FXRP / vbUSDC on Katana
A Morpho market on Katana where people borrow vbUSDC against FXRP. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 4.68% a year and borrowers pay 5.50% right now.
Data from Morpho's API · updated
Borrow APY
5.50%
30-day average 6.20%
Supply APY
4.68%
30-day average 5.57%
Supplied
$203K
203.23K vbUSDC
Borrowed
$173K
85.3% utilization
Available to borrow
$29.9K
free liquidity right now
Collateral posted
$258K
250.15K FXRP
FXRP / vbUSDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
FXRP / vbUSDC 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 5.74% 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 FXRP collateral could be liquidated if its price fell by each amount
Based on today's loans and today's FXRP price in vbUSDC. 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 |
| FXRP price in vbUSDC | 1.03 vbUSDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20xDeB9…F516 |
| Price feeds | 0x379b…20Aa 0xbe5C…9606 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | vbUSDCprice $0.9996 |
|---|---|
| Collateral | FXRPprice $1.0293 |
| Borrowers | 2 |
| Created | August 18, 2026 |
| Market ID | 0x1d5c1b45…233683 |
| Rate model | 0x4F70…B428 |
| FXRP token | 0x565F…8059 |
| vbUSDC token | 0x203A…FD36 |
Vaults lending here
$173K of the $203K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Clearstar Core USDCV2lends directly | $173K |
Largest borrowers
2 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xEDb7…374B | $173K | 1.18 |
| 0x2F60…C954 | $0 | >99 |
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 FXRP / vbUSDC market
The FXRP / vbUSDC market on Katana was created on August 18, 2026. Anyone can lend vbUSDC into it, and anyone holding FXRP can borrow that vbUSDC against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $203K is supplied and $173K borrowed, so 85.3% of the market is in use, backed by $258K of FXRP from 2 borrowers. Borrowers pay 5.50% a year, 6.20% on average over the last 30 days. Lenders earn 4.68%.
1 listed vault lends here, providing $173K of the supply; the largest is Clearstar Core USDC. Liquidators who close an unsafe loan here receive a 7.41% bonus in FXRP. If FXRP fell 20% against vbUSDC, about $264K of collateral would be at risk of liquidation.
FXRP / vbUSDC on Katana: quick answers
What is the vbUSDC borrow rate against FXRP on Morpho Katana?
In this market it is 5.50% a year right now, and it averaged 6.20% over the last 30 days. The rate is variable: it follows how much of the market's vbUSDC is borrowed, rising quickly above 90%.
When are FXRP / vbUSDC 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 FXRP worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if FXRP fell to about 0.669 vbUSDC.
How much vbUSDC can be borrowed here right now?
$29.9K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the FXRP / vbUSDC market?
Lenders earn 4.68% a year right now (5.57% averaged over 30 days). Most lend through vaults, such as Clearstar Core USDC, which spread deposits across several markets.
More ways to borrow against FXRP
Other loan assets with FXRP as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| FXRP / RLUSDEthereum · LLTV 77% | 3.64% | 4.99% |
| FXRP / vbUSDTKatana · LLTV 77% | 5.42% | 6.01% |
