Steakhouse High Yield USDC

USDC·Arbitrum·curated by Steakhouse Financial

APY2.66%-0.79% vs 30d

TVL$1.92M

Risk score42/ 100

Worse than a plain vault

85% of this vault sits in higher-risk collateral, yet it earns 2.97% on USDC versus 4.3% for a plain USDC vault (-133 bps). You're not being paid for the extra risk.

Plain English explanationWritten by Sharpe Finance research · model card · last update 2026-05-12

What this vault actually does

The Steakhouse High Yield USDC vault aims to optimize yields by lending USDC against a wide range of collaterals.

What breaks this vault

The honest version. Every structural failure mode this vault is exposed to, ranked by severity. If you want to know whether to invest, start here.

Vault has meaningful collateral exposure to liquid restaking tokens. A discount to ETH (>2%) propagates directly through liquidation cascades.

Weighted LLTV across markets is 86.5%. Sharp collateral drawdowns can trigger cascading liquidations faster than vault parameters can be adjusted.

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