Just went through USDai, a stablecoin back by GPU hardware

a few things about @USDai_Official that actually caught my eye:
USDai is minted through GPU hardware collateral,
– $475M TVL already, but only ~$8M active loans (Team target $105M near term + $1.5B next year)
Stake USDai for sUSDai to earns yield from both treasury returns and GPU loan interest.
– ~6.6% APY on sUSDai
That yield is ultimately tied to stablecoin denominated loans backed by GPU hardware (B200s, H200s, B300s, etc.).
→ So if the AI infra buildout continues, this becomes yield sourced from compute demand
Team launching $CHIP as governance token, used for
– vote on GPU collateral, interest rates, fees, treasury policy.
– capital allocation: buyback, revenue sharing..
6.6% APY is pretty high for stablecoin but it’s not attractive enough for a new kind of stablecoin backed by AI narr.
But still worth watching if the TVL grow and more Defi integration.