Steakhouse Financial
DeFi vault curator focused on stablecoin yield and risk management
Performances
RD Popularity Index
RD Growth Index
Revenue & Burn
Protocol income
$291.71KBuyback funds
$0Burn funds
--Buyback ratio
0.0%Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Oct 2026 | $291.71K | $0 | -- | 0.0% |
| Sep 2026 | $425.38K | $0 | -- | 0.0% |
| Aug 2026 | $327.2K | $0 | -- | 0.0% |
| Jul 2026 | $258.38K | $0 | -- | 0.0% |
| Jun 2026 | $313.27K | $0 | -- | 0.0% |
| May 2026 | $279.27K | $0 | -- | 0.0% |
Comparison
Investment
Follow Updates
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People
About Steakhouse Financial
Steakhouse Financial provides institutional-grade, non-custodial vaults for on-chain treasury management. Its core product, Box Vaults, is an ERC-4626 sub-vault architecture that allocates capital modularly between whitelisted strategies and lending modules (Aave v3, Morpho Blue). The system uses time-locked admin operations, an Aragon DAO guardian veto, and a structured shutdown/wind-down mechanism to protect users. Key pain points addressed: DeFi's lack of institutional-grade risk controls, opaque governance, and withdrawal uncertainty during stress. The vaults offer tiered products (Prime, High Yield, Term, Turbo) with varying risk/return profiles, and partnership vaults with entities like Coinbase, Safe, and Ramp. In the past six months (2026-03-12 to 2026-09-12), Steakhouse executed planned operational security hardening for Morpho and Box vaults (announced 2026-09-04), adding two new allocator addresses without disrupting operations or changing risk exposure. The platform reports $2.49B noncustodial assets supplied across 214.9K unique depositors, with notable partnerships including Tron/HTX, Farcaster, and Crypto.com. Negative aspects: documented risks include slippage, oracle inaccuracies, liquidity constraints on redemptions, and governance dependency requiring active guardian participation. Audits by ChainSecurity (Dec 2025) and Cantina (Jan 2026) cover the Box contracts.
Steakhouse Financial, as the largest vault curator in the Morpho ecosystem, manages assets with a lead of approximately $1 billion over the second-place curator, a gap that has widened rapidly over the past year from near parity to market consolidation. Another key milestone occurred in March 2026 when it suffered a DNS hijacking attack, where attackers used telephone social engineering against its domain provider to alter DNS records and attempt a domain transfer. The changes were promptly revoked, leaving all vaults and contracts unaffected and user funds safe, highlighting its resilience in security incidents.
Major Steakhouse progress over the past six months:
In March 2026, launched a new App unifying all curated vaults, introducing Term (direct holdings of underlying assets like Pendle PT) and Turbo (leverage/carry structures) strategy types.
In June, launched the Confidential USDC Prime Vault, the first DeFi yield venue for cUSDC on Ethereum, enabling lending with encrypted balances and transfer amounts.
In July, Robinhood Chain mainnet went live; Robinhood Earn, a non-custodial yield product, is curated by Steakhouse and denominated in USDG. Elwood integrated Morpho Earn positions, allowing institutions to monitor Steakhouse vaults within portfolio management systems.
H1 2026: zero bad debt; Morpho deposits grew from $1.55bn to $1.70bn; remained largest curator (~2x the second); first to surpass $1bn in V2 deposits; 52% of Morpho stablecoin deposits. Morpho overtook Aave as the largest USDC lending venue; Steakhouse manages ~$1.4bn USDC, ~$1bn on Base, with $368m from the Coinbase App.
In August, launched a reUSD collateral market on Kamino and onboarded USDC from Vaultedge's PSM.
Future focus: further develop vault infrastructure, deepen institutional/fintech distribution (e.g., Robinhood), and expand curation of non-custodial onchain lending.
Co-founders and core executives of Steakhouse Financial:
adcv (Co-founder & Chairman, Twitter: https://x.com/adcv_)
Sébastien Derivaux (Chief & Co-founder, Twitter: https://x.com/SebVentures)
Aes (Co-founder, Twitter: https://x.com/AesPoker)
roo (Co-founder, Twitter: https://x.com/0x_roo)