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Beta·March 2026·Join Early Access→
TVL $12MAPY 1.25%low riskUpdated Feb 1, 2025

Morpho WETH / cbETH

Isolated lending market on Morpho Blue Base for WETH with Coinbase cbETH collateral. Enables leveraged Coinbase staking on Base.

ProtocolMorpho
Networkbase
SymbolWETH/CBETH
CategoryMoney Markets
Underlying Assets
WETHcbETH
Contract Address0x8b9c0d1e2f3a4b5c6d7e8f9a0b1c2d3e4f5a6b7c8d9e0f1a2b3c4d5e6f7a8b9c0

What is Morpho WETH / cbETH (Base)?

Morpho WETH / cbETH is an isolated lending market on Morpho Blue's Base deployment designed for leveraged staking with Coinbase's liquid staking token. Suppliers lend WETH while borrowers use cbETH (Coinbase Staked ETH) as collateral.

How This Market Works

This market enables Coinbase staking leverage:

  1. Supply WETH to the Base lending pool
  2. Receive vault tokens representing your position
  3. Earn interest from cbETH-collateralized borrowers
  4. Withdraw WETH plus yield (subject to utilization)
Native Coinbase Integration: Both Base and cbETH are Coinbase products, creating seamless integration.

What Assets Are Involved

Supply Asset: WETH (Base) Collateral Asset: cbETH (Coinbase Staked ETH on Base) Market Type: Isolated lending with high LLTV (E-Mode style)

cbETH on Base:

  • Native to Coinbase ecosystem
  • Earns Coinbase staking yield
  • Optimal Base integration
  • Deep ecosystem liquidity

Leveraged Staking Strategy

Borrowers can:

  • Deposit cbETH as collateral
  • Borrow WETH
  • Convert to more cbETH
  • Amplify staking yield
Coinbase Synergy: The full strategy stays within Coinbase ecosystem.

Risk Disclosures

Smart Contract Risk: Exposure to Morpho Blue (Base) and Coinbase cbETH. Layer 2 Risk: Base sequencer operated by Coinbase. cbETH Risk: Coinbase staking operations and validator risk. Leverage Risk: Amplified losses from cbETH/ETH divergence. Oracle Risk: Accurate cbETH/ETH pricing. Utilization Risk: High utilization may prevent withdrawals. Coinbase Concentration: Network, collateral, and sequencer all Coinbase-operated. Regulatory Risk: Coinbase's regulatory status affects all components.

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Disclaimer: APY and TVL figures are based on on-chain data and may fluctuate. Past performance does not guarantee future results. DeFi investments carry smart contract, market, and liquidity risks. This content is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing.

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