mGLO / USDC on Base
A Morpho market on Base where people borrow USDC against mGLO. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 4.99% a year and borrowers pay 5.55% right now.
Data from Morpho's API · updated
Borrow APY
5.55%
30-day average 5.57%
Supply APY
4.99%
30-day average 5.00%
Supplied
$24.35M
24.35M USDC
Borrowed
$21.92M
90.0% utilization
Available to borrow
$2.43M
up to $2.68M with vault liquidity
Collateral posted
$26.64M
26.49M mGLO
mGLO / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
mGLO / 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 5.54% 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 mGLO collateral could be liquidated if its price fell by each amount
Based on today's loans and today's mGLO price in USDC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 91.5%fixed for the life of the market |
|---|---|
| Liquidation bonus | 2.62%extra collateral a liquidator receives |
| mGLO price in USDC | 1.01 USDC |
| Oracle | ChainlinkOracleV20x182e…A109 |
| Price feeds | 0x3732…f29E |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9999 |
|---|---|
| Collateral | mGLOprice $1.0058 |
| Borrowers | 8 |
| Created | June 17, 2026 |
| Market ID | 0x29ae7ac0…752d0b |
| Rate model | 0x4641…2687 |
| mGLO token | 0xFCc9…2584 |
| USDC token | 0x8335…2913 |
Vaults lending here
$24.28M of the $24.35M supplied comes from these vaults
Largest borrowers
8 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x2E3d…90e5 | $12.44M | 1.03 |
| 0x2747…4940 | $5.06M | 1.06 |
| 0xfAA7…83a0 | $3.32M | 1.07 |
| 0xBaef…Ae6c | $752K | 1.04 |
| 0x9137…615a | $149K | 1.05 |
| 0x882C…EDb7 | $108K | 1.05 |
| 0xD36f…B621 | $92.1K | 1.16 |
| 0xfeed…3C9a | $1.00 | 3.75 |
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 mGLO / USDC market
The mGLO / USDC market on Base was created on June 17, 2026. Anyone can lend USDC into it, and anyone holding mGLO can borrow that USDC against it, up to a loan-to-value of 91.5% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $24.35M is supplied and $21.92M borrowed, so 90.0% of the market is in use, backed by $26.64M of mGLO from 8 borrowers. Borrowers pay 5.55% a year, 5.57% on average over the last 30 days. Lenders earn 4.99%.
5 listed vaults lend here, providing $24.28M of the supply; the largest are Steakhouse High Yield USDC Edition, Clearstar USDC Reactor and Steakhouse High Yield USDC. Liquidators who close an unsafe loan here receive a 2.62% bonus in mGLO. If mGLO fell 20% against USDC, about $26.64M of collateral would be at risk of liquidation.
mGLO / USDC on Base: quick answers
What is the USDC borrow rate against mGLO on Morpho Base?
In this market it is 5.55% a year right now, and it averaged 5.57% 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 is a mGLO / USDC loan liquidated?
When the loan reaches 91.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes mGLO worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if mGLO fell to about 0.550 USDC.
How much USDC can be borrowed here right now?
$2.43M is free in the market, and vaults can move in up to $246K more through Morpho's public allocator, for about $2.68M in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the mGLO / USDC market?
Lenders earn 4.99% a year right now (5.00% averaged over 30 days). Most lend through vaults, such as Steakhouse High Yield USDC Edition, Clearstar USDC Reactor and Steakhouse High Yield USDC, which spread deposits across several markets.
More ways to borrow against mGLO
Other loan assets with mGLO as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| mGLO / USDGRobinhood Chain · LLTV 91.5% | 4.98% | 5.52% |
