PEPE / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against PEPE. A loan can be liquidated once it reaches 62.5% of the collateral's value. Lenders earn 0.59% a year and borrowers pay 0.59% right now.
Data from Morpho's API · updated
Borrow APY
0.59%
30-day average 0.11%
Supply APY
0.59%
30-day average 0.09%
Supplied
$7.3K
7.33K USDC
Borrowed
$7.3K
100.0% utilization
Available to borrow
$0
free liquidity right now
Collateral posted
$17.7K
4.03B PEPE
PEPE / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
PEPE / 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 0.16% 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 PEPE collateral could be liquidated if its price fell by each amount
Based on today's loans and today's PEPE 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 |
| PEPE price in USDC | 0.00000439 USDC |
| Oracle | ChainlinkOracleV20xAe53…6501 |
| Price feeds | 0x7fB9…5416 0x8DA9…8369 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9999 |
|---|---|
| Collateral | PEPEprice $0.0000 |
| Borrowers | 57 |
| Created | May 27, 2026 |
| Market ID | 0xde2bb822…24a481 |
| Rate model | 0x870a…00BC |
| PEPE token | 0x6982…1933 |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$7.3K of the $7.3K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Purinta USDCV2lends directly | $7.3K |
Largest borrowers
57 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x4a1C…B9D4 | $6.6K | 1.25 |
| 0x48c4…5839 | $616 | 4.13 |
| 0x4f0a…ea06 | $16.00 | 2.98 |
| 0x7f09…0A94 | $11.00 | 2.65 |
| 0x2ac6…2Cdd | $7.00 | 4.46 |
| 0x4575…cAd0 | $5.00 | 11.88 |
| 0x5f05…fb79 | $4.00 | 1.80 |
| 0xEEeA…AfC9 | $3.00 | 3.41 |
| 0xC01A…E2ad | $3.00 | 3.93 |
| 0xd233…D929 | $2.00 | 1.67 |
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, $2.71 of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $2.712.71 USDC | 0xced5…0bd7 | |
| $1.491.49 USDC | 0x8e84…212a | |
| $2.142.14 USDC | 0x6ed1…2946 |
About the PEPE / USDC market
The PEPE / USDC market on Ethereum was created on May 27, 2026. Anyone can lend USDC into it, and anyone holding PEPE 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 $7.3K is supplied and $7.3K borrowed, so 100.0% of the market is in use, backed by $17.7K of PEPE from 57 borrowers. Borrowers pay 0.59% a year, 0.11% on average over the last 30 days. Lenders earn 0.59%.
1 listed vault lends here, providing $7.3K of the supply; the largest is Purinta USDC. Liquidators who close an unsafe loan here receive a 12.68% bonus in PEPE. If PEPE fell 20% against USDC, about $2.00 of collateral would be at risk of liquidation. 1 loan was liquidated here in the last 30 days.
PEPE / USDC on Ethereum: quick answers
What is the USDC borrow rate against PEPE on Morpho Ethereum?
In this market it is 0.59% a year right now, and it averaged 0.11% 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 is a PEPE / USDC loan liquidated?
When the loan reaches 62.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes PEPE worth 12.68% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if PEPE fell to about 0.00000351 USDC.
How much USDC can be borrowed here right now?
$0 is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the PEPE / USDC market?
Lenders earn 0.59% a year right now (0.09% averaged over 30 days). Most lend through vaults, such as Purinta USDC, which spread deposits across several markets.