NGI+ / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against NGI+. A loan can be liquidated once it reaches 62.5% of the collateral's value. Lenders earn 6.40% a year and borrowers pay 7.13% right now.
Data from Morpho's API · updated
Borrow APY
7.13%
30-day average 7.67%
Supply APY
6.40%
30-day average 6.94%
Supplied
$68.7K
68.71K USDC
Borrowed
$61.8K
90.0% utilization
Available to borrow
$6.8K
free liquidity right now
Collateral posted
$110K
79.01 NGI+
NGI+ / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
NGI+ / 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 7.04% 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 NGI+ collateral could be liquidated if its price fell by each amount
Based on today's loans and today's NGI+ price in USDC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 62.5%fixed for the life of the market |
|---|---|
| Liquidation bonus | 12.68%extra collateral a liquidator receives |
| NGI+ price in USDC | 1.39K USDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20xFd46…Be1c |
| Price feeds | 0x7391…fC61 0x8fFf…18f6 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | NGI+price $1.4K |
| Borrowers | 3 |
| Created | June 17, 2026 |
| Market ID | 0x008bed85…f70bec |
| Rate model | 0x870a…00BC |
| NGI+ token | 0xF252…30d9 |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$68.7K of the $68.7K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Flowmark fGenesisV2lends directly | $68.7K |
Largest borrowers
3 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xEB0a…fCD4 | $31.7K | 1.07 |
| 0x9C10…c233 | $30.1K | 1.15 |
| 0xe5F7…9744 | $1.00 | 9.47 |
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 NGI+ / USDC market
The NGI+ / USDC market on Ethereum was created on June 17, 2026. Anyone can lend USDC into it, and anyone holding NGI+ can borrow that USDC against it, up to a loan-to-value of 62.5% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $68.7K is supplied and $61.8K borrowed, so 90.0% of the market is in use, backed by $110K of NGI+ from 3 borrowers. Borrowers pay 7.13% a year, 7.67% on average over the last 30 days. Lenders earn 6.40%.
1 listed vault lends here, providing $68.7K of the supply; the largest is Flowmark fGenesis. Liquidators who close an unsafe loan here receive a 12.68% bonus in NGI+. If NGI+ fell 20% against USDC, about $110K of collateral would be at risk of liquidation.
NGI+ / USDC on Ethereum: quick answers
What is the USDC borrow rate against NGI+ on Morpho Ethereum?
In this market it is 7.13% a year right now, and it averaged 7.67% 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 NGI+ / USDC loans liquidated?
When a loan reaches 62.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes NGI+ worth 12.68% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if NGI+ fell to about 1.11K USDC.
How much USDC can be borrowed here right now?
$6.8K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the NGI+ / USDC market?
Lenders earn 6.40% a year right now (6.94% averaged over 30 days). Most lend through vaults, such as Flowmark fGenesis, which spread deposits across several markets.