yvvbETH / vbUSDC on Katana
A Morpho market on Katana where people borrow vbUSDC against yvvbETH. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 2.61% a year and borrowers pay 3.31% right now.
Data from Morpho's API · updated
Borrow APY
3.31%
30-day average 4.30%
Supply APY
2.61%
30-day average 3.71%
Supplied
$2.16M
2.16M vbUSDC
Borrowed
$1.71M
79.0% utilization
Available to borrow
$453K
up to $466K with vault liquidity
Collateral posted
$3.76M
1.84K yvvbETH
yvvbETH / vbUSDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
yvvbETH / 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 3.65% 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 yvvbETH collateral could be liquidated if its price fell by each amount
Based on today's loans and today's yvvbETH 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 |
| yvvbETH price in vbUSDC | 2.05K vbUSDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20xaa98…Aba4 |
| Price feeds | 0x7BdB…8eEE 0xbe5C…9606 0xE007…8f37 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | vbUSDCprice $0.9996 |
|---|---|
| Collateral | yvvbETHprice $2.0K |
| Borrow APY, last year | 3.56% |
| Borrowers | 130 |
| Created | August 20, 2025 |
| Market ID | 0x08f67ef4…b78b8c |
| Rate model | 0x4F70…B428 |
| yvvbETH token | 0xE007…8f37 |
| vbUSDC token | 0x203A…FD36 |
Vaults lending here
$2.16M of the $2.16M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Yearn OG USDCV2lends directly | $2.00M |
| Clearstar Core USDCV2lends directly | $162K |
Largest borrowers
130 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xb867…a747 | $1.58M | 1.79 |
| 0xdb6C…319e | $44.5K | 2.28 |
| 0xEF31…5597 | $24.4K | 1.19 |
| 0x00c7…7341 | $13.2K | 1.27 |
| 0xd42A…121E | $13.2K | 2.34 |
| 0xD525…65a3 | $8.1K | 1.18 |
| 0xB7CB…212C | $7.7K | 1.87 |
| 0x2942…1CdC | $4.3K | 1.95 |
| 0x2777…BC27 | $2.4K | 1.65 |
| 0x5af8…23c0 | $2.0K | 1.53 |
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 yvvbETH / vbUSDC market
The yvvbETH / vbUSDC market on Katana was created on August 20, 2025. Anyone can lend vbUSDC into it, and anyone holding yvvbETH 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 $2.16M is supplied and $1.71M borrowed, so 79.0% of the market is in use, backed by $3.76M of yvvbETH from 130 borrowers. Borrowers pay 3.31% a year, 4.30% on average over the last 30 days and 3.56% over the last year. Lenders earn 2.61%.
2 listed vaults lend here, providing $2.16M of the supply; the largest are Yearn OG USDC and Clearstar Core USDC. Liquidators who close an unsafe loan here receive a 7.41% bonus in yvvbETH. If yvvbETH fell 20% against vbUSDC, about $50.5K of collateral would be at risk of liquidation.
yvvbETH / vbUSDC on Katana: quick answers
What is the vbUSDC borrow rate against yvvbETH on Morpho Katana?
In this market it is 3.31% a year right now, and it averaged 4.30% 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 yvvbETH / 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 yvvbETH worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if yvvbETH fell to about 1.33K vbUSDC.
How much vbUSDC can be borrowed here right now?
$453K is free in the market, and vaults can move in up to $12.5K more through Morpho's public allocator, for about $466K in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the yvvbETH / vbUSDC market?
Lenders earn 2.61% a year right now (3.71% averaged over 30 days). Most lend through vaults, such as Yearn OG USDC and Clearstar Core USDC, which spread deposits across several markets.