USDC / MXNB on Base
A Morpho market on Base where people borrow MXNB against USDC. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 5.47% a year and borrowers pay 6.09% right now.
Data from Morpho's API · updated
Borrow APY
6.09%
30-day average 6.12%
Supply APY
5.47%
30-day average 5.50%
Supplied
$181K
3.22M MXNB
Borrowed
$163K
90.0% utilization
Available to borrow
$18.1K
free liquidity right now
Collateral posted
$226K
226.16K USDC
USDC / MXNB rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
USDC / MXNB 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 6.04% 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 USDC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's USDC price in MXNB. 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 |
| USDC price in MXNB | 17.72 MXNB |
| Oracle | ChainlinkOracleV20x0018…5048 |
| Price feeds | 0x1401…1b0A 0x43Ec…7644 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | MXNBprice $0.0564 |
|---|---|
| Collateral | USDCprice $0.9999 |
| Borrowers | 7 |
| Created | May 22, 2026 |
| Market ID | 0x6b61d473…556312 |
| Rate model | 0x4641…2687 |
| USDC token | 0x8335…2913 |
| MXNB token | 0xF197…80aA |
Vaults lending here
$181K of the $181K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Juno MXNB PrimeV2lends directly | $181K |
Largest borrowers
7 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xDd1E…BC2D | $163K | 1.26 |
| 0x2491…9182 | $85.00 | 1.07 |
| 0x5Eaf…116f | $6.00 | 3.96 |
| 0xd13c…5F30 | $6.00 | 4.84 |
| 0xB47f…0F1F | $0 | 12.94 |
| 0x60DD…6559 | $0 | – |
| 0x67aE…f1a4 | $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 USDC / MXNB market
The USDC / MXNB market on Base was created on May 22, 2026. Anyone can lend MXNB into it, and anyone holding USDC can borrow that MXNB 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 $181K is supplied and $163K borrowed, so 90.0% of the market is in use, backed by $226K of USDC from 7 borrowers. Borrowers pay 6.09% a year, 6.12% on average over the last 30 days. Lenders earn 5.47%.
1 listed vault lends here, providing $181K of the supply; the largest is Juno MXNB Prime. Liquidators who close an unsafe loan here receive a 2.62% bonus in USDC. If USDC fell 20% against MXNB, about $100 of collateral would be at risk of liquidation.
USDC / MXNB on Base: quick answers
What is the MXNB borrow rate against USDC on Morpho Base?
In this market it is 6.09% a year right now, and it averaged 6.12% over the last 30 days. The rate is variable: it follows how much of the market's MXNB is borrowed, rising quickly above 90%.
When is a USDC / MXNB 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 USDC worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if USDC fell to about 9.69 MXNB.
How much MXNB can be borrowed here right now?
$18.1K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the USDC / MXNB market?
Lenders earn 5.47% a year right now (5.50% averaged over 30 days). Most lend through vaults, such as Juno MXNB Prime, which spread deposits across several markets.
More ways to borrow against USDC
Other loan assets with USDC as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| USDC / wARSEthereum · LLTV 77% | 20.93% | 23.41% |
| USDC / WETHBase · LLTV 86% | 1.15% | 1.19% |
