USDC (Plus 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

3.23%

earned by suppliers

Base borrow rate

4.31%

before any risk premium

Supplied here

$3.03M

3.03M USDC

Borrowed here

$2.67M

2.67M USDC

Hub utilization

88.2%

Plus hub, all spokes

Available to borrow

$360K

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	3.03M of 6.00M USDC (50.5%)
Borrow cap used	2.67M of 6.38M USDC (41.9%)

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	Plus hub
Supplied across the hub	$3.03M
Borrowed across the hub	$2.67M
Spokes sharing it	1
Liquidity fee	15.00%
USDC token	0xA0b8…eB48
Spoke contract	0xba1B…08AF
Hub contract	0x0600…536A

USDC utilization and interest rate curve

Hub utilization is 88.2% right now. Set by the Plus 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 4.50%. Past that point it climbs steeply, reaching 24.50% 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%