wJAAA / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against wJAAA. A loan can be liquidated once it reaches 98% of the collateral's value. Lenders earn 3.90% a year and borrowers pay 4.34% right now.
Data from Morpho's API · updated
Borrow APY
4.34%
30-day average 4.34%
Supply APY
3.90%
30-day average 3.91%
Supplied
$2.23M
2.23M USDC
Borrowed
$2.00M
90.1% utilization
Available to borrow
$221K
free liquidity right now
Collateral posted
$2.28M
2.16M wJAAA
wJAAA / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
wJAAA / 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 4.23% 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 wJAAA collateral could be liquidated if its price fell by each amount
Based on today's loans and today's wJAAA price in USDC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 98%fixed for the life of the market |
|---|---|
| Liquidation bonus | 0.60%extra collateral a liquidator receives |
| wJAAA price in USDC | 1.06 USDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x2E4e…D886 |
| Price feeds | 0x5A4B…ed04 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | wJAAAprice $1.0560 |
| Borrowers | 8 |
| Created | April 14, 2026 |
| Market ID | 0xb55c0ebe…5163e2 |
| Rate model | 0x870a…00BC |
| wJAAA token | 0x86b4…eBFE |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$2.23M of the $2.23M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| 3F x Steakhouse USDCV2lends directly | $2.23M |
Largest borrowers
8 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xA67A…09E9 | $1.40M | 1.12 |
| 0xa262…477F | $538K | 1.09 |
| 0xE9fE…5a28 | $30.4K | 1.14 |
| 0x1ce5…E682 | $13.4K | 1.22 |
| 0x0B40…89d4 | $8.3K | 1.12 |
| 0x23B1…d87a | $7.0K | 1.31 |
| 0xc406…d4D6 | $2.1K | 1.47 |
| 0x45c5…26D8 | $1.1K | 1.96 |
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 wJAAA / USDC market
The wJAAA / USDC market on Ethereum was created on April 14, 2026. Anyone can lend USDC into it, and anyone holding wJAAA can borrow that USDC against it, up to a loan-to-value of 98% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $2.23M is supplied and $2.00M borrowed, so 90.1% of the market is in use, backed by $2.28M of wJAAA from 8 borrowers. Borrowers pay 4.34% a year, 4.34% on average over the last 30 days. Lenders earn 3.90%.
1 listed vault lends here, providing $2.23M of the supply; the largest is 3F x Steakhouse USDC. Liquidators who close an unsafe loan here receive a 0.60% bonus in wJAAA. If wJAAA fell 20% against USDC, about $2.26M of collateral would be at risk of liquidation.
wJAAA / USDC on Ethereum: quick answers
What is the USDC borrow rate against wJAAA on Morpho Ethereum?
In this market it is 4.34% a year right now, and it averaged 4.34% 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 wJAAA / USDC loans liquidated?
When a loan reaches 98% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes wJAAA worth 0.60% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if wJAAA fell to about 0.538 USDC.
How much USDC can be borrowed here right now?
$221K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the wJAAA / USDC market?
Lenders earn 3.90% a year right now (3.91% averaged over 30 days). Most lend through vaults, such as 3F x Steakhouse USDC, which spread deposits across several markets.