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Lending

Borrowers post credit tokens. Lenders supply the stablecoins.

Morpho, Loopscale, isolated Kamino and Euler markets · one collateral per market · covers 100% of borrowing · Loopscale: borrowed only
Lenders
$134M$133,990,326 Kamino, Morpho · 9 Nov, 22:53 UTC-1.5%-1.519% Kamino, Morpho · 9 Nov, 22:53 UTC 30D
5.86%5.863% Kamino, Morpho · 9 Nov, 22:53 UTC
earn
99.2%99.2055% Kamino, Morpho · 9 Nov, 22:53 UTC
via vaults
Dollars
88.3%88.2656% Kamino, Morpho · 9 Nov, 22:53 UTClent outShare of the supplied money that is borrowed right now.
$15.7M$15,722,894 Kamino, Morpho · 9 Nov, 22:53 UTC freerates jump above 90%
Borrowers
$119M$118,636,080 Kamino, Loopscale, Morpho · 9 Nov, 22:53 UTC-5.1%-5.101% Kamino, Morpho · 9 Nov, 22:53 UTC 30D
6.79%6.7918% Kamino, Loopscale, Morpho · 9 Nov, 22:53 UTC
pay
70.8%70.7946% Kamino, Loopscale, Morpho · 9 Nov, 22:53 UTC
avg LTVLoan-to-value: the loan as a share of the collateral behind it.
Total borrowed against private credit$119M$118,636,080 Kamino, Loopscale, Morpho · 9 Nov, 22:53 UTC isolated + $0Lending dataset · 9 Nov, 22:53 UTC pooled =$119M$118,636,080 Kamino, Loopscale, Morpho · 9 Nov, 22:53 UTC
Data as of 9 Nov, 22:53 UTC· Each venue matched to its own totals within 2%, except Loopscale, which publishes noneHow we count
3.66–7.53%PST borrow, across 9 markets7.93%7.9263% Token yields · 10 Nov, 07:48 UTCtoken yield
Morpho · PYUSDKamino · Huma MarketMorpho · USDCKamino · PYUSDMorpho · AUSDMorpho · USDTToken yield

Loop PST: does it pay?

Token yield 7.93%
MarketLeveragemax 7.1x here
16.47%
you earn a year
vs 7.93% just holding
+4.27 pts
borrow rate can rise this much
before looping stops paying
−22.5%
PST price fall
that gets you liquidated

Floating rate: it can jump when a market is over 90% lent. PST is priced by the issuer’s NAV, so a big price fall is unlikely to show up; the rate is the real risk.

Isolated markets · Kamino and Morpho history backfilled; Loopscale start 9 Nov

About this data

Source: Kamino, Loopscale, Morpho position reads.

Who borrows against what

All 1 tokens
TokenVenuesMarket typeBacking loansDeposited onlyCredit tokens in a venue that back no loan.BorrowedFixed rateAvg LTVLoan-to-value: the loan as a share of the collateral behind it.Max LTVThe highest limit among the variable-rate markets where the token is posted, as on its token page. Fixed-term loans set their own.Priced by
KLMIsolated$168M$167,577,953 $77.4K$77,438 $119M$118,636,080 from 6.25%6.2474% KL70.8%70.7946% 86%NAV
1 of 1

Lenders

Earn vaultLends againstTo credit% of vaultLend rate% lent
Sentora Huma PST Main · Morpho · EthereumPST$75.0M$75,026,945 85.2%85.2283% 6.49%6.4869% 88.3%88.2847%
RWA USDC · Kamino · SolanaPST$16.0M$15,957,439 31.7%31.6864% 5.92%5.9185% 94%94.026%
Huma USDC Main · Morpho · EthereumPST$11.1M$11,050,898 82.3%82.3353% 5.85%5.8508% 82.3%82.3355%
Sentora PYUSD · Kamino · SolanaPST$7.1M$7,082,431 7%6.9993% 6.81%6.808% 87.5%87.5479%
Galaxy USDC Enhanced · Morpho · EthereumPST$3.5M$3,545,412 37.6%37.5677% 4.96%4.9644% 82.3%82.3355%
Flowdesk AUSD RWA Strategy · Morpho · EthereumPST$1.9M$1,901,633 76.7%76.6926% 4.92%4.9187% 90.1%90.0648%
Bitwise Premium RWA AUSD · Morpho · EthereumPST$1.6M$1,632,634 26.7%26.7293% 4.21%4.2051% 90.1%90.0648%
Flowdesk Confidential High Yield USDT · Morpho · EthereumPST$600.6K$600,560 1.6%1.5897% 10.20%10.2048% 88%88.0466%
Galaxy USDC · Kamino · SolanaPST$290.7K$290,676 14.1%14.0549% 4.24%4.2382% 93.7%93.652%
Marinade USD Vault · Kamino · SolanaPST$117.3K$117,288 8.2%8.2311% 5.52%5.5211% 93.7%93.652%

Can I withdraw?

