cmETH on Morphobeat: Lending, Looping, and Stacking Yield

cmETH is now supercharging one of the most capital-efficient looping strategies on HyperEVM via Morphobeat. This integration unlocks deep onchain liquidity, lets users earn ETH-native yield, tap into one of the highest uETH borrowing rates in the market, and stack Powder rewards under Season 3: Methamorphosis.

In this guide, we’ll walk you through everything you need to know, from understanding Morphobeat’s core primitives to making your first cmETH deposit.

What is Morphobeat?

Morphobeat is a composable on-chain yield platform on HyperEVM, offering two powerful primitives built to replace centralized finance:

Lending Markets
- A fully onchain lending alternative powered by Hyperunit on Hyperliquid. Each market pairs one collateral asset with one loan asset in an isolated structure. This keeps risks contained and ensures predictable behavior for borrowers and lenders.
Vaults
- Non-custodial and risk-optimized vaults that let users deposit a single asset (such as HYPE or USDT0) and automatically earn yield by spreading funds across multiple lending markets.

What’s New: cmETH/uETH Market

A new cmETH/uETH market is now live on Morphobeat.

Supply cmETH and borrow uETH
Up to 91.5% Loan-to-Value (LTV)
One of the most competitive ETH-native yields on the market

Whether you are looping to boost capital efficiency or stacking Powder points, this market positions cmETH as one of the most versatile assets on HyperEVM.

Step 1: Access Morphobeat

Visit the official Morphobeat App and connect your wallet. Make sure you're connected to the HyperEVM network to access all features.

Step 2: Find the cmETH/uETH Market

Once inside, navigate to the "Borrow" section. Look for the cmETH/uETH pair positioned on the top and click on it. This is where you'll deposit cmETH as collateral.

Step 3: Enter Your Deposit Amount

For beginners, in order to benefit from the new cmETH/uETH market, you only need to deposit cmETH to start earning ETH native yield and Powder boosts.

For more advanced users, you can borrow uETH against your cmETH to enable looping strategies or deploy capital elsewhere. Just remember to maintain a Health Ratio of about 1.0 to stay safely collateralized.

Step 4: Approve Collateral

Now that you've supplied your cmETH as collateral, keep up to date with your rewards utilizing HyperFolio API. This keeps a live-time record of your positions across the HyperEVM ecosystem.