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TVL $23MAPY 5.67%medium riskUpdated Feb 1, 2025

Morpho USDC / wsrUSD

Isolated lending market on Morpho Blue where USDC suppliers earn yield from borrowers using wrapped Resolv staked USD as collateral.

ProtocolMorpho
Networkethereum
SymbolUSDC/WSRUSD
CategoryMoney Markets
Underlying Assets
USDCwsrUSD
Contract Address0x32e253d33f1594a67fc6ef51bf7a39cc4bf2d14904998dee769706fcde489ed9

What is Morpho USDC / wsrUSD?

Morpho USDC / wsrUSD is an isolated lending market connecting USDC liquidity with Resolv protocol's staked USD token. Borrowers pledge wsrUSD (wrapped staked rUSD) as collateral to access USDC loans while maintaining their Resolv staking position.

How This Market Works

The market enables loans against staked stablecoins:

  1. USDC suppliers deposit to earn interest
  2. Borrowers lock wsrUSD as collateral
  3. wsrUSD continues earning staking rewards while locked
  4. Interest rates adjust based on utilization
Staked Collateral: wsrUSD represents staked participation in Resolv protocol, earning yield while serving as loan collateral.

What Assets Are Involved

Supply Asset: USDC (USD Coin) Collateral Asset: wsrUSD (Wrapped Staked Resolv USD) Market Type: Staked stablecoin collateral lending Network: Ethereum mainnet

wsrUSD characteristics:

  • Wrapped version of staked rUSD
  • Earns Resolv protocol staking yield
  • Represents participation in Resolv ecosystem
  • Value tied to underlying staked position

Staked Stablecoin Dynamics

Markets with staked stablecoin collateral feature:

  • Yield on collateral during loan period
  • Generally lower volatility than crypto collateral
  • Protocol-specific redemption mechanics
  • Oracle requirements for accurate pricing

Use Cases

Borrowers utilize this market for:

  • Accessing liquidity without unstaking
  • Leveraging staked positions
  • Arbitrage between staking and lending
  • Capital efficiency on stable assets

Risk Disclosures

Smart Contract Risk: Exposure to Morpho Blue, USDC, and Resolv protocol contracts. Protocol Risk: Resolv protocol issues could affect wsrUSD value and liquidity. Staking Risk: wsrUSD value depends on Resolv staking mechanism health. Depeg Risk: wsrUSD may trade at discount during redemption periods. Oracle Risk: Accurate wsrUSD pricing requires reliable price feeds. Utilization Risk: High demand may temporarily limit USDC withdrawals. Liquidity Risk: wsrUSD may have limited secondary market liquidity. Regulatory Risk: Stablecoin regulations could affect underlying assets.

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Disclaimer: APY and TVL figures are based on on-chain data and may fluctuate. Past performance does not guarantee future results. DeFi investments carry smart contract, market, and liquidity risks. This content is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing.

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