Credit on Base (Morpho Blue)

On Base, credit runs on Morpho Blue: a single immutable contract holding isolated markets. Each market is fixed forever by five parameters: loan token, collateral token, oracle, interest-rate model and liquidation LTV (LLTV). You call Morpho directly; GetEquity supplies the oracle.

Base Sepolia only. No gNTB market exists on Base mainnet yet.

The gNTB / cNGN market (Base Sepolia)

Parameter	Value
Morpho Blue	`0xBBBBBbbBBb9cC5e90e3b3Af64bdAF62C37EEFFCb`
Market id	`0x36826669f77801235f02f4d6319487a383dd89f91efd73f55e298228c26c76a3`
`loanToken` (cNGN)	`0x7E29CF1D8b1F4c847D0f821b79dDF6E67A5c11F8`
`collateralToken` (gNTB)	`0x3efAb39D8EE258d552b404B462832738F502C1f9`
`oracle` (MorphoChainlinkOracleV2)	`0x7554feCE759eDA89A2858035DC00b5016E885C47`
`irm` (AdaptiveCurveIRM)	`0x46415998764C29aB2a25CbeA6254146D50D22687`
`lltv`	`770000000000000000` (77%)

Most Morpho calls take the parameters as a struct, not the id:

struct MarketParams {
    address loanToken;
    address collateralToken;
    address oracle;
    address irm;
    uint256 lltv;
}

Read them back from chain rather than hard-coding them: Morpho.idToMarketParams(0x3682…76a3).

Borrowing

Approve Morpho for the token first (approve(0xBBBB…EFFCb, amount) on gNTB to post collateral, on cNGN to repay). Amounts are in token base units: on Base Sepolia gNTB has 18 decimals and cNGN 6. Read decimals() on each token rather than assuming.

Post collateral

morpho.supplyCollateral(params, assets, onBehalf, "");

onBehalf is the wallet that will own the position, normally your own.

Borrow cNGN

morpho.borrow(params, assets, 0, onBehalf, receiver);

Pass the amount as assets and 0 shares. Reverts if the position would exceed the 77% LLTV, or if the market has less idle cNGN than you ask for.

Repay

// a fixed amount
morpho.repay(params, assets, 0, onBehalf, "");
// everything, with no dust left by interest accrued since you read the debt
morpho.repay(params, 0, position.borrowShares, onBehalf, "");

For a full repay, approve a little more than the debt (for example +0.1%); Morpho pulls only what is owed.

Withdraw collateral

morpho.withdrawCollateral(params, assets, onBehalf, receiver);

Reverts if what remains would leave the loan above the LLTV.

Lending

morpho.supply(params, assets, 0, onBehalf, "");     // after approving cNGN
morpho.withdraw(params, assets, 0, onBehalf, receiver);
morpho.withdraw(params, 0, position.supplyShares, onBehalf, receiver); // everything

You can withdraw only cNGN that is not lent out: totalSupplyAssets − totalBorrowAssets.

Reading a position

(uint256 supplyShares, uint128 borrowShares, uint128 collateral) = morpho.position(id, user);
(uint128 totalSupplyAssets, uint128 totalSupplyShares,
 uint128 totalBorrowAssets, uint128 totalBorrowShares, uint128 lastUpdate, uint128 fee) = morpho.market(id);
uint256 price = IOracle(oracle).price(); // loan-token units per collateral unit, scaled by 1e36

Debt (assets) = borrowShares × totalBorrowAssets ÷ totalBorrowShares, rounded up.
Collateral value in cNGN = collateral × price ÷ 1e36.
Health = collateral value × 0.77 ÷ debt.

market() totals are as of lastUpdate; to include interest since then, use Morpho’s MorphoBalancesLib (or accrue with the IRM’s borrowRateView).

The oracle

Market.currentPriceScaled(gNTB)   GetEquity's accrued price, live to the second
        │
RWAPriceOracle  0x31FCfAcd4f1A376606f2AF7297E1e573cf15d191
        │   Chainlink-style latestRoundData(), 18 decimals, priced in the payment token
MorphoChainlinkOracleV2  0x7554feCE759eDA89A2858035DC00b5016E885C47
        │   price() in Morpho's 1e36 scale
Morpho Blue

RWAPriceOracle reverts with NoPrice instead of returning 0, including when the asset’s payment token has changed. While it reverts, Morpho cannot price the collateral, so borrows, withdrawals and liquidations revert too; repaying and supplying still work.

Liquidation

When health ≤ 1.0, anyone may call:

morpho.liquidate(params, borrower, seizedAssets, repaidShares, "");

The liquidator repays debt and seizes collateral worth the repaid amount × the liquidation incentive factor: about 1.074 at a 77% LLTV. Morpho allows liquidating the whole position; GetEquity’s own liquidator repays only enough to restore health.

Events to index

From Morpho Blue: SupplyCollateral, Borrow, Repay, WithdrawCollateral, Supply, Withdraw, Liquidate, each keyed by market id. See Morpho’s contract reference for the full signatures.

On-Chain

Credit

Market Making

Ethereum (Base)

Solana

Reference

Credit on Base (Morpho Blue)

The gNTB / cNGN market (Base Sepolia)

Borrowing

Lending

Reading a position

The oracle

Liquidation

Events to index

​The gNTB / cNGN market (Base Sepolia)

​Borrowing

​Lending

​Reading a position

​The oracle

​Liquidation

​Events to index

The gNTB / cNGN market (Base Sepolia)

Borrowing

Lending

Reading a position

The oracle

Liquidation

Events to index