Morpho Watch

wstETH on Morpho

Wrapped liquid staked Ether 2.0 (wstETH) on Morpho, on every network: $212K in 1 vault, $517.7M posted as collateral in 35 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

0.00%

Smokehouse WSTETH ($212K)

Posted as collateral

$517.7M

35 markets

Borrowed against it

$266.0M

51.4% of the collateral's value

Cheapest loan against it

1.61%

WETH loan on Monad

Earn on wstETH: vaults

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

Vaults that take wstETH
Vault Deposits Net APY 30‑day APY Fee Withdrawable
Smokehouse WSTETH⚠ Deposits switched offSteakhouse Financial · Ethereum · $212K $212K84.14 wstETH 0.00% 0.00% 10% $212K

Borrow against wstETH

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

Markets that accept wstETH as collateral
Market Supplied Supply APY Borrowed Borrow APY Utilization
wstETH / USDTEthereum · LLTV 86% $127.3M127.44M USDT 3.00% $104.8M$290.8M collateral 3.66% 82.3%
wstETH / WETHEthereum · LLTV 96.5% $64.58M32.06K WETH 2.14% $58.42M$64.97M collateral 2.37% 90.5%
wstETH / USDCEthereum · LLTV 86% $32.78M32.79M USDC 4.48% $28.52M$59.04M collateral 5.16% 87.0%
wstETH / WETHMonad · LLTV 94.5% $25.80M12.84K WETH 1.39%+1.19% rewards $22.36M$24.92M collateral 1.61% 86.7%
wstETH / USDCEthereum · LLTV 86% $10.75M10.75M USDC 4.48% $9.35M$16.74M collateral 5.17% 86.9%
wstETH / WETHEthereum · LLTV 94.5% $16.67M8.28K WETH 3.02% $15.32M$16.66M collateral 3.29% 91.9%
wstETH / EURCVEthereum · LLTV 86% $10.37M9.38M EURCV 1.82% $9.33M$15.50M collateral 2.02% 90.0%
wstETH / WETHBase · LLTV 94.5% $5.37M2.67K WETH 1.54% $4.82M$5.41M collateral 1.71% 89.8%
wstETH / USDCBase · LLTV 86% $2.56M2.56M USDC 4.52% $2.18M$4.51M collateral 5.33% 85.1%
wstETH / EURCVEthereum · LLTV 86% $2.31M2.10M EURCV 1.82% $2.08M$4.24M collateral 2.02% 90.0%
wstETH / USDTEthereum · LLTV 86% $2.98M2.98M USDT 2.99% $2.46M$4.16M collateral 3.65% 82.4%
wstETH / EURCBase · LLTV 86% $1.09M986.91K EURC 6.86% $1.02M$2.46M collateral 7.34% 93.7%
wstETH / USDCArbitrum · LLTV 86% $1.04M1.04M USDC 6.65% $971K$1.93M collateral 7.16% 93.1%
wstETH / WETHOP Mainnet · LLTV 94.5% $1.72M855.64 WETH 1.93% $1.57M$1.81M collateral 2.12% 91.2%
wstETH / EURCEthereum · LLTV 86% $761K688.66K EURC 2.35% $648K$1.24M collateral 2.77% 85.2%
wstETH / USDSEthereum · LLTV 86% $608K608.34K USDS 3.89% $544K$871K collateral 4.35% 89.5%
wstETH / USDCEthereum · LLTV 86% $411K410.84K USDC 5.44% $332K$749K collateral 6.78% 80.7%
wstETH / WETHUnichain · LLTV 96.5% $602K299.66 WETH 4.85% $519K$544K collateral 5.66% 86.1%
wstETH / WETHBase · LLTV 96.5% $316K157.06 WETH 1.58% $283K$305K collateral 1.77% 89.4%
wstETH / PYUSDEthereum · LLTV 86% $147K147.46K PYUSD 5.72% $132K$260K collateral 6.41% 89.5%
wstETH / USDT0Arbitrum · LLTV 86% $72.1K72.18K USDT0 3.25% $65.0K$145K collateral 3.61% 90.1%
wstETH / USDCMonad · LLTV 86% $64.2K64.17K USDC 1.84% $62.0K$127K collateral 1.91% 96.7%
wstETH / USDCMonad · LLTV 86% $113K113.28K USDC 1.93% $60.1K$77.9K collateral 3.67% 53.1%
wstETH / EUReArbitrum · LLTV 86% $54.0K48.97K EURe 1.33% $45.5K$72.5K collateral 1.58% 84.2%
wstETH / EURCEthereum · LLTV 86% $20.4K18.49K EURC 2.53% $17.7K$50.3K collateral 2.92% 86.7%
wstETH / WETHEthereum · LLTV 94.5% $31.4K15.60 WETH 2.07% $28.4K$34.4K collateral 2.29% 90.4%
wstETH / AUSDMonad · LLTV 86% $22.2K22.17K AUSD 2.41% $18.8K$28.0K collateral 2.84% 85.1%
wstETH / AUSDEthereum · LLTV 86% $15.0K15.04K AUSD 3.77% $14.2K$26.3K collateral 3.98% 94.7%
wstETH / tGBPEthereum · LLTV 86% $12.9K9.78K tGBP 0.81% $12.9K$21.5K collateral 0.81% 100.0%
wstETH / RLUSDEthereum · LLTV 86% $4.6K4.56K RLUSD 31.33% $4.3K$14.7K collateral 33.46% 94.4%
wstETH / WBTCEthereum · LLTV 86% $3.15M43.80 WBTC <0.01% $9.6K$13.6K collateral 0.03% 0.3%
wstETH / eUSDEthereum · LLTV 86% $2.2K2.20K eUSD 6.13% $2.0K$3.9K collateral 6.72% 91.5%
wstETH / XSGDBase · LLTV 86% $1.5K1.98K XSGD 0.68% $1.4K$2.1K collateral 0.76% 90.0%
wstETH / EUROPEthereum · LLTV 86% $2.8K2.50K EUROP 0.00% $3.00$6.00 collateral 0.03% 0.1%
wstETH / wARSEthereum · LLTV 62.5% $43.5K72.37M wARS 0.00% $1.00$3.00 collateral 0.07% <0.01%

About wstETH on Morpho

Wrapped liquid staked Ether 2.0 (wstETH) is on Morpho on 6 networks: Ethereum, Monad, Base, Arbitrum, OP Mainnet and Unichain. Morpho prices it at $2.5K.

One vault takes wstETH deposits: Smokehouse WSTETH on Ethereum, curated by Steakhouse Financial, with $212K deposited and paying 0.00% net APY after fees.

As collateral, $517.7M of wstETH backs $266.0M of loans in 35 markets, which lend USDT, WETH, USDC and EURCV and 13 other assets against it. They liquidate a loan at between 62.5% and 96.5% of the collateral's value. The largest is wstETH / USDT on Ethereum, where borrowers pay 3.66%.

wstETH on Morpho: quick answers

Where can I earn the most on wstETH on Morpho?

1 vault take wstETH deposits; the largest, Smokehouse WSTETH, pays 0.00% net APY. None open to deposits holds $1M yet.

Can I borrow against wstETH on Morpho?

Yes: 35 markets accept wstETH as collateral, with liquidation LTVs up to 96.5%. The largest is wstETH / USDT on Ethereum, where borrowers pay 3.66%.

Which networks is wstETH on Morpho available on?

Ethereum, Monad, Base, Arbitrum, OP Mainnet and Unichain.

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