PT-cUSD-23JUL2026 / USDT on Ethereum
A Morpho market on Ethereum where people borrow USDT against PT-cUSD-23JUL2026. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 11.48% a year and borrowers pay 13.23% right now.
Data from Morpho's API · updated
Borrow APY
13.23%
30-day average 15.55%
Supply APY
11.48%
30-day average 12.75%
Supplied
$20.6K
20.65K USDT
Borrowed
$18.1K
87.5% utilization
Available to borrow
$2.6K
free liquidity right now
Collateral posted
$20.5K
20.51K PT-cUSD-23JUL2026
PT-cUSD-23JUL2026 / USDT rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
PT-cUSD-23JUL2026 / 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 13.37% 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 PT-cUSD-23JUL2026 collateral could be liquidated if its price fell by each amount
Based on today's loans and today's PT-cUSD-23JUL2026 price in USDT. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 91.5%fixed for the life of the market |
|---|---|
| Liquidation bonus | 2.62%extra collateral a liquidator receives |
| PT-cUSD-23JUL2026 price in USDT | 1.00 USDT |
| Oracle | ChainlinkOracleV20x25b3…3DD2 |
| Price feeds | 0xF0aE…a5c4 0x9A5a…434A 0xeeF3…b94e |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDTprice $0.9998 |
|---|---|
| Collateral | PT-cUSD-23JUL2026price $0.9999 |
| Borrowers | 5 |
| Created | January 26, 2026 |
| Market ID | 0xfd039edc…b2554b |
| Rate model | 0x870a…00BC |
| PT-cUSD-23JUL2026 token | 0x928F…F4cE |
| USDT token | 0xdAC1…1ec7 |
Vaults lending here
No listed vault lends to this market right now
Largest borrowers
5 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xa1D9…930e | $18.0K | 1.04 |
| 0x83De…7A93 | $6.00 | 1.08 |
| 0x7D94…ab30 | $4.00 | 1.30 |
| 0xfeed…3C9a | $1.00 | 4.03 |
| 0x5771…756a | $1.00 | 1.00 |
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
| When | Debt repaid | Transaction |
|---|---|---|
| $92.2K92.25K USDT | 0x2039…fa6d |
About the PT-cUSD-23JUL2026 / USDT market
The PT-cUSD-23JUL2026 / USDT market on Ethereum was created on January 26, 2026. Anyone can lend USDT into it, and anyone holding PT-cUSD-23JUL2026 can borrow that USDT against it, up to a loan-to-value of 91.5% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $20.6K is supplied and $18.1K borrowed, so 87.5% of the market is in use, backed by $20.5K of PT-cUSD-23JUL2026 from 5 borrowers. Borrowers pay 13.23% a year, 15.55% on average over the last 30 days. Lenders earn 11.48%.
No listed vault lends to this market right now, so its supply comes from direct lenders. Liquidators who close an unsafe loan here receive a 2.62% bonus in PT-cUSD-23JUL2026. If PT-cUSD-23JUL2026 fell 20% against USDT, about $20.5K of collateral would be at risk of liquidation.
PT-cUSD-23JUL2026 / USDT on Ethereum: quick answers
What is the USDT borrow rate against PT-cUSD-23JUL2026 on Morpho Ethereum?
In this market it is 13.23% a year right now, and it averaged 15.55% over the last 30 days. The rate is variable: it follows how much of the market's USDT is borrowed, rising quickly above 90%.
When is a PT-cUSD-23JUL2026 / USDT loan liquidated?
When the loan reaches 91.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes PT-cUSD-23JUL2026 worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if PT-cUSD-23JUL2026 fell to about 0.546 USDT.
How much USDT can be borrowed here right now?
$2.6K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the PT-cUSD-23JUL2026 / USDT market?
Lenders earn 11.48% a year right now (12.75% averaged over 30 days). Most lend through vaults, which spread deposits across several markets.