reUSDe / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against reUSDe. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 19.55% a year and borrowers pay 21.40% right now.
Data from Morpho's API · updated
Borrow APY
21.40%
30-day average 12.75%
Supply APY
19.55%
30-day average 11.36%
Supplied
$143K
143.31K USDC
Borrowed
$132K
92.1% utilization
Available to borrow
$11.4K
free liquidity right now
Collateral posted
$172K
119.80K reUSDe
reUSDe / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
reUSDe / 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 12.71% 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 reUSDe collateral could be liquidated if its price fell by each amount
Based on today's loans and today's reUSDe price in USDC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 77%fixed for the life of the market |
|---|---|
| Liquidation bonus | 7.41%extra collateral a liquidator receives |
| reUSDe price in USDC | 1.44 USDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x0D63…47fe |
| Price feeds | 0x7844…b843 0x8fFf…18f6 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | reUSDeprice $1.4352 |
| Borrowers | 2 |
| Created | June 2, 2026 |
| Market ID | 0x904142eb…314eb9 |
| Rate model | 0x870a…00BC |
| reUSDe token | 0xdDC0…CC5a |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
No listed vault lends to this market right now
Largest borrowers
2 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xAa34…5Dd5 | $132K | 1.01 |
| 0x829A…eFaa | $1.00 | 3.48 |
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 reUSDe / USDC market
The reUSDe / USDC market on Ethereum was created on June 2, 2026. Anyone can lend USDC into it, and anyone holding reUSDe can borrow that USDC against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $143K is supplied and $132K borrowed, so 92.1% of the market is in use, backed by $172K of reUSDe from 2 borrowers. Borrowers pay 21.40% a year, 12.75% on average over the last 30 days. Lenders earn 19.55%.
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 7.41% bonus in reUSDe. If reUSDe fell 20% against USDC, about $172K of collateral would be at risk of liquidation.
reUSDe / USDC on Ethereum: quick answers
What is the USDC borrow rate against reUSDe on Morpho Ethereum?
In this market it is 21.40% a year right now, and it averaged 12.75% 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 reUSDe / USDC loans liquidated?
When a loan reaches 77% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes reUSDe worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if reUSDe fell to about 0.938 USDC.
How much USDC can be borrowed here right now?
$11.4K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the reUSDe / USDC market?
Lenders earn 19.55% a year right now (11.36% averaged over 30 days). No listed vault lends here, so the supply comes from people lending directly.