Lenders earn yield from interest paid by borrowers. Borrowers deposit collateral assets into Euler's credit markets and borrow loans against their collateral. For detail on this vault’s curator and risk parameters, see link.

Description from vault manager:

The Steakhouse USDM vault is built on top of Mountain Protocol USDM, a regulated yield-bearing stablecoin. The vault allows USDM holders to earn additional yield by lending against blue chip crypto and real world asset (RWA) collateral markets.

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