---
title: "Steakhouse USDC V2 (steakUSDC) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/steakusdc-steakhouse/"
description: "Build-time stablecoin profile for Steakhouse USDC V2 (steakUSDC). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Steakhouse USDC V2 (steakUSDC)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** CeFi-Dependent

**Status:** active

## Overview

a {{term:yield-bearing}}yield-bearing{{/term}} Morpho ERC-4626 vault share over USDC, priced by borrower interest rather than by Circle reserves. Steakhouse USDC is a Morpho Prime Instant vault share over USDC, making it a DeFi lending wrapper rather than a new fiat issuer. Pharos uses ERC-4626 proof to validate the vault asset and classifies the risk around lending liquidity rather than around Circle reserve quality alone.

## Collateral

USDC deposited into a Steakhouse-curated Morpho vault that allocates across Morpho lending markets backed by blue-chip crypto and real-world asset collateral

## Peg Mechanism

ERC-4626-style Morpho vault shares appreciate against USDC as borrower interest accrues; withdrawals redeem vault shares for available USDC liquidity or wait for Morpho market liquidity to return

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xbeef088055857739c12cd3765f20b7679def0f51` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/steakusdc-steakhouse.