contributor@AaveLabsgovernance.aave.com
↑Deploy Aave V4 on Arc Network
Proposed for listing on the new Aave V4 deployment on Arc, an institutional-focused L1 built by Circle, to serve as a core stablecoin collateral and borrow asset.
Overview
USDC(USDC)
Token Price$1
24h Change-0.0047%
All Time HighNov 15, 2018$1.04
All Time LowMar 11, 2023$0.88
Key Metrics
Market Cap$74.075b
Fully Diluted Valuation$74.078b
Circ. Supply74.089b USDC
Volume 24h$11.555b
CEX Volume$4.349b
DEX Volume$1.693b
Risks
How much debt can be issued against USDC as collateral across lending protocols.
Maximum possible exposure to USDC
$1.124b
$796.93m (max additional borrows against USDC) + $326.71m (bad debt if USDC was hacked now)
Aave V3
$573.97m at-risk exposure = $112.41m bad debt if hacked + $461.56m additional borrowable against USDC
Venus Core Pool
$269.03m at-risk exposure = $10.92m bad debt if hacked + $258.11m additional borrowable against USDC
Euler V2
$191.74m at-risk exposure = $161.93m bad debt if hacked + $29.82m additional borrowable against USDC
Neverland
$20.47m at-risk exposure = -- bad debt if hacked + $20.47m additional borrowable against USDC
Fluid
$18.4m at-risk exposure = $4.69m bad debt if hacked + $13.7m additional borrowable against USDC
Compound V3
$10.69m at-risk exposure = $46,973 bad debt if hacked + $10.64m additional borrowable against USDC
HyperLend Pooled
$2.62m at-risk exposure = -- bad debt if hacked + $2.62m additional borrowable against USDC
Morpho V1
$238,667 at-risk exposure = $232,436 bad debt if hacked + $6,230 additional borrowable against USDC
Lista Lending
$61.37 at-risk exposure = $49.49 bad debt if hacked + $11.88 additional borrowable against USDC
Maple
$36.48m at-risk exposure = $36.48m bad debt if hacked + $0 additional borrowable against USDC
SparkLend
$58.84 at-risk exposure = $58.84 bad debt if hacked + $0 additional borrowable against USDC
Methodology and limitations
Showing collateral exposure for USDC on onchain. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
- These metrics describe lending exposure only and are not a full protocol risk rating.
- This view does not include multisigs, timelocks, audits, oracle incidents, listing discussions, curator reports, or protocol backstops.
- Chain-specific drilldown is exact only when the token resolves to a concrete chain:address.
- Bad debt at $0 is a lower bound when some contributing markets return null for zero-price bad debt; null rows are excluded instead of being treated as zero.
Show exposure details
Each row is one protocol-chain exposure for USDC as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
USDC0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48 | $355.13m | $86.31m | ||
USDC0x8ac76a51cc950d9822d68b83fe1ad97b32cd580d | $258.11m | $10.92m | ||
USDC0xaf88d065e77c8cc2239327c5edb3a432268e5831 | $43.71m | $22.57m | ||
USDC0x833589fcd6edb6e08f4c7c32d4f71b54bda02913 | $40.32m | — | ||
USDC0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48 | $22.04m | $161.84m | ||
USDC0x754704bc059f8c67012fed69bc8a327a5aafb603 | $20.47m | — | ||
USDC0x3c499c542cef5e3811e1192ce70d8cc03d5c3359 | $14.23m | $2.77m | ||
USDC0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48 | $13.7m | $4.69m | ||
USDC0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48 | $9.73m | $46,972 | ||
USDC0x0b2c639c533813f4aa9d7837caf62653d097ff85 | $6.24m | — |
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Risk Timeline
Risk-management actions published about USDC by tracked risk managers and governance contributors, newest first.
risk managerGauntletcomp.xyz
↓Optimism USDC and USDT IRM Updates
The current interest rate model causes the protocol to lose money (deplete reserves) at typical utilization levels. This proposal raises the base borrow rate to ensure the protocol earns a positive spread, improving its financial health and reducing reliance on liquidation revenue.
contributor@AaveLabsgovernance.aave.com
↑Deploy Aave V4 on Avalanche
Proposed for inclusion in the new Aave V4 deployment on Avalanche, which is seen as a low-risk expansion due to the network's proven track record and existing Aave V3 user base.
risk managerGauntletcomp.xyz
↓Deprecation of Linea and Mantle Comets
The Compound III market on Linea using USDC as the base asset has seen limited adoption and is being deprecated to wind down activity.
