USDC on Aave Base

USD Coin (USDC) is listed on the Aave V3 Base market. Lenders have supplied $196.7M (196.78M USDC) and borrowers owe $179.6M, so 91.3% of the pool is lent out and $15.36M is left to borrow. The supply cap is 86% used.

Suppliers earn 5.08% a year, and variable-rate borrowers pay 6.22%. The rate follows utilization: up to 90% the borrow rate rises gently from 0.00% to 4.75%, and above that it climbs steeply to 14.75% when everything is lent out. At 91.3% now, the pool is above that point, so the rate can jump quickly if more is borrowed. Aave keeps 10% of the interest as its reserve factor.

USDC cannot be used as collateral on this market. The best USDC supply rate elsewhere on Aave is 9.47% on Linea. The cheapest place to borrow it is the Arc Main spoke (V4) at 3.42%. Compare USDC rates on every Aave market.

Among the 22 Aave markets with at least $1M of USDC supplied, this one pays the 3rd highest supply rate. Its borrow rate is the 23rd lowest of the 25 markets with at least $250K of USDC to lend. A week ago suppliers earned 6.08% and borrowers paid 7.36%, with 92.3% of the pool lent out. Over the past 30 days, the supply rate ranged from 3.83% to 8.37%, and the borrow rate from 4.81% to 9.68% (one reading a day).