sUSN / USDC on Base
A Morpho market on Base where people borrow USDC against sUSN. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 5.96% a year and borrowers pay 6.42% right now.
Data from Morpho's API · updated
Borrow APY
6.42%
paid by borrowers
Supply APY
5.96%
earned by lenders
Supplied
$3.52M
3.52M USDC
Borrowed
$3.28M
93.1% utilization
Available to borrow
$245K
free liquidity right now
Collateral posted
$4.66M
3.81M sUSN
sUSN / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
sUSN / 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 3.30% 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 sUSN collateral could be liquidated if its price fell by each amount
Based on today's loans and today's sUSN 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 |
| sUSN price in USDC | 1.22 USDC |
| Oracle | ChainlinkOracleV20x29cd…a6cB |
| Price feeds | 0x033f…7c36 0xC362…eeCD |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9999 |
|---|---|
| Collateral | sUSNprice $1.2243 |
| Borrowers | 2 |
| Created | September 11, 2026 |
| Market ID | 0x2e26ecfe…75af62 |
| Rate model | 0x4641…2687 |
| sUSN token | 0x34a2…999F |
| USDC token | 0x8335…2913 |
Vaults lending here
$3.51M of the $3.52M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Noon Ecosystem VaultV2lends directly | $3.51M |
Largest borrowers
2 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xf0d3…5e30 | $2.62M | 1.20 |
| 0x7e03…3705 | $642K | 1.75 |
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 sUSN / USDC market
The sUSN / USDC market on Base was created on September 11, 2026. Anyone can lend USDC into it, and anyone holding sUSN 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 $3.52M is supplied and $3.28M borrowed, so 93.1% of the market is in use, backed by $4.66M of sUSN from 2 borrowers. Borrowers pay 6.42% a year. Lenders earn 5.96%.
1 listed vault lends here, providing $3.51M of the supply; the largest is Noon Ecosystem Vault. Liquidators who close an unsafe loan here receive a 2.62% bonus in sUSN. If sUSN fell 20% against USDC, about $3.43M of collateral would be at risk of liquidation.
sUSN / USDC on Base: quick answers
What is the USDC borrow rate against sUSN on Morpho Base?
In this market it is 6.42% a year right now. The rate is variable: it follows how much of the market's USDC is borrowed, rising quickly above 90%.
When is a sUSN / 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 sUSN worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if sUSN fell to about 0.669 USDC.
How much USDC can be borrowed here right now?
$245K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the sUSN / USDC market?
Lenders earn 5.96% a year right now. Most lend through vaults, such as Noon Ecosystem Vault, which spread deposits across several markets.
Other sUSN / USDC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| sUSN / USDCEthereum · LLTV 86% | 6.81% | 8.19% |