crypto.loans

MakerDAO (Sky) USDCloan: rates, LTV & how to borrow

Can I borrow against USDC on MakerDAO (Sky)?
Yes — you can borrow against USD Coin (USDC) on MakerDAO (Sky) at 5–9% APR with up to 80% LTV, on a self-custody basis with no KYC.
Borrow on MakerDAO (Sky)

MakerDAO (Sky) accepts USD Coin (USDC) as loan collateral through its on-chain markets. USDC is a regulated stablecoin pegged to the US dollar, commonly borrowed against crypto collateral. On MakerDAO (Sky) you can borrow USDS, DAI against your USDC at 5–9% APR, up to a maximum loan-to-value of 80%, on a self-custody basis.

Because MakerDAO (Sky) is a non-custodial protocol, borrowing against USDC happens entirely in your own wallet: you supply USDC to the relevant market and draw your loan in the same transaction, with no account, KYC, or approval queue. Your USDC stays in audited smart contracts that only you can withdraw from, subject to the protocol's liquidation rules.

Posting USDC — a dollar-pegged stablecoin — as collateral means liquidation pressure is minimal in normal conditions, since the collateral holds its value. MakerDAO (Sky)'s 5–9% borrow APR is the cost to watch; the main tail risk is a stablecoin depeg rather than ordinary volatility.

How to borrow against USDC on MakerDAO (Sky)

  1. 1Connect a self-custodial wallet (such as MetaMask or a hardware wallet) to MakerDAO (Sky).
  2. 2Supply your USD Coin (USDC) as collateral to the relevant market.
  3. 3Borrow USDS, DAI against it, up to 80% loan-to-value — funds arrive in your wallet in the same transaction.
  4. 4Repay any time; interest accrues continuously. Keep your health factor safe so a drop in USDC does not trigger liquidation.

How MakerDAO (Sky) compares for USDC

8 platforms in our index accept USDC as collateral. On borrow rate, MakerDAO (Sky) ranks 5th of 8, behind Nexo's 1.9–18.9%. The table below puts MakerDAO (Sky) next to its closest USDC alternatives so you can weigh rate against custody and LTV.

NexoCeFi
Borrow APR
1.9–18.9%
Max LTV
50%
KYC
Required
Custody
Third-party
Apply
CompoundDeFi
Borrow APR
2.7–6%
Max LTV
83%
KYC
No KYC
Custody
Self-custody
Apply
AaveDeFi
Borrow APR
4–8%
Max LTV
80%
KYC
No KYC
Custody
Self-custody
Apply
MakerDAO (Sky)DeFi
Borrow APR
5–9%
Max LTV
80%
KYC
No KYC
Custody
Self-custody
Apply

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Frequently asked questions

Can I borrow against USDC on MakerDAO (Sky)?
Yes. MakerDAO (Sky) accepts USD Coin (USDC) as collateral, letting you borrow USDS, DAI against it at 5–9% APR, up to 80% loan-to-value.
What is the interest rate for a MakerDAO (Sky) USDC loan?
MakerDAO (Sky)'s borrow APR is 5–9%. As a DeFi protocol, the exact rate is set algorithmically by market utilization and changes over time.
Does borrowing against USDC on MakerDAO (Sky) require KYC?
No. MakerDAO (Sky) lets you borrow against USDC without identity verification.
What happens if my USDC collateral drops in value?
If your USDC falls far enough that your loan-to-value crosses MakerDAO (Sky)'s liquidation threshold, part of your collateral can be sold to repay the loan. Keep a buffer below the 80% maximum LTV to reduce that risk.

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