The Bitcoin Credit Stack
rates are percent a year, continuously compounded · figures as of 2026-10-15 · read 2026-10-16 04:01 UTC
Market › Venues › UwU Lend (Ethereum)

UwU Lend (Ethereum)

Takes as collateral: ether

uwu_lend_ethereum · on-chain pool · ingesting

Events for this venue: dated moves past a published rule and levels crossed.

ETH collateral
8.16 ETH
$20k at the basket price
USD debt against ether
collecting (not read yet)
this pool's accounts are not read one by one, which is what assigns debt to ether exactly
Aggregate LTV
collecting (not read yet)
no read carries both this venue's dollar debt and its ether collateral
Borrow rate (USD loans)
collecting (not read yet)
no dollar borrow rate against ether is read at this venue
Lend rate (USD loans)
collecting (not read yet)
no dollar lend rate against ether is read at this venue
Liquidates at
collecting (not read yet)
no liquidation threshold is read for this venue's ether reserves

What the ether is: 100.0% ether itself (ETH, WETH) · 0.0% staking tokens (wstETH, rETH, cbETH…) · 0.0% restaking tokens (weETH, ezETH…). Staking tokens count at their own contract rate; the market price is published beside it.

Collateral: the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan.

Credit secured by ether is never added to credit secured by bitcoin. An account holding both is shown as a bound in each view and added to neither.

2 of 10 criteria researched. Unresearched criteria are shown as unknown with the reason — never guessed, and never omitted. What the criteria are →

Listed, not researched in full. This venue is read only through an aggregator, and its 30-day book has not reached the floor over the last 90 days, under the $5m research floor. Its rate and book are published as for any venue; its criteria are not researched. What the floor is →

Markets — as served, not a venue rate

One row per market, as the venue publishes them. These are market rates: combining them into a single venue rate is a weighting across this venue's markets, and choosing one here would be a methodology decision taken in a web page.

Markets whose collateral counts as ether, each token at its own contract rate. Measured the same way as bitcoin's, and never added to it.

No ether-collateral market rows are served for this venue. It runs contracts, so the absence is this dataset’s, not the venue’s.

Price

What does credit cost here, and how is the price formed?

Rate formationalgorithmic_utilisation
Term structureunknown (below the $5m research floor — listed, not researched)
Rate certaintyunknown (below the $5m research floor — listed, not researched)

Quality

What stands behind a position, and what can change under the reader?

Oracle dependencyunknown (below the $5m research floor — listed, not researched)
Default & liquidationunknown (below the $5m research floor — listed, not researched)
Custody & backingunknown (below the $5m research floor — listed, not researched)
Recourseunknown (below the $5m research floor — listed, not researched)
Track record47 months observed
source
Derived from the first aggregator observation this dataset holds for the venue (defi_rates_llama, 2022-10-10; the registry holds no first_date for it). This is a LOWER BOUND on the venue's age, not the age itself: a venue trading long before the aggregator began listing it reads short here. The observer is the aggregator, not the venue's own contracts. Not typed, and not a claim about the venue's longevity.

Composition

Who and what makes up this market?

Collateral acceptedunknown (below the $5m research floor — listed, not researched)
Book depth & concentrationunknown (no per-venue counterparty count exists in this registry or in the comparison payload, so depth and concentration cannot be established. This is a gap in THIS DATASET, not in the venue, and is a different value from `undisclosed`, which would mean the venue does not publish it.)
Observability
price: partial — Out of scope for bitcoin: not bitcoin collateral; read for the ether series. Read daily since 2026-10-07 from the venue's own contracts: each reserve's own supply and borrow rates, 4 reserves on the latest day. History before the switch is rebuilt from the chain for all of them, 2022-10-10 to 2026-10-07 (weekly before 2026-04-01, daily after). A further 5 pools from the former feed are declared and not served: 4 out_of_scope (collateral that is not bitcoin); 1 off_feed_small (off the feed with no reader, each small). Its WETH counts as ether collateral (ethereum custody native) and feeds the ether credit tree (credit_tree_eth): the ether collateral and the debt against it. As of 2026-10-14.
quantity: partial — Out of scope for bitcoin: not bitcoin collateral; read for the ether series. Read daily since 2026-10-07 from the venue's own contracts: supplied and borrowed totals per reserve, 4 reserves on the latest day. History before the switch is rebuilt from the chain for all of them, 2022-10-10 to 2026-10-07 (weekly before 2026-04-01, daily after). A further 5 pools from the former feed are declared and not served: 4 out_of_scope (collateral that is not bitcoin); 1 off_feed_small (off the feed with no reader, each small). Its WETH counts as ether collateral (ethereum custody native) and feeds the ether credit tree (credit_tree_eth): the ether collateral and the debt against it. As of 2026-10-14.
composition: none — Not observed: composition is loan-level and needs event ingestion, which is not planned for this venue; the daily read of reserve totals does not give it. As of 2026-10-14.

