YFI / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against YFI. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 8.55% a year and borrowers pay 9.51% right now.
Data from Morpho's API · updated
Borrow APY
9.51%
30-day average 9.20%
Supply APY
8.55%
30-day average 8.06%
Supplied
$313K
313.04K USDC
Borrowed
$283K
90.3% utilization
Available to borrow
$30.5K
up to $72.0K with vault liquidity
Collateral posted
$545K
220.14 YFI
YFI / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
YFI / 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 8.85% 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 YFI collateral could be liquidated if its price fell by each amount
Based on today's loans and today's YFI price in USDC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 77%fixed for the life of the market |
|---|---|
| Liquidation bonus | 7.41%extra collateral a liquidator receives |
| YFI price in USDC | 2.48K USDC |
| Oracle | ChainlinkOracleV20x6370…4Ad5 |
| Price feeds | 0xA027…b0E1 0x8fFf…18f6 |
| Market fee | Noneshare of interest taken by the protocol |
| Pre-liquidation | Availableborrowers can opt in to gentler, earlier liquidations from 72.74% LTV |
Details
| Loan asset | USDCprice $0.9999 |
|---|---|
| Collateral | YFIprice $2.5K |
| Borrow APY, last year | 8.28% |
| Borrowers | 2 |
| Created | September 23, 2025 |
| Market ID | 0x973e9dd4…1d0c83 |
| Rate model | 0x870a…00BC |
| YFI token | 0x0bc5…d93e |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$158K of the $313K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Yearn OG USDClends directly | $158K |
Largest borrowers
2 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xFa4E…6721 | $282K | 1.50 |
| 0xB16d…4746 | $170 | 1.75 |
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 YFI / USDC market
The YFI / USDC market on Ethereum was created on September 23, 2025. Anyone can lend USDC into it, and anyone holding YFI can borrow that USDC against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $313K is supplied and $283K borrowed, so 90.3% of the market is in use, backed by $545K of YFI from 2 borrowers. Borrowers pay 9.51% a year, 9.20% on average over the last 30 days and 8.28% over the last year. Lenders earn 8.55%.
1 listed vault lends here, providing $158K of the supply; the largest is Yearn OG USDC. Liquidators who close an unsafe loan here receive a 7.41% bonus in YFI.
YFI / USDC on Ethereum: quick answers
What is the USDC borrow rate against YFI on Morpho Ethereum?
In this market it is 9.51% a year right now, and it averaged 9.20% 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 YFI / USDC loan liquidated?
When the loan reaches 77% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes YFI worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if YFI fell to about 1.61K USDC.
How much USDC can be borrowed here right now?
$30.5K is free in the market, and vaults can move in up to $41.5K more through Morpho's public allocator, for about $72.0K in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the YFI / USDC market?
Lenders earn 8.55% a year right now (8.06% averaged over 30 days). Most lend through vaults, such as Yearn OG USDC, which spread deposits across several markets.
Other YFI / USDC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| YFI / USDCBase · LLTV 77% | 6.56% | 7.52% |