Steakhouse High Yield USDC

USDC·Base·curated by Steakhouse Financial

APY2.99%-0.35% vs 30d

TVL$58.45K

Risk score33/ 100

Same yield, exotic risk

100% of this vault sits in exotic / elevated-risk collateral, yet it earns 4.01% on USDC versus 3.98% for a plain USDC vault (+3 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 for yield on 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.

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

Vault is split across 10 markets. More markets means more parameter surface area for the curator to monitor.

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