Waterline infiniFi USDC
100% of this vault sits in higher-risk collateral, yet it earns 3.88% on USDC versus 4.3% for a plain USDC vault (-42 bps). You're not being paid for the extra risk.
The Steakhouse infiniFi USDC vault aims to optimize yield on USDC lending against a wide range of collateral assets from the infiniFi ecosystem.
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.