cbBTC / XSGD on Base
A Morpho market on Base where people borrow XSGD against cbBTC. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 0.63% a year and borrowers pay 0.75% right now.
Data from Morpho's API · updated
Borrow APY
0.75%
30-day average 0.98%
Supply APY
0.63%
30-day average 0.83%
Supplied
$145K
185.42K XSGD
Borrowed
$121K
83.2% utilization
Available to borrow
$24.4K
free liquidity right now
Collateral posted
$183K
2.18 cbBTC
cbBTC / XSGD rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
cbBTC / XSGD 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 0.79% 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 XSGD. 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 XSGD | 107.31K XSGD |
| Oracle | Unknown0x14a8…292d |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | XSGDprice $0.7823 |
|---|---|
| Collateral | cbBTCprice $83.9K |
| Borrowers | 17 |
| Created | November 18, 2025 |
| Market ID | 0xd5d7156a…8d3b27 |
| Rate model | 0x4641…2687 |
| cbBTC token | 0xcbB7…33Bf |
| XSGD token | 0x0A4C…C33b |
Vaults lending here
$145K of the $145K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Steakhouse Prime XSGDV2lends directly | $145K |
Largest borrowers
17 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x5EC6…82De | $78.6K | 1.26 |
| 0xE708…E7F7 | $16.9K | 1.09 |
| 0x87aC…AE0C | $14.7K | 1.41 |
| 0x658D…B93a | $5.5K | 1.17 |
| 0x52f6…514f | $1.6K | 1.87 |
| 0xA66f…423A | $1.0K | 1.81 |
| 0x57c1…1A87 | $941 | 4.96 |
| 0xbD35…C9e9 | $418 | 1.59 |
| 0xe205…5857 | $391 | 1.60 |
| 0x1Acd…F657 | $220 | 2.17 |
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 / XSGD market
The cbBTC / XSGD market on Base was created on November 18, 2025. Anyone can lend XSGD into it, and anyone holding cbBTC can borrow that XSGD against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from a custom oracle; check its source before borrowing or lending.
Right now $145K is supplied and $121K borrowed, so 83.2% of the market is in use, backed by $183K of cbBTC from 17 borrowers. Borrowers pay 0.75% a year, 0.98% on average over the last 30 days. Lenders earn 0.63%.
1 listed vault lends here, providing $145K of the supply; the largest is Steakhouse Prime XSGD. Liquidators who close an unsafe loan here receive a 4.38% bonus in cbBTC. If cbBTC fell 20% against XSGD, about $29.0K of collateral would be at risk of liquidation.
cbBTC / XSGD on Base: quick answers
What is the XSGD borrow rate against cbBTC on Morpho Base?
In this market it is 0.75% a year right now, and it averaged 0.98% over the last 30 days. The rate is variable: it follows how much of the market's XSGD is borrowed, rising quickly above 90%.
When is a cbBTC / XSGD 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 62.39K XSGD.
How much XSGD can be borrowed here right now?
$24.4K 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 / XSGD market?
Lenders earn 0.63% a year right now (0.83% averaged over 30 days). Most lend through vaults, such as Steakhouse Prime XSGD, 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% |
