PT-USDG-24SEP2026 / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against PT-USDG-24SEP2026. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 7.63% a year and borrowers pay 7.88% right now.
Data from Morpho's API · updated
Borrow APY
7.88%
30-day average 2.47%
Supply APY
7.63%
30-day average 2.25%
Supplied
$2.4K
2.36K USDC
Borrowed
$2.3K
97.0% utilization
Available to borrow
$71.00
free liquidity right now
Collateral posted
$2.6K
2.64K PT-USDG-24SEP2026
PT-USDG-24SEP2026 / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
PT-USDG-24SEP2026 / 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 2.50% 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-USDG-24SEP2026 collateral could be liquidated if its price fell by each amount
Based on today's loans and today's PT-USDG-24SEP2026 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-USDG-24SEP2026 price in USDC | 1.00 USDC |
| Oracle | ChainlinkOracleV20x4C0f…8076 |
| Price feeds | 0x9037…E999 0x14f0…d311 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9999 |
|---|---|
| Collateral | PT-USDG-24SEP2026price $0.9999 |
| Borrowers | 2 |
| Created | June 25, 2026 |
| Market ID | 0x2412afc9…2efe26 |
| Rate model | 0x870a…00BC |
| PT-USDG-24SEP2026 token | 0xc190…2140 |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$2.4K of the $2.4K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Pendle Ecosystem USDCV2lends directly | $2.4K |
Largest borrowers
2 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x416f…C074 | $2.3K | 1.05 |
| 0xfeed…3C9a | $1.00 | 4.04 |
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-USDG-24SEP2026 / USDC market
The PT-USDG-24SEP2026 / USDC market on Ethereum was created on June 25, 2026. Anyone can lend USDC into it, and anyone holding PT-USDG-24SEP2026 can borrow that USDC 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 $2.4K is supplied and $2.3K borrowed, so 97.0% of the market is in use, backed by $2.6K of PT-USDG-24SEP2026 from 2 borrowers. Borrowers pay 7.88% a year, 2.47% on average over the last 30 days. Lenders earn 7.63%.
1 listed vault lends here, providing $2.4K of the supply; the largest is Pendle Ecosystem USDC. Liquidators who close an unsafe loan here receive a 2.62% bonus in PT-USDG-24SEP2026. If PT-USDG-24SEP2026 fell 20% against USDC, about $2.6K of collateral would be at risk of liquidation.
PT-USDG-24SEP2026 / USDC on Ethereum: quick answers
What is the USDC borrow rate against PT-USDG-24SEP2026 on Morpho Ethereum?
In this market it is 7.88% a year right now, and it averaged 2.47% 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 PT-USDG-24SEP2026 / USDC 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-USDG-24SEP2026 worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if PT-USDG-24SEP2026 fell to about 0.546 USDC.
How much USDC can be borrowed here right now?
$71.00 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-USDG-24SEP2026 / USDC market?
Lenders earn 7.63% a year right now (2.25% averaged over 30 days). Most lend through vaults, such as Pendle Ecosystem USDC, which spread deposits across several markets.