APY move
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Steakhouse Prime USDT
steakUSDT
EthereumOn peg4V2
Plain English explanationWritten by vaults.xyz research · model card · last update 2026-05-12
What this vault actually does
The Steakhouse Prime Instant USDT vault aims to optimize yields by lending USDT against blue chip crypto and real world asset RWA collateral markets depending on market conditions.
Where the yield comes from
Morpho V2 vault — wraps downstream Morpho markets and V1 vaults via adapters.
Why they may not
V2 risk model is not yet specialized in VaultScope — this row reports baseline defaults until V2-aware scoring is built.
Hidden exposure map
What this vault is actually exposed to — including dependencies that are not visible from the strategy name.
USDT
100%
StablecoinLoan 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.
Markets0+ idle buffer
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.
USDT reserve / depeg
possible
computedTether has repeatedly traded <$0.95 (Oct 2018, May 2022). Recovery is slower than USDC. Mark-to-market loss on 100% of vault TVL (the loan asset is USDT).
−5% × 100% exposed × 100% pass-through (loan-asset shock)
-5.0%
Recovery 14–30 days
100% exposed
V2 adapter routing failure
rare
computedV2 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
Activity
Curator and parameter changes detected by VaultScope's snapshot diff. Refreshed every 6 hours.
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% – 17.76%
trailing 180d
APY volatility (σ)2.15 pts
standard deviation
Max APY drawdown-100.0%
peak-to-trough
APY trend-2.37 pts
180d delta