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 6.88% a year and borrowers pay 7.34% right now.
Data from Morpho's API · updated
Borrow APY
7.34%
30-day average 4.21%
Supply APY
6.88%
30-day average 3.59%
Supplied
$164K
148.48K EURC
Borrowed
$154K
94.0% utilization
Available to borrow
$9.9K
up to $321K with vault liquidity
Collateral posted
$412K
178.69 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 3.29% 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 | 2.09K EURCthe market's oracle, which liquidations follow |
| 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 $1.1047 |
|---|---|
| Collateral | cbETHprice $2.3K |
| Borrow APY, last year | 2.63% |
| Borrowers | 42 |
| Created | September 10, 2024 |
| Market ID | 0x7fc498dd…64929a |
| Rate model | 0x4641…2687 |
| cbETH token | 0x2Ae3…Ec22 |
| EURC token | 0x60a3…db42 |
Vaults lending here
$111K of the $164K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Moonwell Flagship EURClends directly | $71.5K |
| Gauntlet EURC BalancedV2lends directly | $21.1K |
| Steakhouse Prime EURCV2lends directly | $16.7K |
| Steakhouse EURClends directly | $1.8K |
Largest borrowers
42 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x3ab4…2c90 | $66.7K | 2.79 |
| 0x1855…D124 | $33.5K | 1.31 |
| 0x1574…3006 | $30.7K | 1.35 |
| 0x7A80…475B | $21.3K | 1.36 |
| 0x4029…1333 | $6.8K | 8.43 |
| 0xC2A3…775B | $4.8K | 1.69 |
| 0xC266…B71c | $3.7K | 2.58 |
| 0x2DE7…6377 | $2.4K | 1.52 |
| 0xf13F…ADea | $2.2K | 1.19 |
| 0x2d24…0Fb8 | $1.7K | 1.18 |
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, $339 of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $339304.88 EURC | 0x1265…2ef7 |
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 $164K is supplied and $154K borrowed, so 94.0% of the market is in use, backed by $412K of cbETH from 42 borrowers. Borrowers pay 7.34% a year, 4.21% on average over the last 30 days and 2.63% over the last year. Lenders earn 6.88%.
4 listed vaults lend here, providing $111K of the supply; the largest are Moonwell Flagship EURC, Gauntlet EURC Balanced and Steakhouse Prime EURC. Liquidators who close an unsafe loan here receive a 4.38% bonus in cbETH. If cbETH fell 20% against EURC, about $5.5K of collateral would be at risk of liquidation. 1 loan was liquidated here in the last 30 days.
cbETH / EURC on Base: quick answers
What is the EURC borrow rate against cbETH on Morpho Base?
In this market it is 7.34% a year right now, and it averaged 4.21% 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 are cbETH / EURC loans liquidated?
When a 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 1.21K EURC.
How much EURC can be borrowed here right now?
$9.9K is free in the market, and vaults can move in up to $311K more through Morpho's public allocator, for about $321K 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 6.88% a year right now (3.59% averaged over 30 days). Most lend through vaults, such as Moonwell Flagship EURC, Gauntlet EURC Balanced and Steakhouse Prime 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% | 4.53% | 5.36% |
| cbETH / WETHBase · LLTV 94.5% | 1.57% | 1.75% |
| cbETH / USDCBase · LLTV 86% | 4.52% | 5.29% |
| cbETH / USDCBase · LLTV 86% | 3.17% | 3.61% |
| cbETH / VCHFBase · LLTV 77% | 0.54% | 0.70% |
| cbETH / WETHBase · LLTV 96.5% | 1.61% | 1.79% |
