cbETH / EURC on Base
A Morpho market on Base where people borrow EURC against cbETH. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 2.61% a year and borrowers pay 3.09% right now.
Data from Morpho's API · updated
Borrow APY
3.09%
30-day average 3.65%
Supply APY
2.61%
30-day average 3.08%
Supplied
$204K
179.19K EURC
Borrowed
$173K
84.8% utilization
Available to borrow
$31.0K
up to $210K with vault liquidity
Collateral posted
$678K
221.71 cbETH
cbETH / EURC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
cbETH / 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 3.23% 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 cbETH collateral could be liquidated if its price fell by each amount
Based on today's loans and today's cbETH 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 |
| cbETH price in EURC | 2.69K EURC |
| Oracle | ChainlinkOracleV20x8C87…fE2F |
| Price feeds | 0x806b…440b 0x7104…Bb70 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 | cbETHprice $3.1K |
| Borrow APY, last year | 2.53% |
| Borrowers | 39 |
| Created | September 10, 2024 |
| Market ID | 0x7fc498dd…64929a |
| Rate model | 0x4641…2687 |
| cbETH token | 0x2Ae3…Ec22 |
| EURC token | 0x60a3…db42 |
Vaults lending here
$153K of the $204K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Moonwell Flagship EURClends directly | $73.3K |
| Steakhouse Prime EURCV2lends directly | $59.4K |
| Steakhouse EURClends directly | $20.3K |
| Gauntlet EURC BalancedV2lends directly | $1.00 |
Largest borrowers
39 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x3ab4…2c90 | $67.6K | 3.57 |
| 0x1855…D124 | $34.5K | 1.60 |
| 0x1574…3006 | $31.1K | 1.73 |
| 0x4029…1333 | $27.3K | 7.54 |
| 0xC266…B71c | $3.7K | 3.30 |
| 0x2DE7…6377 | $2.8K | 1.67 |
| 0x2d24…0Fb8 | $2.0K | 1.30 |
| 0x9272…CEFB | $1.7K | 2.39 |
| 0xA635…88ee | $650 | 1.83 |
| 0x959B…20C6 | $579 | 1.19 |
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 cbETH / EURC market
The cbETH / EURC market on Base was created on September 10, 2024. Anyone can lend EURC into it, and anyone holding cbETH 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 $204K is supplied and $173K borrowed, so 84.8% of the market is in use, backed by $678K of cbETH from 39 borrowers. Borrowers pay 3.09% a year, 3.65% on average over the last 30 days and 2.53% over the last year. Lenders earn 2.61%.
4 listed vaults lend here, providing $153K of the supply; the largest are Moonwell Flagship EURC, Steakhouse Prime EURC and Steakhouse EURC. Liquidators who close an unsafe loan here receive a 4.38% bonus in cbETH. If cbETH fell 20% against EURC, about $805 of collateral would be at risk of liquidation.
cbETH / EURC on Base: quick answers
What is the EURC borrow rate against cbETH on Morpho Base?
In this market it is 3.09% a year right now, and it averaged 3.65% 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 cbETH / 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 cbETH worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if cbETH fell to about 1.56K EURC.
How much EURC can be borrowed here right now?
$31.0K is free in the market, and vaults can move in up to $179K more through Morpho's public allocator, for about $210K in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the cbETH / EURC market?
Lenders earn 2.61% a year right now (3.08% averaged over 30 days). Most lend through vaults, such as Moonwell Flagship EURC, Steakhouse Prime EURC and Steakhouse EURC, which spread deposits across several markets.
More ways to borrow against cbETH
Other loan assets with cbETH as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| cbETH / USDCBase · LLTV 77% | 4.31% | 4.83% |
| cbETH / WETHBase · LLTV 94.5% | 1.49% | 1.66% |
| cbETH / USDCBase · LLTV 86% | 4.39% | 4.89% |
| cbETH / USDCBase · LLTV 86% | 3.71% | 4.17% |
| cbETH / VCHFBase · LLTV 77% | 0.49% | 0.49% |
| cbETH / WETHBase · LLTV 96.5% | 1.65% | 1.83% |
