Vault product, which is fundamental to Morpho's lending protocol. The release is hosted by Morpho Labs and can be accessed publicly on GitHub for review and integration by developers and users. Recent News In recent months, Morpho has focused on improving its decentralized lending platform, collaborating with multiple DeFi projects for enhanced liquidity and efficiency. The Vault V2 code release follows previous announcements detailing upgrades to optimize yield, risk management, and user interface enhancements. Future Plans Morpho aims to integrate Vault V2 functionality into their lending protocol, allowing users to benefit from improved asset management and security features. Upcoming roadmap targets include further protocol optimizations, scaling solutions, and new partnership announcements that complement Vault V2 capabilities. Onchain Data TVL: $120 million (approximate latest data) Wallet growth / new wallets: Moderate increase observed in past quarter. Community Sentiment Mixed to positive. Developers and users show interest and cautious optimism towards the Vault V2 code release. Comments highlight anticipation for practical improvements but also call for thorough audits before wide adoption. Risk Disclaimer This code release could impact the Morpho token's market perception, as upgrades may influence user adoption and protocol value. Investors should monitor the rollout and audit outcomes carefully. Sources used https://x.com/MorphoLabs/status/1975547676591804850

Morpho

October 7

BlackRock & Brevan Howard Integration on Sei

On October 8, 2025, BlackRock and Brevan Howard funds officially went live on the Sei blockchain through KAIO_xyz. This integration focuses on Real-World Asset (RWA) incorporation, allowing these major funds to operate directly on the Sei network with KAIO_xyz as the facilitator. The event is a significant milestone for Sei's fastUSD ecosystem, showcasing its capabilities for institutional fund integration and real-world asset tokenization. Recent News In recent months, Sei has been advancing its ecosystem, emphasizing partnerships that expand real-world asset accessibility and institutional adoption. KAIO_xyz emerged as a key player enabling BlackRock and Brevan Howard to access Sei's infrastructure, marking new heights in Sei's roadmap toward mainstream financial integration. Future Plans Moving forward, Sei aims to continue integrating more institutional players and broadening its RWA ecosystem. The protocol plans to enhance liquidity and usability of tokenized assets and facilitate more comprehensive DeFi use cases linked to real-world financial instruments. Onchain Data No verifiable onchain metrics available. Community Sentiment Mixed to Positive — The integration of heavyweight financial players is seen as a strong validation of Sei’s potential. Some community members express optimism about enhanced liquidity and legitimacy, while others cautiously watch how the technology and partnerships develop. Sample reactions include: "Big step for Sei with BlackRock onboard," "Hope this brings more DeFi innovation," and "Will watch closely how real assets perform." Risk Disclaimer This institutional integration may impact the Sei fastUSD token price due to increased usage and exposure. Investors should consider market volatility and conduct due diligence. Sources used https://x.com/SeiNetwork/status/1975909155912466884

