UBTC / USDe on HyperEVM
A Morpho market on HyperEVM where people borrow USDe against UBTC. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 7.35% a year and borrowers pay 8.58% right now.
Data from Morpho's API · updated
Borrow APY
8.58%
30-day average 9.55%
Supply APY
7.35%
30-day average 8.32%
Supplied
$284K
283.94K USDe
Borrowed
$245K
86.2% utilization
Available to borrow
$39.2K
free liquidity right now
Collateral posted
$434K
6.04 UBTC
UBTC / USDe rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
UBTC / USDe 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 8.87% 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 UBTC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's UBTC price in USDe. 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 |
| UBTC price in USDe | 71.77K USDethe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x6254…4bB8 |
| Price feeds | 0x7d05…Ad5A 0xcA72…c22d |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDeprice $0.9994 |
|---|---|
| Collateral | UBTCprice $71.8K |
| Borrow APY, last year | 7.27% |
| Borrowers | 99 |
| Created | May 9, 2025 |
| Market ID | 0x5fe3ac84…deb94c |
| Rate model | 0xD4a4…7483 |
| UBTC token | 0x9FDB…3463 |
| USDe token | 0x5d3a…ef34 |
Vaults lending here
$35.3K of the $284K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Felix USDe V2V2lends directly | $35.3K |
Largest borrowers
99 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x6aE8…202c | $114K | 1.49 |
| 0x197E…f5F0 | $63.3K | 1.60 |
| 0x2bCE…73F1 | $28.9K | 1.42 |
| 0x5aE2…ea0c | $13.9K | 1.29 |
| 0x549D…9C2C | $9.0K | 1.64 |
| 0x61e6…DFae | $3.6K | 1.59 |
| 0x03B9…1583 | $3.1K | 3.46 |
| 0x80D7…7036 | $2.1K | 2.39 |
| 0xB056…af9F | $1.3K | 1.74 |
| 0x5A49…0f18 | $1.3K | 1.80 |
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 UBTC / USDe market
The UBTC / USDe market on HyperEVM was created on May 9, 2025. Anyone can lend USDe into it, and anyone holding UBTC can borrow that USDe against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $284K is supplied and $245K borrowed, so 86.2% of the market is in use, backed by $434K of UBTC from 99 borrowers. Borrowers pay 8.58% a year, 9.55% on average over the last 30 days and 7.27% over the last year. Lenders earn 7.35%.
1 listed vault lends here, providing $35.3K of the supply; the largest is Felix USDe V2. Liquidators who close an unsafe loan here receive a 7.41% bonus in UBTC.
UBTC / USDe on HyperEVM: quick answers
What is the USDe borrow rate against UBTC on Morpho HyperEVM?
In this market it is 8.58% a year right now, and it averaged 9.55% over the last 30 days. The rate is variable: it follows how much of the market's USDe is borrowed, rising quickly above 90%.
When are UBTC / USDe loans liquidated?
When a loan reaches 77% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes UBTC worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if UBTC fell to about 46.60K USDe.
How much USDe can be borrowed here right now?
$39.2K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the UBTC / USDe market?
Lenders earn 7.35% a year right now (8.32% averaged over 30 days). Vaults provide 12% of the supply here (Felix USDe V2); the rest comes from people lending directly.
More ways to borrow against UBTC
Other loan assets with UBTC as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| UBTC / USD₮0HyperEVM · LLTV 77% | 6.97% | 8.00% |
| UBTC / USDCHyperEVM · LLTV 77% | 4.64% | 5.73% |
| UBTC / USD₮0HyperEVM · LLTV 86% | 7.34% | 8.18% |
| UBTC / USDHLHyperEVM · LLTV 77% | 15.67% | 25.81% |
