What is USD.AI (CHIP)

I. Project Introduction

1. What Is USD.AI?

USD.AI ($CHIP) is a permissionless lending protocol designed to provide financing for AI infrastructure. The protocol enables GPU operators to tokenize their hardware as collateral to obtain instant liquidity, while depositors earn yields from real interest payments. Utilizing a dual-token model consisting of USDai and sUSDai, USD.AI provides AI operators with innovative liquidity channels while expanding access to GPU-backed lending.

2. How Does USD.AI Operate?

The core products and features are as follows:

1) USDai: A low-risk, fully collateralized synthetic dollar that is instantly redeemable at any time. Users can deposit USDC or USDT for USDai at a 1:1 ratio (the latest version utilizes PYUSD at a 1:1 ratio). Unstaked USDai does not generate native yield but accrues Allo™ points.

2) sUSDai: A yield-bearing token obtained by staking USDai. It earns yields from GPU-backed loans, T-bills, and Allo™ points. Users can utilize sUSDai across various DeFi protocols to enhance returns while maintaining liquidity.

3) Borrow & Loan: A liquidity pool of USDC/USDT formed by user-minted stablecoins (currently converted into PYUSD reserves) is used to provide loans to AI enterprises, using GPUs as collateral. This generates interest for stablecoin holders. The USDai lending system is built on the CALIBER framework, which tokenizes physical AI hardware into NFTs to enable on-chain collateralization.

3. Who Created USD.AI?

1) David Choi: Builder at Permian Labs and core contributor to USD.AI. Previously an investment banking analyst at Deutsche Bank; growth equity experience at Pontifax Global Food and Agriculture Technology Fund; and analyst at ArtAssure Ltd. He is a graduate of the University of Southern California (USC).

2) Conor Moore: Core contributor to USD.AI and co-founder of Permian Labs. Previously a private equity manager at Rockpoint; investment banking analyst at Eastdil Secured; and investment banking summer analyst at Deutsche Bank and Signal Hill Capital. He is a graduate of the University of Maryland.

3) Ivan Sergeev: Builder at Permian Labs. Previously an FPGA engineer at DRW; software engineering consultant at Nuand; and hardware engineering consultant at Kumu Networks. He holds a Master’s degree in Electrical Engineering from MIT.

Funding Information:

- Nov 17, 2025: Permian Labs, the developer of USD.AI, secured investment from Coinbase Ventures.

- Sept 23, 2025: Digital asset trading platform Bullish (NYSE: BLSH) announced a $4 million investment in USD.AI.

- Aug 26, 2025: YZi Labs announced an investment in USD.AI; the specific amount remains undisclosed.

- Aug 14, 2025: Developed by Permian Labs, the GPU-collateralized stablecoin protocol USD.AI completed a $13 million Series A funding round led by Framework Ventures, with participation from Bullish, Dragonfly, Arbitrum, and others.

4. USD.AI Tokenomics

The total supply is 10 billion $CHIP tokens, allocated as follows:

Ecosystem Bootstrapping (27.5%): The initial 10% was distributed during Season 1 (Allo Game). The remaining portion will fund future USD.AI growth initiatives.

Reserves (19.5%): Reserved for future grants, partnerships, and R&D.

Core Contributors (23.5%): 33% unlocks at the 12th month, with the remaining 67% linearly released over the following 24 months.

Investors (29.6%): 33% unlocks at the 12th month, with the remaining 67% linearly released over the following 24 months.

Token Utility: $CHIP is the utility and governance token of the USD.AI protocol. $CHIP holders can vote on parameters governing the protocol, determining hardware eligibility for collateral, structuring interest rate tiers for different assets, setting and distributing protocol fees, and expanding the scope of collateral over time.

5. Timeline & Key Milestones

- Aug 19, 2025: Official launch of USD.AI

- Aug 20, 2025: USD.AI completed its $13 million Series A funding round led by Framework Ventures.

- Aug 20, 2025: USD.AI launched the Allo Game publicly, allowing users to earn Allo points by minting or staking USDai to determine participation in ICO allocations or airdrops.

- Jan 27, 2026: USD.AI announced the establishment of the USD.AI Foundation, with the plan to launch the governance token, $CHIP.

- April 21, 2026: Official launch of the $CHIP token.​

II. Token Information

III. Related Links

Socials：https://x.com/USDai_Official

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.