# Morpho V1 Markets | Blockchain | Name | Rating | 1. Counterparty risk | 2. Credit Risk | 3. Operational Risk | Platform Grade | Market Grade | Adjusted Asset Grade | | ---------- | --------------------------------------------- | ------ | -------------------- | -------------- | ------------------- | -------------- | ------------ | -------------------- | | Ethereum | cbBTC/USDC (86%) | A | AA | A | A | | A | A | | Ethereum | PT-USDS-14AUG2025/USDC (91.5%) | BB | BB | B | A | A | BB | BB | | Ethereum | mF-ONE/USDC (91.5%) | B | BB | CC | B | | B | B | | Ethereum | csUSDL/USDC (91.5%) | A | A | A | A | A | A | A | | Ethereum | WBTC/USDC (86%) | A | AA | A | A | | A | A | | Ethereum | wstETH/USDC (86%) | A | A | A | AA | | A | A | | Ethereum | liUSD-1w/USDC (86%) | CC | CC | B | B | | BB | CC | | Ethereum | iUSD/USDC (91.5%) | CC | CC | BB | B | | A | CC | | Ethereum | siUSD/USDC (91.5%) | CC | CC | BB | B | | A | CC | | Ethereum | PT-iUSD-19FEB2026/USDC (91.5%) | CC | CC | BB | B | A | A | CC | | Ethereum | PAXG/PYUSD (77%) | A | A | A | A | | A | A | | Ethereum | sUSDe/USDC (91.5%) | B | B | B | BB | | A | B | | Ethereum | PT-sUSDE-25SEP2025/USDC (91.5%) | B | B | B | BB | A | A | B | | Ethereum | syrupUSDC/USDC (91.5%) | CC | CC | B | B | | BB | CC | | Ethereum | PT-syrupUSDC-28AUG2025/USDC (86%) | CC | CC | B | B | A | BB | CC | | Ethereum | slvlUSD/USDC (91.5%) | CC | CC | A | B | | CC | CC | | Ethereum | lvlUSD/USDC (91.5%) | CC | CC | A | B | | CC | CC | | Base | PT-USR-25SEP2025/USDC (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | PT-USDe-5FEB2026/USDC (91.5%) | B | B | B | BB | A | A | B | | Ethereum | PT-sUSDE-5FEB2026/USDC (91.5%) | B | B | B | BB | A | A | B | | Ethereum | PT-cUSDO-20NOV2025/USDC (91.5%) | BB | A | A | BB | A | BB | BB | | Ethereum | USR/USDC (91.5%) | CC | CC | B | B | | A | CC | | Ethereum | wstUSR/USDC (91.5%) | CC | CC | B | B | | A | CC | | Ethereum | srUSD/USDC (91.5%) | CC | CC | B | B | | CC | CC | | Ethereum | srUSD/rUSD (98%) | CC | CC | B | B | | AA | CC | | Ethereum | PT-wsrUSD-30OCT2025/USDC (91.5%) | CC | CC | B | B | A | BB | CC | | Katana | LBTC/vbUSDC (86%) | B | B | B | A | | BB | B | | Base | cbBTC/USDC (86%) | A | AA | A | A | | A | A | | Base | WETH/USDC (86%) | A | AA | AA | AA | | A | AA | | Base | cbETH/USDC (86%) | A | AA | A | A | | A | A | | Base | wstETH/USDC (86%) | A | A | A | AA | | A | A | | Ethereum | PT-syrupUSDC-30OCT25/USDC (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | PT-sUSDE-27NOV2025/USDC (91.5%) | B | B | B | BB | A | A | B | | Ethereum | LBTC/USDC (86%) | B | B | B | A | | BB | B | | Ethereum | PT-PendleInfiniFi-siUSD-9OCT2025/USDC (91.5%) | CC | CC | BB | B | A | A | CC | | Ethereum | PT-USDe-27NOV2025/USDC (91.5%) | B | B | B | BB | A | A | B | | Ethereum | PT-rUSD-30OCT2025/USDC (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | wsrUSD/USDC (91.5%) | CC | CC | B | B | | A | CC | | Ethereum | PT-csUSDL-30OCT2025/USDC (91.5%) | BB | A | A | A | A | BB | A | | Ethereum | stUSD/USDC (96.5%) | B | B | A | B | | BB | B | | Ethereum | USCC/USDC (91.5%) | BB | A | B | A | | BB | A | | Ethereum | tBTC/USDC (77%) | BB | BB | A | A | | A | BB | | Ethereum | wsrUSD/USDT (94.5%) | CC | CC | B | B | | A | CC | | Ethereum | sUSDe/USDT (91.5%) | B | B | B | BB | | A | B | | Ethereum | PT-wsrUSD-30OCT2025/USDT (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | sUSDe/USDtb (91.5%) | B | B | B | BB | | A | B | | Ethereum | WBTC/USDT (86%) | A | AA | A | A | | A | A | | Ethereum | wstETH/USDT (86%) | A | A | A | AA | | A | A | | Ethereum | csUSDL/USDT (96.5%) | A | A | A | A | A | A | A | | Ethereum | PT-USDE-25SEP2025/USDT (91.5%) | B | B | B | BB | A | A | B | | Ethereum | PT-cUSDO-20NOV2025/USDT (91.5%) | BB | A | A | BB | A | BB | BB | | Ethereum | PT-csUSDL-30OCT2025/USDT (91.5%) | B | A | A | A | B | BB | A | | Ethereum | sUSDS/USDT (96.5%) | B | BB | B | A | | B | B | | Ethereum | PT-sUSDE-25SEP2025/USDT (91.5%) | B | B | B | BB | A | A | B | | Ethereum | PT-sUSDE-27NOV2025/USDT (91.5%) | B | B | B | BB | A | A | B | | Ethereum | syrupUSDC/USDT (91.5%) | CC | CC | B | B | | BB | CC | | Ethereum | USR/USDT (91.5%) | CC | CC | B | B | | A | CC | | Ethereum | PT-syrupUSDC-28AUG2025/USDT (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | PT-syrupUSDC-30OCT2025/USDT (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | PT-USDe-27NOV2025/USDT (91.5%) | B | B | B | BB | A | A | B | | Ethereum | stUSD/USDT (96.5%) | B | B | A | B | | BB | B | | Ethereum | PT-rUSD-30OCT2025/USDT (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | XAUt/USDT (77%) | BB | BB | BB | BB | | A | BB | | Ethereum | srUSD/rUSD (98%) | CC | CC | B | B | | AA | CC | | Ethereum | PT-wsrUSD-30OCT2025/rUSD (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | PT-rUSD-30OCT2025/rUSD (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | WBTC/rUSD (86%) | A | AA | A | A | | A | A | | Ethereum | wstETH/rUSD (86%) | A | A | A | AA | | A | A | | Ethereum | wstETH/WETH (96.5%) | A | A | A | AA | | A | A | | Ethereum | wstETH/WETH (94.5%) | A | A | A | AA | | A | A | | Ethereum | WBTC/WETH (91.5%) | A | AA | A | A | | A | A | | Ethereum | cbBTC/WETH (91.5%) | A | AA | A | A | | A | A | | Ethereum | WBTC/wUSDL (86%) | A | AA | A | A | | A | A | | Ethereum | wstETH/wUSDL (86%) | A | A | A | AA | | A | A | | Ethereum | csUSDC/wUSDL (96.5%) | A | A | A | A | A | A | A | | Ethereum | cbBTC/wUSDL (86%) | A | AA | A | A | | A | A | | Ethereum | PAXG/wUSDL (77%) | A | A | A | A | | A | A | | Base | steakSUSDS/USDC (96.5%) | BB | BB | BB | A | A | A | BB | | Base | LBTC/USDC (86%) | B | B | B | A | | BB | B | | Base | weETH/USDC (77%) | BB | BB | BB | AA | | BB | BB | | Base | AERO/USDC (62.5%) | BB | BB | B | A | | A | BB | | Base | PT-USDe-11DEC2025/USDC (91.5%) | B | B | B | BB | A | A | B | | Base | cUSDO/USDC (91.5%) | BB | A | A | BB | | BB | BB | | Base | USR/USDC (91.5%) | CC | CC | B | B | | A | CC | | Ethereum | PT-iUSD-4DEC2025/USDC (91.5%) | CC | CC | BB | B | A | A | CC | | Katana | vbWBTC/vbUSDC (86%) | A | AA | A | A | A | A | A | | Katana | vbETH/vbUSDC (86%) | A | AA | AA | AA | A | A | AA | | Katana | BTCK/vbUSDC (86%) | B | B | A | B | | BB | B | | Katana | POL/vbUSDC (77%) | BB | BB | B | A | | A | BB | | Base | wsrUSD/USDC (91.5%) | CC | CC | B | B | | CC | CC | | Katana | vbWBTC/AUSD (86%) | A | AA | A | A | A | A | A | | Katana | BTCK/AUSD (77%) | B | B | A | B | | BB | B | | Katana | LBTC/AUSD (86%) | B | B | B | A | | BB | B | | Katana | vbETH/AUSD (86%) | A | AA | AA | AA | A | A | AA | | Katana | wstETH/AUSD 86% | CC | A | A | AA | | CC | A | | Ethereum | wstETH/PYUSD (86%) | A | A | A | AA | | A | A | | Ethereum | WBTC/PYUSD (86%) | A | AA | A | A | | A | A | | Ethereum | wUSDL/PYUSD (98%) | A | A | A | A | | A | A | | Base | cbBTC/EURC (86%) | A | AA | A | A | | A | A | | Base | cbETH/EURC (86%) | A | AA | A | A | | A | A | | Base | wstETH/EURC (86%) | A | A | A | AA | | A | A | | Base | WETH/EURC (86%) | A | AA | AA | AA | | A | AA | | Base | stEUR/USDA (86%) | B | B | BB | B | | A | B | | Base | wstETH/USDA (86%) | A | A | A | AA | | A | A | | Base | WETH/USDA (86%) | A | AA | AA | AA | | A | AA | | Base | cbETH/USDA (86%) | A | AA | A | A | | A | A | | Base | cbETH/EURA (86%) | A | AA | A | A | | A | A | | Base | wstETH/EURA (86%) | A | A | A | AA | | A | A | | Base | WETH/EURA (86%) | A | AA | AA | AA | | A | AA | | Base | stUSD/EURA (86%) | B | B | A | B | | A | B | | Base | cbBTC/sUSDS (86%) | A | AA | A | A | | A | A | | Base | wstETH/sUSDS (86%) | A | A | A | AA | | A | A | | Ethereum | PT-USDe-27NOV2025/USDtb (91.5%) | B | B | B | BB | A | BB | B | | Ethereum | PT-sUSDE-27NOV2025/USDtb (91.5%) | B | B | B | BB | A | BB | B | | Ethereum | PT-sUSDE-25SEP2025/UStb (91.5%) | B | B | B | BB | A | BB | B | | Ethereum | sUSDS/USDtb (91.5%) | BB | BB | B | A | | A | BB | | Ethereum | PT-USDE-25SEP2025/USDtb (91.5%) | B | B | B | BB | A | BB | B | | Ethereum | USDe/USDtb (91.5%) | B | B | B | BB | | BB | B | | Ethereum | weETH/wstETH (94.5%) | BB | A | BB | AA | | BB | A | | Ethereum | rsETH/wstETH (94.5%) | CC | CC | B | A | | BB | CC | | Ethereum | rsETH | CC | CC | B | A | | BB | CC | | Ethereum | ynETHx/wstETH (91.5%) | CC | CC | B | A | | BB | CC | | Ethereum | ynETHx | CC | CC | B | A | | BB | CC | | Ethereum | ezETH/wstETH (94.5%) | CC | CC | B | A | | BB | CC | | Ethereum | ezETH | CC | CC | B | A | | BB | CC | | Ethereum | bbqWSTETH/WETH (94.5%) | A | A | BB | A | A | A | A | | Ethereum | ezETH/WETH (94.5%) | CC | CC | B | A | | BB | CC | | Ethereum | rsETH/WETH (94.5%) | CC | CC | B | A | | BB | CC | | Ethereum | ynETHx/WETH (91.5%) | CC | CC | B | A | | BB | CC | | Ethereum | weETH/WETH (94.5%) | BB | A | BB | AA | | BB | A | | Base | wstETH/WETH (94.5%) | A | A | A | AA | | A | A | | Base | wstETH/WETH (96.5%) | A | A | A | AA | | A | A | | Base | wstETH/WETH (94.5%) | A | A | A | AA | | A | A | | Base | cbETH/WETH (96.5%) | A | AA | A | A | | A | A | | Base | cbETH/WETH (94.5%) | A | AA | A | A | | A | A | | Base | cbBTC/WETH (91.5%) | A | AA | A | A | | A | A | | Unichain | wstETH/WETH (96.5%) | A | A | A | AA | | A | A | | Ethereum | wstETH/EURCV (86%) | A | A | A | AA | | A | A | | Ethereum | cbBTC/EURCV (86%) | A | AA | A | A | | A | A | | Ethereum | wstETH/WBTC (86%) | A | A | A | AA | | A | A | | Ethereum | LBTC/cbBTC (94.5%) | B | B | B | A | | BB | B | | Ethereum | sUSDe/DAI (91.5%) | B | B | B | BB | | A | B | | Ethereum | sUSDe/DAI (86%) | B | B | B | BB | | A | B | | Ethereum | sUSDe/DAI (94.5%) | B | B | B | BB | | BB | B | | Ethereum | USDe/DAI (86%) | B | B | B | BB | | A | B | | Ethereum | USDe/DAI (91.5%) | B | B | B | BB | | A | B | | Ethereum | PT-siUSD-8JAN2026/USDC (91.5%) | CC | CC | BB | B | A | A | CC | | Ethereum | PT-syrupUSDC-18DEC2025 / USDC (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | PT-srUSDe-15JAN2026/USDC (91.5%) | CC | CC | BB | B | BB | CC | CC | | Ethereum | PT-wsrUSD-26FEB2026/USDC (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | PT-RUSD-26FEB2026 / USDC (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | sUSDe/DAI (94.5%) | B | B | B | BB | | BB | B | | Ethereum | USDe/DAI (86%) | B | B | B | BB | | A | B | | Ethereum | USDe/DAI (91.5%) | B | B | B | BB | | A | B | | Ethereum | PT-siUSD-8JAN2026/USDC (91.5%) | CC | CC | BB | B | A | A | CC | | Ethereum | PT-wsrUSD-26FEB2026/USDT (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | PT-wsrUSD-26FEB2026/rUSD (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | PT-RUSD-26FEB2026 / rUSD (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | PT-RUSD-26FEB2026 / USDT (91.5%) | CC | CC | B | B | A | BB | CC | | Base | cbETH/USDC (77%) | A | AA | A | A | | A | A | | Base | cbXRP/USDC (77%) | A | AA | A | A | | A | A | | Base | cbLTC/USDC (62.5%) | A | AA | A | A | | A | A | | Base | cbADA/USDC (77%) | A | AA | A | A | | A | A | | Base | cbDOGE/USDC (62.5%) | A | AA | A | A | | A | A | | Katana | wsrUSD/USDC (91.5%) | CC | CC | B | B | | A | CC | | Ethereum | PT-srUSDe-2APR2026/USDC (91.5%) | CC | CC | BB | B | BB | CC | CC | | Ethereum | WETH/USDC (86%) | A | AA | AA | AA | | A | AA | | Ethereum | AA\_FalconXUSDC/AUSD (77.0%) | B | BB | BB | BB | A | B | BB | | Ethereum | AA\_FalconXUSDC/USDC (77.0%) | B | BB | BB | BB | | B | BB | | Ethereum | ACRDX/USDC (62.5%) | B | A | B | A | | A | B | | Base | cbADA/USDC (62.5%) | A | AA | A | A | | A | A | | Ethereum | cbBTC/AUSD (86.0%) | A | AA | A | A | | A | A | | Ethereum | cbBTC/EURC (86.0%) | A | AA | A | A | | A | A | | Ethereum | cbBTC/USDT (86.0%) | A | AA | A | A | | A | A | | Base | cbBTC/XSGD (86.0%) | A | AA | A | A | | A | A | | Base | cbETH/XSGD (86.0%) | BB | AA | A | A | | BB | A | | Base | cbXRP/USDC (62.5%) | A | AA | A | A | | A | A | | Ethereum | EUTBL/EURCV (96.5%) | A | A | A | A | | A | A | | Ethereum | PT-cUSD-23JUL2026/AUSD (91.5%) | CC | CC | A | A | BB | BB | CC | | Ethereum | PT-cUSD-23JUL2026/USDC (91.5%) | CC | CC | A | A | BB | BB | CC | | Ethereum | PT-cUSD-23JUL2026/USDT (91.5%) | CC | CC | A | A | BB | BB | CC | | Ethereum | PT-cUSD-29JAN2026/AUSD (91.5%) | CC | CC | A | A | BB | A | CC | | Ethereum | PT-iUSD-25JUN2026/USDC (91.5%) | CC | CC | BB | B | BB | A | CC | | Ethereum | PT-reUSD-25JUN2026/AUSD (91.5%) | B | BB | B | BB | BB | B | B | | Ethereum | PT-reUSD-25JUN2026/USDC (91.5%) | CC | BB | B | BB | BB | CC | B | | Ethereum | PT-reUSD-25JUN2026/USDT (91.5%) | B | BB | B | BB | BB | B | B | | Ethereum | PT-siUSD-26MAR2026/USDC (91.5%) | CC | CC | BB | B | BB | A | CC | | Ethereum | PT-srUSDe-25JUN2026/AUSD (91.5%) | CC | CC | BB | B | BB | A | CC | | Ethereum | PT-srUSDe-25JUN2026/USDC (91.5%) | CC | CC | BB | B | BB | A | CC | | Ethereum | PT-srUSDe-25JUN2026/USDT (91.5%) | CC | CC | BB | B | BB | A | CC | | Ethereum | PT-srUSDe-2APR2026/AUSD (91.5%) | CC | CC | BB | B | BB | A | CC | | Ethereum | PT-srUSDe-2APR2026/USDT (91.5%) | CC | CC | BB | B | BB | A | CC | | Ethereum | PT-stcUSD-23JUL2026/AUSD (91.5%) | CC | CC | A | A | BB | BB | CC | | Ethereum | PT-stcUSD-23JUL2026/USDC (91.5%) | CC | CC | A | A | BB | BB | CC | | Ethereum | PT-stcUSD-23JUL2026/USDT (91.5%) | CC | CC | A | A | BB | BB | CC | | Ethereum | PT-stcUSD-29JAN2026/AUSD (91.5%) | CC | CC | A | A | BB | A | CC | | Ethereum | PT-stcUSD-29JAN2026/USDC (91.5%) | CC | CC | A | A | BB | A | CC | | Arbitrum | PT-USDai-18JUN2026/USDC (91.5%) | CC | CC | A | B | BB | AA | CC | | Base | PT-USDai-18JUN2026/USDC (91.5%) | CC | CC | A | B | BB | BB | CC | | Arbitrum | PT-USDai-19FEB2026/USDC (91.5%) | CC | CC | A | B | BB | A | CC | | Arbitrum | PT-USDai-19FEB2026/USDC (91.5%) | CC | CC | A | B | BB | A | CC | | Ethereum | PT-USDG-28MAY2026/AUSD (94.5%) | BB | BB | A | A | BB | A | BB | | Ethereum | PT-USDG-28MAY2026/USDC (94.5%) | BB | BB | A | A | BB | A | BB | | Ethereum | PT-wsrUSD-26FEB2026/AUSD (91.5%) | CC | CC | B | B | A | BB | CC | | Ethereum | reUSD/AUSD (91.5%) | B | BB | B | BB | A | B | B | | Base | reUSD/USDC (91.5%) | B | BB | B | BB | A | B | B | | Ethereum | reUSD/USDC (91.5%) | B | BB | B | BB | A | B | B | | Ethereum | reUSD/USDT (91.5%) | B | BB | B | BB | A | B | B | | Arbitrum | siUSD/USDC (91.5%) | CC | CC | BB | B | | A | CC | | Ethereum | stcUSD/AUSD (91.5%) | CC | CC | A | A | | A | CC | | Ethereum | stcUSD/USDC (91.5%) | CC | CC | A | A | | BB | CC | | Ethereum | stcUSD/USDT (91.5%) | CC | CC | A | A | | A | CC | | Ethereum | steakUSDC(v2)/EURC (91.5%) | A | A | A | A | A | A | A | | Ethereum | steakUSDC(v2)/EURCV (91.5%) | A | A | A | A | A | A | A | | Base | steakUSDC/XSGD (91.5%) | BB | BB | A | A | A | A | BB | | Ethereum | sUSDe/AUSD (91.5%) | B | B | B | BB | | A | B | | Ethereum | sUSDS/AUSD (94.5%) | BB | BB | B | A | A | BB | BB | | Arbitrum | sUSDS/USDC (94.5%) | BB | BB | B | A | | BB | BB | | Ethereum | syrupUSDC/AUSD (91.5%) | CC | CC | B | B | | BB | CC | | Arbitrum | syrupUSDC/USDC (91.5%) | CC | CC | B | B | | BB | CC | | Base | syrupUSDC/USDC (91.5%) | CC | CC | B | B | | BB | CC | | Ethereum | syrupUSDT/USDT (91.5%) | CC | CC | B | B | | BB | CC | | Ethereum | WBTC/AUSD (86.0%) | A | AA | A | AA | | A | A | | Ethereum | WBTC/EURC (86.0%) | A | AA | A | AA | | A | A | | Ethereum | WBTC/EURCV (86.0%) | A | AA | A | AA | | A | A | | Arbitrum | WBTC/USDC (86.0%) | A | AA | A | AA | | A | A | | Ethereum | weETH/AUSD (86.0%) | A | A | BB | AA | | A | A | | Arbitrum | weETH/USDC (86.0%) | A | A | BB | AA | | A | A | | Ethereum | weETH/USDC (86.0%) | A | A | BB | AA | | A | A | | Ethereum | weETH/USDT (86.0%) | A | A | BB | AA | | A | A | | Ethereum | WETH/AUSD (86.0%) | A | AA | AA | AA | | A | AA | | Arbitrum | WETH/USDC (86.0%) | A | AA | AA | AA | | A | AA | | Base | WETH/XSGD (86.0%) | A | AA | AA | AA | | A | AA | | Ethereum | wsrUSD/AUSD (91.5%) | CC | CC | B | B | | A | CC | | Arbitrum | wsrUSD/USDC (91.5%) | CC | CC | B | B | | A | CC | | Ethereum | wstETH/AUSD (86.0%) | A | A | A | AA | | A | A | | Ethereum | wstETH/EURC (86.0%) | A | A | A | AA | | A | A | | Arbitrum | wstETH/USDC (86.0%) | A | A | A | AA | | A | A | | Base | wstETH/XSGD (86.0%) | A | A | A | AA | | A | A | | Arbitrum | wstUSR/USDC (91.5%) | CC | CC | B | B | | A | CC | | Base | wstUSR/USDC (91.5%) | CC | CC | B | B | | A | CC | | Arbitrum | XAUt/USDC (77.0%) | BB | BB | BB | BB | | A | BB | *Last pushed: 2026-04-24T03:38:47.958Z* --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://steakhouse.financial/docs/markets/readme/morpho-v1.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.