weETH Proposed as Collateral in Steakhouse Prime Morpho Vaults
weETH Proposed as Collateral in Steakhouse Prime Morpho Vaults
š weETH collateral expansion
weETH has been proposed as eligible collateral in Steakhouse Finance's Prime Morpho vaults for both ETH and USD lending markets.
Background on the lending mechanism:
- Powered by Morpho and Steakhouse (same teams behind Coinbase's lending)
- Uses Steakhouse's "Prime USDC" strategy
- Borrowers post Bitcoin or Ethereum collateral to borrow USDC
- Collateral is liquidated if its value falls below threshold
Key considerations:
- Interest rates fluctuate based on market demand (can exceed 5% or drop lower)
- Withdrawals available anytime
- Carries inherent risks: strategy risk, smart contract bugs, liquidation mechanism failures
The proposal expands collateral options in what's positioned as one of the safer lending strategies available in DeFi.
weETH has been proposed as eligible collateral in @SteakhouseFi Prime Morpho vaults across ETH and USD lending markets Learn more below ā
New Onboarding: weETH from @ether_fi. Steakhouse proposes onboarding weETH as eligible collateral for Steakhouse Prime Morpho vaults, across ETH and USD lending markets. Full proposal on the Morpho forum: forum.morpho.org/t/weeth-collatā¦
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