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USDS

USDS markets

Every market here lends USDS and measures in it — every figure on this page is a quantity of USDS, never dollars. A market’s loan-to-value is its whole risk surface: the borrow limit and the liquidation line at once, fixed when the market was created. Sizes are the balance each market last settled, left as the contract stores them; the rates are live.

Chain snapshot · block 25,884,916 · every market’s state read from the Morpho Blue singleton · roster censused at block 25,540,377

45 markets · 43 hold supply · 38 have borrowing9.37M supplied · 8.40M borrowed, in USDS · 90% utilisation6.63B USDS exists

The markets that carry the book

Biggest book first. The bar is borrow ÷ supply, the one aggregate ratio Blue keeps; the lltv beside it is the market’s whole risk surface. Sizes are the balance each market last settled, never projected forward; the rates are live.

collateralborrow ÷ supplylltvsuppliedutilisationborrow aprsupply aprfeemarket
cbBTC
86.0%4.08Mutil 90%2.50% borrow2.25% supplyfee 0%0x2f4e…499coracle
PT-sUSDS-26NOV2026
91.5%2.45Mutil 90%3.50% borrow3.13% supplyfee 0%0x9a8d…f24foracle
wstETH
86.0%1.63Mutil 91%4.20% borrow3.81% supplyfee 0%0xb374…ea5foracle
stUSDS
86.0%1.17Mutil 87%4.81% borrow4.18% supplyfee 0%0x77e6…7f82oracle
wstETH
86.0%24.2kutil 84%14.93% borrow12.53% supplyfee 0%0x3eb3…4f8boracle

38 more funded markets, each below 0.1% of the book

Funded, and real, and each holding less than a thousandth of what the markets above hold between them. Every figure on their rows carries the same receipt as the rows above.

Show 38 markets
collateralborrow ÷ supplylltvsuppliedutilisationborrow aprsupply aprfeemarket
WETH
86.0%4.6kutil 94%30.48% borrow28.53% supplyfee 0%0x12ca…2199oracle
PT-USDe-27NOV2025
91.5%1.0kutil 0%0.03% borrow0.00% supplyfee 0%0x8cdb…e26coracle
PT-sUSDE-27NOV2025
91.5%139.85util 2%9.79% borrow0.15% supplyfee 0%0xa79d…ff6boracle
PT-staking-USDS-25SEP2025
96.5%95.76util 1%0.64% borrow0.01% supplyfee 0%0x366b…eb89oracle
BOBO
62.5%71.69util 100%604.37% borrow604.37% supplyfee 0%0x7481…6eb5oracle
IMF
62.5%31.75util 100%800.00% borrow800.00% supplyfee 0%0xa5a4…fe08oracle
IMF
77.0%31.03util 100%106.62% borrow106.13% supplyfee 0%0x0976…0e1coracle
CULT
77.0%21.84util 96%578.80% borrow557.46% supplyfee 0%0x0655…7587oracle
REKT
77.0%10.87util 58%59.65% borrow34.39% supplyfee 0%0xa7ed…1d7aoracle
JOE
77.0%10.13util 95%300.42% borrow284.52% supplyfee 0%0xef9f…7b01oracle
NPC
77.0%10.01util 3%0.03% borrow0.00% supplyfee 0%0xce3a…f275oracle
Mog
77.0%5.54util 52%0.77% borrow0.40% supplyfee 0%0x3f1d…c6ecoracle
APU
77.0%3.05util 0%0.02% borrow0.00% supplyfee 0%0x347a…451aoracle
PT-staking-USDS-18DEC2025
96.5%3util 30%0.48% borrow0.14% supplyfee 0%0x4b64…4485oracle
BOBO
77.0%2.13util 100%275.55% borrow274.71% supplyfee 0%0xd279…5608oracle
SHIB
62.5%2util 49%0.07% borrow0.03% supplyfee 0%0xbd5c…91f8oracle
Mog
62.5%1.06util 100%600.94% borrow600.87% supplyfee 0%0x44f5…86b6oracle
sUSDS+s
98.0%1.03util 0%0.27% borrow0.00% supplyfee 0%0x57e8…ed24oracle
PEPE
62.5%1.02util 11%0.03% borrow0.00% supplyfee 0%0xcbc2…79a0oracle
CANA
86.0%1util 100%0.50% borrow0.50% supplyfee 0%0xcde9…fcc1oracle
NPC
62.5%1util 3%0.03% borrow0.00% supplyfee 0%0x604e…e42coracle
SHIB
77.0%1util 9%0.03% borrow0.00% supplyfee 0%0x1a01…3b11oracle
idle — no collateral
0.0%1util 0%no IRMno IRMfee 0%0x02e7…4105no oracle
PT-USDe-27NOV2025
91.5%1util 80%1.05% borrow0.84% supplyfee 0%0xc025…2979oracle
PT-sUSDE-27NOV2025
91.5%1util 80%1.05% borrow0.84% supplyfee 0%0xdb52…07fdoracle
PT-staking-USDS-18DEC2025
96.5%1util 90%4.00% borrow3.60% supplyfee 0%0xf41d…6661oracle
Neiro
77.0%0.9134util 0%0.02% borrow0.00% supplyfee 0%0xc26f…60ecoracle
Neiro
62.5%0.8997util 0%0.02% borrow0.00% supplyfee 0%0x5fbb…9a14oracle
APU
62.5%0.5483util 100%605.80% borrow605.80% supplyfee 0%0x3799…9ac7oracle
REKT
62.5%0.3933util 0%0.09% borrow0.00% supplyfee 0%0x973b…33f7oracle
CULT
62.5%0.2325util 100%692.27% borrow692.27% supplyfee 0%0xb111…9225oracle
BITCOIN
77.0%0.0863util 1%0.23% borrow0.00% supplyfee 0%0x81b9…b3f8oracle
JOE
62.5%0.0517util 62%11.82% borrow7.37% supplyfee 0%0x38d2…d1c7oracle
SPX
62.5%0.0516util 2%0.87% borrow0.02% supplyfee 0%0x2920…811coracle
SPX
77.0%0.0467util 39%0.06% borrow0.02% supplyfee 0%0xc7d7…259foracle
cbBTC
86.0%0.0366util 3%0.03% borrow0.00% supplyfee 0%0x2910…dbbforacle
BITCOIN
62.5%0.0272util 0%0.03% borrow0.00% supplyfee 0%0x9bdf…7a5foracle
PEPE
77.0%1.1e-4util 100%788.14% borrow786.59% supplyfee 0%0x5ffd…841eoracle

Created, never funded

2 USDS markets hold no supply at this block. Creating a market on Blue is permissionless and costs only gas, so most of them were simply never used — they carry the parameters they were born with and nothing else. They are listed because the roster is the protocol’s, not ours; markets born with the same collateral and the same loan-to-value are one line with a count.

Show 2 empty markets
ysUSDS / USDS · 98.0%WETH / USDS · 86.0%