cbADA / USDC on Base (62.5% LLTV)
A Morpho market on Base where people borrow USDC against cbADA. A loan can be liquidated once it reaches 62.5% of the collateral's value. Lenders earn 5.68% a year and borrowers pay 6.71% right now.
Data from Morpho's API · updated
Borrow APY
6.71%
30-day average 7.31%
Supply APY
5.68%
30-day average 6.54%
Supplied
$2.67M
2.67M USDC
Borrowed
$2.27M
85.0% utilization
Available to borrow
$400K
free liquidity right now
Collateral posted
$5.83M
34.19M cbADA
This is the market behind Coinbase's Cardano loans →
See every Coinbase loan market and what each costs right now.
cbADA / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
cbADA / USDC interest rate curve
What borrowers would pay at each utilization level, with today's settings
Borrow APY Supply APY
At the 90% target, borrowers pay 7.01% right now. Below it the rate falls to as little as a quarter of that; above it, it climbs to four times that when the market is fully borrowed. The curve itself also moves: while utilization stays above 90% the whole curve drifts up, and below 90% it drifts down. How Morpho interest rates work.
Liquidation map
How much cbADA collateral could be liquidated if its price fell by each amount
Based on today's loans and today's cbADA price in USDC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 62.5%fixed for the life of the market |
|---|---|
| Liquidation bonus | 12.68%extra collateral a liquidator receives |
| cbADA price in USDC | 0.172 USDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x35D8…e45f |
| Price feeds | 0x34cD…9041 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | cbADAprice $0.1707 |
| Borrowers | 787 |
| Created | January 15, 2026 |
| Market ID | 0xd7520ad1…36e41d |
| Rate model | 0x4641…2687 |
| cbADA token | 0xcbAD…7b8c |
| USDC token | 0x8335…2913 |
Vaults lending here
$2.14M of the $2.67M supplied comes from these vaults
Largest borrowers
787 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xDf0D…0933 | $86.7K | 1.33 |
| 0x722B…8660 | $78.9K | 1.49 |
| 0x3016…779a | $77.1K | 1.79 |
| 0x9049…Bcf4 | $76.7K | 2.29 |
| 0x614d…A715 | $62.7K | 1.04 |
| 0x4589…30eB | $53.5K | 1.68 |
| 0x6AA8…2681 | $52.2K | 2.06 |
| 0xe23d…aFd8 | $51.2K | 1.15 |
| 0xE5C6…2990 | $50.8K | 1.22 |
| 0x1974…f6CE | $50.8K | 1.38 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
107 in the last 30 days, $161K of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $411410.64 USDC | 0xf884…2497 | |
| $316316.30 USDC | 0x99e6…b825 | |
| $110109.73 USDC | 0xdaa6…c08a | |
| $22.5122.51 USDC | 0xdabc…16a0 | |
| $26.6026.60 USDC | 0x2817…31c5 | |
| $319319.41 USDC | 0x2817…31c5 | |
| $6.846.84 USDC | 0x2c31…c67f | |
| $2.0K2.04K USDC | 0xdba2…d470 | |
| $12.2812.28 USDC | 0x92d3…3baf | |
| $47.5847.60 USDC | 0x79a3…9767 |
About the cbADA / USDC market
The cbADA / USDC market on Base was created on January 15, 2026. Anyone can lend USDC into it, and anyone holding cbADA can borrow that USDC against it, up to a loan-to-value of 62.5% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds. Public on-chain data shows this is the market behind Coinbase's Cardano loans.
Right now $2.67M is supplied and $2.27M borrowed, so 85.0% of the market is in use, backed by $5.83M of cbADA from 787 borrowers. Borrowers pay 6.71% a year, 7.31% on average over the last 30 days. Lenders earn 5.68%.
7 listed vaults lend here, providing $2.14M of the supply; the largest are Steakhouse High Yield USDC, Clearstar cbAssets Vault and Gauntlet USDC Frontier. Liquidators who close an unsafe loan here receive a 12.68% bonus in cbADA. If cbADA fell 20% against USDC, about $1.11M of collateral would be at risk of liquidation. 107 loans were liquidated here in the last 30 days.
cbADA / USDC (62.5% LLTV) on Base: quick answers
What is the USDC borrow rate against cbADA on Morpho Base?
In this market it is 6.71% a year right now, and it averaged 7.31% over the last 30 days. The rate is variable: it follows how much of the market's USDC is borrowed, rising quickly above 90%.
When are cbADA / USDC loans liquidated?
When a loan reaches 62.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes cbADA worth 12.68% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if cbADA fell to about 0.137 USDC.
How much USDC can be borrowed here right now?
$400K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the cbADA / USDC market?
Lenders earn 5.68% a year right now (6.54% averaged over 30 days). Most lend through vaults, such as Steakhouse High Yield USDC, Clearstar cbAssets Vault and Gauntlet USDC Frontier, which spread deposits across several markets.
Other cbADA / USDC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| cbADA / USDCBase · LLTV 77% | 2.28% | 2.54% |
