cbETH / VCHF on Base
A Morpho market on Base where people borrow VCHF against cbETH. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 0.54% a year and borrowers pay 0.70% right now.
Data from Morpho's API · updated
Borrow APY
0.70%
30-day average 1.10%
Supply APY
0.54%
30-day average 0.95%
Supplied
$217K
180.52K VCHF
Borrowed
$165K
76.2% utilization
Available to borrow
$51.7K
free liquidity right now
Collateral posted
$299K
129.73 cbETH
cbETH / VCHF rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
cbETH / 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 0.80% 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 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 |
| cbETH price in VCHF | 1.92K VCHFthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x261E…8053 |
| Price feeds | 0x806b…440b 0x7104…Bb70 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 $1.2003 |
|---|---|
| Collateral | cbETHprice $2.3K |
| Borrow APY, last year | 0.42% |
| Borrowers | 9 |
| Created | September 17, 2025 |
| Market ID | 0x576db1fa…459157 |
| Rate model | 0x4641…2687 |
| cbETH token | 0x2Ae3…Ec22 |
| VCHF token | 0x1fcA…d5D8 |
Vaults lending here
$217K of the $217K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Apostro VNX Swiss Franc VCHFlends directly | $217K |
Largest borrowers
9 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xe044…59b5 | $141K | 1.33 |
| 0x1D75…b806 | $19.6K | 1.90 |
| 0x2d1D…2A69 | $5.5K | 3.06 |
| 0x87aC…AE0C | $1.1K | 1.24 |
| 0x4851…5C8b | $4.00 | 1.09 |
| 0x8B28…25d4 | $4.00 | 1.48 |
| 0xDE56…6a2E | $0 | 12.39 |
| 0x80Be…2D6b | $0 | >99 |
| 0x4ecA…Feb9 | $0 | >99 |
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 / VCHF market
The cbETH / VCHF market on Base was created on September 17, 2025. Anyone can lend VCHF into it, and anyone holding cbETH 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 $217K is supplied and $165K borrowed, so 76.2% of the market is in use, backed by $299K of cbETH from 9 borrowers. Borrowers pay 0.70% a year, 1.10% on average over the last 30 days and 0.42% over the last year. Lenders earn 0.54%.
1 listed vault lends here, providing $217K of the supply; the largest is Apostro VNX Swiss Franc VCHF. Liquidators who close an unsafe loan here receive a 7.41% bonus in cbETH. If cbETH fell 20% against VCHF, about $6.00 of collateral would be at risk of liquidation.
cbETH / VCHF on Base: quick answers
What is the VCHF borrow rate against cbETH on Morpho Base?
In this market it is 0.70% a year right now, and it averaged 1.10% 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 are cbETH / VCHF loans liquidated?
When a loan reaches 77% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes cbETH worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if cbETH fell to about 1.25K VCHF.
How much VCHF can be borrowed here right now?
$51.7K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the cbETH / VCHF market?
Lenders earn 0.54% a year right now (0.95% 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 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 / EURCBase · LLTV 86% | 6.88% | 7.34% |
| cbETH / WETHBase · LLTV 96.5% | 1.61% | 1.79% |
