RailsBeta
USDe

USDe markets

Every market here lends USDe and measures in it — every figure on this page is a quantity of USDe, 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 26,046,328 · every market’s state read from the Morpho Blue singleton · roster censused at block 26,011,527

Markets
22
Supplied
58.0k USDe
Borrowed
50.1k USDe
Utilisation
86%
14 hold supply · 12 have borrowing4.90B USDe 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
eUSDe
91.5%50.4kutil 99%0.41% borrow0.41% supplyfee 0%0x140f…fd3coracle
idle — no collateral
0.0%7.5kutil 0%no IRMno IRMfee 0%0x13d1…d3abno oracle

12 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 12 markets
collateralborrow ÷ supplylltvsuppliedutilisationborrow aprsupply aprfeemarket
PT-USDe-25SEP2025
91.5%29.11util 0%12.02% borrow0.01% supplyfee 0%0xd92a…a196oracle
PT-sUSDE-25SEP2025
91.5%14.67util 8%16.01% borrow1.34% supplyfee 0%0xe2e6…1b9foracle
PT-eUSDE-29MAY2025
91.5%5.18util 0%12.52% borrow0.00% supplyfee 0%0xe7a0…a62aoracle
PT-tUSDe-25SEP2025
91.5%5util 75%45.36% borrow34.01% supplyfee 0%0xee27…bd1foracle
PT-USDe-31JUL2025
91.5%2.16util 88%2.65% borrow2.32% supplyfee 0%0xddff…a5a3oracle
PT-eUSDE-14AUG2025
91.5%1.03util 1%0.03% borrow0.00% supplyfee 0%0xd0d2…ddacoracle
CANA
86.0%1util 91%0.16% borrow0.15% supplyfee 0%0x3d8c…c93doracle
PT-pUSDe-16OCT2025
91.5%0.6736util 0%6.60% borrow0.00% supplyfee 0%0x48ad…1cf0oracle
PT-sUSDE-27NOV2025
91.5%0.2304util 96%485.40% borrow465.31% supplyfee 0%0x6093…9238oracle
PT-USDe-27NOV2025
91.5%0.2061util 50%1.17% borrow0.58% supplyfee 0%0x73ff…9ae1oracle
PT-tUSDe-18DEC2025
91.5%0.04util 95%376.26% borrow357.45% supplyfee 0%0x24fb…57d4oracle
PT-sUSDE-29MAY2025
91.5%1.0e-18util 0%0.02% borrow0.00% supplyfee 0%0xf71d…50cboracle

Created, never funded

8 USDe 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 8 empty markets
PT-eUSDE-14AUG2025 / USDe · 91.5% ×2MT / USDe · 98.0%PT-srUSDe-15JAN2026 / USDe · 91.5%srUSDe / USDe · 91.5%jrUSDe / USDe · 86.0%PT-jrUSDe-15JAN2026 / USDe · 86.0%MT / USDe · 77.0%