---
title: "Borrow USDC on USP/USDC 86%"
description: "Earn rewards by borrowing USDC using USP on Morpho on Ethereum"
canonical: "https://app.merkl.xyz/opportunities/369155695429550021"
chain: "Ethereum"
protocol: "Morpho"
type: "MORPHOBORROW"
page: 1
items: 25
totalPages: 1
updated: 2026-06-17T08:22:46.000Z
---

# Borrow USDC on USP/USDC 86%

## Back to

- [Opportunities index (HTML)](https://app.merkl.xyz/)
- [Ethereum chain (markdown)](https://app.merkl.xyz/chains/ethereum.md)
- [Morpho protocol (markdown)](https://app.merkl.xyz/protocols/morpho.md)

Earn rewards by borrowing USDC using USP on Morpho on Ethereum

## Key metrics

- **Total Value Locked**: $4,161,037.85
- **APR**: 7.20%
- **Native APR**: —
- **Daily rewards**: $821.36
- **Live campaigns**: 1
- **Chain**: Ethereum
- **Protocol**: Morpho

## Tokens

- [USDC](https://app.merkl.xyz/tokens/USDC.md)

## Campaigns — page 1 of 1 (9 total)

| Campaign | Status | Reward | APR | Daily $ | Start | End |
| --- | --- | --- | --- | --- | --- | --- |
| [0xffe1e6…](https://app.merkl.xyz/opportunities/369155695429550021/campaigns/0xffe1e664ffb25027ba03bbfb0ed42c8b7594fdc6000ef77a595c8aa3eab65da0.md) | live | [PIKU](https://app.merkl.xyz/tokens/PIKU.md) | 7.20% | $821.36 | 2026-06-18 | 2026-06-25 |
| [0xf7a8de…](https://app.merkl.xyz/opportunities/369155695429550021/campaigns/0xf7a8debad3637d5d839ec7de9a1f2ce6bea9fbf33b7dade97938aec74ec7ba67.md) | past | [PIKU](https://app.merkl.xyz/tokens/PIKU.md) | 0.00% | $0 | 2026-06-11 | 2026-06-18 |
| [0x36105c…](https://app.merkl.xyz/opportunities/369155695429550021/campaigns/0x36105c347f0681019f3bf17891ecf6d2bc2f012d4455a26b714e577f932c25d6.md) | past | [PIKU](https://app.merkl.xyz/tokens/PIKU.md) | 0.00% | $0 | 2026-06-04 | 2026-06-11 |
| [0x177d00…](https://app.merkl.xyz/opportunities/369155695429550021/campaigns/0x177d0056d68b5e158a027caa41e218ae43c225fc2f0619ea6fd9bd6e46576c0d.md) | past | [PIKU](https://app.merkl.xyz/tokens/PIKU.md) | 0.00% | $0 | 2026-05-28 | 2026-06-04 |
| [0x796102…](https://app.merkl.xyz/opportunities/369155695429550021/campaigns/0x7961026a12d80eaccc03d06a30dcd9a9e5997e25912cd24380c5441cbbed2945.md) | past | [PIKU](https://app.merkl.xyz/tokens/PIKU.md) | 0.00% | $0 | 2026-05-21 | 2026-05-28 |
| [0x0a16aa…](https://app.merkl.xyz/opportunities/369155695429550021/campaigns/0x0a16aa2b709812353ba52ae3c00935d87a8f69d180a604e23d1b8cc86bd727d6.md) | past | [PIKU](https://app.merkl.xyz/tokens/PIKU.md) | 0.00% | $0 | 2026-05-14 | 2026-05-21 |
| [0xc9b9cf…](https://app.merkl.xyz/opportunities/369155695429550021/campaigns/0xc9b9cf91f25a50784c86e35ee0f6a44f1f0c0aba0a82e6f0258c5a795e294bcb.md) | past | [PIKU](https://app.merkl.xyz/tokens/PIKU.md) | 0.00% | $0 | 2026-05-07 | 2026-05-14 |
| [0x48d2b0…](https://app.merkl.xyz/opportunities/369155695429550021/campaigns/0x48d2b0043c80d1ba9fa9a915a82d9a2295529b66f7c1f717da4a5dd828f1718e.md) | past | [PIKU](https://app.merkl.xyz/tokens/PIKU.md) | 0.00% | $0 | 2026-04-30 | 2026-05-07 |
| [0xc50c43…](https://app.merkl.xyz/opportunities/369155695429550021/campaigns/0xc50c436e0f59f8250a567a563f9361da876c52a2a8a6071cdc763b044f0a3763.md) | past | [PIKU](https://app.merkl.xyz/tokens/PIKU.md) | 0.00% | $0 | 2026-04-23 | 2026-04-30 |

## Participate

- [Deposit](https://app.morpho.org/ethereum/market/0x5d41b8d23ccf6d9e9f7e2b1b357d92bba6ef0367d6ef8ceda965f73e52108461)

## Links

- [Open in Merkl App (HTML)](https://app.merkl.xyz/opportunities/369155695429550021)
- [Ethereum chain page](https://app.merkl.xyz/chains/ethereum)
- [Morpho protocol page](https://app.merkl.xyz/protocols/morpho)