01 Test tokens
Sepolia-only faucets. UNI here is an ERC20Votes stand-in with the same delegate() selector as the real Uni token; USDC is a 6-decimal test token the market lends.
02 Wrap
1 UNI in, 1 gUNI out. The UNI goes into a surrogate contract that votes for your delegate. No fee, no owner, unwrap any time.
03 Delegate
One delegate per holder. Changing it moves your wallet balance and your open Morpho collateral to the new delegate's surrogate in a single UNI transfer. Morpho is never touched.
04 Borrow on Morpho Blue
Supply gUNI as collateral and borrow USDC, directly on Morpho. Your votes don't move: the wrapper mirrors your position and keeps the UNI in your delegate's surrogate.
05 Liquidate
Liquidations go through the wrapper, which verifies the borrower's position against Morpho and pays the liquidator in plain UNI. Only the borrower's delegate loses votes, and only by the seized amount. Direct morpho.liquidate on this market reverts.
All positions
Every account that has posted gUNI on this market, read from Morpho's events. Health is debt against the liquidation threshold (collateral × price × LLTV). "Liquidate" does the whole job: sizes the seizure to the debt, mints test USDC if you're short, approves the wrapper, liquidates. You receive plain UNI.
| Borrower | Collateral | Debt (USDC) | Health | Delegate | |
|---|---|---|---|---|---|
| – | |||||