cbHYPE / USDC on Base
A Morpho market on Base where people borrow USDC against cbHYPE. A loan can be liquidated once it reaches 62.5% of the collateral's value. Lenders earn 5.31% a year and borrowers pay 5.91% right now.
Data from Morpho's API · updated
Borrow APY
5.91%
30-day average 6.62%
Supply APY
5.31%
30-day average 5.89%
Supplied
$819K
819.09K USDC
Borrowed
$738K
90.2% utilization
Available to borrow
$80.4K
up to $312K with vault liquidity
Collateral posted
$1.80M
25.41K cbHYPE
cbHYPE / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
cbHYPE / USDC 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 5.59% 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 cbHYPE collateral could be liquidated if its price fell by each amount
Based on today's loans and today's cbHYPE price in USDC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 62.5%fixed for the life of the market |
|---|---|
| Liquidation bonus | 12.68%extra collateral a liquidator receives |
| cbHYPE price in USDC | 70.99 USDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x7FaD…4bFf |
| Price feeds | 0xAdB5…8e63 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | cbHYPEprice $70.64 |
| Borrowers | 324 |
| Created | September 8, 2026 |
| Market ID | 0x76629002…b4c0a8 |
| Rate model | 0x4641…2687 |
| cbHYPE token | 0xB200…479e |
| USDC token | 0x8335…2913 |
Vaults lending here
$788K of the $819K supplied comes from these vaults
Largest borrowers
324 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x389d…493A | $61.6K | 1.98 |
| 0xd14d…79E7 | $59.7K | 1.44 |
| 0x0f0f…2402 | $51.7K | 1.50 |
| 0x452f…3f37 | $35.7K | 1.26 |
| 0xD5Ad…C64c | $30.6K | 1.64 |
| 0xCDc3…03e2 | $28.4K | 1.65 |
| 0x0B0D…845f | $25.5K | 1.76 |
| 0x27Cd…10e5 | $17.5K | 1.40 |
| 0x7946…9a18 | $17.1K | 1.28 |
| 0x8A0B…4E39 | $16.2K | 1.13 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
29 in the last 30 days, $27.7K of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $14.6314.64 USDC | 0xca97…2252 | |
| $437437.17 USDC | 0x5612…8ec3 | |
| $180180.29 USDC | 0xbe81…9c93 | |
| $187186.62 USDC | 0x728e…0026 | |
| $4.884.88 USDC | 0x30a4…75fa | |
| $7.017.01 USDC | 0x5f3f…3d71 | |
| $152152.01 USDC | 0x4c93…fa15 | |
| $175175.33 USDC | 0x96ac…bcbb | |
| $279279.26 USDC | 0x96ac…bcbb | |
| $20.5220.52 USDC | 0x96ac…bcbb |
About the cbHYPE / USDC market
The cbHYPE / USDC market on Base was created on September 8, 2026. Anyone can lend USDC into it, and anyone holding cbHYPE can borrow that USDC against it, up to a loan-to-value of 62.5% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $819K is supplied and $738K borrowed, so 90.2% of the market is in use, backed by $1.80M of cbHYPE from 324 borrowers. Borrowers pay 5.91% a year, 6.62% on average over the last 30 days. Lenders earn 5.31%.
5 listed vaults lend here, providing $788K of the supply; the largest are Clearstar cbAssets Vault, Steakhouse High Yield USDC Edition and Gauntlet USDC Frontier. Liquidators who close an unsafe loan here receive a 12.68% bonus in cbHYPE. If cbHYPE fell 20% against USDC, about $185K of collateral would be at risk of liquidation. 29 loans were liquidated here in the last 30 days.
cbHYPE / USDC on Base: quick answers
What is the USDC borrow rate against cbHYPE on Morpho Base?
In this market it is 5.91% a year right now, and it averaged 6.62% over the last 30 days. The rate is variable: it follows how much of the market's USDC is borrowed, rising quickly above 90%.
When are cbHYPE / USDC loans liquidated?
When a loan reaches 62.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes cbHYPE worth 12.68% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if cbHYPE fell to about 56.79 USDC.
How much USDC can be borrowed here right now?
$80.4K is free in the market, and vaults can move in up to $232K more through Morpho's public allocator, for about $312K in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the cbHYPE / USDC market?
Lenders earn 5.31% a year right now (5.89% averaged over 30 days). Most lend through vaults, such as Clearstar cbAssets Vault, Steakhouse High Yield USDC Edition and Gauntlet USDC Frontier, which spread deposits across several markets.