sUSDS / USDT on Ethereum
A Morpho market on Ethereum where people borrow USDT against sUSDS. A loan can be liquidated once it reaches 96.5% of the collateral's value. Lenders earn 4.45% a year and borrowers pay 4.90% right now.
Data from Morpho's API · updated
Borrow APY
4.90%
30-day average 3.83%
Supply APY
4.45%
30-day average 3.36%
Supplied
$12.09M
12.09M USDT
Borrowed
$11.01M
91.1% utilization
Available to borrow
$1.08M
up to $12.07M with vault liquidity
Collateral posted
$12.15M
10.94M sUSDS
sUSDS / USDT rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
sUSDS / USDT 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 3.69% 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 sUSDS collateral could be liquidated if its price fell by each amount
Based on today's loans and today's sUSDS price in USDT. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 96.5%fixed for the life of the market |
|---|---|
| Liquidation bonus | 1.06%extra collateral a liquidator receives |
| sUSDS price in USDT | 1.11 USDT |
| Oracle | ChainlinkOracleV20x0C42…4C79 |
| Price feeds | 0xAed0…1ee9 0x3E7d…e32D 0xa393…7fbD |
| Market fee | Noneshare of interest taken by the protocol |
| Pre-liquidation | Availableborrowers can opt in to gentler, earlier liquidations from 95.78% LTV |
Details
| Loan asset | USDTprice $0.9998 |
|---|---|
| Collateral | sUSDSprice $1.1105 |
| Borrow APY, last year | 3.34% |
| Borrowers | 62 |
| Created | November 13, 2024 |
| Market ID | 0x3274643d…9ecf0b |
| Rate model | 0x870a…00BC |
| sUSDS token | 0xa393…7fbD |
| USDT token | 0xdAC1…1ec7 |
Vaults lending here
$11.60M of the $12.09M supplied comes from these vaults
Largest borrowers
62 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xB907…Dd92 | $5.67M | 1.07 |
| 0xd6a3…d980 | $1.17M | 1.07 |
| 0xdf81…2730 | $1.16M | 1.08 |
| 0x3D3D…85d0 | $764K | 1.05 |
| 0xB782…7a7F | $739K | 1.02 |
| 0x6c79…b32c | $685K | 1.01 |
| 0x9FEC…794E | $261K | 1.07 |
| 0x56F9…2794 | $184K | 1.00 |
| 0xBC22…3b94 | $70.8K | 1.32 |
| 0x8d54…C198 | $67.9K | 1.00 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
1 in the last 30 days, $32.64 of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $32.6432.65 USDT | 0xccf5…3133 | |
| $126125.72 USDT | 0xbaa8…a94a |
About the sUSDS / USDT market
The sUSDS / USDT market on Ethereum was created on November 13, 2024. Anyone can lend USDT into it, and anyone holding sUSDS can borrow that USDT against it, up to a loan-to-value of 96.5% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $12.09M is supplied and $11.01M borrowed, so 91.1% of the market is in use, backed by $12.15M of sUSDS from 62 borrowers. Borrowers pay 4.90% a year, 3.83% on average over the last 30 days and 3.34% over the last year. Lenders earn 4.45%.
12 listed vaults lend here, providing $11.60M of the supply; the largest are Steakhouse USDT, Steakhouse Prime USDT and Gauntlet USDT Frontier. Liquidators who close an unsafe loan here receive a 1.06% bonus in sUSDS. If sUSDS fell 20% against USDT, about $12.00M of collateral would be at risk of liquidation. 1 loan was liquidated here in the last 30 days.
sUSDS / USDT 96.5% (327464) on Ethereum: quick answers
What is the USDT borrow rate against sUSDS on Morpho Ethereum?
In this market it is 4.90% a year right now, and it averaged 3.83% over the last 30 days. The rate is variable: it follows how much of the market's USDT is borrowed, rising quickly above 90%.
When is a sUSDS / USDT loan liquidated?
When the loan reaches 96.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes sUSDS worth 1.06% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if sUSDS fell to about 0.575 USDT.
How much USDT can be borrowed here right now?
$1.08M is free in the market, and vaults can move in up to $10.99M more through Morpho's public allocator, for about $12.07M in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the sUSDS / USDT market?
Lenders earn 4.45% a year right now (3.36% averaged over 30 days). Most lend through vaults, such as Steakhouse USDT, Steakhouse Prime USDT and Gauntlet USDT Frontier, which spread deposits across several markets.
Other sUSDS / USDT markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| sUSDS / USDTEthereum · LLTV 96.5% | 3.86% | 4.23% |
More ways to borrow against sUSDS
Other loan assets with sUSDS as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| sUSDS / USDT0Arbitrum · LLTV 94.5% | 1.87% | 2.87% |
| sUSDS / USDCArbitrum · LLTV 94.5% | 2.59% | 2.88% |
| sUSDS / AUSDEthereum · LLTV 94.5% | 10.81% | 11.84% |
| sUSDS / wARSEthereum · LLTV 62.5% | 19.89% | 22.18% |
