Credit · Lending
Steakhouse is a risk curator: it underwrites collateral, sets loan-to-value parameters and allocates depositor stablecoins across overcollateralised lending markets, which is the economic core of a money market even though the matching engine belongs to Morpho and Euler. DefiLlama classifies it under "Risk Curators" per the DefiLlama API, but the product a depositor buys is a variable-rate overcollateralised lending position. It is the single most important non-Morpho credit actor on Robinhood Chain because it curates the vaults behind Robinhood Earn per Morpho's announcement.
Largest risk curator in DeFi lending.
Protocol TVL
$2.40B
Latest data · 15 min delay
Two-tier competitive set for a Lending entity: on-platform peers are clickable and comparable, off-platform names are context only.
TVL books under Morpho, Euler and Kamino vaults
No audits by design: Steakhouse is a risk curator and deploys no contracts of its own. Smart-contract risk sits with the venues it allocates to (Morpho, Euler, Kamino).
Percentile rank against the 12 on-platform Lending entities (snapshot as of 2026-07-27). Supply and borrow APY are omitted: no source covers the whole cohort, and a single-market rate would misrepresent a protocol-level number.
$2.41bn · rank 4 of 12
- Not reported by DefiLlama for this protocol
9 · rank 4 of 12
Listed 2025-05-20 · rank 11 of 11 reporting (cohort 12)
- Unverified (no structured audit metadata)
The full on-platform tag cohort. Rows marked direct carry a curated competitor relationship; borrowed can exceed TVL where DefiLlama nets borrowed collateral out of supplied.
Customizable lending infrastructure: isolated markets + curated vaults.
TVL $7.85Blive
Borrowed $4.09B
41 chains
Stablecoin-native credit stack tied to the Sky/Maker ecosystem.
TVL $4.58Blive
Borrowed $1.87B
9 chains
Savings for Everyone: open-source non-custodial liquidity protocol.
TVL $14.17Blive
Borrowed $10.95B
22 chains
Simple, battle-tested money markets (Compound III).
TVL $1.22Blive
Borrowed $571.4M
9 chains
Permissionless modular lending vaults.
TVL $325.0Mlive
Borrowed $605.2M
16 chains
Money market where collateral keeps its native rights.
TVL $224.6Mlive
Borrowed $274.7M
7 chains
Soft-liquidation CDP dollar.
TVL $138.8Mlive
Borrowed $41.7M
4 chains
Immutable, governance-minimized CDP dollar.
TVL $71.1Mlive
Borrowed -
1 chain
Credit pool funding market-maker inventory.
TVL $30.9Mlive
Borrowed $17.0M
7 chains
Institutional credit desk concentrated on Arbitrum.
TVL $21.6Mlive
Borrowed -
4 chains
Omnichain money market via LayerZero.
TVL $585.9Klive
Borrowed $217.7K
4 chains
Curated competitor relationships across Credit tags.
Onchain institutional / private credit.
TVL $2.50Blive
Borrowed $1.76B
2 chains
Context-setting competitors outside the EVM DeFi scope: named for completeness, not tracked, not clickable.
62.25% share of tracked CeFi lending, Q1 2026
7.02% CeFi market share Q1 2026
Loan book grew $90.04m in Q1 2026, distributes Steakhouse-curated Morpho USDC lending to retail
Contracted 21% in Q1 2026
Historically third-largest CeFi lender
Loan books fell 6% QoQ to $23.3bn in Q1 2026, first contraction since Q3 2024
Roughly $3.2bn TVL, the main non-EVM benchmark
Drove Solana past $2.1bn of active loans in May 2026
Prime engine covers roughly 98% of Solana lending TVL
Pick up to 3 same-tag peers. Metric values are snapshot figures as of 2026-07-27.
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Tag cohort plotted on two selectable axes. Risk composite comes from the M7 documented-risk derivation and is only defined for rated entities; it is a documented-risk load, not a safety score, and is never compared across tags.
