Leading DeFi (decentralized finance) platform Summer.fi has announced the launch of support for Steakhouse Metamorpho Vaults, enhancing the way users access yield for their crypto assets.
MetaMorpho is a permissionless risk curation protocol on top of Morpho Blue, a novel trustless lending protocol integrated by Summer.fi in January 2024.
Curated on-chain opportunities with a dual engine
Metamorpho Vaults are curated by Steakhouse Financial, a leading crypto-native boutique consultancy firm and a strategic advisor to Morpho Blue.
Steakhouse curates multiple stablecoin and ETH vaults, underpinned by blue-chip RWA (real-world asset) and crypto collateral alike an approach the team refers to as ‘dual engine.’
Steakhouse Metamorpho Vaults offer Morpho rewards for deposits in USDC, ETH, WBTC, USDT and PYUSD, with USDC and ETH deposits also earning additional wstETH rewards.
This integration caters to individuals looking for passive, all-weather lending opportunities across different market cycles.
Steakhouse curates available Morpho Blue markets, aiming to provide access to yields above the risk-free rate for stablecoins and competitive ETH yields.
Morpho Blue is a novel DeFi primitive whose modular architecture offers a differentiated proposition relative to other monolithic, vertically integrated, lending protocols.
How it works
Users interested in taking advantage of these opportunities can visit Summer.fi and access Steakhouse opportunities on the ‘Earn’ tab to choose their preferred vault and deposit using any available stablecoin or with any LST for the ETH vault, users will be able to move their positions from existing lending protocols like Compound or AAVE to take advantage of these new yield offerings.
Unique to Summer.fi, users will be able to track their earnings-to-date and view a 30-day yield average, a feature not offered by any other platform.
Deposits into Metamorpho Vaults function through a seamless integration with the ERC4626 standard yield-bearing token.
New users will need to create a DeFi Smart Account while existing users can utilize their current account for deposits.
Steakhouse Metamorpho Vaults mark another significant milestone in the quest to make DeFi more accessible to all, and also towards Summer.fi’s goal of becoming the primary platform for DeFi lending and borrowing a cornerstone of the evolving ecosystem.
About Morpho
Morpho is a decentralized protocol enabling the overcollateralized lending and borrowing of crypto assets (ERC20 tokens) on the Ethereum Virtual Machine.
Morpho provides users with secure, efficient and flexible lending infrastructure.
The latest protocol, Morpho Blue, is implemented as an immutable smart contract, engineered to serve as a trustless base layer for lenders, borrowers and applications.
About Steakhouse
Steakhouse Financial serves as a strategic advisor to Morpho Blue and operates as a curator for MetaMorpho Vaults that combine RWAs and crypto collateral.
Steakhouse’s mission is to contribute to the building of an open and transparent financial system.
Their services include financial reporting, RWA management, transition planning for DAOs and strategic advice.
Steakhouse works with leading projects like MakerDAO and LidoDAO.
About Summer.fi
Summer.fi is a platform for DeFi. It can be used to borrow stablecoins against users’ favorite cryptocurrencies, increase exposure against them using ‘multiply’ or earn a competitive yield.
This can be done across multiple protocols and layers all in one place.
Summer.fi’s mission is to provide the most trusted entry point to deploy capital into DeFi.
The team is made of passionate thinkers and builders driven to create a better user experience for all while being able to maximize returns.
Contact
Summer.fi, press
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