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Steakhouse Prime EURC

Risk reportEthereum0xbeef…ec58

Risk

Depositing into Steakhouse Prime EURC 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 16% of deposit

Driven by WBTC −30% 10% · wstETH −30% 3% · cbBTC −30% 2% · other <1% · −100% 86% modeled all-to-zero bad-debt ceiling

WBTCMarket56%of vault · bad debt · $583,203Oracle exposure 10%

What it's made of

WBTC token page
Market· Chainlink(aggregator, managed)

WBTC is priced via WBTC / BTC × BTC / USD, quoted in EURC / USD — 3-hop market-rate feeds (Chainlink).

BaseWBTC / BTCMarketChainlinkBTC / USDMarketChainlinkQuoteEURC / USDMarketChainlink
Heartbeat 24hDeviation 50bps
Markets this collateral backs · 2
  • → EURC86% LLTV0x9cb3…7b89Chainlink
  • → EURC86% LLTV0x0361…9645Chainlink
Aggregate Collateral Trust (ACT):$437.11m93 vaultsToken:0x2260…c599Allocation: 66% of the vault · $685,772

If it breaks

−30% default
At −30%:est. bad debt up to 10% of depositUses 2 market LLTV curves · capped at allocation $685,772 · drag to set this asset's drop
Oracle exposure: up to 10% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
wstETHMarket18%of vault · bad debt · $187,652Oracle exposure 3%

What it's made of

wstETH token page
Market· Chainlink(composite)

Priced off live market data — a depeg moves the price and can liquidate positions.

Markets this collateral backs · 2
  • → EURC86% LLTV0x6eb9…7348Chainlink
  • → EURC86% LLTV0x9166…fdd0Chainlink
Aggregate Collateral Trust (ACT):$630.38m110 vaultsToken:0x7f39…2ca0Allocation: 21% of the vault · $218,985

If it breaks

−30% default
At −30%:est. bad debt up to 3% of depositUses 2 market LLTV curves · capped at allocation $218,985 · drag to set this asset's drop
Oracle exposure: up to 3% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
cbBTCMarket11%of vault · bad debt · $116,418Oracle exposure 1%

What it's made of

cbBTC token page
Market· Chainlink(managed, aggregator)

Priced off live market data — a depeg moves the price and can liquidate positions.

Markets this collateral backs · 2
  • → EURC86% LLTV0xc7cd…fd0bChainlink
  • → EURC86% LLTV0x794b…fefbChainlink
Aggregate Collateral Trust (ACT):$299.65m104 vaultsToken:0xcbb7…33bfAllocation: 12% of the vault · $128,940

If it breaks

−30% default
At −30%:est. bad debt up to 2% of depositUses 2 market LLTV curves · capped at allocation $128,940 · drag to set this asset's drop
Oracle exposure: up to 1% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price
WETHMarket0.2%of vault · bad debt · $2,493Oracle exposure <0.1%

What it's made of

WETH token page
Market· Chainlink(aggregator)

Priced off live market data — a depeg moves the price and can liquidate positions.

Markets this collateral backs · 2
  • → EURC86% LLTV0x7e5c…4748Chainlink
  • → EURC86% LLTV0x9cbf…d5d0Chainlink
Aggregate Collateral Trust (ACT):$845.38m28 vaultsToken:0xc02a…6cc2Allocation: 0.3% of the vault · $2,908

If it breaks

−30% default
At −30%:est. bad debt up to <0.1% of depositUses 2 market LLTV curves · capped at allocation $2,908 · 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

+1 market with no current position

Oracle dependencies

1 feed1 control point

Up to14%of vault drainable if these feeds are mispriced · $146,840

Each price traces to a feed and the onchain 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 cbBTC, WBTC, wstETH, WETH, steakUSDC0x21f7…73ca14% of vault · $146,840drainable if it is compromised
Updated 55min agoSources:on-chain reads via @defillama/sdkhttps://hub.snapshot.org/graphqlhttps://api.morpho.org/graphql