mWIN / PYUSD on Ethereum
A Morpho market on Ethereum where people borrow PYUSD against mWIN. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 3.02% a year and borrowers pay 3.46% right now.
Data from Morpho's API · updated
Borrow APY
3.46%
30-day average 4.04%
Supply APY
3.02%
30-day average 3.78%
Supplied
$719K
719.55K PYUSD
Borrowed
$628K
87.4% utilization
Available to borrow
$90.8K
free liquidity right now
Collateral posted
$859K
6.52 mWIN
mWIN / PYUSD rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
mWIN / PYUSD 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 3.54% 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 mWIN collateral could be liquidated if its price fell by each amount
Based on today's loans and today's mWIN price in PYUSD. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 77%fixed for the life of the market |
|---|---|
| Liquidation bonus | 7.41%extra collateral a liquidator receives |
| mWIN price in PYUSD | 131.74K PYUSDthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x4e24…4d20 |
| Price feeds | 0x1725…9517 0x8f1d…8FB1 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | PYUSDprice $0.9994 |
|---|---|
| Collateral | mWINprice $132K |
| Borrowers | 3 |
| Created | July 31, 2026 |
| Market ID | 0xeecbfa4b…d9c774 |
| Rate model | 0x870a…00BC |
| mWIN token | 0x4E72…B67A |
| PYUSD token | 0x6c3e…A0e8 |
Vaults lending here
$719K of the $719K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Sentora mWIN MainV2lends directly | $719K |
Largest borrowers
3 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x3a55…9356 | $628K | 1.05 |
| 0x13DE…90e1 | $4.00 | 1.12 |
| 0xa58C…4efa | $0 | >99 |
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 mWIN / PYUSD market
The mWIN / PYUSD market on Ethereum was created on July 31, 2026. Anyone can lend PYUSD into it, and anyone holding mWIN can borrow that PYUSD against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $719K is supplied and $628K borrowed, so 87.4% of the market is in use, backed by $859K of mWIN from 3 borrowers. Borrowers pay 3.46% a year, 4.04% on average over the last 30 days. Lenders earn 3.02%.
1 listed vault lends here, providing $719K of the supply; the largest is Sentora mWIN Main. Liquidators who close an unsafe loan here receive a 7.41% bonus in mWIN. If mWIN fell 20% against PYUSD, about $860K of collateral would be at risk of liquidation.
mWIN / PYUSD on Ethereum: quick answers
What is the PYUSD borrow rate against mWIN on Morpho Ethereum?
In this market it is 3.46% a year right now, and it averaged 4.04% over the last 30 days. The rate is variable: it follows how much of the market's PYUSD is borrowed, rising quickly above 90%.
When are mWIN / PYUSD loans liquidated?
When a loan reaches 77% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes mWIN worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if mWIN fell to about 85.54K PYUSD.
How much PYUSD can be borrowed here right now?
$90.8K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the mWIN / PYUSD market?
Lenders earn 3.02% a year right now (3.78% averaged over 30 days). Most lend through vaults, such as Sentora mWIN Main, which spread deposits across several markets.