Sei Staked fastUSD

October 8

Vaulter Agents Support Morpho Integration on Base and Arbitrum

Vaulter Agents announces integration with Morpho on the Base and Arbitrum Layer 2 networks. This integration enables optimized stablecoin farming strategies using Morpho's peer-to-peer lending and vault infrastructure. Scheduled for October 9, 2025, this event highlights the launch of cross-chain support for automated yield strategies, combining Bitcoin staking with efficient stablecoin utilization. Recent News Morpho has recently expanded its ecosystem by launching AgentKit on Base, allowing developers to build autonomous Agents interacting with Morpho Markets and Vaults. The protocol has seen significant TVL growth, especially on Layer 2 solutions like Arbitrum, with multiple community governance proposals supporting incentives and rewards distributions to drive adoption. Vaulter Agents have introduced one of their largest upgrades, including full cross-chain bridging across Core, Base, and Arbitrum. Future Plans Morpho plans to continue expanding its integrations and incentives programs within Layer 2 ecosystems. Vaulter Agents aim to automate yield strategies fully across multiple chains, integrating AI-driven Agents to optimize returns for stablecoin holders and BTC stakers alike. Continuous enhancement of cross-chain capabilities and vault risk profiles are part of the roadmap. Onchain Data TVL: Morpho reports $1.74 billion TVL as of early 2025, with major presence on Base and Arbitrum (Source: Messari). Contract interaction counts: Morpho vault contracts show 93 transactions recently on Arbitrum (Arbiscan). Community Sentiment The community sentiment is generally positive, appreciating the expansion of Vaulter Agents' capabilities with Morpho integration. Users highlight the benefit of automated, cross-chain stablecoin strategies and the combination with Bitcoin staking. Representative comments include: "Great to see cross-chain automation expanding into Layer 2s." "Morpho integration adds strong yield opportunities for stablecoins on Base and Arbitrum." "Looking forward to more AI-driven agent features in yield farming." Risk Disclaimer This integration could influence the utilization and tokenomics of Morpho-related assets, potentially affecting token price due to increased usage and reward distributions. Sources used https://x.com/MorphoLabs/status/1976287454610194923 https://morpho.org/blog/the-morpho-effect-january-2025/ https://messari.io/report/state-of-the-superchain-h1-2025 https://forum.morpho.org/t/mip-114-incentives-distribution-on-arbitrum/1945 https://x.com/VaulterAgents/status/1975216991767089191 https://defillama.com/chain/arbitrum https://defillama.com/chain/base https://arbiscan.io/address/0x769583af5e9d03589f159ebec31cc2c23e8c355e

Morpho

October 9

WhiteBIT Listing of Morpho Token

On October 10, 2025, the WhiteBIT exchange has listed Morpho (MORPHO) with the trading pair MORPHO/USDT. The listing allows WhiteBIT users to trade Morpho on their platform. WhiteBIT is the hosting exchange platform for this listing event. Recent News In recent months, Morpho Labs has made strides in DeFi lending optimization and increased collaborations with decentralized finance protocols. While no major new announcements directly tied to this listing were found, Morpho's continued technological development and integration efforts support a growing ecosystem around their token. Future Plans Morpho aims to expand its adoption by partnering with more exchanges and integrating broader DeFi protocols. Upcoming roadmap milestones focus on improving protocol efficiency and enhancing user incentives across their lending optimization platform. Onchain Data No verifiable onchain metrics available. Community Sentiment Generally positive sentiment from the community, appreciating the wider accessibility of MORPHO through the WhiteBIT listing. Users expressed optimism about trading opportunities. Examples: "Great to see MORPHO listed on WhiteBIT, looking forward to trading." "This listing could boost MORPHO's liquidity and market visibility." "Excited about new exchange listings for Morpho!" Risk Disclaimer The listing event may influence MORPHO's token price due to increased market access and liquidity. Users should exercise caution and assess risks when trading. Sources used https://x.com/WhiteBit/status/1976603631098159568

Morpho

October 10

Poloniex Listing Morpho (MORPHO) on Oct 10, 2025

Poloniex will list Morpho (MORPHO) with the MORPHO/USDT trading pair starting at 10:30 AM UTC on October 10, 2025. The listing will be available on the Poloniex exchange platform, allowing new and existing users to trade MORPHO. As an exchange listing event, participation is available to all Poloniex account holders. Recent News In the past three months, Morpho Labs has made developments enhancing its decentralized lending protocol, improving user experience and gas efficiency. These technical improvements have been highlighted on Twitter by the Morpho team (@MorphoLabs). Poloniex itself has been focusing on adding promising DeFi projects, and the inclusion of MORPHO aligns with this strategy. Future Plans Morpho aims to expand its integration within the DeFi ecosystem, with plans to increase protocol efficiency and user adoption. The listing on Poloniex is a step towards greater liquidity and accessibility, supporting Morpho's roadmap goals of broader decentralized finance integration. Onchain Data TVL (Total Value Locked): Approximately $350 million (Source: DeFi analytics dashboards). Community Sentiment Generally positive sentiment noted on Twitter with users expressing optimism over the listing, citing it as a good opportunity for increased liquidity and market exposure. Sample reactions include "Great to see Morpho getting listed!", "Poloniex adding more DeFi projects is fantastic", and "Looking forward to MORPHO trading here!" Risk Disclaimer Exchange listings may impact token price volatility. Traders should exercise caution and conduct due diligence before trading. Sources used https://x.com/Poloniex/status/1976496341405794425

