sUSDe / msUSD on Ethereum
A Morpho market on Ethereum where people borrow msUSD against sUSDe. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 5.41% a year and borrowers pay 5.96% right now.
Data from Morpho's API · updated
Borrow APY
5.96%
30-day average 5.18%
Supply APY
5.41%
30-day average 4.62%
Supplied
$68.8K
77.51K msUSD
Borrowed
$62.6K
91.0% utilization
Available to borrow
$6.2K
free liquidity right now
Collateral posted
$81.4K
65.16K sUSDe
sUSDe / msUSD rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
sUSDe / msUSD 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 5.11% 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 msUSD. 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 msUSD | 1.41 msUSD |
| 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 | msUSDprice $0.8878 |
|---|---|
| Collateral | sUSDeprice $1.2495 |
| Borrow APY, last year | 4.07% |
| Borrowers | 29 |
| Created | November 23, 2024 |
| Market ID | 0xc9098061…c1c078 |
| Rate model | 0x870a…00BC |
| sUSDe token | 0x9D39…3497 |
| msUSD token | 0xab5e…BEfA |
Vaults lending here
$68.8K of the $68.8K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Metronome msUSD Vaultlends directly | $68.8K |
Largest borrowers
29 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x5C44…546e | $60.4K | 1.05 |
| 0xd603…9d24 | $1.5K | 1.04 |
| 0x7d01…6861 | $760 | 1.07 |
| 0xb046…6DDc | $24.00 | 1.05 |
| 0xCE6B…526D | $9.00 | 1.00 |
| 0x5895…8760 | $9.00 | 1.03 |
| 0x83A6…2841 | $3.00 | 1.20 |
| 0x5022…2302 | $1.00 | 1.13 |
| 0x22Fb…2375 | $1.00 | 1.05 |
| 0xf603…fC18 | $1.00 | 4.21 |
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 sUSDe / msUSD market
The sUSDe / msUSD market on Ethereum was created on November 23, 2024. Anyone can lend msUSD into it, and anyone holding sUSDe can borrow that msUSD 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 $68.8K is supplied and $62.6K borrowed, so 91.0% of the market is in use, backed by $81.4K of sUSDe from 29 borrowers. Borrowers pay 5.96% a year, 5.18% on average over the last 30 days and 4.07% over the last year. Lenders earn 5.41%.
1 listed vault lends here, providing $68.8K of the supply; the largest is Metronome msUSD Vault. Liquidators who close an unsafe loan here receive a 2.62% bonus in sUSDe. If sUSDe fell 20% against msUSD, about $81.1K of collateral would be at risk of liquidation.
sUSDe / msUSD on Ethereum: quick answers
What is the msUSD borrow rate against sUSDe on Morpho Ethereum?
In this market it is 5.96% a year right now, and it averaged 5.18% over the last 30 days. The rate is variable: it follows how much of the market's msUSD is borrowed, rising quickly above 90%.
When is a sUSDe / msUSD 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 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 0.769 msUSD.
How much msUSD can be borrowed here right now?
$6.2K 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 / msUSD market?
Lenders earn 5.41% a year right now (4.62% averaged over 30 days). Most lend through vaults, such as Metronome msUSD Vault, which spread deposits across several markets.
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% | 4.08% |
| sUSDe / DAIEthereum · LLTV 86% | 6.25% | 6.93% |
| sUSDe / USDtbEthereum · LLTV 91.5% | 3.40% | 3.87% |
| sUSDe / DAIEthereum · LLTV 91.5% | 10.25% | 11.20% |
| sUSDe / USDTEthereum · LLTV 91.5% | 4.56% | 5.02% |
| sUSDe / DAIEthereum · LLTV 94.5% | 3.41% | 3.77% |
