weETH / vbUSDT on Katana (77% LLTV)
A Morpho market on Katana where people borrow vbUSDT against weETH. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 16.08% a year and borrowers pay 17.40% right now.
Data from Morpho's API · updated
Borrow APY
17.40%
30-day average 9.52%
Supply APY
16.08%
30-day average 9.06%
Supplied
$12.6K
12.60K vbUSDT
Borrowed
$11.7K
92.9% utilization
Available to borrow
$890
free liquidity right now
Collateral posted
$24.1K
10.83 weETH
weETH / vbUSDT rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
weETH / vbUSDT 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 8.91% 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 weETH collateral could be liquidated if its price fell by each amount
Based on today's loans and today's weETH price in vbUSDT. 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 |
| weETH price in vbUSDT | 2.23K vbUSDTthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20xE892…8364 |
| Price feeds | 0xe8D9…6FB2 0x7BdB…8eEE 0xF03E…ec78 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | vbUSDTprice $0.9992 |
|---|---|
| Collateral | weETHprice $2.2K |
| Borrow APY, last year | 2.38% |
| Borrowers | 3 |
| Created | August 7, 2025 |
| Market ID | 0xa6ce5929…b0485a |
| Rate model | 0x4F70…B428 |
| weETH token | 0x9893…19a7 |
| vbUSDT token | 0x2DCa…D2F2 |
Vaults lending here
No listed vault lends to this market right now
Largest borrowers
3 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x6F4F…34fB | $7.5K | 1.55 |
| 0xbbFf…191D | $4.2K | 1.65 |
| 0x9845…173d | $0 | 3.30 |
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 weETH / vbUSDT market
The weETH / vbUSDT market on Katana was created on August 7, 2025. Anyone can lend vbUSDT into it, and anyone holding weETH can borrow that vbUSDT against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $12.6K is supplied and $11.7K borrowed, so 92.9% of the market is in use, backed by $24.1K of weETH from 3 borrowers. Borrowers pay 17.40% a year, 9.52% on average over the last 30 days and 2.38% over the last year. Lenders earn 16.08%.
No listed vault lends to this market right now, so its supply comes from direct lenders. Liquidators who close an unsafe loan here receive a 7.41% bonus in weETH.
weETH / vbUSDT (77% LLTV) on Katana: quick answers
What is the vbUSDT borrow rate against weETH on Morpho Katana?
In this market it is 17.40% a year right now, and it averaged 9.52% over the last 30 days. The rate is variable: it follows how much of the market's vbUSDT is borrowed, rising quickly above 90%.
When are weETH / vbUSDT 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 weETH worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if weETH fell to about 1.45K vbUSDT.
How much vbUSDT can be borrowed here right now?
$890 is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the weETH / vbUSDT market?
Lenders earn 16.08% a year right now (9.06% averaged over 30 days). No listed vault lends here, so the supply comes from people lending directly.
Other weETH / vbUSDT markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| weETH / vbUSDTKatana · LLTV 86% | 2.43% | 2.83% |
More ways to borrow against weETH
Other loan assets with weETH as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| weETH / RLUSDEthereum · LLTV 86% | 3.44% | 4.07% |
| weETH / USDCEthereum · LLTV 86% | 4.47% | 5.31% |
| weETH / PYUSDEthereum · LLTV 86% | 4.29% | 4.96% |
| weETH / PYUSDStable · LLTV 86% | 3.22% | 3.58% |
| weETH / WETHEthereum · LLTV 94.5% | 3.02% | 3.30% |
| weETH / vbETHKatana · LLTV 91.5% | 1.82% | 2.04%−0.25% rewards |
