yvAUSD / vbUSDC on Katana
A Morpho market on Katana where people borrow vbUSDC against yvAUSD. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 5.12% a year and borrowers pay 6.19% right now.
Data from Morpho's API · updated
Borrow APY
6.19%
30-day average 7.73%
Supply APY
5.12%
30-day average 6.88%
Supplied
$1.6K
1.57K vbUSDC
Borrowed
$1.3K
83.0% utilization
Available to borrow
$266
up to $7.9K with vault liquidity
Collateral posted
$1.8K
1.68K yvAUSD
yvAUSD / vbUSDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
yvAUSD / 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 6.52% 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 yvAUSD collateral could be liquidated if its price fell by each amount
Based on today's loans and today's yvAUSD price in vbUSDC. 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 |
| yvAUSD price in vbUSDC | 1.05 vbUSDC |
| Oracle | ChainlinkOracleV20x2c62…e62F |
| Price feeds | 0x3A49…6a2A 0xbe5C…9606 0x93Fe…0d68 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | vbUSDCprice $0.9999 |
|---|---|
| Collateral | yvAUSDprice $1.0549 |
| Borrowers | 46 |
| Created | September 30, 2025 |
| Market ID | 0xcfac40b9…cb017a |
| Rate model | 0x4F70…B428 |
| yvAUSD token | 0x93Fe…0d68 |
| vbUSDC token | 0x203A…FD36 |
Vaults lending here
$540 of the $1.6K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Yearn OG USDCV2lends directly | $540 |
Largest borrowers
46 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x5F2b…c334 | $762 | 1.17 |
| 0xaAbf…F9E9 | $172 | 1.06 |
| 0xAc6d…57Bf | $104 | 1.30 |
| 0x0f31…8f73 | $101 | 1.05 |
| 0x933A…65Eb | $43.00 | 1.06 |
| 0x5fFf…4168 | $42.00 | 1.06 |
| 0x1633…0526 | $27.00 | 1.68 |
| 0xf13F…ADea | $27.00 | 1.70 |
| 0xE3EA…74b9 | $11.00 | 1.24 |
| 0xe910…70Be | $9.00 | 1.05 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
1 in the last 30 days, $96.36 of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $96.3696.37 vbUSDC | 0xd3fc…f0d8 |
About the yvAUSD / vbUSDC market
The yvAUSD / vbUSDC market on Katana was created on September 30, 2025. Anyone can lend vbUSDC into it, and anyone holding yvAUSD can borrow that vbUSDC against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $1.6K is supplied and $1.3K borrowed, so 83.0% of the market is in use, backed by $1.8K of yvAUSD from 46 borrowers. Borrowers pay 6.19% a year, 7.73% on average over the last 30 days. Lenders earn 5.12%.
1 listed vault lends here, providing $540 of the supply; the largest is Yearn OG USDC. Liquidators who close an unsafe loan here receive a 4.38% bonus in yvAUSD. If yvAUSD fell 20% against vbUSDC, about $1.5K of collateral would be at risk of liquidation. 1 loan was liquidated here in the last 30 days.
yvAUSD / vbUSDC on Katana: quick answers
What is the vbUSDC borrow rate against yvAUSD on Morpho Katana?
In this market it is 6.19% a year right now, and it averaged 7.73% 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 is a yvAUSD / vbUSDC 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 yvAUSD worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if yvAUSD fell to about 0.613 vbUSDC.
How much vbUSDC can be borrowed here right now?
$266 is free in the market, and vaults can move in up to $7.6K more through Morpho's public allocator, for about $7.9K in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the yvAUSD / vbUSDC market?
Lenders earn 5.12% a year right now (6.88% averaged over 30 days). Most lend through vaults, such as Yearn OG USDC, which spread deposits across several markets.