savUSD / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against savUSD. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 6.58% a year and borrowers pay 7.33% right now.
Data from Morpho's API · updated
Borrow APY
7.33%
30-day average 7.28%
Supply APY
6.58%
30-day average 6.49%
Supplied
$9.01M
9.01M USDC
Borrowed
$8.12M
90.1% utilization
Available to borrow
$893K
free liquidity right now
Collateral posted
$9.89M
8.14M savUSD
savUSD / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
savUSD / 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 7.13% 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 savUSD collateral could be liquidated if its price fell by each amount
Based on today's loans and today's savUSD 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 |
| savUSD price in USDC | 1.22 USDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x8399…ff12 |
| Price feeds | 0x9fBb…2589 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | savUSDprice $1.2149 |
| Borrowers | 9 |
| Created | January 16, 2026 |
| Market ID | 0xe07d4163…e597c9 |
| Rate model | 0x870a…00BC |
| savUSD token | 0xb8D8…46A4 |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$7.91M of the $9.01M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| KPK USDC YieldV2lends directly | $7.89M |
| Clearstar USDC Reactorlends directly | $15.5K |
Largest borrowers
9 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x6CC6…C4bD | $5.14M | 1.06 |
| 0x0D6A…61e1 | $2.45M | 1.14 |
| 0x95d7…6B78 | $614K | 1.33 |
| 0x52B6…d78B | $4.1K | 1.05 |
| 0x7440…5dA7 | $146 | 1.27 |
| 0x8275…57FD | $22.00 | 1.50 |
| 0x63e7…5138 | $4.00 | 1.05 |
| 0xF0Cf…2A75 | $1.00 | 1.66 |
| 0x950f…A86F | $0 | – |
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 savUSD / USDC market
The savUSD / USDC market on Ethereum was created on January 16, 2026. Anyone can lend USDC into it, and anyone holding savUSD 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 $9.01M is supplied and $8.12M borrowed, so 90.1% of the market is in use, backed by $9.89M of savUSD from 9 borrowers. Borrowers pay 7.33% a year, 7.28% on average over the last 30 days. Lenders earn 6.58%.
2 listed vaults lend here, providing $7.91M of the supply; the largest are KPK USDC Yield and Clearstar USDC Reactor. Liquidators who close an unsafe loan here receive a 2.62% bonus in savUSD. If savUSD fell 20% against USDC, about $8.97M of collateral would be at risk of liquidation.
savUSD / USDC on Ethereum: quick answers
What is the USDC borrow rate against savUSD on Morpho Ethereum?
In this market it is 7.33% a year right now, and it averaged 7.28% 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 savUSD / 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 savUSD worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if savUSD fell to about 0.664 USDC.
How much USDC can be borrowed here right now?
$893K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the savUSD / USDC market?
Lenders earn 6.58% a year right now (6.49% averaged over 30 days). Most lend through vaults, such as KPK USDC Yield and Clearstar USDC Reactor, which spread deposits across several markets.
Other savUSD / USDC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| savUSD / USDCBase · LLTV 91.5% | 6.47%+0.93% rewards | 7.21% |
More ways to borrow against savUSD
Other loan assets with savUSD as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| savUSD / AUSDMonad · LLTV 86% | 0.25% | 2.33% |
