PT-sUSDE-26NOV2026 / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against PT-sUSDE-26NOV2026. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 3.87% a year and borrowers pay 4.29% right now.
Data from Morpho's API · updated
Borrow APY
4.29%
30-day average 4.12%
Supply APY
3.87%
30-day average 3.68%
Supplied
$5.11M
5.11M USDC
Borrowed
$4.61M
90.3% utilization
Available to borrow
$497K
free liquidity right now
Collateral posted
$5.31M
5.33M PT-sUSDE-26NOV2026
PT-sUSDE-26NOV2026 / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
PT-sUSDE-26NOV2026 / 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 3.95% 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-sUSDE-26NOV2026 collateral could be liquidated if its price fell by each amount
Based on today's loans and today's PT-sUSDE-26NOV2026 price in USDC. 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-sUSDE-26NOV2026 price in USDC | 0.998 USDCthe market's oracle, which liquidations follow |
| Oracle | Unknown0xF8b2…1b08 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | PT-sUSDE-26NOV2026price $0.9974 |
| Borrowers | 12 |
| Created | August 19, 2026 |
| Market ID | 0x5613b170…46cb05 |
| Rate model | 0x870a…00BC |
| PT-sUSDE-26NOV2026 token | 0xB195…9390 |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$5.11M of the $5.11M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Pendle Ecosystem USDCV2lends directly | $5.11M |
Largest borrowers
12 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xdf81…2730 | $3.43M | 1.06 |
| 0x5C43…d40E | $365K | 1.01 |
| 0x5435…fd46 | $265K | 1.08 |
| 0xE3a5…8D67 | $240K | 1.02 |
| 0x03BA…5d98 | $167K | 1.05 |
| 0xDE79…E141 | $101K | 1.10 |
| 0xBfCD…9212 | $16.6K | 1.08 |
| 0x4264…d880 | $14.1K | 1.03 |
| 0x91Ab…3795 | $10.4K | 1.13 |
| 0xA481…a810 | $8.0K | 1.84 |
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 PT-sUSDE-26NOV2026 / USDC market
The PT-sUSDE-26NOV2026 / USDC market on Ethereum was created on August 19, 2026. Anyone can lend USDC into it, and anyone holding PT-sUSDE-26NOV2026 can borrow that USDC against it, up to a loan-to-value of 91.5% (its LLTV), where liquidation starts. Prices come from a custom oracle; check its source before borrowing or lending.
Right now $5.11M is supplied and $4.61M borrowed, so 90.3% of the market is in use, backed by $5.31M of PT-sUSDE-26NOV2026 from 12 borrowers. Borrowers pay 4.29% a year, 4.12% on average over the last 30 days. Lenders earn 3.87%.
1 listed vault lends here, providing $5.11M of the supply; the largest is Pendle Ecosystem USDC. Liquidators who close an unsafe loan here receive a 2.62% bonus in PT-sUSDE-26NOV2026. If PT-sUSDE-26NOV2026 fell 20% against USDC, about $5.29M of collateral would be at risk of liquidation.
PT-sUSDE-26NOV2026 / USDC on Ethereum: quick answers
What is the USDC borrow rate against PT-sUSDE-26NOV2026 on Morpho Ethereum?
In this market it is 4.29% a year right now, and it averaged 4.12% 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 are PT-sUSDE-26NOV2026 / USDC loans liquidated?
When a loan reaches 91.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes PT-sUSDE-26NOV2026 worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if PT-sUSDE-26NOV2026 fell to about 0.545 USDC.
How much USDC can be borrowed here right now?
$497K 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-sUSDE-26NOV2026 / USDC market?
Lenders earn 3.87% a year right now (3.68% averaged over 30 days). Most lend through vaults, such as Pendle Ecosystem USDC, which spread deposits across several markets.