Morpho Blue
Dollar loans only: other currencies are separate books, never added in
Debt and rates count loans made in US dollars and dollar stablecoins. Loans in euros, francs, yen, ether or bitcoin itself are separate books, shown by currency on each venue, never added in.
What these figures cover — and what they leave out
- BTC collateral — part of it is the supplied amount each pool reports, not what is pledged against a loan.
- Borrow rate (USD loans) — weighted by dollar debt for 8 of 10 deployments.
- Lend rate (USD loans) — weighted by dollar supply for 7 of 10 deployments.
- Liquidates at — the priced books of 10 of 10 deployments taken as one position — an aggregate, not a forecast.
What “Liquidates at” is: one price for the whole book, not a forecast
"Liquidates at" is the bitcoin price at which this book, taken as one position, stops covering its debt at its liquidation thresholds — an aggregate, not a forecast: individual loans are levered differently and liquidate above it.
| Deployment | BTC collateral | share | Dollar debt against bitcoin | share | LTV | Borrow | Lend | Liquidates at | Threshold (LTV) |
|---|---|---|---|---|---|---|---|---|---|
| Base › | 40,610 BTC | 65% | $1.62bn | 65% | 52.2% | 5.35% | 4.81% | $46,639 | 77.0%–86.0% LTV |
| Ethereum › | 21,360 BTC | 34% | $876m | 35% | 55.0% | 4.62% | 4.06% | $50,498 | 77.0%–86.0% LTV |
| Katana › | 83.58 BTC | 0.1% | $4.1m | 0.2% | 60.7% | 2.65% | 1.88% | $59,464 | 86.0% LTV |
| Arbitrum › | 77.45 BTC | 0.1% | $3m | 0.1% | 47.7% | 3.68% | 3.33% | $44,428 | 86.0% LTV |
| Hyperliquid L1 › | 52.06 BTC | <0.1% | $2m | <0.1% | 48.2% | 9.22% | 8.33% | $50,065 | 77.0% LTV |
| Polygon › | 21.45 BTC | <0.1% | $700k | <0.1% | 40.5% | 13.02% | 11.85% | $37,781 | 86.0% LTV |
| Optimism › | 10.5 BTC | <0.1% | $443k | <0.1% | 52.5% | 9.01% | 8.25% | $49,023 | 86.0% LTV |
| Monad › | 2.02 BTC | <0.1% | $75k | <0.1% | 46.0% | 8.47% | — | $41,080 | 77.0%–94.5% LTV |
| Unichain › | 0.6958 BTC | <0.1% | $26k | <0.1% | 46.1% | — | — | $41,125 | 86.0% LTV |
| Tempo › | 0.9139 BTC | <0.1% | $24k | <0.1% | 32.3% | — | — | $32,245 | 77.0% LTV |
Ordered by debt, never by a rate; a figure in italics covers part of a book
Ordered by debt against bitcoin, then collateral — never by a rate. Shares are of this family's total, and add up. A figure in italics covers only part of a book — hover for what it leaves out; a dash carries its reason. /v1/market/tree
One protocol, deployed on 10 chains. Each deployment is a separate set of contracts with its own book, collateral list and parameters, so each keeps its own page and its own figures. The rows are not added together here.
| Deployment | Venue type | Status | Criteria researched |
|---|---|---|---|
| Arbitrum › | on-chain isolated markets | ingesting | 10/10 |
| Base › | on-chain isolated markets | ingesting | 10/10 |
| Ethereum › | on-chain isolated markets | ingesting | 10/10 |
| Hyperliquid L1 › | on-chain isolated markets | ingesting | 10/10 |
| Katana › | on-chain isolated markets | ingesting | 10/10 |
| Monad › | on-chain isolated markets | ingesting | 10/10 |
| Optimism › | on-chain isolated markets | ingesting | 10/10 · listed |
| Polygon › | on-chain isolated markets | ingesting | 10/10 · listed |
| Tempo › | on-chain isolated markets | ingesting | 10/10 |
| Unichain › | on-chain isolated markets | ingesting | 10/10 · listed |
Sorted by venue id, not by any figure. Figures are each deployment's own headline read (10 of 10 deployments have a collateral or debt figure), as of 2026-11-04; a dash carries its reason on hover, and a figure in italics covers only part of the bitcoin book — hover for what it leaves out. get_venue · list_venues
What a family is, and is not
A family is the presentation parent of a venue: one protocol across its chain deployments (Aave v3 on Ethereum, Arbitrum, Base…), one corporate issuer, or one desk. family_id matches the ids other payloads use (the corporate issuer_id, the rate-card desk key). It is NOT a measurement unit: every figure in this dataset keys on venue_id, and a family lists its venues rather than summing them. Deployments of one family are separate contracts with separate books and can differ in collateral, parameters and risk.
Ask for this by machine
| REST | GET https://api.bitcoincreditstack.com/v1/market/venues |
|---|---|
| MCP | list_venues() get_venue({ venue_id: "morpho_blue_arbitrum" }) |
The same figures, the same names and dates. Connect your AI →