# Steakhouse Financial

## Hub

- [Steakhouse Docs | Risk, Products & Markets](https://steakhouse.financial/docs/readme.md): Risk framework, vault specs, market data, and disclosures from Steakhouse Financial, the leading DeFi vault curator managing $4B+ in stablecoin deposits.

## Risk Management

- [Risk Framework Overview](https://steakhouse.financial/docs/risk-management/readme.md): How Steakhouse Financial underwrites collateral, configures vault controls, and monitors DeFi lending positions across its Prime and High Yield mandates.
- [Collateral Standards](https://steakhouse.financial/docs/risk-management/collateral/collateral-standards.md): The Multi-Layer Risk Rating used by Steakhouse Financial to produce a Final Market Rating that determines vault eligibility and exposure limits.
- [Layers, Pillars and Criteria](https://steakhouse.financial/docs/risk-management/collateral/layers-pillars-and-criteria.md): How layers, pillars, and individual scoring criteria are structured and graded on the AA-to-C scale in Steakhouse Financial's risk model.
- [Asset Rating (Layer 1)](https://steakhouse.financial/docs/risk-management/collateral/layers-pillars-and-criteria/asset-rating-layer-1.md): Layer 1 of Steakhouse Financial's risk model, assessing issuer risk, credit risk, and operational risk for the underlying token.
- [Issuer (Pillar 1)](https://steakhouse.financial/docs/risk-management/collateral/layers-pillars-and-criteria/asset-rating-layer-1/issuer-pillar-1.md): How the token issuer is assessed across Social, Decentralization, and Technical criteria, with the pillar rating set by the best of the three.
- [Credit Risk (Pillar 2)](https://steakhouse.financial/docs/risk-management/collateral/layers-pillars-and-criteria/asset-rating-layer-1/credit-risk-pillar-2.md): Discretionary assessment of the probability of loss of value from the asset, expressed as a single rating from AA to C.
- [Operational Risk (Pillar 3)](https://steakhouse.financial/docs/risk-management/collateral/layers-pillars-and-criteria/asset-rating-layer-1/operational-risk-pillar-3.md): How protocol longevity, audit coverage, and economic transparency are scored, with the pillar rating set by the worst of the three criteria.
- [Platform Rating (Layer 2)](https://steakhouse.financial/docs/risk-management/collateral/layers-pillars-and-criteria/platform-rating-layer-2.md): Layer 2 of Steakhouse Financial's risk model, assessing the DeFi protocol that wraps, leverages, or transforms the underlying asset.
- [Market Rating (Layer 3)](https://steakhouse.financial/docs/risk-management/collateral/layers-pillars-and-criteria/market-rating-layer-3.md): Layer 3 of Steakhouse Financial's risk model, evaluating oracle quality, liquidity depth, price fluctuation, and LLTV for each lending market.
- [Oracle](https://steakhouse.financial/docs/risk-management/collateral/layers-pillars-and-criteria/market-rating-layer-3/oracle.md): How Steakhouse Financial evaluates onchain pricing accuracy, including the MetaOracle that switches between price feeds on deviation.
- [Liquidity](https://steakhouse.financial/docs/risk-management/collateral/layers-pillars-and-criteria/market-rating-layer-3/liquidity.md): How token liquidity is scored based on the ability to exchange for another store of value through primary redemption or secondary markets.
- [Price Fluctuation](https://steakhouse.financial/docs/risk-management/collateral/layers-pillars-and-criteria/market-rating-layer-3/price-fluctuation.md): How the exchange rate between paired assets in a lending market is evaluated, covering volatility, correlation, and expected price evolution.
- [LLTV](https://steakhouse.financial/docs/risk-management/collateral/layers-pillars-and-criteria/market-rating-layer-3/lltv.md): How the Liquidation Loan-to-Value ratio factors into market risk scoring, including the notch-based bonus applied to the Price Fluctuation rating.
- [Credit Enhancement](https://steakhouse.financial/docs/risk-management/collateral/layers-pillars-and-criteria/market-rating-layer-3/credit-enhancement.md): How Price Fluctuation and LLTV ratings combine into a Credit Enhancement score that can upgrade the base Asset Rating.
- [Adjusted Asset Rating](https://steakhouse.financial/docs/risk-management/collateral/adjusted-asset-rating.md): How the Adjusted Asset Rating is calculated by taking the better of Credit Risk and Credit Enhancement in Steakhouse Financial's risk model.
- [Final Market Rating](https://steakhouse.financial/docs/risk-management/collateral/final-market-rating.md): How the Final Market Rating is derived as the worst-of across the Adjusted Asset Rating, Platform Rating, and Market Rating.
- [Ongoing Risk Monitoring](https://steakhouse.financial/docs/risk-management/monitoring/ongoing-risk-monitoring.md): Steakhouse Financial's approach to risk monitoring across all platforms, covering allocation controls, vault setup, and real-time portfolio monitoring.
- [Allocation Process](https://steakhouse.financial/docs/risk-management/monitoring/allocation-process.md): Risk checks Steakhouse Financial applies before deploying vault capital, covering credit, counterparty, liquidity, oracle, smart contract, and liquidity trap risk.
- [Vault Setup and Controls](https://steakhouse.financial/docs/risk-management/monitoring/vault-setup-and-controls.md): Depositor-centric vault safeguards including owner multisig, 7-day action timelocks, and the Aragon DAO guardian veto mechanism for Morpho vaults.
- [Portfolio Monitoring](https://steakhouse.financial/docs/risk-management/monitoring/portfolio-monitoring.md): How Steakhouse Financial's proprietary off-chain reallocation engine monitors underlying markets and automates vault rebalancing.
- [Alert System](https://steakhouse.financial/docs/risk-management/monitoring/alert-system.md): Steakhouse Financial's automated alert framework covering price, on-chain activity, governance, and issuer risk with calibrated incident response.

