“GPU lending is not just a niche sector. It’s a replacement of all credit in technology.”
Tech companies are becoming AI companies.
AI companies spend on compute.
Compute spend goes to GPUs.
Collateral base will shift for tech credit: less SaaS ARR, more GPUs.
QEV is a MEV-style market for sUSDai redemptions where urgency pays patience.
As more sUSDai is deployed into GPU-backed loans, APY moves higher, but less capital sits idle.
When liquidity is scarce, urgent exits bid for speed.
Patient holders earn from that demand.
USDAI does not lend against promises.
It lends against installed, verified, cash-generating GPUs.
@0xZergs breaks down USDAI’s underwriting and risk management process on the @Decentralisedco podcast.
USDAI is a financing vehicle for the AI capex boom: a tradable, GPU-backed debt product onchain.
- USDai: the stablecoin, used for payments like loan settlement and interest payments
- sUSDai: the yield product, used to fund the AI buildout
@_ConorMoore on @CoinDesk Live
"An overnight success that took five years"
@_ConorMoore at @CoinDesk Live on finding pmf: blockchain rails make loan origination and settlement atomic, neoclouds needed capital that tradfi couldn't move fast enough to provide, and the AI boom brought both together.
Big improvement to USDAI:
(1) removes implicit trust assumptions for OEMs / borrowers that USDAI will actually fund a loan
(2) does not compromise strict underwriting requirements to never fund until servers are installed
(3) creates a pocket of additional yield to sUSDai in the process
happy to explain what we do!
note that $USDai and $sUSDai is different to $CHIP holders
we are active in many defi protocol such as on Pendle and Fluid, where folks are able to earn yield from GPU mortgages.
getting a loan for a GPU is hard because there's no debt instrument. to give a crypto-native metaphor, its sorta like wstETH and ETH staking, before you had a "liquid derivative" your assets were just stuck
can chat this live if youd like to convince you that this is something tradfi hasn't and cant solve with their legacy financial tools