weETH / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against weETH. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 13.40% a year and borrowers pay 13.86% right now.
Data from Morpho's API · updated
Borrow APY
13.86%
30-day average 4.65%
Supply APY
13.40%
30-day average 4.01%
Supplied
$1.15M
1.15M USDC
Borrowed
$1.11M
96.9% utilization
Available to borrow
$35.7K
up to $26.95M with vault liquidity
Collateral posted
$2.12M
716.57 weETH
weETH / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
weETH / 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 4.32% 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 weETH collateral could be liquidated if its price fell by each amount
Based on today's loans and today's weETH price in USDC. 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 |
| weETH price in USDC | 2.97K USDC |
| Oracle | ChainlinkOracleV20xa3A7…8411 |
| Price feeds | 0x4270…F828 0xc005…73aD 0xc386…973D |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9999 |
|---|---|
| Collateral | weETHprice $3.0K |
| Borrowers | 7 |
| Created | May 4, 2026 |
| Market ID | 0x34377fc4…4ac5dd |
| Rate model | 0x870a…00BC |
| weETH token | 0xCd5f…b7ee |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$528K of the $1.15M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Smokehouse USDClends directly | $420K |
| KPK USDC YieldV2lends directly | $103K |
| Steakhouse USDClends directly | $5.1K |
| Gauntlet USDC Corelends directly | $23.00 |
Largest borrowers
7 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xA56d…846F | $1.05M | 1.41 |
| 0xb554…1dAB | $51.1K | 2.24 |
| 0x2D45…C32b | $10.0K | 3.63 |
| 0x71c7…6310 | $526 | 2.99 |
| 0xD1A2…2915 | $10.00 | 4.36 |
| 0x54fA…1374 | $2.00 | 2.65 |
| 0xd8dd…121f | $1.00 | 3.87 |
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 weETH / USDC market
The weETH / USDC market on Ethereum was created on May 4, 2026. Anyone can lend USDC into it, and anyone holding weETH can borrow that USDC against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $1.15M is supplied and $1.11M borrowed, so 96.9% of the market is in use, backed by $2.12M of weETH from 7 borrowers. Borrowers pay 13.86% a year, 4.65% on average over the last 30 days. Lenders earn 13.40%.
4 listed vaults lend here, providing $528K of the supply; the largest are Smokehouse USDC, KPK USDC Yield and Steakhouse USDC. Liquidators who close an unsafe loan here receive a 7.41% bonus in weETH.
weETH / USDC 77% on Ethereum: quick answers
What is the USDC borrow rate against weETH on Morpho Ethereum?
In this market it is 13.86% a year right now, and it averaged 4.65% 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 is a weETH / USDC loan liquidated?
When the loan reaches 77% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes weETH worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if weETH fell to about 1.93K USDC.
How much USDC can be borrowed here right now?
$35.7K is free in the market, and vaults can move in up to $26.92M more through Morpho's public allocator, for about $26.95M in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the weETH / USDC market?
Lenders earn 13.40% a year right now (4.01% averaged over 30 days). Most lend through vaults, such as Smokehouse USDC, KPK USDC Yield and Steakhouse USDC, which spread deposits across several markets.
Other weETH / USDC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| weETH / USDCEthereum · LLTV 86% | 4.49% | 5.00% |
| weETH / USDCEthereum · LLTV 86% | 4.59% | 5.10% |
| weETH / USDCBase · LLTV 77% | 4.34% | 4.84% |
More ways to borrow against weETH
Other loan assets with weETH as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| weETH / RLUSDEthereum · LLTV 86% | 3.77% | 4.20% |
| weETH / PYUSDEthereum · LLTV 86% | 5.28% | 5.84% |
| weETH / WETHEthereum · LLTV 94.5% | 1.95% | 2.16% |
| weETH / vbETHKatana · LLTV 91.5% | 8.50% | 8.73% |
| weETH / USDTEthereum · LLTV 86% | 4.61% | 5.07% |
| weETH / USDTEthereum · LLTV 86% | 4.45% | 4.91% |
