USDC (Core hub) on Aave V4 Ethena Ecosystem

Live USD Coin (USDC) rates on the Aave V4 Ethena Ecosystem spoke on Ethereum. On V4 every borrower pays the hub's base rate, and a personal risk premium can be added depending on the collateral behind the loan.

Data from Aave's V4 API · updated 2026-09-21 08:51 UTC

Supply APY

5.04%

plus rewards

Base borrow rate

6.06%

before any risk premium

Supplied here

0 USDC

Borrowed here

$1.50M

1.50M USDC

Hub utilization

92.5%

Core hub, all spokes

Available to borrow

price $0.9999

USDC supply and borrow rate history

Averages published by Aave's V4 API

Risk settings on this spoke

Can be used as collateral	No
Collateral factor	–
Collateral risk score	0.00%
Max liquidation bonus	–
Liquidation fee	0.00%
Supply cap used	No cap
Borrow cap used	1.50M of 1.50M USDC (100.1%)

The collateral factor decides how much you can borrow against this asset. The risk score feeds the borrower's risk premium: the safer the collateral, the lower the premium. How V4 works.

Where the liquidity comes from

Hub	Core hub
Supplied across the hub	$19.94M
Borrowed across the hub	$18.45M
Spokes sharing it	5
Liquidity fee	10.00%
USDC token	0xA0b8…eB48
Spoke contract	0xba1B…08AF
Hub contract	0xCca8…26c9

USDC utilization and interest rate curve

Hub utilization is 92.5% right now. Set by the Core hub: how the base rate responds as more of the supply gets borrowed.

Base borrow rate Supply rate

Up to 92% utilization the base rate climbs gently from 0.00% to 5.00%. Past that point it climbs steeply, reaching 25.00% when everything is lent out.

USDC elsewhere on Aave

V3 markets and other V4 spokes

Compare all →

Market	Total supplied	Supply APY	Total borrowed	Borrow APY	Utilization
Ethereum CoreUSDC · $2.38B	$2.38B2.38B USDC	3.60%	$2.18B2.18B USDC	4.38%	91.6%
BaseUSDC · $181.8M	$181.8M181.86M USDC	3.70%	$159.8M159.80M USDC	4.70%	87.9%
ArbitrumUSDC · $181.2M	$181.2M181.19M USDC	2.93%	$153.9M153.89M USDC	3.85%	84.9%
MonadUSDC · $163.9M	$163.9M163.94M USDC	3.77%	$142.6M142.61M USDC	4.84%	87.0%
Arc MainV4USDC · $124.8M	$124.8M124.86M USDC	<0.01%	$1.16M1.16M USDC	0.04%base rate	0.9%
InkUSDC · $67.09M	$67.09M67.10M USDC	4.27%	$49.45M49.45M USDC	6.50%	73.7%
AvalancheUSDC · $63.62M	$63.62M63.63M USDC	3.47%	$55.99M55.99M USDC	4.40%	88.0%
PolygonUSDC · $28.12M	$28.12M28.12M USDC	3.32%	$17.96M17.97M USDC	6.60%	63.9%