wsrUSD / USDC on Ethereum (94.5% LLTV)
A Morpho market on Ethereum where people borrow USDC against wsrUSD. A loan can be liquidated once it reaches 94.5% of the collateral's value. Lenders earn 5.06% a year and borrowers pay 5.76% right now.
Data from Morpho's API · updated
Borrow APY
5.76%
30-day average 6.04%
Supply APY
5.06%
30-day average 5.29%
Supplied
$6.94M
6.94M USDC
Borrowed
$6.12M
88.2% utilization
Available to borrow
$817K
up to $1.01M with vault liquidity
Collateral posted
$7.26M
6.56M wsrUSD
wsrUSD / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
wsrUSD / 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 5.85% 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 wsrUSD collateral could be liquidated if its price fell by each amount
Based on today's loans and today's wsrUSD price in USDC. 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 |
| wsrUSD price in USDC | 1.11 USDCthe market's oracle, which liquidations follow |
| Oracle | Unknown0x938D…Da15 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | wsrUSDprice $1.1068 |
| Borrowers | 14 |
| Created | January 8, 2026 |
| Market ID | 0x1590cb22…8272fb |
| Rate model | 0x870a…00BC |
| wsrUSD token | 0xd3fD…3094 |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$6.75M of the $6.94M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Waterline Reservoir USDCV2lends directly | $6.26M |
| Waterline Reservoir USDClends directly | $498K |
Largest borrowers
14 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x4c5A…8C31 | $4.33M | 1.05 |
| 0xe938…fB5F | $1.98M | 1.24 |
| 0x6f66…8C40 | $91.9K | 1.06 |
| 0xf6cD…f76E | $6.3K | 4.32 |
| 0xE473…D9b2 | $6.0K | 2.42 |
| 0xAc9c…0E67 | $133 | 1.06 |
| 0x09eF…3e1f | $72.00 | 1.02 |
| 0x8ef3…13B7 | $7.00 | 1.08 |
| 0xd4F4…8118 | $4.00 | 1.16 |
| 0x89ED…AEB2 | $3.00 | 1.38 |
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 wsrUSD / USDC market
The wsrUSD / USDC market on Ethereum was created on January 8, 2026. Anyone can lend USDC into it, and anyone holding wsrUSD can borrow that USDC against it, up to a loan-to-value of 94.5% (its LLTV), where liquidation starts. Prices come from a custom oracle; check its source before borrowing or lending.
Right now $6.94M is supplied and $6.12M borrowed, so 88.2% of the market is in use, backed by $7.26M of wsrUSD from 14 borrowers. Borrowers pay 5.76% a year, 6.04% on average over the last 30 days. Lenders earn 5.06%.
2 listed vaults lend here, providing $6.75M of the supply; the largest are Waterline Reservoir USDC and Waterline Reservoir USDC. Liquidators who close an unsafe loan here receive a 1.68% bonus in wsrUSD. If wsrUSD fell 20% against USDC, about $4.91M of collateral would be at risk of liquidation.
wsrUSD / USDC (94.5% LLTV) on Ethereum: quick answers
What is the USDC borrow rate against wsrUSD on Morpho Ethereum?
In this market it is 5.76% a year right now, and it averaged 6.04% 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 wsrUSD / USDC loans liquidated?
When a loan reaches 94.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes wsrUSD worth 1.68% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if wsrUSD fell to about 0.586 USDC.
How much USDC can be borrowed here right now?
$817K is free in the market, and vaults can move in up to $191K more through Morpho's public allocator, for about $1.01M in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the wsrUSD / USDC market?
Lenders earn 5.06% a year right now (5.29% averaged over 30 days). Most lend through vaults, such as Waterline Reservoir USDC and Waterline Reservoir USDC, which spread deposits across several markets.
Other wsrUSD / USDC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| wsrUSD / USDCEthereum · LLTV 91.5% | 3.94% | 4.41% |
