PAXG / PYUSD on Ethereum
A Morpho market on Ethereum where people borrow PYUSD against PAXG. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 5.71% a year and borrowers pay 6.61% right now.
Data from Morpho's API · updated
Borrow APY
6.61%
30-day average 6.94%
Supply APY
5.71%
30-day average 6.17%
Supplied
$193K
192.78K PYUSD
Borrowed
$167K
86.8% utilization
Available to borrow
$25.5K
free liquidity right now
Collateral posted
$298K
76.90 PAXG
PAXG / PYUSD rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
PAXG / 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 6.80% 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 PAXG collateral could be liquidated if its price fell by each amount
Based on today's loans and today's PAXG 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 |
| PAXG price in PYUSD | 3.88K PYUSDthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20xa051…FACE |
| Price feeds | 0x214e…a0D6 |
| Market fee | Noneshare of interest taken by the protocol |
| Pre-liquidation | Availableborrowers can opt in to gentler, earlier liquidations from 72.74% LTV |
Details
| Loan asset | PYUSDprice $0.9994 |
|---|---|
| Collateral | PAXGprice $3.9K |
| Borrow APY, last year | 6.63% |
| Borrowers | 42 |
| Created | September 26, 2024 |
| Market ID | 0xeea9a243…2ba185 |
| Rate model | 0x870a…00BC |
| PAXG token | 0x4580…Af78 |
| PYUSD token | 0x6c3e…A0e8 |
Vaults lending here
$171K of the $193K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Steakhouse Prime InstantV2lends directly | $171K |
Largest borrowers
42 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xfB6b…1Fd4 | $38.5K | 1.32 |
| 0x0E43…02F9 | $24.7K | 1.09 |
| 0x8213…F4AD | $22.7K | 1.50 |
| 0xeB8D…2d98 | $20.2K | 1.18 |
| 0xa394…C821 | $12.4K | 1.19 |
| 0x7F91…5938 | $10.8K | 1.53 |
| 0x6684…8C75 | $5.6K | 1.08 |
| 0xE807…8851 | $5.2K | 3.07 |
| 0x84Ae…2429 | $3.6K | 1.27 |
| 0x117b…D5eE | $3.2K | 1.37 |
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, $18.23 of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $18.2318.23 PYUSD | 0x719b…00cd | |
| $110109.85 PYUSD | 0x4de8…68ad |
About the PAXG / PYUSD market
The PAXG / PYUSD market on Ethereum was created on September 26, 2024. Anyone can lend PYUSD into it, and anyone holding PAXG 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 $193K is supplied and $167K borrowed, so 86.8% of the market is in use, backed by $298K of PAXG from 42 borrowers. Borrowers pay 6.61% a year, 6.94% on average over the last 30 days and 6.63% over the last year. Lenders earn 5.71%.
1 listed vault lends here, providing $171K of the supply; the largest is Steakhouse Prime Instant. Liquidators who close an unsafe loan here receive a 7.41% bonus in PAXG. If PAXG fell 20% against PYUSD, about $105K of collateral would be at risk of liquidation. 1 loan was liquidated here in the last 30 days.
PAXG / PYUSD on Ethereum: quick answers
What is the PYUSD borrow rate against PAXG on Morpho Ethereum?
In this market it is 6.61% a year right now, and it averaged 6.94% 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 PAXG / 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 PAXG worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if PAXG fell to about 2.52K PYUSD.
How much PYUSD can be borrowed here right now?
$25.5K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the PAXG / PYUSD market?
Lenders earn 5.71% a year right now (6.17% averaged over 30 days). Most lend through vaults, such as Steakhouse Prime Instant, which spread deposits across several markets.
More ways to borrow against PAXG
Other loan assets with PAXG as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| PAXG / USDCBase · LLTV 77% | 4.63% | 5.15% |
| PAXG / tGBPEthereum · LLTV 77% | 1.00% | 1.11% |
