> For the complete documentation index, see [llms.txt](https://steakhouse.financial/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://steakhouse.financial/docs/products/zh/coinbase/steakhouse-usdc-on-coinbase.md).

# Coinbase 上的 Steakhouse USDC

{% hint style="info" %}
更多关于 [仓库](/docs/products/zh/stablecoin-products/blocks/repo.md) 策略
{% endhint %}

{% hint style="success" %}
Base 上的金库地址： `0xbeeF010f9cb27031ad51e3333f9aF9C6B1228183`
{% endhint %}

Coinbase 上的 Steakhouse USDC 是一个由 Steakhouse Financial 运营的 Prime Instant 借贷金库，可通过 Coinbase DeFi Lend 集成使用。该金库将存入的 USDC 部署到 Base 上 Morpho 的超额抵押借贷市场中，集中于蓝筹抵押资产对（cbBTC、cbETH、WETH、wstETH），贷款价值比介于 77% 和 86% 之间。

### 金库构成

该金库将 USDC 存款分配到 Base 上 Morpho 的超额抵押加密资产借贷市场，具体包括：

| 抵押品         | 清算贷款价值比 | 风险评级 |
| ----------- | ------- | ---- |
| cbBTC/USDC  | 86%     | A    |
| cbETH/USDC  | 77%     | A    |
| cbETH/USDC  | 86%     | A    |
| WETH/USDC   | 86%     | A    |
| wstETH/USDC | 86%     | A    |

我们针对 Morpho v1 市场的所有风险评级的最新仓库可在 [Morpho V1 市场](/docs/markets/zh/readme/morpho-v1.md).

### 再分配

我们运行自动再平衡机器人，根据市场需求将流动性重新分配到不同的借贷市场。我们的算法作用是随着时间推移，逐步使所有市场的借贷利率趋于一致。该利率模型会对其他借贷资金供应方以及不同市场中的借款活动做出响应。

### 流动性

对于拥有多个资金提供方的高流动性市场，Steakhouse USDC 的大多数存款应当能够保持流动。市场压力事件通常发生在抵押品价格快速下跌、导致大量清算时，这类事件下大多数借贷金库（包括 Prime 级别金库）也会出现提现需求。尽管完全无法提现的风险并非 0，但 Prime 市场在此类市场压力事件中通常仍然完全保持流动。

## 风险管理

{% hint style="info" %}
有关我们风险管理流程的更多信息，请参阅我们的 [Risk Management](https://steakhouse.financial/docs/risk-management/zh/).
{% endhint %}

该金库遵循的主要策略是配置到超额抵押的加密资产贷款，主要以 BTC 和 ETH 相关抵押品作为担保，并优先选择发行方质量最高且可用流动性最高的资产。我们基于以下三项关键标准对抵押品进行评估：

这一核保流程会得出下表中的评级，从而帮助我们将不同借贷市场分配到不同层级的金库。


---

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