syrupUSDT / USDT on Ethereum
A Morpho market on Ethereum where people borrow USDT against syrupUSDT. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 4.75% a year and borrowers pay 5.23% right now.
Data from Morpho's API · updated
Borrow APY
5.23%
30-day average 4.15%
Supply APY
4.75%
30-day average 3.67%
Supplied
$62.5K
62.54K USDT
Borrowed
$56.9K
91.1% utilization
Available to borrow
$5.6K
up to $5.45M with vault liquidity
Collateral posted
$68.6K
59.90K syrupUSDT
syrupUSDT / USDT rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
syrupUSDT / 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 3.95% 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 syrupUSDT collateral could be liquidated if its price fell by each amount
Based on today's loans and today's syrupUSDT price in USDT. 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 |
| syrupUSDT price in USDT | 1.14 USDT |
| Oracle | ChainlinkOracleV20x34e5…e997 |
| Price feeds | 0x356B…BA7D |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDTprice $0.9998 |
|---|---|
| Collateral | syrupUSDTprice $1.1447 |
| Borrowers | 6 |
| Created | January 2, 2026 |
| Market ID | 0xa4774e3e…c4818a |
| Rate model | 0x870a…00BC |
| syrupUSDT token | 0x356B…BA7D |
| USDT token | 0xdAC1…1ec7 |
Vaults lending here
$62.5K of the $62.5K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Gauntlet USDT Frontierlends directly | $58.4K |
| Gauntlet USDT FrontierV2lends directly | $3.5K |
| KPK USDT PrimeV2lends directly | $687 |
Largest borrowers
6 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xeef1…2C8A | $56.5K | 1.10 |
| 0x3b3b…147A | $429 | 1.14 |
| 0xfeed…3C9a | $1.00 | 3.66 |
| 0xD1A1…c1BC | $0 | 1.05 |
| 0xFc81…1AB2 | $0 | 1.06 |
| 0x5eFF…3511 | $0 | 3.50 |
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 syrupUSDT / USDT market
The syrupUSDT / USDT market on Ethereum was created on January 2, 2026. Anyone can lend USDT into it, and anyone holding syrupUSDT can borrow that USDT 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 $62.5K is supplied and $56.9K borrowed, so 91.1% of the market is in use, backed by $68.6K of syrupUSDT from 6 borrowers. Borrowers pay 5.23% a year, 4.15% on average over the last 30 days. Lenders earn 4.75%.
3 listed vaults lend here, providing $62.5K of the supply; the largest are Gauntlet USDT Frontier, Gauntlet USDT Frontier and KPK USDT Prime. Liquidators who close an unsafe loan here receive a 2.62% bonus in syrupUSDT. If syrupUSDT fell 20% against USDT, about $68.6K of collateral would be at risk of liquidation.
syrupUSDT / USDT on Ethereum: quick answers
What is the USDT borrow rate against syrupUSDT on Morpho Ethereum?
In this market it is 5.23% a year right now, and it averaged 4.15% 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 syrupUSDT / USDT 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 syrupUSDT worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if syrupUSDT fell to about 0.626 USDT.
How much USDT can be borrowed here right now?
$5.6K is free in the market, and vaults can move in up to $5.45M more through Morpho's public allocator, for about $5.45M in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the syrupUSDT / USDT market?
Lenders earn 4.75% a year right now (3.67% averaged over 30 days). Most lend through vaults, such as Gauntlet USDT Frontier, Gauntlet USDT Frontier and KPK USDT Prime, which spread deposits across several markets.