Steakhouse
Morpho · Base
Frequently Asked Questions
What is the current APY for Steakhouse?
The current spot APY for Steakhouse on Morpho (Base) is 3.17%. The 30-day average APY is 3.21%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in Steakhouse?
The total value locked (TVL) in Steakhouse is $293.3M. TVL measures the total USDC assets currently deposited in this vault.
Does the Steakhouse yield include token rewards?
No. Earnbase tracks on-chain APY only, derived from the vault's exchange rate changes over time. External incentives, token rewards, points programs, and liquidity mining bonuses are not included in the reported APY.
Which network is Steakhouse deployed on?
Steakhouse is deployed on Base. Network choice affects transaction costs, settlement speed, and which protocols are available. On-chain APY figures on Earnbase are calculated from exchange rate data on Base directly.
Compare with Other USDC Strategies
| Strategy | Platform | Network | APY | TVL |
|---|---|---|---|---|
| Bitcoin Dollar USDC | IPOR Fusion | Ethereum | 17.17% | $312.6K |
| Syntropia Boosted | Lagoon | Ethereum | 16.05% | $345.2K |
| 722Capital USDC | Lagoon | Base | 15.52% | $1.2M |
| Hyperithm (Private Credit) | Wildcat | Mainnet | 15.00% | $30.0M |
| mHYPER Looping | IPOR Fusion | Ethereum | 13.65% | $124.0K |
| Coinshift Conservative USPC | Lagoon | Ethereum | 13.33% | $193.5K |
| Earn - avUSDC | Avantis | Base | 12.08% | $44.8M |
| USDC Vault | 40 Acres | Base | 12.06% | $7.8M |
| Gami Stake DAO USDC | Lagoon | Ethereum | 11.91% | $303.9K |
| Syntropia USDC Core | Lagoon | Ethereum | 11.74% | $996.0K |
More Morpho Strategies
Steakhouse
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Yield Overview
Steakhouse is a USDC yield strategy on Morpho (Base). It currently generates 3.17% APY (24h) with a 30-day average of 3.21%. The vault holds $293.3M in total value locked. APY is derived from the vault's on-chain exchange rate and does not include external incentives.
Morpho · Base
Market Benchmarking
Within the USDC ecosystem, this product ranks #107 out of 153 strategies. Its 3.17% yield is 30.0% lower than the market average of 4.53%.
How Steakhouse Compares
Ecosystem Context
Positioned within the Base ecosystem, this product's yield is 30.4% lower than the network average for USDC strategies. Within Morpho, it competes against 60 other USDC strategies. By TVL, this product ranks #3 of 45 USDC strategies on Base.
About Morpho
Morpho is a decentralized lending protocol that enables the creation of isolated lending markets and curated vaults. Earnbase tracks 61 strategies on Morpho.
USDC on Base#36 of 45
Yield Sustainability
The 24h APY of 3.17% is nearly identical to the 30-day mean, with only a 1.2% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Yield Trajectory
Steakhouse recorded a 24h APY of 3.17% in the most recent data point. Over the past 30 days, the product delivered positive yields on 30 out of 30 days. Week-over-week, yields have increased by 6.7%. The strongest 7-day period was Apr 22–Apr 28 averaging 3.96%, while the weakest was Apr 29–May 05 at 3.09%. Current 24h APY of 3.17% is 6.2% below the product's own 30-day average.
Weekly yields have improved for 2 consecutive weeks, with the most recent 7-day average of 3.33% representing a sustained weekly performance in the tracked period.
Weekly Breakdown
Historical APY Statistics
Over the past 166 days, Steakhouse's yield has shown a downward trend, with yields compressing from 5.04% to 3.76%, a 25.4% decline. The sustainability score of 99/100 aligns with a period of relative yield stability.
Historical TVL Statistics
Over the past 166 days, Steakhouse's total value locked has experienced a contraction, declining from $438.3M to $281.2M, a 35.8% reduction.
History
FAQ
Yield & Performance
Steakhouse on Morpho offers a 24-hour APY of 3.17%, a 30-day average of 3.21% on USDC. Yields are variable and update daily based on protocol activity.
Steakhouse ranks #107 out of 153 monitored USDC strategies. Its current yield of 3.17% is 30.0% below the market average of 4.53%.
Earnbase rates the yield sustainability of Steakhouse at 99/100, classified as "Very Stable". The 24h APY of 3.17% is nearly identical to the 30-day mean, with only a 1.2% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Over the past 166 days, Steakhouse has shown a downward yield trajectory. The average APY moved from 5.04% to 3.76%.
Steakhouse has a yield volatility rating of "Moderate" (standard deviation: 0.82pp over 166 days). The APY has ranged from 2.99% to 6.56% in the tracked period, with an average of 4.21%.
Liquidity & TVL
Steakhouse currently has a total value locked (TVL) of $293.3M in USDC deposits.
Steakhouse holds $293.3M in USDC deposits. Across all 153 tracked USDC strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $293.3M places it within the broader spectrum of USDC opportunities tracked on Earnbase.
By total value locked, Steakhouse ranks #3 of 45 USDC strategies on Base. It currently holds $293.3M.
Steakhouse's TVL is currently declining. Over the past 166 days, TVL moved from $438.3M to $281.2M, a -35.8% change. The 30-day high was $506.4M and the 30-day low was $265.9M.
Yields are declining as more capital enters the vault, a common dynamic where increased deposits dilute per-depositor returns. In general, rising TVL in a lending vault can compress yields as more capital competes for the same borrow demand.
Over the past 30 days, Steakhouse had 20 days of inflows and 9 days of outflows. The largest single-day inflow was +$5.1M (Apr 24, 2026) and the largest outflow was -$7.4M (May 02, 2026). Net 30-day TVL change: +4.7%.
Strategy & Access
Steakhouse operates on the Base network and is managed by Morpho. It accepts USDC deposits.
To deposit into Steakhouse, you need USDC tokens on the Base network. Visit the Morpho platform directly to connect your wallet and make a deposit.
Steakhouse ranks among 45 monitored USDC strategies on Base. Its yield of 3.17% is 30.4% below the Base average of 4.56%.
Steakhouse is deployed on Morpho's vault infrastructure. Fee structures are set at the protocol and curator level. Consult the vault directly for current performance and management fee rates.
Morpho is the DeFi protocol infrastructure that Steakhouse operates on. It provides the smart contract layer for deposits, withdrawals, and strategy execution on the Base network.
For illustrative purposes only. Based on the current 3.17% on-chain APY for USDC. Does not include external incentives. Past performance does not guarantee future results. Actual returns may vary.
This page provides informational data aggregated from on-chain sources and is not financial advice. Always verify data directly with Morpho before depositing.
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