PST / USDT on Ethereum
A Morpho market on Ethereum where people borrow USDT against PST. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 7.30% a year and borrowers pay 7.86% right now.
Data from Morpho's API · updated
Borrow APY
7.86%
paid by borrowers
Supply APY
7.30%
earned by lenders
Supplied
$635K
636.09K USDT
Borrowed
$591K
93.0% utilization
Available to borrow
$44.4K
free liquidity right now
Collateral posted
$746K
650.50K PST
PST / USDT rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
PST / USDT 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 4.05% 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 PST collateral could be liquidated if its price fell by each amount
Based on today's loans and today's PST price in USDT. 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 |
| PST price in USDT | 1.15 USDTthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x2Ee1…F1BF |
| Price feeds | 0x4BE5…65E6 0x8fFf…18f6 0x3E7d…e32D |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDTprice $0.9990 |
|---|---|
| Collateral | PSTprice $1.1462 |
| Borrowers | 9 |
| Created | October 13, 2026 |
| Market ID | 0x42f33c18…097739 |
| Rate model | 0x870a…00BC |
| PST token | 0x22aE…d4c7 |
| USDT token | 0xdAC1…1ec7 |
Vaults lending here
$635K of the $635K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Flowdesk Confidential High Yield USDTV2lends directly | $635K |
Largest borrowers
9 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x55Fa…272c | $229K | 1.08 |
| 0x1491…6656 | $112K | 1.05 |
| 0xEE42…F3E6 | $110K | 1.12 |
| 0xEA5A…5CA8 | $106K | 1.15 |
| 0x5516…D611 | $16.7K | 1.07 |
| 0xD67F…A67C | $13.1K | 1.06 |
| 0x075f…D955 | $160 | 1.16 |
| 0x7c01…3D57 | $149 | 1.09 |
| 0x20C0…36A0 | $1.00 | 1.50 |
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 PST / USDT market
The PST / USDT market on Ethereum was created on October 13, 2026. Anyone can lend USDT into it, and anyone holding PST can borrow that USDT against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $635K is supplied and $591K borrowed, so 93.0% of the market is in use, backed by $746K of PST from 9 borrowers. Borrowers pay 7.86% a year. Lenders earn 7.30%.
1 listed vault lends here, providing $635K of the supply; the largest is Flowdesk Confidential High Yield USDT. Liquidators who close an unsafe loan here receive a 4.38% bonus in PST. If PST fell 20% against USDT, about $745K of collateral would be at risk of liquidation.
PST / USDT on Ethereum: quick answers
What is the USDT borrow rate against PST on Morpho Ethereum?
In this market it is 7.86% a year right now. The rate is variable: it follows how much of the market's USDT is borrowed, rising quickly above 90%.
When are PST / USDT loans liquidated?
When a loan reaches 86% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes PST worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if PST fell to about 0.667 USDT.
How much USDT can be borrowed here right now?
$44.4K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the PST / USDT market?
Lenders earn 7.30% a year right now. Most lend through vaults, such as Flowdesk Confidential High Yield USDT, which spread deposits across several markets.
More ways to borrow against PST
Other loan assets with PST as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| PST / PYUSDEthereum · LLTV 86% | 6.70% | 7.44% |
| PST / USDCEthereum · LLTV 86% | 6.50% | 7.38% |
| PST / AUSDEthereum · LLTV 86% | 5.87% | 6.54% |
| PST / USDCArc · LLTV 86% | 4.29% | 4.91%−0.14% rewards |
