sUSDe / DAI on Ethereum (91.5% LLTV)
A Morpho market on Ethereum where people borrow DAI against sUSDe. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 11.18% a year and borrowers pay 12.39% right now.
Data from Morpho's API · updated
Borrow APY
12.39%
30-day average 10.33%
Supply APY
11.18%
30-day average 8.98%
Supplied
$625K
624.59K DAI
Borrowed
$567K
90.7% utilization
Available to borrow
$57.8K
free liquidity right now
Collateral posted
$756K
601.80K sUSDe
sUSDe / DAI rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
sUSDe / DAI 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 10.04% 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 sUSDe collateral could be liquidated if its price fell by each amount
Based on today's loans and today's sUSDe price in DAI. 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 |
| sUSDe price in DAI | 1.26 DAIthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x5D91…ae25 |
| Price feeds | 0x9D39…3497 |
| Market fee | Noneshare of interest taken by the protocol |
| Pre-liquidation | Availableborrowers can opt in to gentler, earlier liquidations from 89.79% LTV |
Details
| Loan asset | DAIprice $0.9998 |
|---|---|
| Collateral | sUSDeprice $1.2569 |
| Borrow APY, last year | 7.49% |
| Borrowers | 64 |
| Created | March 14, 2024 |
| Market ID | 0x1247f1c2…026b28 |
| Rate model | 0x870a…00BC |
| sUSDe token | 0x9D39…3497 |
| DAI token | 0x6B17…1d0F |
Vaults lending here
$575K of the $625K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Gauntlet DAI Corelends directly | $575K |
Largest borrowers
64 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x3620…8EEE | $491K | 1.17 |
| 0xc0A7…3362 | $63.0K | 1.12 |
| 0x8C4C…9B41 | $8.1K | 1.83 |
| 0xe939…4FD2 | $1.8K | 1.12 |
| 0x43b1…C369 | $621 | 1.04 |
| 0xef7f…825B | $583 | 1.02 |
| 0x61b1…46F4 | $576 | 1.01 |
| 0xF2f7…9F17 | $266 | 1.25 |
| 0x1d67…c094 | $252 | 2.28 |
| 0x0e64…6d74 | $204 | 8.80 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
2 in the last 30 days, $22.75 of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $11.5011.50 DAI | 0x75ed…1e98 | |
| $11.2511.25 DAI | 0x2d2b…a819 | |
| $11.4511.45 DAI | 0x9393…4e11 | |
| $11.4411.44 DAI | 0x2fd6…8962 |
About the sUSDe / DAI market
The sUSDe / DAI market on Ethereum was created on March 14, 2024. Anyone can lend DAI into it, and anyone holding sUSDe can borrow that DAI 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 $625K is supplied and $567K borrowed, so 90.7% of the market is in use, backed by $756K of sUSDe from 64 borrowers. Borrowers pay 12.39% a year, 10.33% on average over the last 30 days and 7.49% over the last year. Lenders earn 11.18%.
1 listed vault lends here, providing $575K of the supply; the largest is Gauntlet DAI Core. Liquidators who close an unsafe loan here receive a 2.62% bonus in sUSDe. If sUSDe fell 20% against DAI, about $709K of collateral would be at risk of liquidation. 2 loans were liquidated here in the last 30 days.
sUSDe / DAI (91.5% LLTV) on Ethereum: quick answers
What is the DAI borrow rate against sUSDe on Morpho Ethereum?
In this market it is 12.39% a year right now, and it averaged 10.33% over the last 30 days. The rate is variable: it follows how much of the market's DAI is borrowed, rising quickly above 90%.
When are sUSDe / DAI 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 sUSDe worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if sUSDe fell to about 0.687 DAI.
How much DAI can be borrowed here right now?
$57.8K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the sUSDe / DAI market?
Lenders earn 11.18% a year right now (8.98% averaged over 30 days). Most lend through vaults, such as Gauntlet DAI Core, which spread deposits across several markets.
Other sUSDe / DAI markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| sUSDe / DAIEthereum · LLTV 86% | 11.23% | 12.26% |
| sUSDe / DAIEthereum · LLTV 94.5% | 6.08% | 6.73% |
More ways to borrow against sUSDe
Other loan assets with sUSDe as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| sUSDe / PYUSDEthereum · LLTV 91.5% | 3.66% | 4.16% |
| sUSDe / USDtbEthereum · LLTV 91.5% | 23.34% | 24.53% |
| sUSDe / msUSDEthereum · LLTV 91.5% | 0.02% | 0.58% |
| sUSDe / AUSDEthereum · LLTV 91.5% | 3.83% | 4.18% |
| sUSDe / USDTEthereum · LLTV 91.5% | 2.98% | 3.67% |
| sUSDe / USDCEthereum · LLTV 91.5% | 0.13% | 0.14% |
