WMON / USDC on Monad
A Morpho market on Monad where people borrow USDC against WMON. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 16.23% a year and borrowers pay 17.82% right now.
Data from Morpho's API · updated
Borrow APY
17.82%
30-day average 12.43%
Supply APY
16.23%
30-day average 11.63%
Supplied
$236K
235.89K USDC
Borrowed
$216K
91.7% utilization
Available to borrow
$19.5K
free liquidity right now
Collateral posted
$461K
26.75M WMON
WMON / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
WMON / USDC 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 11.41% 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 WMON collateral could be liquidated if its price fell by each amount
Based on today's loans and today's WMON price in USDC. 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 |
| WMON price in USDC | 0.0174 USDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x59e4…1A6A |
| Price feeds | 0xBcD7…22fb 0xf5F1…ebec |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | WMONprice $0.0173 |
| Borrowers | 33 |
| Created | November 21, 2025 |
| Market ID | 0xcaa68590…b4aa13 |
| Rate model | 0x0947…400F |
| WMON token | 0x3bd3…433A |
| USDC token | 0x7547…b603 |
Vaults lending here
$36.3K of the $236K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Steakhouse High Yield USDCV2lends directly | $36.3K |
Largest borrowers
33 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x801d…70A0 | $150K | 1.73 |
| 0x51D6…2439 | $15.6K | 1.62 |
| 0xc934…4084 | $6.2K | 1.89 |
| 0x6a37…7aBB | $4.3K | 1.29 |
| 0x9807…B1D2 | $2.6K | 1.31 |
| 0x7F8B…24a2 | $2.3K | 1.93 |
| 0xFbf1…2f03 | $1.5K | 1.71 |
| 0x8fE2…Cc78 | $1.1K | 2.38 |
| 0xa582…3812 | $744 | 1.37 |
| 0x2777…BC27 | $626 | 1.61 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
2 in the last 30 days, $9.4K of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $1.041.04 USDC | 0x1666…bde7 | |
| $9.4K9.45K USDC | 0x711b…f308 | |
| $4.5K4.47K USDC | 0x804d…b171 | |
| $3.1K3.11K USDC | 0x9b06…3032 | |
| $10.8710.87 USDC | 0xddd8…dc85 |
About the WMON / USDC market
The WMON / USDC market on Monad was created on November 21, 2025. Anyone can lend USDC into it, and anyone holding WMON can borrow that USDC against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $236K is supplied and $216K borrowed, so 91.7% of the market is in use, backed by $461K of WMON from 33 borrowers. Borrowers pay 17.82% a year, 12.43% on average over the last 30 days. Lenders earn 16.23%.
1 listed vault lends here, providing $36.3K of the supply; the largest is Steakhouse High Yield USDC. Liquidators who close an unsafe loan here receive a 7.41% bonus in WMON. If WMON fell 20% against USDC, about $49.00 of collateral would be at risk of liquidation. 2 loans were liquidated here in the last 30 days.
WMON / USDC on Monad: quick answers
What is the USDC borrow rate against WMON on Morpho Monad?
In this market it is 17.82% a year right now, and it averaged 12.43% over the last 30 days. The rate is variable: it follows how much of the market's USDC is borrowed, rising quickly above 90%.
When are WMON / USDC 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 WMON worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if WMON fell to about 0.0113 USDC.
How much USDC can be borrowed here right now?
$19.5K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the WMON / USDC market?
Lenders earn 16.23% a year right now (11.63% averaged over 30 days). Vaults provide 15% of the supply here (Steakhouse High Yield USDC); the rest comes from people lending directly.
More ways to borrow against WMON
Other loan assets with WMON as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| WMON / AUSDMonad · LLTV 77% | 13.49% | 14.50% |
