Markets

A market is one row in this table. This view covers Morpho Blue and Euler lending markets. Aave V3 isn't here because Aave doesn't have a per-pair market concept; its data lives under Yields and Overview.

morpho-blue is the base market layer used by both Morpho V1 and V2 vaults. Each market is one loan asset + one collateral asset + one liquidation threshold (LLTV). WETH-as-collateral borrowing USDC at 86% LLTV is its own market. Change any of those three parameters and you get a different market. Morpho markets are immutable: parameters can't be tweaked after creation. The V1/V2 distinction lives one layer up, in the vaults that allocate deposits across these markets.

euler-lend is Euler V2 on Base. Each Euler vault is itself a market that can accept multiple collateral types, each with its own LTV configured by the vault's governor. LTVs can ramp over time. Each row below is one collateral pairing within a Euler vault.

Two rows showing 86% LLTV can behave very differently. Morpho's is hard-coded forever. Euler's can be ramped down by the vault governor. Same number on screen, different operational reality.