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Vault notes

How Deg Finance talks to the Steakhouse USDG vault. Settlement is on Robinhood Chain, chain ID 4663.

What this desk is

Deg Finance is a front for one public Morpho vault. You deposit USDG. You receive steakUSDG in the same wallet. You withdraw USDG, or redeem every share, when you want cash back. Deg Finance does not hold your coins.

The vault

Steakhouse USDG is Morpho Vault v2 at 0xBeEff033F34C046626B8D0A041844C5d1A5409dd, curated by Steakhouse Financial. Morpho app: steakhouse-usdg. Explorer: Blockscout.

USDG

Global Dollar, six decimals, at 0x5fc5360D0400a0Fd4f2af552ADD042D716F1d168. That is the asset the vault takes in and pays back. steakUSDG is the receipt.

Network

Robinhood Chain is an Arbitrum Layer-2. Gas is ETH. Public RPC: rpc.mainnet.chain.robinhood.com. Explorer: robinhoodchain.blockscout.com. The app will switch your wallet to chain ID 4663, or add it if it is missing.

Wallet

Use an injected wallet you already hold the key for. The app requests accounts, chain switch, balances, allowance, and signatures. It does not create a contract wallet, does not ask for a seed, and does not move coins to an address you cannot sign.

Deposit

First deposit usually needs an approve so the vault can pull USDG. Then you call deposit. Shares (steakUSDG, 18 decimals) arrive in the same address. Share price starts a little above 1 and drifts as interest accrues.

Withdraw and redeem

Withdraw a USDG amount, or redeem every share so nothing dusty is left. Redeem burns the full share balance. Both pay USDG back to the wallet you connected.

Rate

Net APY is read live from Morpho. It is not a coupon. Borrow demand on the vault's markets sets it. The landing page and the desk both pull the same GraphQL feed.

Liquidity

You can only take out USDG the vault can pay at that moment. If borrowers have it, the transaction waits. That is how Morpho Vault v2 works; Deg Finance does not invent a queue on top.

Robinhood Earn

Robinhood's in-app Earn product is a separate brokerage flow. This site talks to the public Morpho vault. The two are not the same product.

Risks

• APY can fall, including stretches near zero.
• A withdraw can stall if the vault is short on USDG.
• Morpho, USDG, and the curator can fail or change.
• If Global Dollar breaks, steakUSDG is a claim on that asset.

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