---
title: "Steakhouse USDG (steakUSDG) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/steakusdg-steakhouse/"
description: "Build-time stablecoin profile for Steakhouse USDG (steakUSDG). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-10-02"
---



# Steakhouse USDG (steakUSDG)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

steakUSDG is a Steakhouse-curated Morpho Vault V2 receipt over USDG, with lending interest reflected in assets per share. Holders redeem to the underlying token through idle balances and a selected liquidity adapter, so withdrawal capacity depends on available market liquidity. The immutable core requires deposited assets for user minting, but fee-share issuance and strategy losses can change each holder’s claim. Morpho flags new deposits as disabled while existing holders retain a working redemption path. Parent-token reserve protections remain upstream, and no exact-vault signed financial reconciliation or funded stressed-recovery guarantee was established.

## Collateral

USDG held idle in the exact Morpho VaultV2 and supplied through its sole MorphoMarketV1 adapter; borrower collateral and market liquidity determine strategy risk.

## Peg Mechanism

ERC-4626 shares represent a proportional USDG-denominated lending position. Interest and fee-share accrual change assets per share; bad debt reduces NAV. Holder withdrawals burn shares and pay USDG atomically when idle assets plus the selected liquidity adapter suffice.

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| robinhood | `0xbeeff033f34c046626b8d0a041844c5d1a5409dd` | 18 |

## Live Data

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