# Steakhouse Financial

*Institutional asset-liability manager and curator of $486M+ Morpho Blue vaults for Robinhood Earn USDG*

Steakhouse Financial is the primary credit and risk curator powering Robinhood Earn on Robinhood Chain, managing over $486 million in Morpho Blue vaults to safely generate sustainable ~7% APY on USDG deposits without centralized counterparty risk.

## At a glance

- **Type:** defi
- **Category:** lending-yield
- **Status:** mainnet
- **Website:** https://www.steakhouse.financial/

## The take

### Best for
- Robinhood Earn depositors wanting institutional-grade credit risk modeling and transparency
- Borrowers looking for curated institutional lending terms against prime crypto and RWA collateral
- Fintechs seeking battle-tested balance-sheet management and decentralized yield architecture

### Watch out
- Vault yields fluctuate according to market-wide demand from institutional borrowers
- Curated vaults carry smart-contract risk and liquidation parameter risks across underlying borrow markets
- Steakhouse acts as an advisor and curator, not a guarantor of principal

## Key facts

- **Role on the chain:** Exclusive risk curator for the flagship Morpho USDG vaults powering Robinhood Earn's variable ~7% yield. _(confidence 60%)_
- **Assets under curation:** Over $486M in USDG vaults across Robinhood Chain and leading EVM networks. _(confidence 60%)_
- **Risk methodology:** Real-time collateral ratio monitoring, bad debt avoidance modeling, and stress-tested liquidation thresholds. _(confidence 60%)_
- **Auditing & governance:** Fully transparent on-chain accounting with public risk reporting published regularly. _(confidence 60%)_

## Key features

- **Morpho Blue Vault Curation** _(confidence 60%)_: Sets collateral factors, borrow rates, and oracle parameters to optimize safety and yield for USDG depositors.
- **Automated Liquidity Rebalancing** _(confidence 60%)_: Dynamically rebalances deposits across isolated Morpho markets to maximize APY while maintaining liquidity.
- **Real-Time Risk Dashboard** _(confidence 60%)_: Provides open-source dashboards tracking vault utilization, collateral health, and liquidation buffers.

## Key influencers & builders (X)

- [Sebastien Derivaux (@SebVentures)](https://x.com/SebVentures) · *Founder & Lead Asset Manager* — Former MakerDAO asset-liability lead; founder of Steakhouse Financial and architect of the Robinhood Earn Morpho vaults.
- [Steakhouse Financial (@SteakhouseFi)](https://x.com/SteakhouseFi) · *Official Company Account* — Institutional crypto financial advisory managing multi-hundred-million-dollar credit portfolios onchain.
- [Paul Frambot (@PaulFrambot)](https://x.com/PaulFrambot) · *CEO, Morpho Labs* — Morpho co-founder working closely with Steakhouse on the Robinhood Earn infrastructure.

## Related entities

- [Morpho](https://hoodl2.com/entity/morpho) — integrates
- [Robinhood Chain](https://hoodl2.com/entity/robinhood-chain) — builds on

## Sources

1. [DefiLlama - Steakhouse Financial TVL](https://defillama.com/protocol/steakhouse-financial) — defillama.com
2. [Steakhouse Financial - Stablecoin Financial Advisory](https://www.steakhouse.financial/) — steakhouse.financial
3. [Steakhouse Financial Website](https://steakhouse.financial/) — Steakhouse
4. [Morpho Vault Documentation](https://docs.morpho.org/) — Morpho
5. [Steakhouse on X](https://x.com/SteakhouseFi) — X

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Last reviewed: 4 Sept 2026  
Canonical: https://hoodl2.com/entity/steakhouse-financial  
Source: HoodL2 (https://hoodl2.com) — an independent, sourced reference for the Robinhood Chain ecosystem. Not affiliated with Robinhood Markets or its subsidiaries.