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TVL $10MAPY 3.15%low riskUpdated Feb 1, 2025

Morpho USDC / wstETH

Isolated lending market on Morpho Blue Base for USDC with Lido wstETH collateral. Brings established wstETH collateral to Base ecosystem.

ProtocolMorpho
Networkbase
SymbolUSDC/WSTETH
CategoryMoney Markets
Underlying Assets
USDCwstETH
Contract Address0x9c0d1e2f3a4b5c6d7e8f9a0b1c2d3e4f5a6b7c8d9e0f1a2b3c4d5e6f7a8b9c0d1

What is Morpho USDC / wstETH (Base)?

Morpho USDC / wstETH is an isolated lending market on Morpho Blue's Base deployment where suppliers lend USDC and borrowers use Lido's wstETH as collateral. This market brings the popular wstETH collateral type to Base's low-cost environment.

How This Market Works

This market mirrors mainnet dynamics on Base:

  1. Supply USDC to the Base lending pool
  2. Receive vault tokens representing your position
  3. Earn interest from wstETH-collateralized borrowers
  4. Withdraw USDC plus yield (subject to utilization)
Established Collateral: wstETH is a proven collateral type now available on Base.

What Assets Are Involved

Supply Asset: USDC (native Base USDC) Collateral Asset: wstETH (Lido on Base) Market Type: Isolated lending with fixed LLTV

wstETH on Base:

  • Bridged Lido staking token
  • Continues earning staking yield
  • Established DeFi collateral
  • Growing Base liquidity

Market Dynamics

This market features:

  • Familiar wstETH dynamics
  • Lower transaction costs
  • Base DeFi integration
  • Growing adoption

Risk Disclosures

Smart Contract Risk: Exposure to Morpho Blue (Base) and Lido. Layer 2 Risk: Base sequencer and bridge risks. Bridge Risk: wstETH on Base involves bridging from mainnet. wstETH Risk: Lido validator slashing could affect value. Oracle Risk: Accurate wstETH pricing on Base. Utilization Risk: High utilization may prevent withdrawals. Liquidity Risk: Less wstETH liquidity on Base than mainnet. Protocol Risk: Base Morpho is a newer deployment.

Related Money Markets

Aave Ethereum WETH1.25% APYAave Ethereum USDT2.45% APYAave Ethereum wstETH0.01% APYAave Ethereum USDC3.47% APYAave Ethereum WBTC0.01% APY
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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