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0xbEeF…FCb13D
A

Steakhouse High Yield Instant

bbqAUSD
Ethereum
Curated by Steakhouse Financial·Inception 2025-12-16T08:26:47.000Z·Guardian —
V2
Open on Morpho
Net APY3.48%
-10.32%30d 13.80%
Trend down
TVL$1.1M
+0.01%Capacity $0
Trend down
Utilization0%
Underutilized
Risk score
27
Moderate
Market 28
·Loan demand 50
Complexity35Standard strategy
Liquidity60/100
Instant redemption available
Performance fee0%No curator cut
Morpho official alerts
1 caution alert from Morpho's risk team
  • Unrecognized Collateral AssetYELLOWPT-srUSDe-25JUN2026 / AUSD

    Morpho has flagged the PT-srUSDe-25JUN2026 / AUSD market: unrecognized_collateral_asset.

Risk decomposition

How the composite risk score breaks down. Every number traces to an explicit input — /methodology documents each factor's formula.

mainstream27/100
Warning floorfloor
0—
Structuralweight 28%
35+9.8
Liquidationweight 20%
30+6.0
Yield anomalyweight 20%
0+0.0
Concentrationweight 12%
50+6.0
Liquidityweight 10%
0+0.0
Maturityweight 10%
55+5.5
Depeg floorfloor
0—
Composite = max(Σ weighted + floors). Warning and depeg floors are hard minimums; the weighted sum of the structural factors is the base. A floor highlighted in amber means it is what determines the final score — the protocol or peg signals are louder than our structural model.
Plain English explanationWritten by VaultScanner research · model card · last update 2026-05-12
What this vault actually does

The Steakhouse High Yield Instant AUSD vault aims to optimize yields by lending AUSD against a wide range of collaterals.

Where the yield comes from

Morpho V2 vault — wraps downstream Morpho markets and V1 vaults via adapters.

Why they may not

Some V2 adapters point at Morpho Blue markets directly; their underlying market detail isn't resolvable in the universe-level fetch, so this vault carries a V2 opacity surcharge in the risk model.

Hidden exposure map

What this vault is actually exposed to — including dependencies that are not visible from the strategy name.

AUSD
100%
Lending venueLoan asset supplied by the vault.
Reading this map. Direct exposures are the assets the vault holds or lends against. Indirect dependencies (Tab 3) include the protocols that mint those assets, the oracles pricing them, and the bridges that move them. An incident at any indirect dependency can damage the vault even when the direct collateral looks healthy.
Allocation breakdown

Every market the vault has supplied into, with current LTV, LLTV, oracle, and IRM. Idle balances are listed explicitly.

Markets16+ idle buffer
syrupUSDC / AUSD54.0%
PT-USDG-28MAY2026 / AUSD43.3%
stcUSD / AUSD1.7%
PT-cUSD-23JUL2026 / AUSD0.9%
WBTC / AUSD0.1%
AA_FalconXUSDC / AUSD0.0%
wstETH / AUSD0.0%
wsrUSD / AUSD0.0%
cbBTC / AUSD0.0%
PT-reUSD-25JUN2026 / AUSD0.0%
PT-stcUSD-23JUL2026 / AUSD0.0%
sUSDe / AUSD0.0%
reUSD / AUSD0.0%
PT-srUSDe-25JUN2026 / AUSD0.0%
WETH / AUSD0.0%
weETH / AUSD0.0%
MarketProtocolAllocationLTV / LLTVUtilizationOracleIRM
PT-USDG-28MAY2026 / AUSDMorpho Blue (via V2 adapter)
43.3%$475.5K
80% / 94.5%14.2 pts headroom
88%——
cbBTC / AUSDMorpho Blue (via V2 adapter)
0.0%$0.45
73% / 86.0%12.9 pts headroom
92%——
WETH / AUSDMorpho Blue (via V2 adapter)
0.0%$0.01
73% / 86.0%12.9 pts headroom
92%——
PT-reUSD-25JUN2026 / AUSDMorpho Blue (via V2 adapter)
0.0%$0.14
78% / 91.5%13.7 pts headroom
80%——
reUSD / AUSDMorpho Blue (via V2 adapter)
0.0%$0.08
78% / 91.5%13.7 pts headroom
85%——
AA_FalconXUSDC / AUSDMorpho Blue (via V2 adapter)
0.0%$111.89
65% / 77.0%11.6 pts headroom
90%——
syrupUSDC / AUSDMorpho Blue (via V2 adapter)
54.0%$593.51K
78% / 91.5%13.7 pts headroom
88%——
PT-cUSD-23JUL2026 / AUSDMorpho Blue (via V2 adapter)
0.9%$10.06K
78% / 91.5%13.7 pts headroom
89%——
sUSDe / AUSDMorpho Blue (via V2 adapter)
0.0%$0.1
78% / 91.5%13.7 pts headroom
60%——
PT-srUSDe-25JUN2026 / AUSDMorpho Blue (via V2 adapter)
0.0%$0.07
78% / 91.5%13.7 pts headroom
85%——
stcUSD / AUSDMorpho Blue (via V2 adapter)
1.7%$18.35K
78% / 91.5%13.7 pts headroom
88%——
wstETH / AUSDMorpho Blue (via V2 adapter)
0.0%$9.32
73% / 86.0%12.9 pts headroom
92%——
wsrUSD / AUSDMorpho Blue (via V2 adapter)
0.0%$3.83
78% / 91.5%13.7 pts headroom
90%——
PT-stcUSD-23JUL2026 / AUSDMorpho Blue (via V2 adapter)
0.0%$0.11
78% / 91.5%13.7 pts headroom
90%——
WBTC / AUSDMorpho Blue (via V2 adapter)
0.1%$673.98
73% / 86.0%12.9 pts headroom
91%——
weETH / AUSDMorpho Blue (via V2 adapter)
0.0%$0.01
73% / 86.0%12.9 pts headroom
92%——
Stress scenarios

