PAXG / tGBP on Ethereum
A Morpho market on Ethereum where people borrow tGBP against PAXG. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 1.00% a year and borrowers pay 1.11% right now.
Data from Morpho's API · updated
Borrow APY
1.11%
30-day average 1.12%
Supply APY
1.00%
30-day average 1.01%
Supplied
$39.3K
29.68K tGBP
Borrowed
$35.4K
90.0% utilization
Available to borrow
$3.9K
free liquidity right now
Collateral posted
$58.2K
13.61 PAXG
PAXG / tGBP rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
PAXG / tGBP 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 1.11% 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 tGBP. 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 tGBP | 3.23K tGBP |
| Oracle | ChainlinkOracleV20xC988…43e5 |
| Price feeds | 0x9944…f8C3 0x5c0A…d4b5 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | tGBPprice $1.3244 |
|---|---|
| Collateral | PAXGprice $4.3K |
| Borrowers | 3 |
| Created | April 17, 2026 |
| Market ID | 0x467650db…5655d8 |
| Rate model | 0x870a…00BC |
| PAXG token | 0x4580…Af78 |
| tGBP token | 0x27f6…5287 |
Vaults lending here
$39.3K of the $39.3K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Steakhouse tGBPV2lends directly | $39.3K |
Largest borrowers
3 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xAAF6…Ab65 | $34.5K | 1.26 |
| 0xf05e…9C68 | $828 | 1.56 |
| 0xfeed…3C9a | $1.00 | 3.00 |
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 PAXG / tGBP market
The PAXG / tGBP market on Ethereum was created on April 17, 2026. Anyone can lend tGBP into it, and anyone holding PAXG can borrow that tGBP against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $39.3K is supplied and $35.4K borrowed, so 90.0% of the market is in use, backed by $58.2K of PAXG from 3 borrowers. Borrowers pay 1.11% a year, 1.12% on average over the last 30 days. Lenders earn 1.00%.
1 listed vault lends here, providing $39.3K of the supply; the largest is Steakhouse tGBP. Liquidators who close an unsafe loan here receive a 7.41% bonus in PAXG.
PAXG / tGBP on Ethereum: quick answers
What is the tGBP borrow rate against PAXG on Morpho Ethereum?
In this market it is 1.11% a year right now, and it averaged 1.12% over the last 30 days. The rate is variable: it follows how much of the market's tGBP is borrowed, rising quickly above 90%.
When is a PAXG / tGBP loan liquidated?
When the 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 2.10K tGBP.
How much tGBP can be borrowed here right now?
$3.9K 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 / tGBP market?
Lenders earn 1.00% a year right now (1.01% averaged over 30 days). Most lend through vaults, such as Steakhouse tGBP, 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 / PYUSDEthereum · LLTV 77% | 9.16% | 10.03% |
