weETH / WETH on Ethereum
A Morpho market on Ethereum where people borrow WETH against weETH. A loan can be liquidated once it reaches 94.5% of the collateral's value. Lenders earn 1.95% a year and borrowers pay 2.16% right now.
Data from Morpho's API · updated
Borrow APY
2.16%
30-day average 1.94%
Supply APY
1.95%
30-day average 1.72%
Supplied
$19.98M
7.44K WETH
Borrowed
$18.07M
90.4% utilization
Available to borrow
$1.91M
free liquidity right now
Collateral posted
$20.07M
6.77K weETH
weETH / WETH rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
weETH / WETH 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 1.91% 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 WETH. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 94.5%fixed for the life of the market |
|---|---|
| Liquidation bonus | 1.68%extra collateral a liquidator receives |
| weETH price in WETH | 1.10 WETH |
| Oracle | ChainlinkOracleV20xbDd2…8a72 |
| Price feeds | 0x4270…F828 |
| Market fee | Noneshare of interest taken by the protocol |
| Pre-liquidation | Availableborrowers can opt in to gentler, earlier liquidations from 93.37% LTV |
Details
| Loan asset | WETHprice $2.7K |
|---|---|
| Collateral | weETHprice $3.0K |
| Borrow APY, last year | 2.34% |
| Borrowers | 44 |
| Created | September 23, 2024 |
| Market ID | 0x37e7484d…472ba7 |
| Rate model | 0x870a…00BC |
| weETH token | 0xCd5f…b7ee |
| WETH token | 0xC02a…6Cc2 |
Vaults lending here
$18.51M of the $19.98M supplied comes from these vaults
Largest borrowers
44 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x5ceD…4B27 | $4.79M | 1.02 |
| 0xd758…5Fda | $3.62M | 1.04 |
| 0xb554…1dAB | $2.68M | 1.15 |
| 0x462a…31d0 | $1.46M | 1.05 |
| 0x4b44…a1a0 | $1.33M | 1.01 |
| 0x6EFc…1177 | $1.27M | 1.01 |
| 0x0e28…4cFE | $937K | 1.04 |
| 0x7FeF…3Ef4 | $618K | 1.07 |
| 0xfB74…B6C0 | $257K | 1.01 |
| 0x8932…94dB | $212K | 1.05 |
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 / WETH market
The weETH / WETH market on Ethereum was created on September 23, 2024. Anyone can lend WETH into it, and anyone holding weETH can borrow that WETH against it, up to a loan-to-value of 94.5% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $19.98M is supplied and $18.07M borrowed, so 90.4% of the market is in use, backed by $20.07M of weETH from 44 borrowers. Borrowers pay 2.16% a year, 1.94% on average over the last 30 days and 2.34% over the last year. Lenders earn 1.95%.
11 listed vaults lend here, providing $18.51M of the supply; the largest are Gauntlet WETH Prime, Steakhouse Prime ETH and Uniswap ETH. Liquidators who close an unsafe loan here receive a 1.68% bonus in weETH. If weETH fell 20% against WETH, about $20.09M of collateral would be at risk of liquidation.
weETH / WETH 94.5% on Ethereum: quick answers
What is the WETH borrow rate against weETH on Morpho Ethereum?
In this market it is 2.16% a year right now, and it averaged 1.94% over the last 30 days. The rate is variable: it follows how much of the market's WETH is borrowed, rising quickly above 90%.
When is a weETH / WETH loan liquidated?
When the loan reaches 94.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes weETH worth 1.68% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if weETH fell to about 0.584 WETH.
How much WETH can be borrowed here right now?
$1.91M 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 / WETH market?
Lenders earn 1.95% a year right now (1.72% averaged over 30 days). Most lend through vaults, such as Gauntlet WETH Prime, Steakhouse Prime ETH and Uniswap ETH, which spread deposits across several markets.
Other weETH / WETH markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| weETH / WETHBase · LLTV 94.5% | 2.39% | 2.62% |
| weETH / WETHBase · LLTV 91.5% | 1.55% | 2.07% |
| weETH / WETHEthereum · LLTV 86% | 0.09% | 0.10% |
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 / USDCEthereum · LLTV 86% | 4.49% | 5.00% |
| 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% |
