wstETH / EURC on Base
A Morpho market on Base where people borrow EURC against wstETH. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 6.86% a year and borrowers pay 7.34% right now.
Data from Morpho's API · updated
Borrow APY
7.34%
30-day average 4.39%
Supply APY
6.86%
30-day average 3.74%
Supplied
$1.09M
986.91K EURC
Borrowed
$1.02M
93.7% utilization
Available to borrow
$68.5K
up to $1.34M with vault liquidity
Collateral posted
$2.46M
980.94 wstETH
wstETH / EURC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
wstETH / EURC 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 3.41% 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 wstETH collateral could be liquidated if its price fell by each amount
Based on today's loans and today's wstETH price in EURC. 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 |
| wstETH price in EURC | 2.28K EURCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20xa541…54F4 |
| Price feeds | 0x43a5…251a 0x7104…Bb70 0xc91D…3F0F |
| 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 | EURCprice $1.1047 |
|---|---|
| Collateral | wstETHprice $2.5K |
| Borrow APY, last year | 2.66% |
| Borrowers | 45 |
| Created | September 10, 2024 |
| Market ID | 0xf7e40290…719561 |
| Rate model | 0x4641…2687 |
| wstETH token | 0xc1CB…e452 |
| EURC token | 0x60a3…db42 |
Vaults lending here
$858K of the $1.09M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Steakhouse Prime EURCV2lends directly | $324K |
| Gauntlet EURC BalancedV2lends directly | $316K |
| Moonwell Flagship EURClends directly | $208K |
| Steakhouse EURClends directly | $10.8K |
Largest borrowers
45 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x93C2…88c6 | $766K | 2.21 |
| 0xc083…6CD2 | $57.5K | 1.48 |
| 0x35cA…9dE6 | $36.4K | 1.58 |
| 0xCDfa…8DB9 | $30.6K | 1.80 |
| 0x7ea7…CBaa | $26.2K | 1.04 |
| 0xC743…Af8D | $24.0K | 1.31 |
| 0x0995…6374 | $21.2K | 2.61 |
| 0x37C3…13Fb | $12.1K | 2.33 |
| 0xc392…F398 | $11.6K | 1.56 |
| 0x67B7…B1E9 | $9.0K | 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 wstETH / EURC market
The wstETH / EURC market on Base was created on September 10, 2024. Anyone can lend EURC into it, and anyone holding wstETH can borrow that EURC against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $1.09M is supplied and $1.02M borrowed, so 93.7% of the market is in use, backed by $2.46M of wstETH from 45 borrowers. Borrowers pay 7.34% a year, 4.39% on average over the last 30 days and 2.66% over the last year. Lenders earn 6.86%.
4 listed vaults lend here, providing $858K of the supply; the largest are Steakhouse Prime EURC, Gauntlet EURC Balanced and Moonwell Flagship EURC. Liquidators who close an unsafe loan here receive a 4.38% bonus in wstETH. If wstETH fell 20% against EURC, about $48.6K of collateral would be at risk of liquidation.
wstETH / EURC on Base: quick answers
What is the EURC borrow rate against wstETH on Morpho Base?
In this market it is 7.34% a year right now, and it averaged 4.39% over the last 30 days. The rate is variable: it follows how much of the market's EURC is borrowed, rising quickly above 90%.
When are wstETH / EURC loans liquidated?
When a loan reaches 86% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes wstETH worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if wstETH fell to about 1.32K EURC.
How much EURC can be borrowed here right now?
$68.5K is free in the market, and vaults can move in up to $1.27M more through Morpho's public allocator, for about $1.34M in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the wstETH / EURC market?
Lenders earn 6.86% a year right now (3.74% averaged over 30 days). Most lend through vaults, such as Steakhouse Prime EURC, Gauntlet EURC Balanced and Moonwell Flagship EURC, which spread deposits across several markets.
Other wstETH / EURC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| wstETH / EURCEthereum · LLTV 86% | 2.35% | 2.77% |
| wstETH / EURCEthereum · LLTV 86% | 2.53% | 2.92% |
More ways to borrow against wstETH
Other loan assets with wstETH as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| wstETH / USDTEthereum · LLTV 86% | 3.00% | 3.66% |
| wstETH / WETHEthereum · LLTV 96.5% | 2.14% | 2.37% |
| wstETH / USDCEthereum · LLTV 86% | 4.48% | 5.16% |
| wstETH / WETHMonad · LLTV 94.5% | 1.39%+1.19% rewards | 1.61% |
| wstETH / WETHEthereum · LLTV 94.5% | 3.02% | 3.29% |
| wstETH / USDCEthereum · LLTV 86% | 4.48% | 5.17% |
