WBTC / EURC on Ethereum
A Morpho market on Ethereum where people borrow EURC against WBTC. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 2.41% a year and borrowers pay 2.92% right now.
Data from Morpho's API · updated
Borrow APY
2.92%
30-day average 3.14%
Supply APY
2.41%
30-day average 2.78%
Supplied
$1.63M
1.44M EURC
Borrowed
$1.35M
82.8% utilization
Available to borrow
$282K
free liquidity right now
Collateral posted
$3.16M
37.70 WBTC
WBTC / EURC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
WBTC / EURC 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 3.11% 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 WBTC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's WBTC price in EURC. 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 |
| WBTC price in EURC | 73.69K EURC |
| Oracle | ChainlinkOracleV20x9CB3…7b89 |
| Price feeds | 0xfdFD…BB23 0xF403…E88c 0x04F8…DA11 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | EURCprice $1.1386 |
|---|---|
| Collateral | WBTCprice $83.9K |
| Borrow APY, last year | 4.05% |
| Borrowers | 74 |
| Created | July 3, 2025 |
| Market ID | 0xff527fe9…180a75 |
| Rate model | 0x870a…00BC |
| WBTC token | 0x2260…C599 |
| EURC token | 0x1aBa…C33c |
Vaults lending here
$1.58M of the $1.63M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Gauntlet EURC Corelends directly | $759K |
| Steakhouse Prime EURCV2lends directly | $612K |
| KPK EURC YieldV2lends directly | $190K |
| Gauntlet EURC CoreV2lends directly | $22.8K |
Largest borrowers
74 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x3998…E891 | $294K | 1.21 |
| 0x2c08…6B15 | $171K | 2.31 |
| 0xDCc2…75A9 | $161K | 1.61 |
| 0x5307…6E24 | $106K | 2.02 |
| 0x1A4F…9810 | $70.3K | 1.75 |
| 0xa1D8…e1de | $62.1K | 1.53 |
| 0xcf27…A634 | $57.1K | 1.69 |
| 0xa16C…FdE1 | $51.0K | 1.42 |
| 0x2477…dCdf | $45.6K | 1.89 |
| 0xFc2E…A053 | $42.9K | 2.14 |
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 WBTC / EURC market
The WBTC / EURC market on Ethereum was created on July 3, 2025. Anyone can lend EURC into it, and anyone holding WBTC can borrow that EURC against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $1.63M is supplied and $1.35M borrowed, so 82.8% of the market is in use, backed by $3.16M of WBTC from 74 borrowers. Borrowers pay 2.92% a year, 3.14% on average over the last 30 days and 4.05% over the last year. Lenders earn 2.41%.
4 listed vaults lend here, providing $1.58M of the supply; the largest are Gauntlet EURC Core, Steakhouse Prime EURC and KPK EURC Yield. Liquidators who close an unsafe loan here receive a 4.38% bonus in WBTC. If WBTC fell 20% against EURC, about $416K of collateral would be at risk of liquidation.
WBTC / EURC on Ethereum: quick answers
What is the EURC borrow rate against WBTC on Morpho Ethereum?
In this market it is 2.92% a year right now, and it averaged 3.14% over the last 30 days. The rate is variable: it follows how much of the market's EURC is borrowed, rising quickly above 90%.
When is a WBTC / EURC loan liquidated?
When the loan reaches 86% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes WBTC worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if WBTC fell to about 42.84K EURC.
How much EURC can be borrowed here right now?
$282K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the WBTC / EURC market?
Lenders earn 2.41% a year right now (2.78% averaged over 30 days). Most lend through vaults, such as Gauntlet EURC Core, Steakhouse Prime EURC and KPK EURC Yield, which spread deposits across several markets.
More ways to borrow against WBTC
Other loan assets with WBTC as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| WBTC / USDCEthereum · LLTV 86% | 4.66% | 5.17% |
| WBTC / USDTEthereum · LLTV 86% | 4.37% | 4.82% |
| WBTC / EURCVEthereum · LLTV 86% | 1.82% | 2.02% |
| WBTC / RLUSDEthereum · LLTV 86% | 3.63% | 4.01% |
| WBTC / USDTEthereum · LLTV 86% | 4.33% | 4.78% |
| WBTC / USDCArbitrum · LLTV 86% | 1.99% | 2.96% |
