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Steakhouse Prime USDC

Risk reportBase0xbeef…83b2

Risk

Depositing into Steakhouse Prime USDC means underwriting risks you usually can't see: how much you could lose, whether you'd get out in time, and what would cover it.

Morpho BlueVault (aggregates across markets)
How much could be lost?
36%of your deposit if collateral falls 50%Only smart-contract bug reaches a total 100%, with no warning to exit.
Can I exit?
Via underlying marketsonly governance changes give a 7-day timelock to exit — every other modeled failure is no-warning
What backs it?
No committed backstopnothing committed would cover a loss
Track record
No pool-level losses recorded36 audits, latest Dec 15, 2025

Collateral and oracle exposure

Each token you're exposed to, and the market it backs. If that market breaks, this is how much the vault loses, in dollars and as a share of the vault. Open a row for the price feed, stress curve, and supply-cap detail. Below, the oracles those prices depend on and what is at stake if one is compromised.

If collateral prices dropper asset · no liquidations · stress estimate
est. bad debt up to 15% of deposit

Driven by cbBTC −30% 12% · cbETH −30% 2% · WETH −30% <1% · other <1% · −100% 90% modeled all-to-zero bad-debt ceiling

cbBTCcbBTCMarket65%of vault · bad debt · $8.98mOracle exposure 7%

What it's made of

Market· Chainlink(aggregator)

cbBTC is priced via BTC / USD — market-rate feed (Chainlink).

BaseBTC / USDMarketChainlink
Markets this collateral backs · 1
  • → USDC86% LLTV0x663b…39b9Chainlink
Room to grow: $9.97m of $999.67m cap (<1% used)Aggregate Collateral Trust (ACT):$244.97m51 vaultsToken:0xcbb7…33bfAllocation: 72% of the vault · $9.97m

If it breaks

−30% default
At −30%:est. bad debt up to 12% of depositUses 1 market LLTV curve · capped at allocation $9.97m · drag to set this asset's drop
Oracle exposure: up to 7% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
cbETHcbETHMarket23%of vault · bad debt · $3.13mOracle exposure 2%

What it's made of

Market· Chainlink(aggregator)

cbETH is priced via CBETH / USD — market-rate feed (Chainlink).

BaseCBETH / USDMarketChainlink
Markets this collateral backs · 2
  • → USDC86% LLTV0xb40d…cd96Chainlink
  • → USDC77% LLTV0x97ff…8295Chainlink
Room to grow: $3.47m of $219.93m cap (2% used)Aggregate Collateral Trust (ACT):$37.25m44 vaultsToken:0x2ae3…ec22Allocation: 25% of the vault · $3.47m

If it breaks

−30% default
At −30%:est. bad debt up to 2% of depositUses 2 market LLTV curves · capped at allocation $3.47m · drag to set this asset's drop
Oracle exposure: up to 2% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
WETHWETHMarket2%of vault · bad debt · $246,258Oracle exposure 0.2%

What it's made of

Market· Chainlink(aggregator)

WETH is priced via ETH / USD, quoted in USDC / USD — 2-hop market-rate feeds (Chainlink).

BaseETH / USDMarketChainlinkQuoteUSDC / USDMarketChainlink
Markets this collateral backs · 1
  • → USDC86% LLTV0xfea2…afe4Chainlink
Room to grow: $273,256 of $199.93m cap (<1% used)Aggregate Collateral Trust (ACT):$62.65m33 vaultsToken:0x4200…0006Allocation: 2% of the vault · $273,256

If it breaks

−30% default
At −30%:est. bad debt up to 0.3% of depositUses 1 market LLTV curve · capped at allocation $273,256 · drag to set this asset's drop
Oracle exposure: up to 0.2% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
wstETHwstETHMarket1%of vault · bad debt · $157,479Oracle exposure 0.1%

What it's made of

Market· Chainlink(aggregator)

wstETH is priced via WSTETH / ETH × ETH / USD, quoted in USDC / USD — 3-hop market-rate feeds (Chainlink).

BaseWSTETH / ETHMarketChainlinkETH / USDMarketChainlinkQuoteUSDC / USDMarketChainlink
Markets this collateral backs · 1
  • → USDC86% LLTV0xd7a1…289aChainlink
Room to grow: $174,990 of $49.98m cap (<1% used)Aggregate Collateral Trust (ACT):$30.85m33 vaultsToken:0xc1cb…e452Allocation: 1% of the vault · $174,990

If it breaks

−30% default
At −30%:est. bad debt up to 0.2% of depositUses 1 market LLTV curve · capped at allocation $174,990 · drag to set this asset's drop
Oracle exposure: up to 0.1% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price

Oracle dependencies

1 feed · 1 control point

Up to10%of vault drainable if these feeds are mispriced · $1.38m

Each price traces to a feed and the on-chain admin that can move it. Compromise either to misprice the collateral and borrow against it. Per-row amounts overlap and are not summed.

  • Chainlink·a 4/9 Safe multisigprices wstETH, WETH, cbBTC, cbETH0xf0db…5b1b10% of vault · $1.38mdrainable if it is compromised
Updated 55min agoSources:on-chain reads via @defillama/sdkhttps://hub.snapshot.org/graphqlhttps://api.morpho.org/graphql