syrupUSDC / RLUSD on Ethereum
A Morpho market on Ethereum where people borrow RLUSD against syrupUSDC. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 3.95% a year and borrowers pay 4.47% right now.
Data from Morpho's API · updated
Borrow APY
4.47%
30-day average 5.34%
Supply APY
3.95%
30-day average 4.64%
Supplied
$210K
210.19K RLUSD
Borrowed
$186K
88.6% utilization
Available to borrow
$23.9K
free liquidity right now
Collateral posted
$282K
236.81K syrupUSDC
syrupUSDC / RLUSD rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
syrupUSDC / RLUSD 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 4.52% 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 syrupUSDC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's syrupUSDC price in RLUSD. 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 |
| syrupUSDC price in RLUSD | 1.19 RLUSDthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20xf766…c1B5 |
| Price feeds | 0x8fFf…18f6 0x26C4…7f2A 0x80ac…Cc0b |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | RLUSDprice $0.9998 |
|---|---|
| Collateral | syrupUSDCprice $1.1920 |
| Borrowers | 10 |
| Created | March 4, 2026 |
| Market ID | 0xc0ae375f…040394 |
| Rate model | 0x870a…00BC |
| syrupUSDC token | 0x80ac…Cc0b |
| RLUSD token | 0x8292…17eD |
Vaults lending here
$210K of the $210K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Sentora RLUSD MainV2lends directly | $210K |
Largest borrowers
10 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x78a5…a439 | $115K | 1.06 |
| 0xc0A0…8B0c | $71.0K | 1.02 |
| 0x22eB…C97B | $48.00 | 1.36 |
| 0x13DE…90e1 | $1.00 | 1.41 |
| 0x1854…a5CC | $0 | 11.80 |
| 0x8933…f64a | $0 | 1.05 |
| 0x04E5…13Cd | $0 | 1.05 |
| 0xFA15…d656 | $0 | 1.06 |
| 0xD00A…87cf | $0 | 3.34 |
| 0xD1A1…c1BC | $0 | >99 |
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 syrupUSDC / RLUSD market
The syrupUSDC / RLUSD market on Ethereum was created on March 4, 2026. Anyone can lend RLUSD into it, and anyone holding syrupUSDC can borrow that RLUSD 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 $210K is supplied and $186K borrowed, so 88.6% of the market is in use, backed by $282K of syrupUSDC from 10 borrowers. Borrowers pay 4.47% a year, 5.34% on average over the last 30 days. Lenders earn 3.95%.
1 listed vault lends here, providing $210K of the supply; the largest is Sentora RLUSD Main. Liquidators who close an unsafe loan here receive a 2.62% bonus in syrupUSDC. If syrupUSDC fell 20% against RLUSD, about $212K of collateral would be at risk of liquidation.
syrupUSDC / RLUSD on Ethereum: quick answers
What is the RLUSD borrow rate against syrupUSDC on Morpho Ethereum?
In this market it is 4.47% a year right now, and it averaged 5.34% over the last 30 days. The rate is variable: it follows how much of the market's RLUSD is borrowed, rising quickly above 90%.
When are syrupUSDC / RLUSD 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 syrupUSDC worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if syrupUSDC fell to about 0.652 RLUSD.
How much RLUSD can be borrowed here right now?
$23.9K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the syrupUSDC / RLUSD market?
Lenders earn 3.95% a year right now (4.64% averaged over 30 days). Most lend through vaults, such as Sentora RLUSD Main, which spread deposits across several markets.
More ways to borrow against syrupUSDC
Other loan assets with syrupUSDC as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| syrupUSDC / PYUSDEthereum · LLTV 91.5% | 4.04% | 4.50% |
| syrupUSDC / USDCArc · LLTV 91.5% | 13.69% | 14.60%−9.27% rewards |
| syrupUSDC / AUSDEthereum · LLTV 91.5% | 4.11% | 4.47% |
| syrupUSDC / USDCArbitrum · LLTV 91.5% | 7.08% | 7.69% |
| syrupUSDC / USDCEthereum · LLTV 91.5% | 4.44% | 5.14% |
| syrupUSDC / USDT0Arbitrum · LLTV 91.5% | 0.02% | 0.05% |
