rETH / WETH on Base
A Morpho market on Base where people borrow WETH against rETH. A loan can be liquidated once it reaches 94.5% of the collateral's value. Lenders earn 1.92% a year and borrowers pay 2.16% right now.
Data from Morpho's API · updated
Borrow APY
2.16%
30-day average 2.37%
Supply APY
1.92%
30-day average 2.12%
Supplied
$160K
59.49 WETH
Borrowed
$142K
88.6% utilization
Available to borrow
$18.3K
free liquidity right now
Collateral posted
$178K
56.63 rETH
rETH / WETH rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
rETH / WETH 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 2.19% 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 WETH. 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 |
| rETH price in WETH | 1.17 WETH |
| Oracle | ChainlinkOracleV20x05f7…98f2 |
| Price feeds | 0xf397…e9a5 |
| 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 | WETHprice $2.7K |
|---|---|
| Collateral | rETHprice $3.1K |
| Borrow APY, last year | 2.11% |
| Borrowers | 73 |
| Created | June 11, 2024 |
| Market ID | 0xdc69cf2c…41c165 |
| Rate model | 0x4641…2687 |
| rETH token | 0xB6fe…624c |
| WETH token | 0x4200…0006 |
Vaults lending here
$109K of the $160K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Moonwell Flagship ETHlends directly | $109K |
| Clearstar ETH Reactorlends directly | $3.00 |
Largest borrowers
73 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x0486…18A5 | $70.1K | 1.11 |
| 0x6e8B…61E3 | $49.8K | 1.30 |
| 0x4AF9…20cC | $18.6K | 1.09 |
| 0x208C…32a1 | $1.7K | 1.11 |
| 0x7dD1…7CC9 | $1.5K | 2.08 |
| 0xdf1B…c5F2 | $40.00 | 1.48 |
| 0x12a4…c1ED | $19.00 | 1.08 |
| 0x58C6…5Cfd | $13.00 | 1.21 |
| 0x3042…33cF | $13.00 | 1.20 |
| 0x506c…6730 | $13.00 | 1.21 |
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 / WETH market
The rETH / WETH market on Base was created on June 11, 2024. Anyone can lend WETH into it, and anyone holding rETH can borrow that WETH 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 $160K is supplied and $142K borrowed, so 88.6% of the market is in use, backed by $178K of rETH from 73 borrowers. Borrowers pay 2.16% a year, 2.37% on average over the last 30 days and 2.11% over the last year. Lenders earn 1.92%.
2 listed vaults lend here, providing $109K of the supply; the largest are Moonwell Flagship ETH and Clearstar ETH Reactor. Liquidators who close an unsafe loan here receive a 1.68% bonus in rETH. If rETH fell 20% against WETH, about $106K of collateral would be at risk of liquidation.
rETH / WETH on Base: quick answers
What is the WETH borrow rate against rETH on Morpho Base?
In this market it is 2.16% a year right now, and it averaged 2.37% over the last 30 days. The rate is variable: it follows how much of the market's WETH is borrowed, rising quickly above 90%.
When is a rETH / WETH 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 rETH worth 1.68% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if rETH fell to about 0.618 WETH.
How much WETH can be borrowed here right now?
$18.3K 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 / WETH market?
Lenders earn 1.92% a year right now (2.12% averaged over 30 days). Most lend through vaults, such as Moonwell Flagship ETH and Clearstar ETH Reactor, which spread deposits across several markets.
Other rETH / WETH markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| rETH / WETHEthereum · LLTV 94.5% | 2.02% | 2.24% |
More ways to borrow against rETH
Other loan assets with rETH as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| rETH / USDCEthereum · LLTV 86% | 4.20% | 4.67% |
| rETH / EURCBase · LLTV 86% | 2.00% | 2.73% |
| rETH / USDCBase · LLTV 86% | 0.11% | 0.15% |
