mBASIS / USDC on Base
A Morpho market on Base where people borrow USDC against mBASIS. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 6.55% a year and borrowers pay 8.16% right now.
Data from Morpho's API · updated
Borrow APY
8.16%
30-day average 9.95%
Supply APY
6.55%
30-day average 8.82%
Supplied
$20.4K
20.40K USDC
Borrowed
$16.5K
80.9% utilization
Available to borrow
$3.9K
up to $3.9K with vault liquidity
Collateral posted
$24.2K
19.74K mBASIS
mBASIS / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
mBASIS / 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 8.86% 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 mBASIS collateral could be liquidated if its price fell by each amount
Based on today's loans and today's mBASIS price in USDC. 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 |
| mBASIS price in USDC | 1.23 USDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20xc8b7…3bc9 |
| Price feeds | 0x6d62…23b6 0x7e86…bc6B |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | mBASISprice $1.2260 |
| Borrow APY, last year | 12.21% |
| Borrowers | 139 |
| Created | November 15, 2024 |
| Market ID | 0x45f3b568…3611f8 |
| Rate model | 0x4641…2687 |
| mBASIS token | 0x1C27…92b2 |
| USDC token | 0x8335…2913 |
Vaults lending here
$17.9K of the $20.4K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Yield Clearstar USDClends directly | $17.9K |
Largest borrowers
139 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xCdDc…7b2d | $1.1K | 1.22 |
| 0xd8B1…c6F8 | $1.0K | 1.03 |
| 0x0c38…95c7 | $1.0K | 1.09 |
| 0xC487…7317 | $948 | 1.21 |
| 0x847B…1207 | $830 | 1.22 |
| 0x51E5…6829 | $824 | 1.28 |
| 0x8Aff…8443 | $639 | 1.12 |
| 0x7349…0814 | $556 | 1.27 |
| 0x5EE2…E290 | $525 | 1.24 |
| 0x078b…B9c9 | $437 | 1.02 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
16 in the last 30 days, $1.7K of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $26.6926.70 USDC | 0x23a2…4fd2 | |
| $118117.53 USDC | 0x0095…374f | |
| $66.9967.00 USDC | 0xb96c…a097 | |
| $1.221.22 USDC | 0x8c04…8109 | |
| $404404.50 USDC | 0x03cf…2e40 | |
| $82.8382.84 USDC | 0x2441…3b39 | |
| $61.9761.97 USDC | 0xa20b…3d99 | |
| $1.351.35 USDC | 0x33d6…776f | |
| $104104.43 USDC | 0xdd47…b771 | |
| $76.3276.32 USDC | 0x6257…749c |
About the mBASIS / USDC market
The mBASIS / USDC market on Base was created on November 15, 2024. Anyone can lend USDC into it, and anyone holding mBASIS can borrow that USDC against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $20.4K is supplied and $16.5K borrowed, so 80.9% of the market is in use, backed by $24.2K of mBASIS from 139 borrowers. Borrowers pay 8.16% a year, 9.95% on average over the last 30 days and 12.21% over the last year. Lenders earn 6.55%.
1 listed vault lends here, providing $17.9K of the supply; the largest is Yield Clearstar USDC. Liquidators who close an unsafe loan here receive a 4.38% bonus in mBASIS. If mBASIS fell 20% against USDC, about $13.5K of collateral would be at risk of liquidation. 16 loans were liquidated here in the last 30 days.
mBASIS / USDC on Base: quick answers
What is the USDC borrow rate against mBASIS on Morpho Base?
In this market it is 8.16% a year right now, and it averaged 9.95% 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 mBASIS / USDC 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 mBASIS worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if mBASIS fell to about 0.713 USDC.
How much USDC can be borrowed here right now?
$3.9K is free in the market, and vaults can move in up to $4.56 more through Morpho's public allocator, for about $3.9K in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the mBASIS / USDC market?
Lenders earn 6.55% a year right now (8.82% averaged over 30 days). Most lend through vaults, such as Yield Clearstar USDC, which spread deposits across several markets.