weETH / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against weETH. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 4.59% a year and borrowers pay 5.10% right now.
Data from Morpho's API · updated
Borrow APY
5.10%
30-day average 4.84%
Supply APY
4.59%
30-day average 4.35%
Supplied
$929K
929.56K USDC
Borrowed
$839K
90.2% utilization
Available to borrow
$90.6K
free liquidity right now
Collateral posted
$1.98M
668.43 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 4.74% 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) | 86%fixed for the life of the market |
|---|---|
| Liquidation bonus | 4.38%extra collateral a liquidator receives |
| weETH price in USDC | 2.97K USDC |
| Oracle | ChainlinkOracleV20x5635…6A68 |
| Price feeds | 0xdDb6…1136 |
| Market fee | Noneshare of interest taken by the protocol |
| Pre-liquidation | Availableborrowers can opt in to gentler, earlier liquidations from 83.26% LTV |
Details
| Loan asset | USDCprice $0.9999 |
|---|---|
| Collateral | weETHprice $3.0K |
| Borrow APY, last year | 4.61% |
| Borrowers | 22 |
| Created | September 23, 2024 |
| Market ID | 0x61765602…2bf664 |
| Rate model | 0x870a…00BC |
| weETH token | 0xCd5f…b7ee |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$929K of the $929K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Steakhouse High Yield USDCV2lends directly | $819K |
| Gauntlet USDC FrontierV2lends directly | $56.7K |
| Smokehouse USDClends directly | $43.2K |
| Yearn OG USDClends directly | $10.6K |
| Gauntlet USDC Corelends directly | $369 |
Largest borrowers
22 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x0206…4e21 | $325K | 1.80 |
| 0x40e0…A3A3 | $138K | 2.55 |
| 0xD707…3E05 | $117K | 1.98 |
| 0xE558…8b22 | $81.8K | 2.48 |
| 0x5964…0CA9 | $69.4K | 1.11 |
| 0xf841…384D | $53.2K | 2.44 |
| 0xc7F8…2dF1 | $32.7K | 2.10 |
| 0x6B49…E689 | $7.3K | 3.48 |
| 0x3Dd2…b8db | $4.6K | 2.01 |
| 0xCD90…f812 | $3.8K | 2.07 |
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 September 23, 2024. Anyone can lend USDC into it, and anyone holding weETH 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 $929K is supplied and $839K borrowed, so 90.2% of the market is in use, backed by $1.98M of weETH from 22 borrowers. Borrowers pay 5.10% a year, 4.84% on average over the last 30 days and 4.61% over the last year. Lenders earn 4.59%.
5 listed vaults lend here, providing $929K of the supply; the largest are Steakhouse High Yield USDC, Gauntlet USDC Frontier and Smokehouse USDC. Liquidators who close an unsafe loan here receive a 4.38% bonus in weETH. If weETH fell 20% against USDC, about $89.4K of collateral would be at risk of liquidation.
weETH / USDC 86% (617656) on Ethereum: quick answers
What is the USDC borrow rate against weETH on Morpho Ethereum?
In this market it is 5.10% a year right now, and it averaged 4.84% 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 86% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes weETH worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if weETH fell to about 1.72K USDC.
How much USDC can be borrowed here right now?
$90.6K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the weETH / USDC market?
Lenders earn 4.59% a year right now (4.35% averaged over 30 days). Most lend through vaults, such as Steakhouse High Yield USDC, Gauntlet USDC Frontier and Smokehouse 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 77% | 13.40% | 13.86% |
| 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% |
