Earn yield on cbBTC via Steakhouse Morpho vault
Depositors are exposed to BTC price movement, Coinbase-wrapped cbBTC issuer and bridge risk, Morpho lending markets, and broader collateral selection.
Yield comes from cbBTC borrowers paying interest in Steakhouse-curated Morpho markets, with incentive APR possible when active.
Live APY: -- - Source: Yield unavailable - As of: No live APY timestamp
Morpho vault withdrawals can be immediate when liquidity exists, but cbBTC market depth and vault allocation can constrain exits.
The app execution config uses the standard vault path, while depositor-facing copy should explain cbBTC and Morpho liquidity constraints.
Main risks are BTC price exposure, cbBTC issuer and bridge exposure, broader collateral risk, market liquidity, oracle risk, incentive volatility, and smart contract risk.
Allocrypt routes deposits into the Steakhouse cbBTC vault through PortfolioRouter and forwards the net vault shares to the user's Safe.
The user's Safe holds the Steakhouse cbBTC 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.
Reviewed 2026-05-16 - Confidence: medium - Reviewed May 2026
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