v-wmtUSDC / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against v-wmtUSDC. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 6.05% a year and borrowers pay 6.75% right now.
Data from Morpho's API · updated
Borrow APY
6.75%
30-day average 6.80%
Supply APY
6.05%
30-day average 6.09%
Supplied
$4.46M
4.46M USDC
Borrowed
$4.01M
89.9% utilization
Available to borrow
$449K
free liquidity right now
Collateral posted
$5.40M
4.55M v-wmtUSDC
v-wmtUSDC / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
v-wmtUSDC / USDC 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 6.75% 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 v-wmtUSDC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's v-wmtUSDC price in USDC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 86%fixed for the life of the market |
|---|---|
| Liquidation bonus | 4.38%extra collateral a liquidator receives |
| v-wmtUSDC price in USDC | 1.19 USDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x6969…07e8 |
| Price feeds | 0xe44D…0Aae |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | v-wmtUSDCprice $1.1847 |
| Borrowers | 20 |
| Created | April 27, 2026 |
| Market ID | 0x1d09bf97…693f6b |
| Rate model | 0x870a…00BC |
| v-wmtUSDC token | 0xF654…839f |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$4.46M of the $4.46M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Wintermute USDC SelectV2lends directly | $4.46M |
Largest borrowers
20 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x2F71…F5aA | $1.31M | 1.15 |
| 0x8C11…6CB9 | $653K | 1.14 |
| 0xe39b…6d33 | $546K | 1.31 |
| 0x0ccB…48B0 | $410K | 1.08 |
| 0x89FE…FE15 | $315K | 1.09 |
| 0xa551…e62D | $304K | 1.24 |
| 0x9D02…890A | $223K | 1.08 |
| 0xe259…5633 | $61.8K | 1.11 |
| 0x9f09…f363 | $39.2K | 1.03 |
| 0x2066…A6d5 | $39.0K | 1.11 |
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 v-wmtUSDC / USDC market
The v-wmtUSDC / USDC market on Ethereum was created on April 27, 2026. Anyone can lend USDC into it, and anyone holding v-wmtUSDC can borrow that USDC against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $4.46M is supplied and $4.01M borrowed, so 89.9% of the market is in use, backed by $5.40M of v-wmtUSDC from 20 borrowers. Borrowers pay 6.75% a year, 6.80% on average over the last 30 days. Lenders earn 6.05%.
1 listed vault lends here, providing $4.46M of the supply; the largest is Wintermute USDC Select. Liquidators who close an unsafe loan here receive a 4.38% bonus in v-wmtUSDC. If v-wmtUSDC fell 20% against USDC, about $4.12M of collateral would be at risk of liquidation.
v-wmtUSDC / USDC on Ethereum: quick answers
What is the USDC borrow rate against v-wmtUSDC on Morpho Ethereum?
In this market it is 6.75% a year right now, and it averaged 6.80% over the last 30 days. The rate is variable: it follows how much of the market's USDC is borrowed, rising quickly above 90%.
When are v-wmtUSDC / USDC loans liquidated?
When a loan reaches 86% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes v-wmtUSDC worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if v-wmtUSDC fell to about 0.689 USDC.
How much USDC can be borrowed here right now?
$449K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the v-wmtUSDC / USDC market?
Lenders earn 6.05% a year right now (6.09% averaged over 30 days). Most lend through vaults, such as Wintermute USDC Select, which spread deposits across several markets.