Steakhouse USDGV2⚠ Deposit disabled
A Morpho V2 vault on Robinhood Chain that lends out USDG deposits, curated by Steakhouse Financial. Depositors earn 3.63% a year right now after a 0% performance fee.
Data from Morpho's API · updated
Net APY
3.63%
after fees, paid to depositors
30-day APY
3.80%
7-day 3.91%
Deposits
$510.1M
510.07M USDG
Withdrawable now
$39.47M
8% of deposits
Performance fee
0%
of the interest earned
Depositors
66,649
largest holds 2.7%
Warnings from Morpho
- Deposit disabled
Morpho's app flags these. Check the bad debt page and the markets below before depositing.
Steakhouse USDG 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 |
|---|---|---|
| USDe / USDGLLTV 91.5% | $337.4M | 66.2% |
| syrupUSDG / USDGLLTV 91.5% | $127.3M | 25.0% |
| mGLO / USDGLLTV 91.5% | $31.46M | 6.2% |
| spUSDG / USDGLLTV 91.5% | $13.17M | 2.6% |
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
| USDe | 66.2% |
|---|---|
| syrupUSDG | 25.0% |
| mGLO | 6.2% |
| spUSDG | 2.6% |
| Other | 0.0% |
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 3.80% |
|---|---|
| Last 7 days | 3.91% |
| Last 30 days | 3.80% |
| Since the vault started | 2.50% |
Who controls this vault
| Curator | Steakhouse Financial |
|---|---|
| Owner | 0xCa50…db73 |
| Timelock to raise a cap | 7 dayswait before more can go into a market |
| Timelock to add an adapter | 7 dayswait before a new kind of investment |
| Timelock to raise fees | None |
| Allocators | 8addresses that move money between markets |
| Sentinels | 1can pull money back or cut caps in an emergency |
| Created | May 29, 2026 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDGprice $1.0000 |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 3.63% |
| Vault contract | 0xBeEf…09dd |
| USDG token | 0x5fc5…d168 |
| Network | Robinhood Chain |
The curator's description: "Steakhouse USDG vault aims to optimize yields by lending USDG against a wide range of collaterals."
Largest depositors
66,649 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x0482…5d66 | $13.90M | 2.7% |
| 0x32Ba…21f1 | $9.60M | 1.9% |
| 0x822A…8FF5 | $6.80M | 1.3% |
| 0xfFdA…Bd21 | $6.10M | 1.2% |
| 0xf705…b10e | $5.12M | 1.0% |
| 0x66A9…3daA | $4.63M | 0.9% |
| 0x4a73…0d49 | $4.53M | 0.9% |
| 0xcEC4…Cd1b | $3.96M | 0.8% |
| 0xA8a5…4E6a | $3.82M | 0.7% |
| 0x5551…F515 | $3.25M | 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 USDG
Steakhouse USDG is a Morpho V2 vault on Robinhood Chain, created on May 29, 2026. It takes USDG deposits and lends them to borrowers in 4 Morpho markets. The curator, Steakhouse Financial, decides which markets it may use and how much can go into each.
It holds $510.1M (510.07M USDG) from 66,649 depositors and pays a net APY of 3.63% after its 0% performance fee. Over the last 30 days depositors actually earned 3.80% a year.
Its largest position is USDe / USDG at 66% of what it lends, followed by syrupUSDG / USDG (25%) and mGLO / USDG (6%). Counting every market, its loans are backed mainly by USDe (66%), syrupUSDG (25%) and mGLO (6%). 8% of deposits could be withdrawn right now.
Risky changes, such as adding a market, wait behind a 7-day timelock on raising caps, which gives depositors time to leave first. Morpho's app shows a warning for this vault: deposit disabled.
Steakhouse USDG: quick answers
What is the APY of Steakhouse USDG on Robinhood Chain?
Steakhouse USDG pays 3.63% net APY right now, after its fees. Measured from the growth of its share price, it paid 3.80% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Steakhouse USDG lend against?
It lends USDG through 4 Morpho markets. The biggest is USDe / USDG with 66% of its lending. Overall its loans are backed mainly by USDe (66%), syrupUSDG (25%) and mGLO (6%).
Can I withdraw from Steakhouse USDG right now?
About $39.47M of its $510.1M in deposits (8%) 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 USDG and what does it charge?
Steakhouse Financial curates it. It keeps 0% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Steakhouse USDG?
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 on raising caps. Morpho's app flags: deposit disabled. This is not advice.
