Vault Curator - Steak House Finance
Initially established as core contributors to the Sky (f.k.a. MakerDAO) ecosystem, Steakhouse has gone on to become a curator and DeFi advisory firm working with some of the largest protocols, including Lido, Morpho, Ethena, ENS, Arbitrum, and more.
Reference used: steakhouse.financial / hackmd.io/@SteakhouseFi / Aribtrum forum / ENS discussion.
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Kamino Finance
Steakhouse is an official risk contributor to Kamino Finance
Here a list of some of their vaults.
- Risk: conservative
- USDC Prime is a conservative lending strategy designed to deliver consistent, risk-adjusted yields by allocating funds across highly liquid markets and premium collateral. Managed by Steakhouse Financial, this vault optimizes returns by lending USDC against both core collateral markets (ain/JLP) and select real-world asset (RWA) pools, dynamically adapting to market conditions to ensure robust yield performance and capital preservation.
- Risk: Balanced
- The Steakhouse High Yield USDC vault aims to optimize yields by lending USDC against a wide range of collaterals.
- Risk: Balanced
- Steakhouse USDG vault aims to optimize yields by lending USDG against blue chip crypto and real world asset (RWA) collateral markets, depending on market conditions. We call this the “dual engine”.
Reference: gov.kamino.finance - Introducing Steakhouse Financial as Official Risk Contributors
Morpho
Steakhouse financial is a vault manager for Morpho
Here a non-exhaustive list of some of their vaults.
See also steakhouse.financial - morpho-vaults
Ethereum
The Steakhouse USDC vault aims to optimize yields by lending USDC against blue chip crypto and real world asset (RWA) collateral markets, depending on market conditions. We call this the “dual engine.”
The Steakhouse USDT vault aims to optimize yields by lending USDT against blue chip crypto and real world asset (RWA) collateral markets, depending on market conditions. We call this the “dual engine.”
- SteakhouseRUSD
The Steakhouse rUSD vault allows Reservoir Protocol to deploy rUSD against bluechip crypto and RWA collaterals.
Katana
The Steakhouse Prime AUSD vault aims to optimize yields by lending AUSD against blue chip crypto assets.
Arbitrum
The Steakhouse Prime ETH vault aims to optimize yields by lending ETH against blue chip crypto assets.
The Steakhouse High Yield USDT0 vault aims to optimize yields by lending USDT0 against a wide range of collaterals.
Proposal
RWA-backed Steakhouse USDC MetaMorpho Vault
Proposal date: November 9, 2023
The inaugural USDC vault curated by Steakhouse Financial will initially lend against tokenized T-bills, namely Backed Finance’s bIB01. bIB01 is an ERC-20 token backed by IB01 (Blackrock’s iShares 0-1 yr US Treasury ETF). Suppliers to the vault can earn a passive yield by lending their USDC to over-collateralized borrowers, who in turn provide bIB01 as collateral for their loans.
Reference: Steakhouse Financial: RWA-backed Flagship USDC MetaMorpho Vault Whitlistinghttps://forum.morpho.org/t/steakhouse-financial-rwa-backed-flagship-usdc-metamorpho-vault-whitlisting/375)
Introducing the Smokehouse product line: bbqUSDC and bbqDAI
Smokehouse vaults are for frontiersmen and women who are not afraid of exotic collateral types. It will use a wide range of collateral to allow vaults to be exposed to the most diverse possible types of borrowing activity. Like all our vaults, it is non-custodial and users should perform their risk analysis by themselves before depositing.
The Smokehouse vault keeps all the great features of other Steakhouse vaults:
- 3-day timelock allowing people to exit if a new collateral is not fitting their risk tolerance
- On-chain Aragon DAO Guardians to allow all depositors to veto any significant action made by the curator:
- State of the art programmatic reallocation system
Reference: Introducing the Smokehouse product line: bbqUSDC and bbqDAI
MakerDAO / SKY
Reference
- steakhouse.financial - MakerDAO Financial Report 2023
- MIPS - Rewards Plan budget for the Strategic Finance Core Unit (SF-001) / Steakhouse Financial.
Grove (Sky)
Steakhouse Financial is building Grove, an institutional-grade credit protocol to unlock USDS’s full potential by bridging DeFi and traditional finance.
It will enable Sky to scale offchain credit, create new farming opportunities, and offer USDS holders better savings rates with diversified real-world assets.
Its main product is Grove Allocator:
- Grove allocator integrated directly with a wide range of tokenized assets extending the reach of DeFi to major institutions, scalable RWAs, and frontier DeFi protocols.
- Optimized yield: The Grove Allocation layer aggregates yields across a growing list of on-chain and off-chain tokenized assets.
Reference:
Example
According to an announcement, Sky (formerly MakerDAO) approved a $1 billion allocation into the Janus Henderson Anemoy AAA CLO Strategy — an onchain collateralized loan obligation (CLO) launched in collaboration with tokenized real-world asset lending protocol Centrifuge — using Grove’s decentralized infrastructure.
Chronicle Oracle
Steakhouse is an oracle provider to Chronicle Protocol’s decentralized validator network
Reference: The Block - Bitcoin Suisse, Steakhouse Financial and Block Analitica join as validators for oracle provider Chronicle Protocol - The Block, Chronicle Labs - The Security of DeFi Grows Stronger: Steakhouse Financial, Block Analitica, and Bitcoin Suisse Join Chronicle
Other
Arbitrum
See Aribtrum forum
Lido
[2022]
Lido DAO onboards Steakhouse Financial as the Finance unit, partnering with Lido DAO contributors to build out full financial statements; develop, manage, and execute payroll processes end-to-end in concert with operations and legal workstreams; create standardized financial reports for the entire DAO including cash flow, grants, operating expenses; and develop financing and operating plans to support long-term growth of Lido DAO.
Status: passed
See Lido - research