savUSD / USDC on Base
A Morpho market on Base where people borrow USDC against savUSD. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 6.47% a year and borrowers pay 7.21% right now.
Data from Morpho's API · updated
Borrow APY
7.21%
30-day average 7.56%
Supply APY
6.47%
30-day average 6.81%
Supplied
$3.65M
3.65M USDC
Borrowed
$3.29M
90.0% utilization
Available to borrow
$365K
free liquidity right now
Collateral posted
$4.54M
3.74M savUSD
savUSD / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
savUSD / 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 7.20% 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 savUSD collateral could be liquidated if its price fell by each amount
Based on today's loans and today's savUSD 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 |
| savUSD price in USDC | 1.22 USDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20xFfa9…e4A4 |
| Price feeds | 0xAc52…2D33 0x1401…1b0A |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | savUSDprice $1.2149 |
| Borrowers | 4 |
| Created | August 24, 2026 |
| Market ID | 0x4217fed6…e2aba6 |
| Rate model | 0x4641…2687 |
| savUSD token | 0xa6EF…48ff |
| USDC token | 0x8335…2913 |
Vaults lending here
$3.64M of the $3.65M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| KPK USDC YieldV2lends directly | $3.64M |
Largest borrowers
4 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x0D6A…61e1 | $1.74M | 1.32 |
| 0x6CC6…C4bD | $1.35M | 1.18 |
| 0x95d7…6B78 | $194K | 1.37 |
| 0xAF15…9440 | $2.00 | 1.83 |
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 savUSD / USDC market
The savUSD / USDC market on Base was created on August 24, 2026. Anyone can lend USDC into it, and anyone holding savUSD 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 $3.65M is supplied and $3.29M borrowed, so 90.0% of the market is in use, backed by $4.54M of savUSD from 4 borrowers. Borrowers pay 7.21% a year, 7.56% on average over the last 30 days. Lenders earn 6.47%.
1 listed vault lends here, providing $3.64M of the supply; the largest is KPK USDC Yield. Liquidators who close an unsafe loan here receive a 2.62% bonus in savUSD. If savUSD fell 20% against USDC, about $1.73M of collateral would be at risk of liquidation.
savUSD / USDC on Base: quick answers
What is the USDC borrow rate against savUSD on Morpho Base?
In this market it is 7.21% a year right now, and it averaged 7.56% 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 savUSD / USDC loans liquidated?
When a loan reaches 91.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes savUSD worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if savUSD fell to about 0.664 USDC.
How much USDC can be borrowed here right now?
$365K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the savUSD / USDC market?
Lenders earn 6.47% a year right now (6.81% averaged over 30 days). Most lend through vaults, such as KPK USDC Yield, which spread deposits across several markets.
Other savUSD / USDC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| savUSD / USDCEthereum · LLTV 91.5% | 6.58% | 7.33% |
More ways to borrow against savUSD
Other loan assets with savUSD as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| savUSD / AUSDMonad · LLTV 86% | 0.25% | 2.33% |
