cbBTC / VCHF on Base
A Morpho market on Base where people borrow VCHF against cbBTC. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 0.97% a year and borrowers pay 1.09% right now.
Data from Morpho's API · updated
Borrow APY
1.09%
30-day average 1.24%
Supply APY
0.97%
30-day average 1.12%
Supplied
$22.7K
18.48K VCHF
Borrowed
$20.2K
89.1% utilization
Available to borrow
$2.5K
free liquidity right now
Collateral posted
$37.4K
0.446 cbBTC
cbBTC / VCHF rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
cbBTC / VCHF 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 1.10% 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 VCHF. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 77%fixed for the life of the market |
|---|---|
| Liquidation bonus | 7.41%extra collateral a liquidator receives |
| cbBTC price in VCHF | 68.30K VCHF |
| Oracle | ChainlinkOracleV20x71C8…8Aed |
| Price feeds | 0x64c9…848F 0x3A1d…252F |
| Market fee | Noneshare of interest taken by the protocol |
| Pre-liquidation | Availableborrowers can opt in to gentler, earlier liquidations from 72.74% LTV |
Details
| Loan asset | VCHFprice $1.2290 |
|---|---|
| Collateral | cbBTCprice $83.9K |
| Borrow APY, last year | 0.53% |
| Borrowers | 8 |
| Created | September 17, 2025 |
| Market ID | 0xcf564345…5116c1 |
| Rate model | 0x4641…2687 |
| cbBTC token | 0xcbB7…33Bf |
| VCHF token | 0x1fcA…d5D8 |
Vaults lending here
$22.7K of the $22.7K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Apostro VNX Swiss Franc VCHFlends directly | $22.7K |
Largest borrowers
8 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x87aC…AE0C | $10.2K | 1.46 |
| 0x5EC6…82De | $8.2K | 1.31 |
| 0x0221…8666 | $786 | 1.61 |
| 0x57EF…fB28 | $596 | 2.31 |
| 0x87B9…6a26 | $411 | 2.13 |
| 0xB771…B7f9 | $117 | 2.88 |
| 0xa626…18A1 | $0 | 5.23 |
| 0x4ecA…Feb9 | $0 | 6.57 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
None recorded in the last 90 days
About the cbBTC / VCHF market
The cbBTC / VCHF market on Base was created on September 17, 2025. Anyone can lend VCHF into it, and anyone holding cbBTC can borrow that VCHF against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $22.7K is supplied and $20.2K borrowed, so 89.1% of the market is in use, backed by $37.4K of cbBTC from 8 borrowers. Borrowers pay 1.09% a year, 1.24% on average over the last 30 days and 0.53% over the last year. Lenders earn 0.97%.
1 listed vault lends here, providing $22.7K of the supply; the largest is Apostro VNX Swiss Franc VCHF. Liquidators who close an unsafe loan here receive a 7.41% bonus in cbBTC.
cbBTC / VCHF on Base: quick answers
What is the VCHF borrow rate against cbBTC on Morpho Base?
In this market it is 1.09% a year right now, and it averaged 1.24% over the last 30 days. The rate is variable: it follows how much of the market's VCHF is borrowed, rising quickly above 90%.
When is a cbBTC / VCHF loan liquidated?
When the loan reaches 77% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes cbBTC worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if cbBTC fell to about 44.35K VCHF.
How much VCHF can be borrowed here right now?
$2.5K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the cbBTC / VCHF market?
Lenders earn 0.97% a year right now (1.12% averaged over 30 days). Most lend through vaults, such as Apostro VNX Swiss Franc VCHF, which spread deposits across several markets.
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 / EURCBase · LLTV 86% | 2.43% | 3.03% |
