yvvbUSDC / vbUSDT on Katana
A Morpho market on Katana where people borrow vbUSDT against yvvbUSDC. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 3.11% a year and borrowers pay 3.51% right now.
Data from Morpho's API · updated
Borrow APY
3.51%
30-day average 3.63%
Supply APY
3.11%
30-day average 3.12%
Supplied
$799K
799.55K vbUSDT
Borrowed
$710K
88.9% utilization
Available to borrow
$89.0K
up to $89.1K with vault liquidity
Collateral posted
$852K
827.80K yvvbUSDC
yvvbUSDC / vbUSDT rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
yvvbUSDC / 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 3.54% 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 yvvbUSDC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's yvvbUSDC 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 |
| yvvbUSDC price in vbUSDT | 1.03 vbUSDTthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x6d73…c98c |
| Price feeds | 0xbe5C…9606 0xF03E…ec78 0x80c3…B159 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | vbUSDTprice $0.9992 |
|---|---|
| Collateral | yvvbUSDCprice $1.0296 |
| Borrow APY, last year | 4.22% |
| Borrowers | 394 |
| Created | July 28, 2025 |
| Market ID | 0x6691cdca…2c2ed3 |
| Rate model | 0x4F70…B428 |
| yvvbUSDC token | 0x80c3…B159 |
| vbUSDT token | 0x2DCa…D2F2 |
Vaults lending here
$799K of the $799K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Yearn OG USDTV2lends directly | $760K |
| Clearstar Core USDTV2lends directly | $39.1K |
Largest borrowers
394 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x6655…e784 | $533K | 1.02 |
| 0x5C2A…b0b8 | $114K | 1.04 |
| 0x55A6…D07e | $25.6K | 1.01 |
| 0xB7CB…212C | $5.2K | 1.27 |
| 0x9372…D532 | $5.0K | 1.05 |
| 0x09Dc…eeFd | $4.2K | 1.08 |
| 0xD164…78e2 | $3.7K | 1.04 |
| 0xf1f5…Ba14 | $3.2K | 1.44 |
| 0x9e97…2C8F | $2.9K | 1.03 |
| 0x6078…6173 | $2.2K | 1.03 |
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 yvvbUSDC / vbUSDT market
The yvvbUSDC / vbUSDT market on Katana was created on July 28, 2025. Anyone can lend vbUSDT into it, and anyone holding yvvbUSDC 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 $799K is supplied and $710K borrowed, so 88.9% of the market is in use, backed by $852K of yvvbUSDC from 394 borrowers. Borrowers pay 3.51% a year, 3.63% on average over the last 30 days and 4.22% over the last year. Lenders earn 3.11%.
2 listed vaults lend here, providing $799K 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 yvvbUSDC. If yvvbUSDC fell 20% against vbUSDT, about $833K of collateral would be at risk of liquidation.
yvvbUSDC / vbUSDT on Katana: quick answers
What is the vbUSDT borrow rate against yvvbUSDC on Morpho Katana?
In this market it is 3.51% a year right now, and it averaged 3.63% 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 yvvbUSDC / vbUSDT loans liquidated?
When a loan reaches 86% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes yvvbUSDC worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if yvvbUSDC fell to about 0.599 vbUSDT.
How much vbUSDT can be borrowed here right now?
$89.0K is free in the market, and vaults can move in up to $131 more through Morpho's public allocator, for about $89.1K in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the yvvbUSDC / vbUSDT market?
Lenders earn 3.11% a year right now (3.12% averaged over 30 days). Most lend through vaults, such as Yearn OG USDT and Clearstar Core USDT, which spread deposits across several markets.
More ways to borrow against yvvbUSDC
Other loan assets with yvvbUSDC as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| yvvbUSDC / vbETHKatana · LLTV 77% | 0.20% | 0.23% |
