Bankless · Thursday, July 30, 2026
Comparing Steakhouse's role to Aave and Yearn, Adrian Cachinero clarifies that Steakhouse focuses on optimizing the efficiency of underlying borrow/lend markets rather than solely maximizing yield. He notes that both Aave and Steakhouse are governed, with processes for onboarding collateral and mechanisms to mitigate their own counterparty risk, though Aave's governance is token-holder based while Steakhouse incorporates depositor veto power.
“When you're describing the role of steakhouse in the vault space, it seems very close, very overlapping, very congruous to both Aave and Yearn? Because Aave has to do some sort of risk management with like onboarding collateral, like whether it's in an isolated market or, you know, a cross margin collateral that, you know, that that's a governance decision. And then also, also your role is to optimize for yield so that depositors maximize their yield, lenders pay, pay the minimum or, or receive them, receive the most of borrowers pay the minimum. And so it seems like it's, it's some sort of intersection between both Yearn and Aave. How accurate do you think that is? And there is, is there any, any fix, any changes you would add to that, to that comparison?”
“No, I think it's a fair comparison. But I would, not to speak for Aave, I would say in Aave's case and in our case, because we are operating borrow land markets or what we would call repo markets, it's not necessarily about optimizing for yield more. It's more about optimizing for efficiency of the underlying borough, borough and markets, if that makes sense.”
“Um, but yes, both, both of them are, uh, governed. You could say that other labs is the curator of other, if you want. Right. Uh, they have a governance process for onboarding new collateral.”