wstETH / eUSD on Ethereum
A Morpho market on Ethereum where people borrow eUSD against wstETH. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 1.73% a year and borrowers pay 1.89% right now.
Data from Morpho's API · updated
Borrow APY
1.89%
30-day average 2.01%
Supply APY
1.73%
30-day average 1.83%
Supplied
$2.2K
2.18K eUSD
Borrowed
$2.0K
91.4% utilization
Available to borrow
$187
free liquidity right now
Collateral posted
$5.2K
1.57 wstETH
wstETH / eUSD rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
wstETH / eUSD 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 1.84% 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 wstETH collateral could be liquidated if its price fell by each amount
Based on today's loans and today's wstETH price in eUSD. 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 |
| wstETH price in eUSD | 3.35K eUSD |
| Oracle | ChainlinkOracleV20xBC69…3AC5 |
| Price feeds | 0x905b…1421 0xCfE5…b4a8 |
| 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 | eUSDprice $0.9987 |
|---|---|
| Collateral | wstETHprice $3.3K |
| Borrow APY, last year | 28.33% |
| Borrowers | 10 |
| Created | July 18, 2024 |
| Market ID | 0x6029eea8…f6fa23 |
| Rate model | 0x870a…00BC |
| wstETH token | 0x7f39…2Ca0 |
| eUSD token | 0xA0d6…482F |
Vaults lending here
$2.2K of the $2.2K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Gauntlet eUSD Corelends directly | $2.2K |
Largest borrowers
10 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x6c98…A564 | $2.0K | 2.25 |
| 0xf603…fC18 | $1.00 | 4.54 |
| 0xbaa8…3401 | $0 | 6.75 |
| 0x091A…827e | $0 | >99 |
| 0xD6Cb…6F9d | $0 | 0.08 |
| 0xA9dd…A473 | $0 | 0.67 |
| 0x90f3…6476 | $0 | >99 |
| 0xfAeb…Ec05 | $0 | >99 |
| 0x8d4E…13a6 | $0 | >99 |
| 0x407C…b95c | $0 | 7.84 |
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 wstETH / eUSD market
The wstETH / eUSD market on Ethereum was created on July 18, 2024. Anyone can lend eUSD into it, and anyone holding wstETH can borrow that eUSD against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $2.2K is supplied and $2.0K borrowed, so 91.4% of the market is in use, backed by $5.2K of wstETH from 10 borrowers. Borrowers pay 1.89% a year, 2.01% on average over the last 30 days and 28.33% over the last year. Lenders earn 1.73%.
1 listed vault lends here, providing $2.2K of the supply; the largest is Gauntlet eUSD Core. Liquidators who close an unsafe loan here receive a 4.38% bonus in wstETH.
wstETH / eUSD on Ethereum: quick answers
What is the eUSD borrow rate against wstETH on Morpho Ethereum?
In this market it is 1.89% a year right now, and it averaged 2.01% over the last 30 days. The rate is variable: it follows how much of the market's eUSD is borrowed, rising quickly above 90%.
When is a wstETH / eUSD 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 wstETH worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if wstETH fell to about 1.95K eUSD.
How much eUSD can be borrowed here right now?
$187 is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the wstETH / eUSD market?
Lenders earn 1.73% a year right now (1.83% averaged over 30 days). Most lend through vaults, such as Gauntlet eUSD Core, which spread deposits across several markets.
More ways to borrow against wstETH
Other loan assets with wstETH as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| wstETH / USDTEthereum · LLTV 86% | 4.15% | 4.58% |
| wstETH / WETHEthereum · LLTV 96.5% | 2.01% | 2.22% |
| wstETH / WETHMonad · LLTV 94.5% | 1.54%+1.50% rewards | 1.71% |
| wstETH / WETHEthereum · LLTV 94.5% | 1.62% | 1.82% |
| wstETH / USDCEthereum · LLTV 86% | 4.50% | 5.00% |
| wstETH / USDCEthereum · LLTV 86% | 4.57% | 5.08% |
