LBTC / cbBTC on Base
A Morpho market on Base where people borrow cbBTC against LBTC. A loan can be liquidated once it reaches 94.5% of the collateral's value. Lenders earn 1.05% a year and borrowers pay 1.07% right now.
Data from Morpho's API · updated
Borrow APY
1.07%
30-day average 0.30%
Supply APY
1.05%
30-day average 0.29%
Supplied
$344K
4.10 cbBTC
Borrowed
$336K
97.6% utilization
Available to borrow
$8.2K
free liquidity right now
Collateral posted
$424K
5.04 LBTC
LBTC / cbBTC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
LBTC / cbBTC 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 0.34% 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 LBTC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's LBTC price in cbBTC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 94.5%fixed for the life of the market |
|---|---|
| Liquidation bonus | 1.68%extra collateral a liquidator receives |
| LBTC price in cbBTC | 1.00 cbBTC |
| Oracle | ChainlinkOracleV20x9Ae0…D0EA |
| Price feeds | 0x5C4c…e48f |
| Market fee | Noneshare of interest taken by the protocol |
| Pre-liquidation | Availableborrowers can opt in to gentler, earlier liquidations from 93.37% LTV |
Details
| Loan asset | cbBTCprice $83.9K |
|---|---|
| Collateral | LBTCprice $84.2K |
| Borrow APY, last year | 0.20% |
| Borrowers | 92 |
| Created | November 19, 2024 |
| Market ID | 0x30767836…79a8d7 |
| Rate model | 0x4641…2687 |
| LBTC token | 0xecAc…11c1 |
| cbBTC token | 0xcbB7…33Bf |
Vaults lending here
$226K of the $344K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Gauntlet cbBTC Corelends directly | $226K |
Largest borrowers
92 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x2935…9f13 | $68.1K | 1.17 |
| 0xCB65…D6c1 | $58.7K | 1.05 |
| 0xeABe…0eF5 | $52.3K | 1.63 |
| 0xeA6A…a2fD | $41.9K | 1.05 |
| 0x5be7…0d5d | $26.1K | 1.10 |
| 0xDa93…F367 | $20.8K | 1.11 |
| 0x499B…4194 | $9.7K | 1.10 |
| 0xc4d3…EEb7 | $9.0K | 1.05 |
| 0xf27f…55De | $8.4K | 1.17 |
| 0x4526…4Ff8 | $8.1K | 1.05 |
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 LBTC / cbBTC market
The LBTC / cbBTC market on Base was created on November 19, 2024. Anyone can lend cbBTC into it, and anyone holding LBTC can borrow that cbBTC against it, up to a loan-to-value of 94.5% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $344K is supplied and $336K borrowed, so 97.6% of the market is in use, backed by $424K of LBTC from 92 borrowers. Borrowers pay 1.07% a year, 0.30% on average over the last 30 days and 0.20% over the last year. Lenders earn 1.05%.
1 listed vault lends here, providing $226K of the supply; the largest is Gauntlet cbBTC Core. Liquidators who close an unsafe loan here receive a 1.68% bonus in LBTC. If LBTC fell 20% against cbBTC, about $330K of collateral would be at risk of liquidation.
LBTC / cbBTC 94.5% on Base: quick answers
What is the cbBTC borrow rate against LBTC on Morpho Base?
In this market it is 1.07% a year right now, and it averaged 0.30% over the last 30 days. The rate is variable: it follows how much of the market's cbBTC is borrowed, rising quickly above 90%.
When is a LBTC / cbBTC loan liquidated?
When the loan reaches 94.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes LBTC worth 1.68% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if LBTC fell to about 0.531 cbBTC.
How much cbBTC can be borrowed here right now?
$8.2K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the LBTC / cbBTC market?
Lenders earn 1.05% a year right now (0.29% averaged over 30 days). Most lend through vaults, such as Gauntlet cbBTC Core, which spread deposits across several markets.
Other LBTC / cbBTC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| LBTC / cbBTCBase · LLTV 91.5% | 0.04% | 0.07% |
More ways to borrow against LBTC
Other loan assets with LBTC as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| LBTC / USDCEthereum · LLTV 86% | 4.92% | 6.04% |
| LBTC / EURCVEthereum · LLTV 86% | 1.82% | 3.86% |
| LBTC / USDCBase · LLTV 86% | 4.25% | 4.87% |
| LBTC / vbUSDCKatana · LLTV 86% | 0.03%+6.90% rewards | 0.20% |
| LBTC / WBTCEthereum · LLTV 86% | 0.00% | 0.53% |
| LBTC / PYUSDEthereum · LLTV 86% | 6.03% | 7.24% |
