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Morpho Watch

USDS on Morpho

USDS Stablecoin (USDS) on Morpho, on every network: $37.20M in 2 vaults, $8.49M lent in 5 markets. Rates differ between vaults and markets because each has its own borrowers, collateral and curator.

Data from Morpho's API · updated

Best vault net APY

5.26%

sky.money USDS Flagship

Best market supply APY

9.52%

against PT-sUSDS-26NOV2026, Ethereum

Cheapest to borrow

2.96%

against cbBTC, Ethereum

Posted as collateral

$0

0 markets

Earn on USDS: vaults

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

Vaults that take USDS
Vault Deposits Net APY 30-day APY Fee Withdrawable
sky.money USDS FlagshipV2Sky Money · Ethereum · $36.17M $36.17M36.18M USDS 5.26%incl. 4.29% rewards 0.65% 0% $28.72M
sky.money USDS Risk CapitalV2Sky Money · Ethereum · $1.03M $1.03M1.03M USDS 4.18% 4.17% 0% $103K

Borrow USDS: markets

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

Markets that lend USDS
Market Supplied Supply APY Borrowed Borrow APY Utilization
cbBTC / USDSEthereum · LLTV 86% $3.68M3.68M USDS 2.66% $3.31M$5.98M collateral 2.96% 90.0%
PT-sUSDS-26NOV2026 / USDSEthereum · LLTV 91.5% $2.33M2.33M USDS 9.52% $2.21M$2.69M collateral 10.05% 95.0%
wstETH / USDSEthereum · LLTV 86% $1.44M1.44M USDS 2.88% $1.22M$2.55M collateral 3.40% 85.0%
stUSDS / USDSEthereum · LLTV 86% $1.03M1.03M USDS 4.17% $930K$1.16M collateral 4.64% 90.0%
WETH / USDSEthereum · LLTV 86% $4.4K4.39K USDS 14.29% $4.0K$9.5K collateral 15.66% 91.8%

USDS on Morpho: quick answers

Where can I earn the most on USDS on Morpho?

sky.money USDS Flagship on Ethereum pays 5.26% net APY, the most among USDS vaults with at least $1M deposited. The largest USDS vault, sky.money USDS Flagship, pays 5.26%.

Where is it cheapest to borrow USDS on Morpho?

Borrowing USDS against cbBTC on Ethereum costs 2.96% a year, the lowest among markets with at least $250K available.

Which networks is USDS on Morpho available on?

Ethereum.

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