fxSAVE / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against fxSAVE. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 10.41% a year and borrowers pay 11.54% right now.
Data from Morpho's API · updated
Borrow APY
11.54%
30-day average 11.41%
Supply APY
10.41%
30-day average 10.77%
Supplied
$62.3K
62.26K USDC
Borrowed
$56.4K
90.6% utilization
Available to borrow
$5.8K
free liquidity right now
Collateral posted
$67.7K
60.47K fxSAVE
fxSAVE / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
fxSAVE / 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 9.62% 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 fxSAVE collateral could be liquidated if its price fell by each amount
Based on today's loans and today's fxSAVE price in USDC. 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 |
| fxSAVE price in USDC | 1.12 USDC |
| Oracle | ChainlinkOracleV20x1693…4440 |
| Price feeds | 0x9dD6…5827 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9999 |
|---|---|
| Collateral | fxSAVEprice $1.1203 |
| Borrow APY, last year | 9.20% |
| Borrowers | 8 |
| Created | April 18, 2025 |
| Market ID | 0x43e925e5…1ff459 |
| Rate model | 0x870a…00BC |
| fxSAVE token | 0x7743…fc39 |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$26.1K of the $62.3K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Clearstar USDC CoreV2lends directly | $15.3K |
| Clearstar USDC Reactorlends directly | $10.8K |
Largest borrowers
8 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x0048…b220 | $30.5K | 1.03 |
| 0xa57b…B909 | $20.5K | 1.03 |
| 0x3055…8857 | $4.3K | 1.03 |
| 0x659B…4E01 | $780 | 1.04 |
| 0xAD78…B197 | $230 | 1.26 |
| 0xc3b1…1069 | $137 | 1.05 |
| 0xb957…a403 | $1.00 | >99 |
| 0x3ADd…9EF9 | $1.00 | 1.70 |
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 fxSAVE / USDC market
The fxSAVE / USDC market on Ethereum was created on April 18, 2025. Anyone can lend USDC into it, and anyone holding fxSAVE can borrow that USDC against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $62.3K is supplied and $56.4K borrowed, so 90.6% of the market is in use, backed by $67.7K of fxSAVE from 8 borrowers. Borrowers pay 11.54% a year, 11.41% on average over the last 30 days and 9.20% over the last year. Lenders earn 10.41%.
2 listed vaults lend here, providing $26.1K of the supply; the largest are Clearstar USDC Core and Clearstar USDC Reactor. Liquidators who close an unsafe loan here receive a 4.38% bonus in fxSAVE. If fxSAVE fell 20% against USDC, about $67.2K of collateral would be at risk of liquidation.
fxSAVE / USDC 86% on Ethereum: quick answers
What is the USDC borrow rate against fxSAVE on Morpho Ethereum?
In this market it is 11.54% a year right now, and it averaged 11.41% 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 is a fxSAVE / USDC loan liquidated?
When the loan reaches 86% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes fxSAVE worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if fxSAVE fell to about 0.651 USDC.
How much USDC can be borrowed here right now?
$5.8K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the fxSAVE / USDC market?
Lenders earn 10.41% a year right now (10.77% averaged over 30 days). Most lend through vaults, such as Clearstar USDC Core and Clearstar USDC Reactor, which spread deposits across several markets.
Other fxSAVE / USDC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| fxSAVE / USDCEthereum · LLTV 91.5% | 4.63%+5.45% rewards | 5.12% |