kHYPE / USDC on HyperEVM
A Morpho market on HyperEVM where people borrow USDC against kHYPE. A loan can be liquidated once it reaches 62.5% of the collateral's value. Lenders earn 4.20% a year and borrowers pay 5.51% right now.
Data from Morpho's API · updated
Borrow APY
5.51%
30-day average 7.13%
Supply APY
4.20%
30-day average 6.04%
Supplied
$10.64M
10.64M USDC
Borrowed
$8.16M
76.7% utilization
Available to borrow
$2.47M
free liquidity right now
Collateral posted
$42.34M
450.34K kHYPE
kHYPE / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
kHYPE / 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 6.21% 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 kHYPE collateral could be liquidated if its price fell by each amount
Based on today's loans and today's kHYPE price in USDC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 62.5%fixed for the life of the market |
|---|---|
| Liquidation bonus | 12.68%extra collateral a liquidator receives |
| kHYPE price in USDC | 94.03 USDC |
| Oracle | ChainlinkOracleV20xe876…8469 |
| Price feeds | 0xFfe5…fB47 0xa8a9…aa43 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9999 |
|---|---|
| Collateral | kHYPEprice $94.02 |
| Borrow APY, last year | 8.31% |
| Borrowers | 540 |
| Created | September 12, 2025 |
| Market ID | 0xe7aa0468…d2349b |
| Rate model | 0xD4a4…7483 |
| kHYPE token | 0xfD73…296D |
| USDC token | 0xb883…630f |
Vaults lending here
$9.05M of the $10.64M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Felix USDC V2V2lends directly | $4.10M |
| Felix USDClends directly | $3.39M |
| Gauntlet USDClends directly | $1.56M |
Largest borrowers
540 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x6525…046d | $1.31M | 7.95 |
| 0x0f79…07C5 | $1.15M | 1.46 |
| 0xbB1A…90A7 | $990K | 2.68 |
| 0x6a9e…41c2 | $711K | 2.49 |
| 0x4801…4A0B | $651K | 1.60 |
| 0xEB36…9a02 | $500K | 2.95 |
| 0x2F04…15d7 | $421K | 1.25 |
| 0xA4Be…90aa | $347K | 2.12 |
| 0xEad5…69F2 | $308K | 3.94 |
| 0x3BD6…278B | $274K | 1.97 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
1 in the last 30 days, $163 of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $163163.03 USDC | 0x9226…764c | |
| $83.6983.70 USDC | 0xeb93…64e3 |
About the kHYPE / USDC market
The kHYPE / USDC market on HyperEVM was created on September 12, 2025. Anyone can lend USDC into it, and anyone holding kHYPE can borrow that USDC against it, up to a loan-to-value of 62.5% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $10.64M is supplied and $8.16M borrowed, so 76.7% of the market is in use, backed by $42.34M of kHYPE from 540 borrowers. Borrowers pay 5.51% a year, 7.13% on average over the last 30 days and 8.31% over the last year. Lenders earn 4.20%.
3 listed vaults lend here, providing $9.05M of the supply; the largest are Felix USDC V2, Felix USDC and Gauntlet USDC. Liquidators who close an unsafe loan here receive a 12.68% bonus in kHYPE. If kHYPE fell 20% against USDC, about $28.2K of collateral would be at risk of liquidation. 1 loan was liquidated here in the last 30 days.
kHYPE / USDC 62.5% on HyperEVM: quick answers
What is the USDC borrow rate against kHYPE on Morpho HyperEVM?
In this market it is 5.51% a year right now, and it averaged 7.13% 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 kHYPE / USDC loan liquidated?
When the loan reaches 62.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes kHYPE worth 12.68% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if kHYPE fell to about 75.22 USDC.
How much USDC can be borrowed here right now?
$2.47M is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the kHYPE / USDC market?
Lenders earn 4.20% a year right now (6.04% averaged over 30 days). Most lend through vaults, such as Felix USDC V2, Felix USDC and Gauntlet USDC, which spread deposits across several markets.
Other kHYPE / USDC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| kHYPE / USDCHyperEVM · LLTV 77% | 4.23% | 5.51% |
More ways to borrow against kHYPE
Other loan assets with kHYPE as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| kHYPE / WHYPEHyperEVM · LLTV 86% | 6.00% | 6.44% |
| kHYPE / USD₮0HyperEVM · LLTV 62.5% | 15.16% | 16.33% |
| kHYPE / USD₮0HyperEVM · LLTV 77% | 15.34% | 16.51% |
| kHYPE / USDHLHyperEVM · LLTV 62.5% | 39.81% | 39.81% |
