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.

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Risk curators

Steakhouse Financial

# Steakhouse Financial Average revenue per user (ARPU) Methodology

## 1. Overview

Average revenue per user (ARPU) is defined as the daily revenue generated per active user over a fixed 24-hour window for Steakhouse Financial. This metric is utilized to reflect the protocol's ability to monetize individual active users on a daily basis across its curated vaults, specifically within the Morpho Vault Curation and Kamino Vault Curation products. By dividing daily protocol revenue by active users (daily), insights are provided into user value, monetization efficiency, and the overall financial health of the curated vault offerings.

## 2. Data sources

- **Revenue**: Derived from the Revenue metric
- **Active users (daily)**: Derived from the Active users (daily) metric

## 3. Step-by-step calculation

### Component A: Daily active user retrieval

- **Purpose**: Retrieve the active users (daily) (daily) for the project.
- **Logic**: active users (daily) are extracted from the upstream Active users (daily) metric. The project-level dimension is selected to represent the total unique users interacting with any Steakhouse Financial curated vault on a given day.
- **Key fields**: `timestamp`, `user_dau`

### Component B: Daily revenue aggregation

- **Purpose**: Aggregate daily protocol revenue.
- **Logic**: Daily revenue values are retrieved from the upstream Revenue metric. These values are summed across all chains and products, including Morpho Vault Curation and Kamino Vault Curation, to calculate the total daily protocol revenue.
- **Key fields**: `timestamp`, `revenue`

### Component C: Average revenue per user calculation

- **Purpose**: Calculate the final average revenue per user.
- **Logic**: The total daily protocol revenue is divided by the active users (daily) for each corresponding day. A safe division function is applied to prevent division-by-zero errors, ensuring that the average revenue per user is set to zero on days with no active users.
- **Key fields**: `timestamp`, `arpu`

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

Steakhouse Financial

Average revenue per user (ARPU)

Average revenue per user (ARPU)

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