cbBTC / WETH on Ethereum
A Morpho market on Ethereum where people borrow WETH against cbBTC. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 0.02% a year and borrowers pay 0.05% right now.
Data from Morpho's API · updated
Borrow APY
0.05%
30-day average 0.06%
Supply APY
0.02%
30-day average 0.03%
Supplied
$201K
74.78 WETH
Borrowed
$62.6K
31.2% utilization
Available to borrow
$138K
free liquidity right now
Collateral posted
$116K
1.38 cbBTC
cbBTC / WETH rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
cbBTC / 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 0.10% 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 cbBTC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's cbBTC price in WETH. 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 |
| cbBTC price in WETH | 31.23 WETH |
| Oracle | ChainlinkOracleV20x8F65…f5D4 |
| Price feeds | 0xF403…E88c 0x5f4e…8419 |
| Market fee | Noneshare of interest taken by the protocol |
| Pre-liquidation | Availableborrowers can opt in to gentler, earlier liquidations from 89.79% LTV |
Details
| Loan asset | WETHprice $2.7K |
|---|---|
| Collateral | cbBTCprice $83.9K |
| Borrow APY, last year | 1.71% |
| Borrowers | 11 |
| Created | September 4, 2024 |
| Market ID | 0x2cbfb387…874ec0 |
| Rate model | 0x870a…00BC |
| cbBTC token | 0xcbB7…33Bf |
| WETH token | 0xC02a…6Cc2 |
Vaults lending here
$6.6K of the $201K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Vault Bridge WETHlends directly | $6.6K |
| Gauntlet LRT Corelends directly | $11.00 |
| Gauntlet WETH PrimeV2lends directly | $5.00 |
| Gauntlet WETH BalancedV2lends directly | $3.00 |
Largest borrowers
11 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x36eb…601A | $30.6K | 2.18 |
| 0x052F…ad06 | $19.5K | 1.25 |
| 0xFF76…fB4c | $10.7K | 1.19 |
| 0x4789…CDE6 | $1.9K | 1.13 |
| 0x2A31…209F | $2.00 | 1.36 |
| 0x29d4…74f7 | $1.00 | 6.20 |
| 0x947e…19b3 | $0 | 2.46 |
| 0xd91B…dE28 | $0 | 55.50 |
| 0x4a93…5eaD | $0 | >99 |
| 0x4a36…b29f | $0 | 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
| When | Debt repaid | Transaction |
|---|---|---|
| $1.6K0.610 WETH | 0x4d7b…5e2b | |
| $1000.0372 WETH | 0xfc90…8f9e | |
| $15.030.00559 WETH | 0x3a2f…cc6b | |
| $6.440.00239 WETH | 0xfd42…9a40 |
About the cbBTC / WETH market
The cbBTC / WETH market on Ethereum was created on September 4, 2024. Anyone can lend WETH into it, and anyone holding cbBTC can borrow that WETH 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 $201K is supplied and $62.6K borrowed, so 31.2% of the market is in use, backed by $116K of cbBTC from 11 borrowers. Borrowers pay 0.05% a year, 0.06% on average over the last 30 days and 1.71% over the last year. Lenders earn 0.02%.
4 listed vaults lend here, providing $6.6K of the supply; the largest are Vault Bridge WETH, Gauntlet LRT Core and Gauntlet WETH Prime. Liquidators who close an unsafe loan here receive a 2.62% bonus in cbBTC. If cbBTC fell 20% against WETH, about $16.2K of collateral would be at risk of liquidation.
cbBTC / WETH 91.5% (2cbfb3) on Ethereum: quick answers
What is the WETH borrow rate against cbBTC on Morpho Ethereum?
In this market it is 0.05% a year right now, and it averaged 0.06% 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 cbBTC / WETH 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 cbBTC worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if cbBTC fell to about 17.07 WETH.
How much WETH can be borrowed here right now?
$138K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the cbBTC / WETH market?
Lenders earn 0.02% a year right now (0.03% averaged over 30 days). Most lend through vaults, such as Vault Bridge WETH, Gauntlet LRT Core and Gauntlet WETH Prime, which spread deposits across several markets.
Other cbBTC / WETH markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| cbBTC / WETHBase · LLTV 91.5% | 1.54% | 1.71% |
| cbBTC / WETHEthereum · LLTV 91.5% | 1.96% | 2.17% |
More ways to borrow against cbBTC
Other loan assets with cbBTC as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| cbBTC / USDCBase · LLTV 86% | 4.31% | 4.80% |
| cbBTC / USDCEthereum · LLTV 86% | 4.50% | 5.00% |
| cbBTC / USDTEthereum · LLTV 86% | 4.45% | 4.90% |
| cbBTC / EURCVEthereum · LLTV 86% | 1.88% | 2.09% |
| cbBTC / RLUSDEthereum · LLTV 86% | 3.51% | 3.91% |
| cbBTC / EURCBase · LLTV 86% | 2.43% | 3.03% |