What the loans are denominated in

Not yet established for this venue — which is not the same as dollars.

Backing chain

Each link from what this venue takes as collateral down to the bitcoin it rests on, in order, with how each link was established.

How a chain is read, and what it does not claim

backing_chain: the ordered claims standing between a creditor and the coins, each link derived from a sourced fact already held and carrying it in `derived_from` — the custody cell, the venue's borrow card, or wrapper_registry.yaml for who holds the bitcoin behind a token. A `representation` link has one branch per token the venue takes; branches are alternatives, not a sequence. A link nobody has established is shown with status `incomplete` and names what is missing — it is never dropped, because a missing link omitted makes a long chain look short. `undisclosed` means the party does not publish it; `incomplete` means this dataset has not established it. NEVER SCORED AND NEVER COUNTED: no length, link count or ranking is published, and none should be derived — chain length and link transparency are orthogonal (ETP-backed margin is the longest chain here and every link of it is regulated). `recourse` is what the creditor holds beyond the chain. ⚠ Tokens are identified BY SYMBOL: the wrapper registry is not keyed by chain or address, so every `representation` link carries a `deployment` step that is incomplete — whether a token is native to the chain of the venue or a bridge receipt (one more link) is not established — and a symbol the registry knows to name a different token on a venue is shown unresolved, not given that wrapper's holders.

  1. custody incomplete
    custody_model
    source
    attribute · custody_model
  2. representation incomplete
    no curated BTC representation is held for this venue (markets / metadata / collateral_asset)
Recourse: unknown (not researched yet)

The generic axis set

Identical for every venue, identically computed. An axis that cannot be computed here renders its reason — never silently omitted, because an omitted axis says it was not considered. A figure that covers only part of what the axis asks is marked, with what it leaves out beneath it. Collateral, debt and the borrow and lend rates are the tiles at the top of this page.

Utilisation (venue roll-up)29.9%
the pool's dollar reserves: borrowed over supplied across 2 reserve(s), on 2026-10-16 — the whole pool, not its ether book
our daily direct read of the venue's contracts; not compared against a second series; quantity-gated
Intermediation margincollecting (not read yet) — needs both a borrow and a lend rate; the borrow rate is not served here
Trailing realised average (7/30/90d)collecting (not read yet) — no dollar loan at this venue cleared the gates and the $250k floor in the last 90 days
Rate volatility (30/90d)collecting (not read yet) — no dollar loan at this venue cleared the gates and the $250k floor in the last 90 days
Spread to the pair aggregatecollecting (not read yet) — this venue has no borrow rate to compare
Spread to matched Treasuriescollecting (not read yet) — this venue has no borrow rate to compare
Origination flowcollecting (not read yet) — not yet published for credit secured by ether
Repayment flowcollecting (not read yet) — not yet published for credit secured by ether
Aggregate and distributional LTVcollecting (not read yet) — no read carries both this venue's dollar debt and its ether collateral
Residence distributioncollecting (not read yet) — how long positions stay open needs each loan's history; it is held for Morpho Blue and the Aave v3 chains and not yet computed
Liquidation incidencecollecting (not read yet) — liquidations are read from events for Morpho Blue and the Aave v3 chains, and as positions past threshold where a pool is read account by account
Top-10 concentration sharecollecting (not read yet) — not read for ether accounts

Source: Board of Governors of the Federal Reserve System (H.15, H.4.1, H.6).

There is no score on this page and none will be added. The criteria are published and versioned before any venue is measured against them, and this venue's row is produced by the same pipeline as every other.

Access routes

Unknown (not surveyed yet). No one has looked for an MCP server for this venue. That is not the same as having looked and found none, and this row will not say the second while meaning the first. The listing criteria are published.

Ask for this by machine

REST
GET https://api.bitcoincreditstack.com/v1/market/venues/uwu_lend_ethereum
MCP
get_venue({ venue_id: "uwu_lend_ethereum", collateral: "eth" })

The same figures, the same names and dates. Connect your AI →

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How this venue compares depends on what you'd borrow, for how long, against what. That's a question for your AI, with this data behind it.

Orientation · UwU Lend (Ethereum)Holder · UwU Lend (Ethereum)Treasurer · UwU Lend (Ethereum)Analyst · UwU Lend (Ethereum)Risk · UwU Lend (Ethereum)
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