USDC / wARS on Ethereum
A Morpho market on Ethereum where people borrow wARS against USDC. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 12.56% a year and borrowers pay 14.25% right now.
Data from Morpho's API · updated
Borrow APY
14.25%
30-day average 15.41%
Supply APY
12.56%
30-day average 12.73%
Supplied
$45.8K
76.09M wARS
Borrowed
$40.6K
88.8% utilization
Available to borrow
$5.1K
free liquidity right now
Collateral posted
$62.0K
61.99K USDC
USDC / wARS rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
USDC / wARS 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 14.40% 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 USDC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's USDC price in wARS. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 77%fixed for the life of the market |
|---|---|
| Liquidation bonus | 7.41%extra collateral a liquidator receives |
| USDC price in wARS | 1.67K wARSthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20xDE7b…fc7b |
| Price feeds | 0x37be…8cAa 0xBb65…367b |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | wARSprice $0.0006 |
|---|---|
| Collateral | USDCprice $0.9997 |
| Borrowers | 8 |
| Created | July 28, 2026 |
| Market ID | 0x7bb3c455…5c4e87 |
| Rate model | 0x870a…00BC |
| USDC token | 0xA0b8…eB48 |
| wARS token | 0x0DC4…D90D |
Vaults lending here
$45.8K of the $45.8K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| KPK wARS YieldV2lends directly | $45.8K |
Largest borrowers
8 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x4d68…0785 | $40.3K | 1.17 |
| 0x3682…6615 | $490 | 1.26 |
| 0x967E…5955 | $4.00 | 1.08 |
| 0x82C2…406e | $3.00 | 1.52 |
| 0x8275…57FD | $0 | 12.30 |
| 0xAF15…9440 | $0 | 1.06 |
| 0xE423…00C7 | $0 | 80.38 |
| 0x77C9…BeC4 | $0 | – |
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 USDC / wARS market
The USDC / wARS market on Ethereum was created on July 28, 2026. Anyone can lend wARS into it, and anyone holding USDC can borrow that wARS against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $45.8K is supplied and $40.6K borrowed, so 88.8% of the market is in use, backed by $62.0K of USDC from 8 borrowers. Borrowers pay 14.25% a year, 15.41% on average over the last 30 days. Lenders earn 12.56%.
1 listed vault lends here, providing $45.8K of the supply; the largest is KPK wARS Yield. Liquidators who close an unsafe loan here receive a 7.41% bonus in USDC. If USDC fell 20% against wARS, about $61.2K of collateral would be at risk of liquidation.
USDC / wARS on Ethereum: quick answers
What is the wARS borrow rate against USDC on Morpho Ethereum?
In this market it is 14.25% a year right now, and it averaged 15.41% over the last 30 days. The rate is variable: it follows how much of the market's wARS is borrowed, rising quickly above 90%.
When are USDC / wARS loans liquidated?
When a loan reaches 77% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes USDC worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if USDC fell to about 1.08K wARS.
How much wARS can be borrowed here right now?
$5.1K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the USDC / wARS market?
Lenders earn 12.56% a year right now (12.73% averaged over 30 days). Most lend through vaults, such as KPK wARS Yield, which spread deposits across several markets.
More ways to borrow against USDC
Other loan assets with USDC as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| USDC / MXNBBase · LLTV 91.5% | 5.43% | 6.07% |
| USDC / WETHBase · LLTV 86% | <0.01% | 0.04% |
