Morpho Watch

USDe on Morpho

USDe on Morpho, on every network: $126K in 1 vault, $375K lent in 2 markets, $772.2M posted as collateral in 4 markets. Rates differ between vaults and markets because each has its own borrowers, collateral and curator.

Data from Morpho's API · updated

Net APY, largest vault

6.53%

Felix USDe V2 ($126K)

Supply APY, largest market

7.35%

against UBTC, HyperEVM

Borrow APY, largest market

8.58%

against UBTC, HyperEVM

Posted as collateral

$772.2M

4 markets

Earn on USDe: vaults

Deposit USDe and a curator lends it out for you. Net APY is after the curator's fee.

Vaults that take USDe
Vault Deposits Net APY 30‑day APY Fee Withdrawable
Felix USDe V2V2Felix · HyperEVM · $126K $126K126.26K USDe 6.53% 7.48% 10% $35.3K

Borrow USDe: markets

Markets that lend out USDe, each against one kind of collateral.

Markets that lend USDe
Market Supplied Supply APY Borrowed Borrow APY Utilization
UBTC / USDeHyperEVM · LLTV 77% $284K283.94K USDe 7.35% $245K$434K collateral 8.58% 86.2%
WHYPE / USDeHyperEVM · LLTV 62.5% $90.9K90.92K USDe 7.26% $77.9K$362K collateral 8.52% 85.7%

Borrow against USDe

Markets that accept USDe as collateral. The LLTV is the loan-to-value at which a loan can be liquidated.

Markets that accept USDe as collateral
Market Supplied Supply APY Borrowed Borrow APY Utilization
USDe / USDGRobinhood Chain · LLTV 91.5% $354.4M354.41M USDG 5.07% $321.7M$361.3M collateral 5.60% 90.8%
USDe / USDCBase · LLTV 91.5% $358.7M358.77M USDC 4.10% $317.4M$354.9M collateral 4.65% 88.5%
USDe / RLUSDEthereum · LLTV 91.5% $40.46M40.46M RLUSD 3.45% $35.07M$55.68M collateral 3.99% 86.7%
USDe / DAIEthereum · LLTV 91.5% $34.9K34.95K DAI 9.19% $31.5K$365K collateral 10.26% 90.0%

About USDe on Morpho

USDe is on Morpho on 4 networks: HyperEVM, Robinhood Chain, Base and Ethereum. Morpho prices it at $0.9994.

One vault takes USDe deposits: Felix USDe V2 on HyperEVM, curated by Felix, with $126K deposited and paying 6.53% net APY after fees.

USDe is lent out in 2 markets, with $375K supplied and $322K borrowed. The largest is UBTC / USDe on HyperEVM, where borrowers pay 8.58% and lenders earn 7.35%.

As collateral, $772.2M of USDe backs $674.2M of loans in 4 markets, which lend USDG, USDC, RLUSD and DAI against it. Every one of them liquidates a loan at 91.5% of the collateral's value. The largest is USDe / USDG on Robinhood Chain, where borrowers pay 5.60%.

USDe on Morpho: quick answers

Where can I earn the most on USDe on Morpho?

1 vault take USDe deposits; the largest, Felix USDe V2, pays 6.53% net APY. None open to deposits holds $1M yet.

Where is it cheapest to borrow USDe on Morpho?

2 markets lend USDe, but none in use has $250K or more left to borrow right now.

Can I borrow against USDe on Morpho?

Yes: 4 markets accept USDe as collateral, with liquidation LTVs up to 91.5%. The largest is USDe / USDG on Robinhood Chain, where borrowers pay 5.60%.

Which networks is USDe on Morpho available on?

HyperEVM, Robinhood Chain, Base and Ethereum.

Borrowing against USDe? Check your numbers with the liquidation price calculator. More assets on the assets page.