## Products

- [Products](https://steakhouse.financial/docs/products/readme.md): Steakhouse Financial's onchain vault products, stablecoin strategy building blocks, partnership integrations, and DeFi infrastructure.
- [Stablecoin Products Explained](https://steakhouse.financial/docs/products/stablecoin-products.md): What are DeFi strategies, vaults and how can you use them to build products to serve stablecoin-based customers?
- [Building Blocks](https://steakhouse.financial/docs/products/stablecoin-products/blocks.md): The four strategies that power Steakhouse Financial vaults: Repo (overcollateralized lending), Term (fixed-rate), Carry, and Looping.
- [Repo](https://steakhouse.financial/docs/products/stablecoin-products/blocks/repo.md): Overview of overcollateralized lending
- [Term](https://steakhouse.financial/docs/products/stablecoin-products/blocks/term.md): Overview of term strategies
- [Carry](https://steakhouse.financial/docs/products/stablecoin-products/blocks/carry.md): Overview of carry strategies
- [Looping](https://steakhouse.financial/docs/products/stablecoin-products/blocks/looping.md): Overview of looping strategies.
- [Vaults](https://steakhouse.financial/docs/products/stablecoin-products/vaults.md): Overview of the different tradeoffs to balance when working with a vault platform
- [Vault Products](https://steakhouse.financial/docs/products/vault-products.md): Product matrix showing Steakhouse Financial's vault lines by risk level (Prime, High Yield, Turbo) and liquidity profile (Instant, Term), with ticker symbols and links to each product.
- [Current Product Lines](https://steakhouse.financial/docs/products/vault-products/current.md): Prime, High Yield, and Turbo vault product families from Steakhouse Financial, with collateral policies, fee structures, timelocks, and links to individual vault specs.
- [Prime Instant](https://steakhouse.financial/docs/products/vault-products/current/prime-instant.md): Steakhouse Financial's Prime Instant vault specs and deployment addresses across Ethereum, Base, and Solana for USDC, USDT, ETH, and PYUSD.
- [Prime Term](https://steakhouse.financial/docs/products/vault-products/current/prime-term.md): Steakhouse Financial's fixed-rate Prime lending vaults targeting 4-6 month duration with A-rated or above collateral on Ethereum.
- [High Yield Instant](https://steakhouse.financial/docs/products/vault-products/current/high-yield-instant.md): Steakhouse Financial's High Yield Instant vault specs and deployment addresses across Ethereum, Base, Arbitrum, and Solana for USDC, USDT, PYUSD, and USDG.
- [High Yield Term](https://steakhouse.financial/docs/products/vault-products/current/high-yield-term.md): Steakhouse Financial's High Yield Term vault specs with fixed-rate strategies, CC-rated or above collateral, and up to 10% performance fees on Ethereum.
- [Turbo](https://steakhouse.financial/docs/products/vault-products/current/turbo.md): Steakhouse Financial's Turbo vaults targeting maximum yield through leveraged looping and carry strategies on Ethereum, Base, and Arbitrum.
