Steakhouse Prime USDC
A Morpho vault on Katana that lends out vbUSDC deposits, curated by Steakhouse Financial. Depositors earn 1.98% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
1.98%
after fees, paid to depositors
30-day APY
3.09%
7-day 1.82%
Deposits
$3.35M
3.35M vbUSDC
Withdrawable now
$1.69M
50% of deposits
Performance fee
10%
of the interest earned
Depositors
3,268
largest holds 39.2%
Steakhouse Prime USDC APY history
Net APY earned each day, measured from the vault's share price
| Day | Deposits | Net APY |
|---|
Deposits over time
Where the money goes
The markets this vault lends to right now, largest first
| Market | Lent | Share |
|---|---|---|
| vbWBTC / vbUSDCLLTV 86% | $3.31M | 98.6% |
| vbETH / vbUSDCLLTV 86% | $48.4K | 1.4% |
| weETH / vbUSDCLLTV 77% | $0 | 0.0% |
| Idle cashnot lent out | $0 | 0.0% |
| BTC.b / vbUSDCLLTV 77% · not listed in the Morpho app | $0 | 0.0% |
The curator decides which markets the vault may use and how much it may put in each (the cap). Allocators then move money between those markets within the caps. How vaults work.
What the loans are backed by
Share of this vault's lending by the collateral borrowers put up
| vbWBTC | 98.6% |
|---|---|
| vbETH | 1.4% |
| weETH | 0.0% |
| Other | 0.0% |
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 1.99% |
|---|---|
| Last 7 days | 1.82% |
| Last 30 days | 3.09% |
| Last year | 1.82% |
| Since the vault started | 1.55% |
Who controls this vault
| Curator | Steakhouse Financial |
|---|---|
| Owner | 0x0A0e…f8DD5-of-8 multisig |
| Guardian | 0xf4F2…C04E |
| Timelock | 7 dayswait before risky changes take effect |
| Allocators | 7addresses that move money between markets |
| Created | June 23, 2025 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | vbUSDCprice $0.9999 |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 2.20% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0x61D4…3c1d |
| vbUSDC token | 0x203A…FD36 |
| Network | Katana |
The curator's description: "The Steakhouse Prime USDC vault aims to optimize yields by lending USDC against blue chip crypto assets."
Largest depositors
3,268 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x0298…1baa | $1.31M | 39.2% |
| 0x3fdA…07b4 | $1.01M | 30.1% |
| 0x4194…6157 | $406K | 12.1% |
| 0xf548…7A70 | $201K | 6.0% |
| 0x5EbD…E065 | $102K | 3.0% |
| 0x9f01…e59b | $101K | 3.0% |
| 0xA204…B869 | $40.6K | 1.2% |
| 0x497d…333b | $39.4K | 1.2% |
| 0x255c…085a | $28.4K | 0.8% |
| 0x7e82…4463 | $18.8K | 0.6% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Steakhouse Prime USDC
Steakhouse Prime USDC is a MetaMorpho vault (Morpho V1) on Katana, created on June 23, 2025. It takes vbUSDC deposits and lends them to borrowers in 2 Morpho markets. The curator, Steakhouse Financial, decides which markets it may use and how much can go into each.
It holds $3.35M (3.35M vbUSDC) from 3,268 depositors and pays a net APY of 1.98% after its 10% performance fee. Over the last 30 days depositors actually earned 3.09% a year, and 1.82% over the last year.
Its largest position is vbWBTC / vbUSDC at 99% of what it lends, followed by vbETH / vbUSDC (1%). Counting every market, its loans are backed mainly by vbWBTC (99%) and vbETH (1%). 50% of deposits could be withdrawn right now.
Risky changes, such as adding a market, wait behind a 7-day timelock, which gives depositors time to leave first. The owner is a 5-of-8 multisig wallet. Morpho's app shows no warnings for this vault.
Steakhouse Prime USDC: quick answers
What is the APY of Steakhouse Prime USDC on Katana?
Steakhouse Prime USDC pays 1.98% net APY right now, after its fees. Measured from the growth of its share price, it paid 3.09% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Steakhouse Prime USDC lend against?
It lends vbUSDC through 2 Morpho markets. The biggest is vbWBTC / vbUSDC with 99% of its lending. Overall its loans are backed mainly by vbWBTC (99%) and vbETH (1%).
Can I withdraw from Steakhouse Prime USDC right now?
About $1.69M of its $3.35M in deposits (50%) could be withdrawn immediately. The rest is lent out and frees up as borrowers repay or as higher rates bring in new lenders.
Who runs Steakhouse Prime USDC and what does it charge?
Steakhouse Financial curates it. It keeps 10% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Steakhouse Prime USDC?
Like every Morpho vault, it can lose money if a borrower's collateral crashes faster than it can be liquidated, if a price oracle fails, or through a smart contract bug. Withdrawals can wait when its markets are fully borrowed. Changes to it wait behind a 7-day timelock. This is not advice.
Other vbUSDC vaults
The same deposit asset, other curators and networks
| Vault | Net APY |
|---|---|
| Yearn OG USDCV2Yearn · Katana · $3.39M | 3.29%incl. 0.97% rewards |
| Steakhouse High Yield USDCV2Steakhouse Financial · Katana · $1.69M | 6.48%incl. 4.48% rewards |
| Steakhouse Prime USDCV2Steakhouse Financial · Katana · $1.50M | 2.56%incl. 0.63% rewards |
| Yearn Degen USDCV2Yearn · Katana · $1.40M | 3.14%incl. 1.72% rewards |
| Clearstar Core USDCV2Clearstar · Katana · $523K | 4.42%incl. 3.09% rewards |