USDe / USDG on Robinhood Chain
A Morpho market on Robinhood Chain where people borrow USDG against USDe. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 5.06% a year and borrowers pay 5.59% right now.
Data from Morpho's API · updated
Borrow APY
5.59%
30-day average 4.63%
Supply APY
5.06%
30-day average 4.15%
Supplied
$354.4M
354.43M USDG
Borrowed
$321.7M
90.8% utilization
Available to borrow
$32.72M
free liquidity right now
Collateral posted
$361.3M
361.46M USDe
USDe / USDG rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
USDe / USDG 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 4.52% 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 USDe collateral could be liquidated if its price fell by each amount
Based on today's loans and today's USDe price in USDG. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 91.5%fixed for the life of the market |
|---|---|
| Liquidation bonus | 2.62%extra collateral a liquidator receives |
| USDe price in USDG | 1.00 USDGthe market's oracle, which liquidations follow |
| Oracle | Unknown0xE648…055f |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDGprice $1.0000 |
|---|---|
| Collateral | USDeprice $0.9994 |
| Borrowers | 608 |
| Created | June 9, 2026 |
| Market ID | 0xc845da65…4cddd6 |
| Rate model | 0x2BD3…0fa1 |
| USDe token | 0x5d3a…ef34 |
| USDG token | 0x5fc5…d168 |
Vaults lending here
$354.2M of the $354.4M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Steakhouse USDGV2lends directly | $353.9M |
| Yearn Stonk USDGV2lends directly | $205K |
| Purinta USDGV2lends directly | $52.5K |
| MEV Capital USDGV2lends directly | $2.00 |
Largest borrowers
608 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x7bee…0FAb | $69.81M | 1.02 |
| 0x502D…8fB3 | $55.19M | 1.04 |
| 0xB4fb…59c1 | $31.43M | 1.01 |
| 0x8986…5298 | $26.50M | 1.01 |
| 0xAF9B…CC95 | $24.05M | 1.05 |
| 0x2E3d…90e5 | $23.28M | 1.02 |
| 0xd758…5Fda | $14.90M | 1.02 |
| 0xF078…f19E | $13.83M | 1.04 |
| 0xd6c7…FE9B | $12.71M | 1.02 |
| 0xe837…a6d0 | $10.42M | 1.06 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
38 in the last 30 days, $252K of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $6.406.41 USDG | 0x4389…75b6 | |
| $8.698.69 USDG | 0xcebd…d03b | |
| $9.159.15 USDG | 0x3ca8…a8b6 | |
| $52.0052.00 USDG | 0x1028…9567 | |
| $54.0054.00 USDG | 0xd9fe…7794 | |
| $55.0155.00 USDG | 0x9f90…240d | |
| $55.0155.00 USDG | 0xb30a…96a6 | |
| $250K250.00K USDG | 0x58da…3171 | |
| $174174.00 USDG | 0x5dab…973b | |
| $177177.00 USDG | 0x6776…ed49 |
About the USDe / USDG market
The USDe / USDG market on Robinhood Chain was created on June 9, 2026. Anyone can lend USDG into it, and anyone holding USDe can borrow that USDG against it, up to a loan-to-value of 91.5% (its LLTV), where liquidation starts. Prices come from a custom oracle; check its source before borrowing or lending.
Right now $354.4M is supplied and $321.7M borrowed, so 90.8% of the market is in use, backed by $361.3M of USDe from 608 borrowers. Borrowers pay 5.59% a year, 4.63% on average over the last 30 days. Lenders earn 5.06%.
4 listed vaults lend here, providing $354.2M of the supply; the largest are Steakhouse USDG, Yearn Stonk USDG and Purinta USDG. Liquidators who close an unsafe loan here receive a 2.62% bonus in USDe. If USDe fell 20% against USDG, about $360.6M of collateral would be at risk of liquidation. 38 loans were liquidated here in the last 30 days.
USDe / USDG on Robinhood Chain: quick answers
What is the USDG borrow rate against USDe on Morpho Robinhood Chain?
In this market it is 5.59% a year right now, and it averaged 4.63% over the last 30 days. The rate is variable: it follows how much of the market's USDG is borrowed, rising quickly above 90%.
When are USDe / USDG loans liquidated?
When a loan reaches 91.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes USDe worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if USDe fell to about 0.546 USDG.
How much USDG can be borrowed here right now?
$32.72M is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the USDe / USDG market?
Lenders earn 5.06% a year right now (4.15% averaged over 30 days). Most lend through vaults, such as Steakhouse USDG, Yearn Stonk USDG and Purinta USDG, which spread deposits across several markets.
More ways to borrow against USDe
Other loan assets with USDe as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| USDe / USDCBase · LLTV 91.5% | 4.19% | 4.69% |
| USDe / RLUSDEthereum · LLTV 91.5% | 3.45% | 3.99% |
| USDe / DAIEthereum · LLTV 91.5% | 9.19% | 10.26% |
