Borrow against Ethereum memecoins
Teller pools accept 15 Ethereum memecoins and long-tail tokens as collateral, including PEPE, SHIB, MOG and SPX, at up to 33.3% LTV lending USDC. No major money market lists these assets. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral.
| Collateral | Network | LTV | APR |
|---|---|---|---|
| SHIB | Ethereum | 20% | 25% |
| APU | Ethereum | 22.2% | 45% |
| BITCOIN | Ethereum | 16.7% | 45% |
| PIXL | Ethereum | 33.3% | 45% |
| SPX | Ethereum | 16.7% | 42% |
| PEPE | Ethereum | 20% | 45% |
| SAND | Ethereum | 25% | 25% |
| PNKSTR | Ethereum | 20% | 25% |
| PEPE | Base | 18.2% | 25% |
| CHMPSTR | Ethereum | 20% | 15% |
| BAT | Ethereum | 33.3% | 20% |
| BARD | Ethereum | 22.2% | 25% |
| MOG | Ethereum | 22.2% | 45% |
| BEAM | Ethereum | 25% | 45% |
| ELON | Ethereum | 20% | 25% |
Pool data read . Rates and LTVs are set per pool and change when operators change them.
Mainnet memecoins nobody else lends against
Base gets most of the attention for memecoin collateral, but Ethereum carries its own set and Teller takes 15 of them, at ceilings up to 33.3%. PEPE at 0x6982508145454ce325ddbe47a25d4ec3d2311933 and SHIB at 0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce are the names most people arrive looking for.
MOG, SPX, APU, PEAS, PNKSTR, BITCOIN and BEAM fill out the rest, each with a single pool. Major money markets list around thirty assets and none of these are on the list, so a Teller pool is where they work as collateral at all.
Mainnet gas changes the calculation
A memecoin loan on Base costs cents to open. The same loan on Ethereum costs mainnet gas across the approval and the borrow, which is a real fraction of a small position. Size the loan so the cost of opening it is not the largest number in the trade, and consider whether the Base version of a token has a pool before borrowing against the mainnet one.
PEPE is the clearest case: it has pools on both chains at different contracts, so the choice is available. Compare the two rows before you sign.
What the LTV and APR mean
LTV is the share of your collateral’s value a pool will lend, and APR is the annual rate on what you borrow. On these rows the LTV is around a fifth and the rates run several times the majors.
Both follow from how fast the asset moves. An operator setting terms is judging how quickly they could sell the collateral, so a faster-moving token supports a smaller loan at a higher rate.
The fixed term earns its keep here
On a liquidation venue, a memecoin position can be closed when the drawdown arrives after you can react, and these assets lose that bet often. Rate, LTV and the roll window lock when a Teller loan opens, and the protocol holds the collateral until you repay or roll. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral. The move that would close you out elsewhere passes through untouched, and the due date carries the obligation instead.
Base has its own set: borrowing against Base memecoins.
Frequently asked questions
Teller does, on both Ethereum and Base at different contracts. Major money markets list around thirty assets and PEPE is not among them.
Yes. A Teller pool on Ethereum lends USDC against SHIB at the ceiling shown above, on a fixed term with no liquidation threshold during it.
Compare the rows. Mainnet gas across the approval and the borrow is a real fraction of a small position, while the same loan on Base costs cents, so the cheaper chain often wins on a modest loan.
LTV and APR both follow from how fast an asset moves, since an operator is judging how quickly they could sell the collateral. A faster-moving token supports a smaller loan at a higher rate than ether does.
Not during the term. Teller loans carry no liquidation threshold, so the move that would close you out elsewhere passes through untouched. You forfeit the collateral only if you miss the due date.
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.