kHYPE / WHYPE on HyperEVM
A Morpho market on HyperEVM where people borrow WHYPE against kHYPE. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 0.70% a year and borrowers pay 0.83% right now.
Data from Morpho's API · updated
Borrow APY
0.83%
30-day average 0.92%
Supply APY
0.70%
30-day average 0.66%
Supplied
$4.77M
66.92K WHYPE
Borrowed
$4.05M
85.0% utilization
Available to borrow
$716K
free liquidity right now
Collateral posted
$5.69M
78.34K kHYPE
kHYPE / WHYPE rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
kHYPE / WHYPE 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 0.86% 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 WHYPE. 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 |
| kHYPE price in WHYPE | 1.03 WHYPEthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x3cD1…97Cb |
| Price feeds | 0xFfe5…fB47 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | WHYPEprice $71.21 |
|---|---|
| Collateral | kHYPEprice $72.68 |
| Borrow APY, last year | 1.66% |
| Borrowers | 821 |
| Created | July 14, 2025 |
| Market ID | 0x64e7db7f…adfddc |
| Rate model | 0xD4a4…7483 |
| kHYPE token | 0xfD73…296D |
| WHYPE token | 0x5555…5555 |
Vaults lending here
$4.75M of the $4.77M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Felix HYPE V2V2lends directly | $2.64M |
| Felix HYPElends directly | $1.80M |
| MEV Capital HYPElends directly | $303K |
| MEV Capital HYPEV2lends directly | $633 |
Largest borrowers
821 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x9466…40FF | $2.10M | 1.00 |
| 0xdF32…d37b | $292K | 1.03 |
| 0x2385…0769 | $252K | 1.05 |
| 0x177D…0ee0 | $193K | 2.50 |
| 0x3F88…2FA4 | $174K | 1.05 |
| 0x095c…68A9 | $116K | 1.06 |
| 0xD10E…ee78 | $81.6K | 1.03 |
| 0x6363…3fF8 | $77.5K | 2.15 |
| 0xcCdD…2406 | $53.2K | 1.11 |
| 0x2f4F…b9E6 | $50.8K | 1.17 |
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
| When | Debt repaid | Transaction |
|---|---|---|
| $214K2.32K WHYPE | 0xd97d…f0ba |
About the kHYPE / WHYPE market
The kHYPE / WHYPE market on HyperEVM was created on July 14, 2025. Anyone can lend WHYPE into it, and anyone holding kHYPE can borrow that WHYPE against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $4.77M is supplied and $4.05M borrowed, so 85.0% of the market is in use, backed by $5.69M of kHYPE from 821 borrowers. Borrowers pay 0.83% a year, 0.92% on average over the last 30 days and 1.66% over the last year. Lenders earn 0.70%.
4 listed vaults lend here, providing $4.75M of the supply; the largest are Felix HYPE V2, Felix HYPE and MEV Capital HYPE. Liquidators who close an unsafe loan here receive a 4.38% bonus in kHYPE. If kHYPE fell 20% against WHYPE, about $4.33M of collateral would be at risk of liquidation.
kHYPE / WHYPE on HyperEVM: quick answers
What is the WHYPE borrow rate against kHYPE on Morpho HyperEVM?
In this market it is 0.83% a year right now, and it averaged 0.92% over the last 30 days. The rate is variable: it follows how much of the market's WHYPE is borrowed, rising quickly above 90%.
When are kHYPE / WHYPE loans liquidated?
When a loan reaches 86% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes kHYPE worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if kHYPE fell to about 0.598 WHYPE.
How much WHYPE can be borrowed here right now?
$716K 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 / WHYPE market?
Lenders earn 0.70% a year right now (0.66% averaged over 30 days). Most lend through vaults, such as Felix HYPE V2, Felix HYPE and MEV Capital HYPE, which spread deposits across several markets.
More ways to borrow against kHYPE
Other loan assets with kHYPE as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| kHYPE / USDCHyperEVM · LLTV 77% | 5.05% | 6.00%−0.60% rewards |
| kHYPE / USDCHyperEVM · LLTV 62.5% | 4.76% | 5.77% |
| kHYPE / USD₮0HyperEVM · LLTV 62.5% | 7.09% | 8.06% |
| kHYPE / USD₮0HyperEVM · LLTV 77% | 6.84% | 7.90% |
| kHYPE / USDHLHyperEVM · LLTV 62.5% | 11.45% | 19.57% |
