Steakhouse Prime AUSD

AUSD·Katana·curated by Steakhouse Financial

APY7.18%+6.51% vs 30d

TVL$540.37K

Risk score47/ 100

Worse than a plain vault

100% of this vault sits in higher-risk collateral, yet it earns 7.18% on AUSD versus 9.35% for a plain AUSD vault (-217 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 Prime AUSD vault aims to optimize yields by lending AUSD against blue chip crypto assets.

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.

Cap-weighted utilization is 96.2%, leaving little idle buffer. Large same-day redemptions may queue behind active loan repayments.

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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