Steakhouse USDC
Earn curated USDC yield through Steakhouse Morpho on Ethereum
Not a fit if
- Exit liquidity may be limited
- Includes issuer or bridge exposure
- Depends on curator or governance decisions
Asset exposure
Depositors are exposed to USDC, Morpho lending markets, Steakhouse curation, collateral and borrower behavior, and vault share liquidity.
Yield source
Yield comes from USDC borrowers paying interest in Morpho markets selected and managed by Steakhouse.
Live APY: -- - Source: Yield unavailable - As of: No live APY timestamp
Withdrawal reality
Steakhouse USDC uses an ERC-4626-style path, but full immediate exit depends on idle vault liquidity and underlying Morpho market liquidity.
- Redeem or withdraw vault shares through the ERC-4626-style path.
- If idle liquidity is insufficient, exit timing depends on the vault's withdraw queue and underlying market liquidity.
Primary risks
Main risks are USDC issuer exposure, borrower and collateral default, oracle risk, curator decisions, market illiquidity, and smart contract risk.
Allocrypt role
Allocrypt routes deposits into Steakhouse USDC through the Ethereum PortfolioRouter and forwards the net vault shares to the user's Safe.
The user's Safe holds Steakhouse USDC vault shares directly after deposit.
Only the user controls the signing keys for the Safe.
PortfolioRouter takes a 0.49% fee in vault shares after the external vault deposit and sends it to the treasury.
Sources and freshness
Reviewed 2026-05-16 - Confidence: medium - Reviewed May 2026
- Allocrypt reviewed research
- Morpho vault documentation
- Steakhouse Financial vault documentation
- vaults.fyi vault data
Ethereum vault actions use portfolio flows. Deposits target the Ethereum smart wallet; withdrawals start from the Ethereum smart wallet.
Vault Info
Protocol