Steakhouse High Yield USDC

USDC·Arbitrum·curated by Steakhouse Financial

APY3.55%+0.25% vs 30d

TVL$2.65M

Risk score40/ 100

Same yield, exotic risk

100% of this vault sits in higher-risk collateral, yet it earns 3.95% on USDC versus 4.27% for a plain USDC vault (-32 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.

Weighted LLTV across markets is 91.5%. Sharp collateral drawdowns can trigger cascading liquidations faster than vault parameters can be adjusted.

Primary loan or collateral asset is a stablecoin. A sustained depeg below 99 cents impacts NAV and disables liquidation routing for non-USD collateral.

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