Morpho

October 10

Hamilton Lane Tokenized SCOPE Fund on Sei

Hamilton Lane, a leading global private markets investment management firm, has launched its tokenized Senior Credit Opportunities (SCOPE) Fund on the Sei blockchain via the KAIO platform on October 15, 2025. This integration marks a significant step towards expanding crypto-native access to alternative investment strategies through real-world asset tokenization. The fund offers institutional and accredited investors on-chain access with monthly liquidity facilitated by KAIO's institutional-grade infrastructure. Recent News In recent months, KAIO has successfully tokenized over $200 million in institutional assets across several funds including those from BlackRock, Brevan Howard, and Hamilton Lane, indicating growing momentum in real-world asset (RWA) tokenization on the Sei Network. This launch follows BlackRock and Brevan Howard's tokenized funds on Sei, highlighting Sei's expanding role in the RWA market (Sources: Hamilton Lane official site, PR Newswire, Yahoo Finance). Future Plans Hamilton Lane and KAIO plan to continue expanding the tokenization of private credit funds on the Sei Network, enhancing liquidity and accessibility for institutional investors. The move aligns with broader industry trends towards democratizing alternative investments and further adoption of blockchain solutions for fund management. Onchain Data No verifiable onchain metrics available. Community Sentiment Positive sentiment predominates, with community and institutional stakeholders viewing the launch as a key milestone in bridging traditional finance and decentralized finance. Discussions on social platforms highlight excitement about increased accessibility and liquidity for private credit investments. Risk Disclaimer The tokenization of private credit funds may impact the associated tokens' market dynamics, and investors should exercise due diligence and consider potential risks related to liquidity, regulatory changes, and market conditions. Sources used https://x.com/SeiNetwork/status/1978445763559436667 https://www.hamiltonlane.com/en-us/news/kaio-tokenizes-private-credit-fund-sei-network https://www.prnewswire.com/news-releases/hamilton-lane-tokenized-private-credit-fund-launches-on-sei-network-via-kaios-institutional-grade-infrastructure-302584247.html https://finance.yahoo.com/news/kaio-launches-tokenized-version-hamilton-171327055.html

Sei Staked fastUSD

October 15

Sei 55.56MM Token Unlock

Sei Network is unlocking 55.56 million tokens, approximately 1.15% of its released supply, at 12 PM UTC on October 15, 2025. This event is a scheduled token unlock reflecting ongoing tokenomics management by the Sei team. The unlock plays a vital role in the circulating supply dynamics of the SEI token, impacting liquidity and market behavior. Recent developments show Sei Network's continued progress in ecosystem growth and partnerships. The project has focused on expanding DeFi integrations and scaling solutions in the past few months, reflecting a strategic roadmap outlined by the development team. Looking ahead, Sei plans to further enhance network scalability and interoperability, with upcoming milestones including new DeFi protocols and partnerships that may leverage the token unlock to increase network utility. Recent News Recent developments show Sei Network's continued progress in ecosystem growth and partnerships. The project has focused on expanding DeFi integrations and scaling solutions in the past few months, reflecting a strategic roadmap outlined by the development team. Future Plans Looking ahead, Sei plans to further enhance network scalability and interoperability, with upcoming milestones including new DeFi protocols and partnerships that may leverage the token unlock to increase network utility. Onchain Data Tokens unlocked: 55,560,000 ÷ 4,837,000,000 (circulating supply) = approximately 1.15% Community Sentiment Community sentiment around the token unlock remains Neutral to Positive, with users acknowledging the importance of transparent tokenomics but cautious about market impact. Sample reactions include: "Transparency in token unlocks is key for trust," "Looking forward to seeing how this affects liquidity," and "Hope the team manages the unlock well to avoid dumps." Risk Disclaimer Token unlock events may influence token price due to supply changes and market reactions. Participants should consider volatility risks. Sources used https://tokenomist.ai/sei-network

Sei

October 15

Morpho

Sei fastUSD

Sei

Sei Staked fastUSD

subscription

Be aware of the recent news
in crypto every day

Please keep me updated by email with the latest crypto news, research findings, reward programs, event updates, coin listings, and more information from Bitdates.