v0 previewGrades are draft or provisional: produced under Methodology v0.2.1 from public evidence, pending re-verification and issuer right-of-reply. Nothing here is investment advice, and these are not credit ratings.
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Steakhouse USDC (Morpho)

Steakhouse Financial (curator) · Curated stablecoin lending vault · Ethereum · as of 2026-07-11

PILOT COVERAGE (Ring 1). Flagship blue-chip-collateral USDC vault from an A+-graded curator (per CuratorWatch) that avoided the Stream complex. Included to demonstrate vault-module scoring; allocation snapshot needs refresh before publication.

B+
76.1
provisionalconf medium
Haircut: 15.5%
base 10% (B+) x 1.25 (medium confidence) + 3pp class + 0pp flags
Illustrative — not a margin requirement.
Collateral quality78 · 25%
Majors-dominated collateral markets historically; verify current allocation. [1]
Exit liquidity75 · 20%
Idle buffer + deep market liquidity typical; snapshot needed. [1]
Concentration70 · 15%
Multi-market allocation; issuer-concentration moderate. [1]
Oracle risk72 · 15%
Standard oracle stack on allocated markets; per-market review pending. [1]
Curator track record82 · 15%
No Stream exposure; multi-year track record across ~79 products. [1]
Transparency & governance80 · 10%
Public strategy docs and reporting. [1]
What would change this grade: Allocation drift toward exotic yield-dollar collateral or oracle-hardcoded markets would cut Collateral Quality and Oracle Risk.
Live price

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Model signals
Not yet computed

The quantitative signal layer (stress-tested loss distributions, peg/leverage/backing metrics) is in development — see pivot/08_QUANT_ENGINE_SPEC.md. When live, signals are computed continuously by a model; grades are always signed by the analyst. The two are shown separately and never conflated.

Evidence appendix
Collateral quality: [1]
Exit liquidity: [1]
Concentration: [1]
Oracle risk: [1]
Curator track record: [1]
Transparency & governance: [1]
As of 2026-07-11 · Methodology v0.2.1