# Kamino Vault Curation Expenses Methodology

## 1. Overview

Expenses is defined as the total cost incurred by Steakhouse Financial to operate Kamino Vault Curation. This metric includes token incentives distributed to vault participants and traditional operating expenses related to infrastructure or service providers. For Kamino Vault Curation, the metric is currently set to zero. No token incentives are distributed to vault users, and no operational costs or revenue-sharing expenses are attributed to this specific product. Cross-product aggregation details are contained within the project-level methodology.

## 2. Data sources

- **None**: This metric is set to a constant value and does not consume blockchain instructions for this product.

## 3. Step-by-step calculation

### Component A: Expense recognition

- **Purpose**: To define the cost basis for curated vaults on the Kamino program
- **Logic**: Expenses are hardcoded to zero for the Kamino Vault Curation product. This is reflected by the absence of token incentive distributions and the lack of attributed infrastructure or revenue-sharing costs for the curated vaults.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total project operating and incentive expenses.

Expenses

Risk curators

Steakhouse earns performance fees on the yield generated within their curated vaults. Depositors supply capital to Steakhouse-curated vaults, which deploy it into selected lending markets. The curator fee is taken as a percentage of gross vault yield, with the remainder passed through to depositors as supply-side fees.

Steakhouse Financial operates as a risk curator, offering vault products across multiple DeFi lending protocols. They curate yield strategies for institutional and retail depositors, managing risk parameters, collateral selection, and allocation across vaults.

Steakhouse Financial is a blockchain-focused financial services company that provides institutional-grade DeFi infrastructure and advisory services for the emerging stablecoin economy.

Kamino Vault Curation

Expenses

Expenses

Chain breakdown