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Steakhouse Ethena USDtb

0xbeefc1cdafc5b4a649b54d07afc6bf0f75c6f4e2View on depeg monitor →

etherc4626 vault18 (low)Needs attentionStale (53d)

Last scored: 4/16/2026, 9:25:18 AM⚠ May be stale

Low risk18/100High risk

Top 3 risk drivers

  1. Centralization40 pts(+4.80 to score)
  2. Strategy50 pts(+2.50 to score)
  3. exit_liquidity40 pts(+2.40 to score)

Share price: $1.0240

Score history (30d, 63 snapshots)-2 pts since 2026-04-02
86050100

Alert History

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✓ Safe to list

Low composite risk score. Standard disclosures apply.

Withdrawal risk: Some liquidity pressure

93% utilization — withdrawals may be slow or partially queued.

What's in this vault

Deposits

USDTB

What this vault is exposed to

You deposit USDTB. Here's what backs your position.

sUSDe
100.0%
$50.1M92% LTV
USDe
0.0%
$692% LTV
?
0.0%
$0

Source: Morpho markets

Rating breakdown

Sub-scores sorted by contribution. Each bar is relative to the top contributor.

liquidation_proximity85
market_concentration80
Strategy50
Centralization40
Asset40
exit_liquidity40
utilization35
oracle20
Maturity10
fee_drain5
Protocol risk1

Score 18 (LOW). Primary drivers: centralized governance, high utilization, complex strategy.

Risk flags

EOA ownerHigh utilisationliquidation_proximity_risklow_exit_liquiditymetamorpho_fork_donation_riskshared_curator_risk

Recursive lending & looping

Loop exposure

0.0%

Trading Strategy technical risk

From Trading Strategy's Vault Technical Risk Framework

Negligible

Funding regime

Perp funding rate data (healthy vs compressed/inverted) will indicate when vault yield is from stable vs stressed conditions. Coming soon.