fxSAVE / USDC on Ethereum (91.5% LLTV)
A Morpho market on Ethereum where people borrow USDC against fxSAVE. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 5.09% a year and borrowers pay 5.57% right now.
Data from Morpho's API · updated
Borrow APY
5.57%
30-day average 4.10%
Supply APY
5.09%
30-day average 3.45%
Supplied
$25.72M
25.73M USDC
Borrowed
$23.56M
91.6% utilization
Available to borrow
$2.16M
free liquidity right now
Collateral posted
$29.33M
25.95M 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 3.72% 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) | 91.5%fixed for the life of the market |
|---|---|
| Liquidation bonus | 2.62%extra collateral a liquidator receives |
| fxSAVE price in USDC | 1.13 USDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x1693…4440 |
| Price feeds | 0x9dD6…5827 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | fxSAVEprice $1.1299 |
| Borrowers | 68 |
| Created | August 20, 2026 |
| Market ID | 0x17f7ae1b…b86b84 |
| Rate model | 0x870a…00BC |
| fxSAVE token | 0x7743…fc39 |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$16.57M of the $25.72M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| RockawayX f(x) Protocol Ecosystem USDCV2lends directly | $10.74M |
| RockawayX USDC YieldV2lends directly | $4.99M |
| Clearstar USDC CoreV2lends directly | $842K |
Largest borrowers
68 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xA56d…846F | $4.38M | 1.20 |
| 0xA25b…0c1A | $3.97M | 1.20 |
| 0x61b0…99A3 | $2.47M | 1.07 |
| 0xC095…7516 | $1.65M | 1.19 |
| 0x6531…A398 | $1.61M | 1.08 |
| 0x4768…c9b2 | $1.19M | 1.12 |
| 0x2a69…378d | $1.04M | 1.10 |
| 0x5C44…546e | $813K | 1.03 |
| 0x73B2…222B | $723K | 1.08 |
| 0x8Ab6…3F4C | $605K | 1.10 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
1 in the last 30 days, $25.9K of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $25.9K25.91K USDC | 0xffbb…13c5 |
About the fxSAVE / USDC market
The fxSAVE / USDC market on Ethereum was created on August 20, 2026. Anyone can lend USDC into it, and anyone holding fxSAVE 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 $25.72M is supplied and $23.56M borrowed, so 91.6% of the market is in use, backed by $29.33M of fxSAVE from 68 borrowers. Borrowers pay 5.57% a year, 4.10% on average over the last 30 days. Lenders earn 5.09%.
3 listed vaults lend here, providing $16.57M of the supply; the largest are RockawayX f(x) Protocol Ecosystem USDC, RockawayX USDC Yield and Clearstar USDC Core. Liquidators who close an unsafe loan here receive a 2.62% bonus in fxSAVE. If fxSAVE fell 20% against USDC, about $28.92M of collateral would be at risk of liquidation. 1 loan was liquidated here in the last 30 days.
fxSAVE / USDC (91.5% LLTV) on Ethereum: quick answers
What is the USDC borrow rate against fxSAVE on Morpho Ethereum?
In this market it is 5.57% a year right now, and it averaged 4.10% 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 are fxSAVE / USDC loans liquidated?
When a loan reaches 91.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes fxSAVE worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if fxSAVE fell to about 0.617 USDC.
How much USDC can be borrowed here right now?
$2.16M 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 5.09% a year right now (3.45% averaged over 30 days). Most lend through vaults, such as RockawayX f(x) Protocol Ecosystem USDC, RockawayX USDC Yield and Clearstar USDC Core, 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 86% | 9.64% | 10.95% |
