weETH / vbUSDT on Katana
A Morpho market on Katana where people borrow vbUSDT against weETH. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 3.80% a year and borrowers pay 4.97% right now.
Data from Morpho's API · updated
Borrow APY
4.97%
30-day average 6.80%
Supply APY
3.80%
30-day average 6.09%
Supplied
$1.02M
1.02M vbUSDT
Borrowed
$786K
76.9% utilization
Available to borrow
$236K
up to $237K with vault liquidity
Collateral posted
$1.22M
410.52 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 5.56% 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) | 86%fixed for the life of the market |
|---|---|
| Liquidation bonus | 4.38%extra collateral a liquidator receives |
| weETH price in vbUSDT | 2.97K vbUSDT |
| Oracle | ChainlinkOracleV20xE892…8364 |
| Price feeds | 0xe8D9…6FB2 0x7BdB…8eEE 0xF03E…ec78 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | vbUSDTprice $0.9999 |
|---|---|
| Collateral | weETHprice $3.0K |
| Borrowers | 4 |
| Created | March 30, 2026 |
| Market ID | 0xbb4fb94c…588caf |
| Rate model | 0x4F70…B428 |
| weETH token | 0x9893…19a7 |
| vbUSDT token | 0x2DCa…D2F2 |
Vaults lending here
$870K of the $1.02M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Yearn OG USDTV2lends directly | $438K |
| Clearstar Core USDTV2lends directly | $432K |
Largest borrowers
4 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x13F2…AF12 | $762K | 1.32 |
| 0x97b4…3Bf6 | $20.6K | 1.84 |
| 0x19f1…c4B5 | $2.3K | 1.51 |
| 0x93d5…3396 | $1.0K | 2.17 |
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
About the weETH / vbUSDT market
The weETH / vbUSDT market on Katana was created on March 30, 2026. Anyone can lend vbUSDT into it, and anyone holding weETH can borrow that vbUSDT against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $1.02M is supplied and $786K borrowed, so 76.9% of the market is in use, backed by $1.22M of weETH from 4 borrowers. Borrowers pay 4.97% a year, 6.80% on average over the last 30 days. Lenders earn 3.80%.
2 listed vaults lend here, providing $870K of the supply; the largest are Yearn OG USDT and Clearstar Core USDT. Liquidators who close an unsafe loan here receive a 4.38% bonus in weETH.
weETH / vbUSDT 86% on Katana: quick answers
What is the vbUSDT borrow rate against weETH on Morpho Katana?
In this market it is 4.97% a year right now, and it averaged 6.80% 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 is a weETH / vbUSDT loan liquidated?
When the loan reaches 86% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes weETH worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if weETH fell to about 1.72K vbUSDT.
How much vbUSDT can be borrowed here right now?
$236K is free in the market, and vaults can move in up to $400 more through Morpho's public allocator, for about $237K in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the weETH / vbUSDT market?
Lenders earn 3.80% a year right now (6.09% averaged over 30 days). Most lend through vaults, such as Yearn OG USDT and Clearstar Core USDT, which spread deposits across several markets.
Other weETH / vbUSDT markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| weETH / vbUSDTKatana · LLTV 77% | 0.72% | 0.79% |
More ways to borrow against weETH
Other loan assets with weETH as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| weETH / RLUSDEthereum · LLTV 86% | 3.77% | 4.20% |
| weETH / PYUSDEthereum · LLTV 86% | 5.28% | 5.84% |
| weETH / WETHEthereum · LLTV 94.5% | 1.95% | 2.16% |
| weETH / USDCEthereum · LLTV 86% | 4.49% | 5.00% |
| weETH / vbETHKatana · LLTV 91.5% | 8.50% | 8.73% |
| weETH / USDTEthereum · LLTV 86% | 4.61% | 5.07% |
