CHIP

USD.AI is a protocol that provides non-dilutive financing to AI infrastructure operators by issuing loans backed by GPU assets and their cashflows. It creates a two-sided credit market where borrowers can access capital to scale compute infrastructure, while depositors gain exposure to real yield derived from AI compute economics rather than token incentives.

The system works by allowing depositors to supply stablecoins to mint USDai, a fully-backed synthetic dollar, and then stake it to receive sUSDai, which accrues yield. This yield is generated from two main sources: interest paid by borrowers using GPU-backed loans and returns from Treasury bills on idle capital, with gains reflected through the exchange rate between USDai and sUSDai.

Governance is managed through the CHIP token, which allows participants to vote on key protocol parameters such as collateral eligibility, interest rate structures, and fee allocation. This ensures both borrowers and capital providers have a say in shaping the risk framework and economic design of the protocol.