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Steakhouse USDC (Base) Morpho Vault(STEAKUSDC)

Token Price$1.09

24h Change+0.015%

All Time HighFeb 7, 2025$9.22

All Time LowDec 18, 2024$0.01

Key Metrics

Market Cap$265.61m

Fully Diluted Valuation$265.69m

Circ. Supply243.24m STEAKUSDC

Volume 24h$0

CEX Volume$0

DEX Volume$0

Risks

How much debt can be issued against STEAKUSDC as collateral across lending protocols.

Maximum possible exposure to STEAKUSDC

$951,692

$116,945 (max additional borrows against STEAKUSDC) + $834,747 (bad debt if STEAKUSDC was hacked now)

Morpho V1

$951,692 at-risk exposure = $834,747 bad debt if hacked + $116,945 additional borrowable against STEAKUSDC

Methodology and limitations

Showing collateral exposure for STEAKUSDC on onchain. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.

These metrics describe lending exposure only and are not a full protocol risk rating.
This view does not include multisigs, timelocks, audits, oracle incidents, listing discussions, curator reports, or protocol backstops.
Chain-specific drilldown is exact only when the token resolves to a concrete chain:address.

Show exposure details

Each row is one protocol-chain exposure for STEAKUSDC as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.

Protocol	Chain
Morpho V1	Base	steakUSDC0xbeefe94c8ad530842bfe7d8b397938ffc1cb83b2	$99,308	$811,140
Morpho V1	Ethereum	steakUSDC0xbeef088055857739c12cd3765f20b7679def0f51	$17,637	$23,605
Morpho V1	Base	steakUSDC0xbeef010f9cb27031ad51e3333f9af9c6b1228183	$0.092	$1.07

Risk Timeline

Risk-management actions published about STEAKUSDC by tracked risk managers and governance contributors, newest first.

1 action

contributor@steakhousegov.ethenafoundation.com

1 year ago

↑Reserve Fund Diversification with steakUSDC

Proposal to allocate Ethena's Reserve Fund to the Steakhouse USDC MetaMorpho Vault on Morpho Blue to earn yield on USDC while diversifying from direct stablecoin holdings. The vault lends USDC against blue-chip collateral including wBTC, wstETH, and tokenized T-bills (bIB01), with low risk due to extensive audits, Aragon DAO governance with 7-day timelocks, no bad debt history, and algorithmic liquidity management avoiding traps.

Token Usage

An is required to view token usage.

Yields

Showing 10 of 11 pools

Pool	Project
open in new tab STEAKUSDC	Morpho Blue	$267.34m	4.73%	4.73%		4.29%
open in new tab STEAKUSDC	Morpho Blue	$260.59m	3.94%	3.72%	0.22%	3.46%
open in new tab STEAKUSDC	Morpho Blue	$204.81m	4.32%	4.32%		4.33%
open in new tab STEAKUSDC	Morpho Blue	$98.05m	3.91%	3.91%		3.75%
open in new tab STEAKUSDC	Morpho Blue	$61.84m	4.08%	4.08%		3.95%
open in new tab STEAKUSDC	Morpho Blue	$24.39m	5.57%	3.09%	2.48%	5.42%
open in new tab SAFE-STEAKUSDC	Morpho Blue	$3.7m	3.65%	3.65%		3.53%
open in new tab SAFE-STEAKUSDC	Morpho Blue	$560,507	4.42%	4.42%		3.88%
open in new tab STEAKUSDC	Morpho Blue	$156,048	4.97%	4.97%		4.62%
open in new tab STEAKUSDC	Morpho Blue	$15,001	6.22%	3.74%	2.48%	10.24%

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Overview