PRIME / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against PRIME. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 4.63% a year and borrowers pay 5.13% right now.
Data from Morpho's API · updated
Borrow APY
5.13%
30-day average 4.99%
Supply APY
4.63%
30-day average 4.30%
Supplied
$884K
883.72K USDC
Borrowed
$799K
90.4% utilization
Available to borrow
$85.1K
free liquidity right now
Collateral posted
$1.10M
1.04M PRIME
PRIME / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
PRIME / 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 4.62% 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 PRIME collateral could be liquidated if its price fell by each amount
Based on today's loans and today's PRIME price in USDC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 86%fixed for the life of the market |
|---|---|
| Liquidation bonus | 4.38%extra collateral a liquidator receives |
| PRIME price in USDC | 1.06 USDC |
| Oracle | ChainlinkOracleV20x999e…119a |
| Price feeds | 0xf17C…58d1 0x8fFf…18f6 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9999 |
|---|---|
| Collateral | PRIMEprice $1.0612 |
| Borrowers | 9 |
| Created | May 15, 2026 |
| Market ID | 0x755f9545…1fb64d |
| Rate model | 0x870a…00BC |
| PRIME token | 0x19eb…F7F6 |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$839K of the $884K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Gauntlet USDC RWAlends directly | $660K |
| Gauntlet USDC FrontierV2lends directly | $179K |
| Figure USDC MainV2lends directly | $11.00 |
Largest borrowers
9 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xc4C7…fe94 | $743K | 1.15 |
| 0x2067…9836 | $54.9K | 1.75 |
| 0x8F2d…2193 | $333 | 1.15 |
| 0x3703…D6bb | $121 | 1.51 |
| 0x14b2…501f | $17.00 | 1.06 |
| 0x3585…2a7d | $10.00 | 1.29 |
| 0xd764…6C13 | $1.00 | 1.05 |
| 0x2e8A…2245 | $0 | 1.11 |
| 0x7651…68cd | $0 | – |
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 PRIME / USDC market
The PRIME / USDC market on Ethereum was created on May 15, 2026. Anyone can lend USDC into it, and anyone holding PRIME can borrow that USDC against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $884K is supplied and $799K borrowed, so 90.4% of the market is in use, backed by $1.10M of PRIME from 9 borrowers. Borrowers pay 5.13% a year, 4.99% on average over the last 30 days. Lenders earn 4.63%.
3 listed vaults lend here, providing $839K of the supply; the largest are Gauntlet USDC RWA, Gauntlet USDC Frontier and Figure USDC Main. Liquidators who close an unsafe loan here receive a 4.38% bonus in PRIME. If PRIME fell 20% against USDC, about $991K of collateral would be at risk of liquidation.
PRIME / USDC on Ethereum: quick answers
What is the USDC borrow rate against PRIME on Morpho Ethereum?
In this market it is 5.13% a year right now, and it averaged 4.99% 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 PRIME / USDC loan liquidated?
When the loan reaches 86% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes PRIME worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if PRIME fell to about 0.617 USDC.
How much USDC can be borrowed here right now?
$85.1K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the PRIME / USDC market?
Lenders earn 4.63% a year right now (4.30% averaged over 30 days). Most lend through vaults, such as Gauntlet USDC RWA, Gauntlet USDC Frontier and Figure USDC Main, which spread deposits across several markets.
More ways to borrow against PRIME
Other loan assets with PRIME as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| PRIME / PYUSDEthereum · LLTV 86% | 3.99% | 4.61% |
| PRIME / AUSDEthereum · LLTV 86% | 3.93% | 4.32% |
| PRIME / AUSDEthereum · LLTV 86% | 4.67% | 5.33% |
