Steakhouse

USDT

The Steakhouse USDT vault aims to optimize yields by lending USDT against blue chip crypto and real world asset (RWA) collateral markets, depending on market conditions. We call this the “dual engine.”

Overview

Allocation

Performance

Returns

Risk

Risk Disclosures

Steakhouse (incl. Prime) Vaults are designed to minimize volatility by programmatically allocating against highly-liquid assets. While Steakhouse Vaults are focused on established markets, no strategy eliminates risk entirely: extraordinary market events or tail risks may still drive sudden price movements and volatility in the underlying Morpho markets.

We encourage participants to review our Risk Documentation for a detailed explanation of how we assess market volatility and counterparty risk, and maintain robust safeguards. Further details on vault structures can be found on our Products page. Each depositor acknowledges having read and understood our Disclaimers. All Steakhouse Vaults are curated and operated by Carniceria Tropical SA.

Ratings

Risk Curation

Activity

User Distribution

All Transactions

Market Exposure	Vault Allocation (USDT)	Liquidity (USDT)	Underlying Liquidity (USDT)	Supply Cap	APY	Utilization
USDTbacked bywstETH 86% LLTV	34.43M	33.14M	33.14M	$999.6M	2.50%	78.87%
USDTbacked byWBTC 86% LLTV	21.29M	21.29M	21.33M	$499.8M	2.49%	78.69%
USDTbacked bycbBTC 86% LLTV	10.4M	3.96M	3.96M	$99.96M	2.59%	80.32%
USDTbacked byweETH 86% LLTV	5.47M	1.17M	1.17M	$99.96M	2.55%	78.46%
USDTbacked byWBTC 86% LLTV	3.78M	1.39M	1.39M	$499.8M	2.59%	80.19%
USDTbacked bysUSDS 96.5% LLTV	3.45M	2.93M	2.93M	$499.8M	2.49%	78.98%
USDTbacked bywstETH 86% LLTV	2.01M	666.58k	666.58k	$999.6M	2.59%	80.42%
USDTbacked byXAUt 77% LLTV	1.35M	486.08k	486.08k	$9.99M	3.68%	83.96%
USDTbacked bycbBTC 86% LLTV	2303.8	2303.8	68.25k	$99.96M	2.50%	90.09%
USDTbacked byFLHYon 86% LLTV	0.01	0.01	0.17	$9.99M	2.53%	84.10%

Date	Amount	Market
2026-10-06 04:33:23	+0.786 USDT+$0.78	USDTbacked bysUSDS 96.5% LLTV
2026-10-06 04:33:23	+345,650.44 USDT+$345.51k	USDTbacked bywstETH 86% LLTV
2026-10-06 04:33:23	+180,102.9 USDT+$180.03k	USDTbacked byWBTC 86% LLTV
2026-10-06 04:33:23	+39,942.69 USDT+$39.92k	USDTbacked bycbBTC 86% LLTV
2026-10-06 04:33:23	+22,998.27 USDT+$22.98k	USDTbacked byweETH 86% LLTV

User	Deposit	% of Deposits
	71,091,185.24 USDT$71.06M	86.44%
	5,321,071.61 USDT$5.31M	6.47%
	888,299.31 USDT$887.95k	1.08%
	732,296.74 USDT$732.00k	0.89%
	637,589.48 USDT$637.33k	0.77%

Date	Type	Amount
2026-10-07 23:11:11	Vault Withdraw	10,049.09 USDT$10.04k
2026-10-07 23:10:35	Vault Withdraw	51,505.68 USDT$51.48k
2026-10-07 18:55:59	Vault Withdraw	3.176 USDT$3.17
2026-10-07 10:28:23	Vault Deposit	55,007 USDT$54.98k
2026-10-07 10:18:59	Vault Withdraw	62,087.52 USDT$62.06k
2026-10-07 08:26:23	Vault Withdraw	1,548.41 USDT$1547.80
2026-10-07 07:56:35	Vault Withdraw	9,270.16 USDT$9266.52
2026-10-07 07:00:47	Vault Withdraw	6,655 USDT$6652.39
2026-10-07 05:52:23	Vault Withdraw	41,662.27 USDT$41.64k
2026-10-07 03:10:11	Vault Withdraw	10,153.43 USDT$10.14k

User	Deposit	% of Deposits
	71,091,185.24 USDT$71.06M	86.44%
	5,321,071.61 USDT$5.31M	6.47%
	888,299.31 USDT$887.95k	1.08%
	732,296.74 USDT$732.00k	0.89%
	637,589.48 USDT$637.33k	0.77%

Overview

Allocation

Performance

Risk

Activity

Overview

Allocation

Performance

Risk

Activity

SteakhouseUSDT

Overview

Allocation

Performance

Risk

Activity

SteakhouseUSDT