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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 · 26,228,792 · every market’s state read from the Morpho Blue singleton · roster censused at

Markets
45
Supplied
8.55M USDS
Borrowed
7.74M USDS
Utilisation
90%
43 hold supply · 39 have borrowing6.85B 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
PT-sUSDS-26NOV2026
91.5%4.39Mutil 90%3.93% borrow3.54% supplyfee 0%0x9a8d…f24foracle
cbBTC
86.0%2.43Mutil 90%4.29% borrow3.88% supplyfee 0%0x2f4e…499coracle
stUSDS
86.0%998.2Kutil 90%4.10% borrow3.69% supplyfee 0%0x77e6…7f82oracle
wstETH
86.0%705.4Kutil 93%8.85% borrow8.26% supplyfee 0%0xb374…ea5foracle
wstETH
86.0%23.6Kutil 87%12.82% borrow11.19% 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%4.5Kutil 75%7.11% borrow5.32% 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%5.27% borrow0.08% 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
77.0%69.43util 100%800.00% borrow800.00% supplyfee 0%0x0976…0e1coracle
CULT
77.0%49.02util 100%800.00% borrow800.00% supplyfee 0%0x0655…7587oracle
IMF
62.5%31.75util 100%800.00% borrow800.00% supplyfee 0%0xa5a4…fe08oracle
REKT
77.0%10.97util 99%632.79% borrow628.96% supplyfee 0%0xa7ed…1d7aoracle
JOE
77.0%10.13util 95%364.33% borrow345.05% supplyfee 0%0xef9f…7b01oracle
NPC
77.0%10.01util 3%0.03% borrow0.00% supplyfee 0%0xce3a…f275oracle
Mog
62.5%6util 100%798.62% borrow798.44% supplyfee 0%0x44f5…86b6oracle
Mog
77.0%5.55util 52%0.07% borrow0.04% supplyfee 0%0x3f1d…c6ecoracle
APU
77.0%3.05util 99%0.52% borrow0.51% 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%586.36% borrow584.57% supplyfee 0%0xd279…5608oracle
SHIB
62.5%2util 49%0.07% borrow0.03% supplyfee 0%0xbd5c…91f8oracle
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%113.84% borrow113.84% 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%1.01% borrow0.81% supplyfee 0%0xc025…2979oracle
PT-sUSDE-27NOV2025
91.5%1util 80%1.01% borrow0.81% 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%10.47% borrow6.53% 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%0.00017util 100%792.66% borrow791.69% 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%