2Kamino, Morpho · 9 Nov, 22:53 UTC of 7Kamino, Morpho · 9 Nov, 22:53 UTCmarkets over 90% lent today

6Kamino, Morpho · 9 Nov, 22:53 UTC of the last 30 days above 90%. Free cash per token:

PST$15.7M$15,722,894 Kamino, Morpho · 9 Nov, 22:53 UTC · 88%

Over 90% lent: withdrawals may wait until borrowers repay.

Have lenders lost money?

$0Morpho, Euler, Aave, Kamino · 10 Nov, 00:00 UTCbad debt
Liquidated since 10 Aug$0Morpho, Euler, Aave, Kamino · 10 Nov, 00:00 UTC · 0Morpho, Euler, Aave, Kamino · 10 Nov, 00:00 UTC
Largest—No liquidation recorded for these filters

Covers Morpho, Euler, Aave, Kamino. Bad debt excludes Euler and Kamino, where no bad-debt figure can be read.

How is the collateral priced?

Market price$31.4M$31,371,933 Kamino, Loopscale, Morpho · 9 Nov, 22:53 UTC · 18.7%18.7208% Kamino, Loopscale, Morpho · 9 Nov, 22:53 UTC
Issuer NAVNet asset value: the price the token’s issuer publishes.$136M$136,206,019 Kamino, Loopscale, Morpho · 9 Nov, 22:53 UTC · 81.3%81.2792% Kamino, Loopscale, Morpho · 9 Nov, 22:53 UTC
Fixed price$0Kamino, Loopscale, Morpho · 9 Nov, 22:53 UTC · 0%Kamino, Loopscale, Morpho · 9 Nov, 22:53 UTC
Unknown$0Kamino, Loopscale, Morpho · 9 Nov, 22:53 UTC · 0%Kamino, Loopscale, Morpho · 9 Nov, 22:53 UTC

Issuer NAV: if the token trades lower on the market, the lending market won’t see it. No liquidation happens, and lenders carry the loss.

How we count

Backing loans: credit tokens enabled as collateral, with an LTV above zero, in a position with debt. Deposited only: every other credit token in the venue.

Borrowed: in an isolated market, the market’s borrowing. In a pooled market, the debt of positions holding credit tokens, split across mixed collateral by value at the market’s own oracle.

Pooled markets show lender figures for the whole pool, because that money is not set aside for credit borrowers. Lend rate is weighted by supply, borrow rate by debt.

Loopscale is borrowed only: its lender supply cannot be read, so it is left out of supplied, % lent and free. Fluid and Jupiter Lend are not covered yet. Markets with no collateral and no debt are hidden; turn them on in Filters.

Left out because the market’s oracle fails or is broken: Morpho PRIME / USDC on ethereum (0xec10f939836409ccc1e82979b34a06591b8e7476fcca1cb0b94d33d68e6d6526): its oracle is broken, it values one PRIME at $1.069e+12 against Morpho's $1.069; debt 1 USDC; Morpho muBOND / USDC on ethereum (0x6cf7e63f37d7f2ca2b86d1415eeedd4173b30f9974e8a706016e1f798b479b03): its oracle reverts; debt 219326 USDC; Morpho syrupUSDC / ARGt on base (0x8e15587c793b308b5769e0b3830336cef90e8bff486a46047d385db850111422): its oracle reverts; debt 1095 ARGt; Morpho syrupUSDC / ARGt on base (0xc2431f2ab85339427c371b337fc75e0388b93d5b98b4f8603d60d206f255c9a7): its oracle reverts; debt 0 ARGt.

Each market is read at its own block or slot. Morpho and Kamino days before the dataset began are backfilled from their own history APIs; borrowed, supplied and rates only, so collateral starts when positions were first read.