4 天前
USDai is a DeFi protocol that funds AI compute infrastructure, GPU clusters, data centers used for training and running AI models
>Issues a synthetic dollar USDai, backed by loans secured against AI hardware, and @m0 US T-Bills; current APR 13.03%
>Vision: Enable AI infrastructure funding faster by using DeFi rails instead of traditional banks
Let's break down all core features, revenue, risks, and token🧵:
Revenue Model
>Interest payments on active GPU-backed loans, generating about 6–20% APY
>Underwriting, admin fees for loan origination, and risk management
>Main yield comes from @m0 US T-Bills. In the future, most funds will be deployed to hardware loans
>Token Governance: Protocols can “bribe” USDai with better APY to get more liquidity directed their way
USDai Token
>Acts as governance token, directing liquidity via gauge-weighted voting
>Backstops solvency as an equity layer in defaults
>Receives a share of protocol cash flow (interest, bribes)
>Enables project incentives by letting DeFi Protocols bribe token holders for debt allocation
Risks
>The 70% LTV cap ensures lenders are protected if GPU prices fall (safety cushion, insurance, backup tokens)
>On-chain repossession and insurance funds prevent bad debt and delays
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