Steakhouse High Yield USDT0

USDT0·Polygon·curated by Steakhouse Financial

APY5.68%+0.05% vs 30d

TVL$220.94K

Risk score36/ 100

Same yield, exotic risk

88% of this vault sits in exotic / elevated-risk collateral, yet it earns 5.68% on USDT0 versus 5.72% for a plain USDT0 vault (-4 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 USDT0 vault aims to optimize yields by lending USDT0 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.

Cap-weighted utilization is 85.8%, 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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