Steakhouse USDC V2 wallet

What is Steakhouse USDC V2 (STEAKUSDC)?

This is the V2 generation of the Steakhouse USDC vault on Morpho. Depositors put in USDC and receive STEAKUSDC, a share token representing a slice of the vault's total position. The curator, Steakhouse, decides how that USDC is spread across Morpho lending markets, splitting it between markets collateralised by major crypto assets and markets collateralised by real world assets. Morpho itself supplies the lending infrastructure; the allocation decisions are the curator's, which means the risk profile of this vault is a product of who is curating it rather than a property of Morpho.

The name collision to watch

Steakhouse has run more than one USDC vault, and they share the ticker STEAKUSDC. The V2 vault uses the newer Morpho Vaults V2 design, with its own contract and its own share accounting, and shares of one are not shares of the other. If a portfolio view shows a STEAKUSDC line, the address it came from is what tells you which vault you own.

Shares behave like any ERC-4626 position: the count stays put and the exchange rate back into USDC is what moves. Withdrawals depend on what the vault's markets can free up at that moment, so a very large exit is not always instant.

Supported networks in Tangem (1): Ethereum, with ETH covering gas.

Once the deposit exists, the vault does the work and the share sits still. Tangem reads the position straight from the chain when you open the app, and the signing key stays sealed in the card between the day you deposit and the day you withdraw. That gap is usually long, and this is the kind of storage built for long gaps.