Modeled NAV impact under historical and hypothetical tail events. Each impact = − (shock magnitude) × (vault exposure) × (pass-through). Hover the calculator icon for the per-scenario formula.

V2 adapter routing failure
rare
computed

V2 vaults route through adapters into downstream venues. A misbehaving adapter (paused, drained, or pointing at a compromised target) can lock or mismark a portion of the vault until governance acts.

−4% × 100% (adapter-stack-wide assumption; refined when per-adapter shares are available)
-4.0%
Recovery operational
100% exposed
$50M same-day redemption
possible
computed

Vault has $1M idle buffer (100% of $1M TVL). $49M of the $50M request queues; the redeemer takes a ~0.50% forced-exit discount weighted across collateral mix plus 0-day TVM cost. $49M of the request exceeds the vault's $1M TVL and cannot be redeemed at all.

queued 98% of $50M × (0.50% forced-exit discount + 0.00% TVM over 0.0 days at 5.0% rate)
-0.5%
Recovery 0–14 days (queue depth)
98% exposed
Governance & configuration

On-chain contracts, control surface, and per-market parameters. The diligence checklist surface — every value here is what an allocator needs to copy into a memo before sizing a deposit.

Vault contractMetaMorpho v1 on Morpho Blue
0xbEeF…b13D
Chain
Ethereum
CuratorRisk team setting market allocations
Steakhouse Financial
OwnerCan change curator, guardian, and timelock (after delay)
—
GuardianCan pause and revoke allocations if compromised
not configured
TimelockDelay before owner-initiated parameter changes take effect
none
Performance feeCurator's cut of generated yield
0.00%
Fee recipientAddress that collects the performance fee
not configured
Skim recipientReceives stray non-loan-asset tokens swept from the vault
not configured
Deployed5 mos on-chain
Dec 16, 2025
One-click redeem
available
Morpho app
open

Market parameters (16)

Oracle, IRM, and LLTV per Morpho Blue market the vault routes into. Click an address to inspect the contract on a block explorer.
MarketLLTVUtilOracleIRM
PT-USDG-28MAY2026 / AUSD94.5%88%——
cbBTC / AUSD86.0%92%——
WETH / AUSD86.0%92%——
PT-reUSD-25JUN2026 / AUSD91.5%80%——
reUSD / AUSD91.5%85%——
AA_FalconXUSDC / AUSD77.0%90%——
syrupUSDC / AUSD91.5%88%——
PT-cUSD-23JUL2026 / AUSD91.5%89%——
sUSDe / AUSD91.5%60%——
PT-srUSDe-25JUN2026 / AUSD91.5%85%——
stcUSD / AUSD91.5%88%——
wstETH / AUSD86.0%92%——
wsrUSD / AUSD91.5%90%——
PT-stcUSD-23JUL2026 / AUSD91.5%90%——
WBTC / AUSD86.0%91%——
weETH / AUSD86.0%92%——
Activity

Curator and parameter changes detected by VaultScanner's snapshot diff. Refreshed every 6 hours.

Full feed →
Historical analytics

180 trailing days. APY, TVL, utilization, and an APY drawdown view to show how the vault has actually behaved — not just where it sits today.

APY range0.00% – 20.26%
trailing 180d
APY volatility (σ)3.33 pts
standard deviation
Max APY drawdownNaN%
peak-to-trough
APY trend+0.00 pts
180d delta