risk managerBlock Analiticaforum.skyeco.com
↑Increase USDC Peg Stability Module Capacity
USDC reserves in the main stability module have more than doubled to over $4B, but the parameters governing swap capacity have not been updated. This change increases the buffer to handle larger daily USDC inflows and prevent swap failures during periods of high demand.
contributor@0xF97c00fab22A45eB27163D0f0065Da00Da10624Bsnapshot.box/s:sparkfi.eth
↑Spark Liquidity Layer to Integrate with Binance for Stablecoin Swaps
Spark is integrating with Binance to facilitate large-scale swaps between USDC and USDT, leveraging Binance's deep liquidity. This introduces Binance as a new counterparty, with exposure limited by a $5M per-transaction cap and automated controls.
contributor@AranaDigitalcomp.xyz
↑Compound DAO seeks managers for its treasury assets
The Compound DAO is seeking professional managers to deploy its treasury reserves, including this asset, into active yield strategies. This initiative aims to move idle capital into more productive, risk-managed investments to generate higher returns for the DAO.
contributor@AaveLabsgovernance.aave.com
↑Deploy Aave V4 on Arc
Proposed as an initial collateral asset for a new Aave V4 deployment on Arc, a Layer-1 blockchain built by Circle for institutional finance and stablecoin liquidity.
risk managerBlock Analiticaforum.skyeco.com
↓Risk Month in Review: May 2026
The Reserve Factor was increased, meaning the protocol will retain a larger share of interest paid by borrowers. This action reduces the yield for lenders of this asset.
contributor@0x8541cCfc6E7EAcEbD233C6789a0FbF7C708B0E68snapshot.box/s:sparkfi.eth
↑Expand approved collateral and venues for Arkis infrastructure
Proposes adding fully reserved, compliant USD stablecoins as approved collateral for Arkis infrastructure credit lines. The change is justified by high user demand and the assets' historical data showing low volatility.
Markets
Token Usage
An is required to view token usage.
Liquidations
An is required to view token liquidations.
Yields
Showing 10 of 3028 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabUSDC-VELVETCL1 - 0.01% | $3.39m | 74603% | 2.35% | 177713% | |||||
| open in new tabUSDC-NOCK | $1.33m | 530393% | 159342% | ||||||
| open in new tabCTR-USDCCL1 - 0.01% | $546,272 | 39167% | 142493% | ||||||
| open in new tabUSDC-WETHCL - 10 | 🪂 | $59,049 | 49431% | 0% | 49431% | 22170% | |||
| open in new tabWAVAX-USDCCL - 1 | $43,203 | 292256% | 0% | 170715% | |||||
| open in new tabUSDC-VFYCL1 - 0.085% | $31,581 | 42997% | 0.18% | 105874% | |||||
| open in new tabUSDC-CBBTCCL1 - 0.01% | $29,741 | 25885% | 15023% | ||||||
| open in new tabWAVAX-USDCCL - 1 | $26,764 | 224648% | 0% | 203510% | |||||
| open in new tabEURC-USDCCL - 1 | 🪂 | $16,993 | 27674% | 0% | 27674% | 28261% | |||
| open in new tabUSDCOdins Reserve | 🪂 | $10,030 | 40897% | 40897% | 12691% |
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Borrow
Showing 10 of 40300 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabUSDC ➞ CBBTC | $10.41m | 804% | 804% | 1.07% | 45% | $5.41m | $5.41m | ||
| open in new tabUSDC ➞ MORPHO | $9.06m | 807% | 804% | 7.75% | 45% | $5.41m | $5.41m | ||
| open in new tabUSDC ➞ LBTC | $3.14m | 804% | 804% | 1.02% | 45% | $5.41m | $5.41m | ||
| open in new tabUSDC ➞ VVV | $708,241 | 810% | 804% | 13.54% | 45% | $5.41m | $5.41m | ||
| open in new tabUSDC ➞ USDT | $522,828 | 804% | 804% | 0.97% | 45% | $5.41m | $5.41m | ||
| open in new tabUSDC ➞ XLM | $512,088 | 804% | 804% | 1.05% | 45% | $5.41m | $5.41m | ||
| open in new tabUSDC ➞ TBTC | $42,881 | 804% | 804% | 0.79% | 45% | $5.41m | $5.41m | ||
| open in new tabUSDC ➞ WBTC.E | $11,989 | 805% | 804% | 1.64% | 45% | $5.41m | $5.41m | ||
| open in new tabUSDC ➞ USDCX | $8,477 | 808% | 804% | 8.50% | 45% | $5.41m | $5.41m | ||
| open in new tabUSDC ➞ MOVE | $6,430 | 810% | 804% | 13.76% | 45% | $5.41m | $5.41m |
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