Earn
USDG yield on Robinhood Chain — with the incentives separated from the real lending revenue.
Steakhouse USDG (Robinhood Earn)
Steakhouse Financial · Morpho · USDG
6.30%
Underlying yield source
USDG deposits are lent through Morpho markets to borrowers who post more collateral than they borrow. Borrower interest is the base rate. Incentive rewards (distributed via Merkl) top it up — and can end at any time.
Withdrawal considerations
Withdrawals are usually instant, but depend on market liquidity — if most deposits are lent out, you may need to wait for repayments or new deposits before exiting.
Risks
- Smart-contract risk in the vault and underlying markets.
- Lending risk: if collateral crashes faster than liquidations, lenders can take losses.
- 43% of today's yield is incentives that can end without notice.
- Not a bank deposit. Not insured. Availability varies by jurisdiction.
Where does this yield come from?
1. You deposit USDG
Your stablecoins go into a vault curated by Steakhouse Financial. The vault spreads deposits across vetted Morpho lending markets.
2. Borrowers pay interest
Traders and institutions borrow your USDG against collateral worth more than the loan. The interest they pay is the base yield — real revenue, not token emissions.
3. Incentives top it up
Ecosystem programs add reward tokens on top to attract deposits. That part is marketing budget, not lending revenue — treat it as temporary.
Arrow lists opportunities by data reliability, not by highest APY. One opportunity is tracked today; more USDG markets will be added once their data meets the same bar. Informational only — Arrow doesn't take deposits.