- [Partnership Vaults](https://steakhouse.financial/docs/products/vault-products/partnership-vaults.md): Co-created vault integrations between Steakhouse Financial and partners including Coinbase, Safe, Farcaster, Ramp Network, Crypto.com, and others.
- [Legacy Vaults](https://steakhouse.financial/docs/products/vault-products/legacy-vaults.md): Steakhouse Financial's deprioritized Morpho Vaults v1 deployments, still operational but superseded by current product lines.
- [Coinbase DeFi Lend](https://steakhouse.financial/docs/products/coinbase.md): How USDC holders access Steakhouse Financial vault products through Coinbase DeFi Lend using Smart Wallet on Base.
- [Steakhouse USDC on Coinbase](https://steakhouse.financial/docs/products/coinbase/steakhouse-usdc-on-coinbase.md): Overview of the strategy and risk management of Steakhouse USDC on Coinbase
- [Steakhouse High Yield USDC Edition on Coinbase](https://steakhouse.financial/docs/products/coinbase/steakhouse-high-yield-edition-coinbase.md): Overview of the strategy and risk management of Steakhouse High Yield USDC Edition on Coinbase
- [Infrastructure](https://steakhouse.financial/docs/products/infrastructure.md): Infrastructure utilities developed by Steakhouse Financial for Morpho and DeFi integrations.
- [MetaOracle (Deviation Timelock)](https://steakhouse.financial/docs/products/infrastructure/metaoracle.md): Steakhouse Financial's oracle safety wrapper that switches between primary and backup price feeds using a challenge-based timelock mechanism on Morpho.
- [Box Vaults](https://steakhouse.financial/docs/products/infrastructure/box-vaults.md): ERC-4626 child vault architecture by Steakhouse Financial for modular, non-custodial capital allocation with timelocked governance and guardian veto controls.
- [Technical Reference](https://steakhouse.financial/docs/products/infrastructure/box-vaults/box-vaults-technical.md): Smart contract technical reference for Box Vaults by Steakhouse Financial, covering roles, timelock governance, allocation controls, lifecycle states, and funding modules.
- [Supervisor v2](https://steakhouse.financial/docs/products/infrastructure/supervisor-v2.md): Steakhouse Financial's governance layer for Morpho Vault V2 that makes the Sentinel role permanent and gives Guardians a veto on material vault changes.

## Markets

- [Market Overview](https://steakhouse.financial/docs/markets/readme.md): Steakhouse Financial's current risk ratings for collateral tokens, Morpho repo markets, and Kamino lending markets using the AA-to-C rating scale
- [Morpho V1 Markets](https://steakhouse.financial/docs/markets/readme/morpho-v1.md)

## Documents

- [Documents](https://steakhouse.financial/docs/documents/readme.md)
- [DeFi Vaults](https://steakhouse.financial/docs/documents/disclaimers/vaults.md)
- [Privacy Policy](https://steakhouse.financial/docs/documents/general/privacy.md)
- [Terms & Conditions](https://steakhouse.financial/docs/documents/general/tcs.md)
- [Assets](https://steakhouse.financial/docs/documents/press-kit/assets.md): Overview of key Steakhouse Financial assets, colors and logos


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