rETH / USDC on Base
A Morpho market on Base where people borrow USDC against rETH. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 0.11% a year and borrowers pay 0.15% right now.
Data from Morpho's API · updated
Borrow APY
0.15%
30-day average 0.33%
Supply APY
0.11%
30-day average 0.27%
Supplied
$1.6K
1.65K USDC
Borrowed
$1.2K
70.3% utilization
Available to borrow
$490
free liquidity right now
Collateral posted
$2.8K
0.883 rETH
rETH / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
rETH / 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 0.18% 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 rETH collateral could be liquidated if its price fell by each amount
Based on today's loans and today's rETH 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 |
| rETH price in USDC | 3.14K USDC |
| Oracle | ChainlinkOracleV20x7E11…b228 |
| Price feeds | 0xf397…e9a5 0x7104…Bb70 0x7e86…bc6B |
| Market fee | Noneshare of interest taken by the protocol |
| Pre-liquidation | Availableborrowers can opt in to gentler, earlier liquidations from 83.26% LTV |
Details
| Loan asset | USDCprice $0.9999 |
|---|---|
| Collateral | rETHprice $3.1K |
| Borrow APY, last year | 7.10% |
| Borrowers | 5 |
| Created | June 11, 2024 |
| Market ID | 0xdb0bc9f1…a1b535 |
| Rate model | 0x4641…2687 |
| rETH token | 0xB6fe…624c |
| USDC token | 0x8335…2913 |
Vaults lending here
No listed vault lends to this market right now
Largest borrowers
5 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x4789…CDE6 | $703 | 1.46 |
| 0x87aC…AE0C | $454 | 1.45 |
| 0xf29c…a8EA | $0 | >99 |
| 0xc3aF…68af | $0 | >99 |
| 0x39bB…f1C1 | $0 | – |
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 rETH / USDC market
The rETH / USDC market on Base was created on June 11, 2024. Anyone can lend USDC into it, and anyone holding rETH 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 $1.6K is supplied and $1.2K borrowed, so 70.3% of the market is in use, backed by $2.8K of rETH from 5 borrowers. Borrowers pay 0.15% a year, 0.33% on average over the last 30 days and 7.10% over the last year. Lenders earn 0.11%.
No listed vault lends to this market right now, so its supply comes from direct lenders. Liquidators who close an unsafe loan here receive a 4.38% bonus in rETH.
rETH / USDC on Base: quick answers
What is the USDC borrow rate against rETH on Morpho Base?
In this market it is 0.15% a year right now, and it averaged 0.33% 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 rETH / USDC loan liquidated?
When the loan reaches 86% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes rETH worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if rETH fell to about 1.82K USDC.
How much USDC can be borrowed here right now?
$490 is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the rETH / USDC market?
Lenders earn 0.11% a year right now (0.27% averaged over 30 days). Most lend through vaults, which spread deposits across several markets.
Other rETH / USDC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| rETH / USDCEthereum · LLTV 86% | 4.20% | 4.67% |
More ways to borrow against rETH
Other loan assets with rETH as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| rETH / WETHEthereum · LLTV 94.5% | 2.02% | 2.24% |
| rETH / WETHBase · LLTV 94.5% | 1.92% | 2.16% |
| rETH / EURCBase · LLTV 86% | 2.00% | 2.73% |
