cbBTC / EURC on Base
A Morpho market on Base where people borrow EURC against cbBTC. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 2.43% a year and borrowers pay 3.03% right now.
Data from Morpho's API · updated
Borrow APY
3.03%
30-day average 3.70%
Supply APY
2.43%
30-day average 3.14%
Supplied
$4.40M
3.86M EURC
Borrowed
$3.53M
80.3% utilization
Available to borrow
$867K
up to $1.06M with vault liquidity
Collateral posted
$7.84M
93.34 cbBTC
cbBTC / EURC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
cbBTC / EURC 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 3.30% 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 cbBTC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's cbBTC price in EURC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 86%fixed for the life of the market |
|---|---|
| Liquidation bonus | 4.38%extra collateral a liquidator receives |
| cbBTC price in EURC | 73.73K EURC |
| Oracle | ChainlinkOracleV20xA857…d799 |
| Price feeds | 0x64c9…848F 0xc91D…3F0F |
| Market fee | Noneshare of interest taken by the protocol |
| Pre-liquidation | Availableborrowers can opt in to gentler, earlier liquidations from 83.26% LTV |
Details
| Loan asset | EURCprice $1.1385 |
|---|---|
| Collateral | cbBTCprice $83.9K |
| Borrow APY, last year | 2.62% |
| Borrowers | 163 |
| Created | September 15, 2024 |
| Market ID | 0x67ebd84b…5f049e |
| Rate model | 0x4641…2687 |
| cbBTC token | 0xcbB7…33Bf |
| EURC token | 0x60a3…db42 |
Vaults lending here
$4.18M of the $4.40M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Steakhouse Prime EURCV2lends directly | $2.96M |
| Steakhouse EURClends directly | $594K |
| Gauntlet EURC BalancedV2lends directly | $588K |
| Moonwell Flagship EURClends directly | $34.5K |
Largest borrowers
163 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x2e11…252a | $1.23M | 1.82 |
| 0x8e3a…92d0 | $315K | 1.40 |
| 0x93C2…88c6 | $262K | 2.36 |
| 0x523E…e830 | $164K | 2.12 |
| 0xd3de…ae6b | $148K | 1.86 |
| 0x29AF…62Ee | $146K | 1.40 |
| 0xA933…9132 | $121K | 1.50 |
| 0x2eb8…e298 | $105K | 1.76 |
| 0x1855…D124 | $97.4K | 1.64 |
| 0x8832…63EB | $81.8K | 2.00 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
1 in the last 30 days, $2.1K of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $2.1K1.88K EURC | 0x4218…f82a | |
| $6.2K5.45K EURC | 0x4e36…5e65 | |
| $239209.76 EURC | 0x38b6…9088 |
About the cbBTC / EURC market
The cbBTC / EURC market on Base was created on September 15, 2024. Anyone can lend EURC into it, and anyone holding cbBTC can borrow that EURC against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $4.40M is supplied and $3.53M borrowed, so 80.3% of the market is in use, backed by $7.84M of cbBTC from 163 borrowers. Borrowers pay 3.03% a year, 3.70% on average over the last 30 days and 2.62% over the last year. Lenders earn 2.43%.
4 listed vaults lend here, providing $4.18M of the supply; the largest are Steakhouse Prime EURC, Steakhouse EURC and Gauntlet EURC Balanced. Liquidators who close an unsafe loan here receive a 4.38% bonus in cbBTC. If cbBTC fell 20% against EURC, about $24.7K of collateral would be at risk of liquidation. 1 loan was liquidated here in the last 30 days.
cbBTC / EURC on Base: quick answers
What is the EURC borrow rate against cbBTC on Morpho Base?
In this market it is 3.03% a year right now, and it averaged 3.70% over the last 30 days. The rate is variable: it follows how much of the market's EURC is borrowed, rising quickly above 90%.
When is a cbBTC / EURC loan liquidated?
When the loan reaches 86% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes cbBTC worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if cbBTC fell to about 42.87K EURC.
How much EURC can be borrowed here right now?
$867K is free in the market, and vaults can move in up to $196K more through Morpho's public allocator, for about $1.06M in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the cbBTC / EURC market?
Lenders earn 2.43% a year right now (3.14% averaged over 30 days). Most lend through vaults, such as Steakhouse Prime EURC, Steakhouse EURC and Gauntlet EURC Balanced, which spread deposits across several markets.
Other cbBTC / EURC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| cbBTC / EURCEthereum · LLTV 86% | 2.41% | 3.10% |
More ways to borrow against cbBTC
Other loan assets with cbBTC as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| cbBTC / USDCBase · LLTV 86% | 4.31% | 4.80% |
| cbBTC / USDCEthereum · LLTV 86% | 4.50% | 5.00% |
| cbBTC / USDTEthereum · LLTV 86% | 4.45% | 4.90% |
| cbBTC / EURCVEthereum · LLTV 86% | 1.88% | 2.09% |
| cbBTC / RLUSDEthereum · LLTV 86% | 3.51% | 3.91% |
| cbBTC / USDSEthereum · LLTV 86% | 2.66% | 2.96% |
