Borrow against MORPHO
Teller pools accept MORPHO as collateral on Base at up to 28.6% LTV, lending USDC at 25.5% APR. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral.
| Collateral | Network | LTV | APR |
|---|---|---|---|
| MORPHO | Base | 28.6% | 25.5% |
Pool data read . Rates and LTVs are set per pool and change when operators change them.
One pool, on Base
MORPHO borrows on Base at 28.6% LTV and 25.5% APR, against 0xbaa5cc21fd487b8fcc2f632f3f4e8d37262a0842. One operator sets that row, so the rate is their view rather than a price several of them competed to reach.
The pool enforces that address at the deposit. MORPHO held on another network is a different contract and will not deposit here, so check which chain your balance is on before you start.
A lending token, borrowed against differently
Morpho builds isolated lending markets, where each market pairs one collateral with one loan asset and carries its own liquidation LTV. Borrowing inside one means holding a position above that threshold for as long as it is open.
This loan does the opposite. The threshold does not exist for the term: rate, LTV and the roll window lock at the start and the protocol holds the tokens until you repay or roll. If you already run positions in isolated markets, this is the instrument for the part of the balance you do not want exposed to another one.
Risk chosen per market, not pooled
The design worth understanding before you compare rows: a pooled money market socialises risk across every asset it lists, so a bad listing is everyone’s problem. Morpho splits that apart. Each market pairs one collateral with one loan asset and carries its own parameters, and vaults on top are curated by third parties who choose which markets to allocate into.
That is the same instinct behind the pools on this platform, where an operator sets the ceiling and the rate for one asset and lives with the consequences of that choice alone. The difference is what happens after you borrow: a curated vault position still has a threshold, and this loan does not.
The plain balance only
Tokens supplied into a Morpho market or a vault are a position rather than a balance, and cannot be deposited. Withdraw first, or use a free balance, and deposit it to the pool on its own chain.
The loan
Deposit MORPHO, receive USDC, repay or roll on the due date. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral. Miss the due date and the collateral is forfeit. Base gas keeps the approval and the borrow at cents.
See the DeFi set for the rest of the lending-protocol tokens Teller accepts.
Frequently asked questions
Different operators set them. The gap is one of the widest the platform carries for a single asset and reflects who priced each pool rather than anything about the token.
No. That is a position rather than a balance. Withdraw first, then deposit the plain token to the pool on its own chain.
An isolated market gives you a position above a liquidation LTV for as long as it is open. This loan has no threshold during the term at all.
No. The pool accepts the Base contract at 0xbaa5cc21fd487b8fcc2f632f3f4e8d37262a0842 and rejects everything else at the deposit, so bring the balance to Base first.
Cents in gas across the approval and the borrow, plus the quoted rate and a 1% marketplace fee.
Open a loan
Connect a wallet, deposit your collateral, and borrow a stablecoin. No credit check, no application.
Go to the borrow tab →No collateral to pledge? Check whether you pre-qualify for a no-collateral personal loan. Soft check, no hard pull.