Steakhouse USDG on Robinhood Chain
V2⚠ Deposits switched offA Morpho V2 vault on Robinhood Chain that lends out USDG deposits, curated by Steakhouse Financial. Depositors earn 4.63% a year right now after a 0% performance fee.
Data from Morpho's API · updated
Net APY
4.63%
after fees, paid to depositors
30-day APY
4.07%
7-day 4.14%, from the share price
Deposits
$528.0M
528.10M USDG
Withdrawable now
$50.88M
10% of deposits
Performance fee
0%
of the interest earned
Depositors
76,864
largest holds 3.3%
Warnings from Morpho
- Deposits switched off
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, from the vault's share price: after fees, without token rewards
| 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% | $357.1M | 66.0% |
| syrupUSDG / USDGLLTV 91.5% | $121.8M | 22.5% |
| mGLO / USDGLLTV 91.5% | $44.96M | 8.3% |
| spUSDG / USDGLLTV 91.5% | $12.21M | 2.3% |
| SPY / USDGLLTV 77% | $2.4K | <0.01% |
| GOOGL / USDGLLTV 77% | $152 | <0.01% |
| WETH / USDGLLTV 86% · under $1,000, not tracked here | $2.00 | <0.01% |
| TSLA / USDGLLTV 62.5% · under $1,000, not tracked here | $2.00 | <0.01% |
| AAPL / USDGLLTV 62.5% · under $1,000, not tracked here | $2.00 | <0.01% |
| SPCX / USDGLLTV 62.5% | $2.00 | <0.01% |
| Idle cashnot lent out | $4.85M | 0.9% |
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 | 69.4% |
|---|---|
| syrupUSDG | 18.2% |
| mGLO | 10.9% |
| spUSDG | 1.5% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 4.02% |
|---|---|
| Last 7 days | 4.14% |
| Last 30 days | 4.07% |
| Last 90 days | 3.66% |
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 | 10addresses that move money between markets |
| Sentinels | 2can pull money back or cut caps in an emergency |
| Pending changes | 4IncreaseAbsoluteCap from October 30, 2026; IncreaseAbsoluteCap from October 30, 2026; IncreaseRelativeCap from October 30, 2026 |
| 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 | 4.63% |
| 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
76,864 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x0482…5d66 | $17.55M | 3.3% |
| 0x822A…8FF5 | $8.93M | 1.7% |
| 0xfFdA…Bd21 | $6.12M | 1.2% |
| 0x32Ba…21f1 | $5.39M | 1.0% |
| 0xf705…b10e | $5.13M | 1.0% |
| 0x6082…24f0 | $5.03M | 1.0% |
| 0x66A9…3daA | $4.65M | 0.9% |
| 0x4a73…0d49 | $4.58M | 0.9% |
| 0xA8a5…4E6a | $4.48M | 0.8% |
| 0xA4D2…cec0 | $4.00M | 0.8% |
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 10 Morpho markets. The curator, Steakhouse Financial, decides which markets it may use and how much can go into each.
It holds $528.0M (528.10M USDG) from 76,864 depositors and pays a net APY of 4.63% after its 0% performance fee. Over the last 30 days depositors actually earned 4.07% a year.
Its largest position is USDe / USDG at 66% of its deposits, followed by syrupUSDG / USDG (23%) and mGLO / USDG (8%). Counting every market, its loans are backed mainly by USDe (69%), syrupUSDG (18%) and mGLO (11%). 10% of deposits could be withdrawn right now.
Adding a market or raising how much can go into one waits behind a timelock of 7 days, which gives depositors time to leave first. Morpho's app shows a warning for this vault: deposits switched off.
Steakhouse USDG: quick answers
What is the APY of Steakhouse USDG on Robinhood Chain?
Steakhouse USDG pays 4.63% net APY right now, after its fees. Measured from the growth of its share price, it paid 4.07% 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 10 Morpho markets. The biggest is USDe / USDG with 66% of its deposits. Overall its loans are backed mainly by USDe (69%), syrupUSDG (18%) and mGLO (11%).
Can I withdraw from Steakhouse USDG right now?
About $50.88M of its $528.0M in deposits (10%) 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. Adding a market or raising a cap waits behind a timelock of 7 days. Morpho's app flags: deposits switched off. This is not advice.
Other USDG vaults
The same deposit asset, other curators and networks
| Vault | Net APY |
|---|---|
| Steakhouse USDG ProV2Steakhouse Financial · Arbitrum · $80.23M | 7.11%incl. 4.50% rewards |
| Gauntlet USDG PremiumV2Gauntlet · Arbitrum · $57.06M | 7.11%incl. 4.50% rewards |
| Galaxy USDG RH Stock TokensV2Galaxy Curation · Robinhood Chain · $503K | 0.50% |
| Yearn Stonk USDGV2Yearn · Robinhood Chain · $208K | 4.53% |
