# USD.AI — The Dollar That Builds AI

USD.AI is a protocol for onchain capital markets that finance modern AI compute. The protocol issues USDai, a fully-backed synthetic dollar, and sUSDai, its yield-bearing staked form. Deposits are directed into GPU-backed lending markets, so holders earn yield from the growth of AI infrastructure while GPU operators borrow against it to build datacenter compute. USD.AI's position: the dollar that scales AI, wherever compute forms.

## Products

- **USDai** — a fully-backed synthetic dollar (stablecoin), minted against reserves.
- **sUSDai** — yield-bearing staked USDai. Deposits earn a share of protocol yield and accrue Allo points.
- **CHIP** — the governance and utility token.
- **sCHIP** — staked CHIP.
- **GPU Financing** — GPU-collateralized loans that let datacenter operators finance a GPU fleet; repayment is secured by the underlying hardware.

## How yield works

Deposits flow into lending markets where GPU operators borrow against collateralized hardware. Yield accrues to sUSDai stakers. Allo points are earned per season and track early participation and capital deployment; they can be valued against a projected fully-diluted valuation (FDV) of CHIP.

## Key metrics

Live figures (TVL, NAV, yield, points, liquidity) are on the gpu.credit pages below and in the JSON endpoints under "Machine-readable data".

## USD.AI GPU loans (as of 2026-11-02)

- Publicly documented financings: 20 (9 with a named borrower, 11 not disclosed)
- Committed: $531.4M; funded: $296.8M
- Sold through GLX: 1 (Duos Edge AI); arranged through GLX: 1 (NexGen Cloud, Finland)
- USD.AI is the most active lender in the Compute Middle Market.
- Source: https://gpu.credit/loans
- How it's counted: https://gpu.credit/loans#methodology
- CSV: https://gpu.credit/loans.csv

## Compute Middle Market (as of 2026-11-02)

- Publicly announced GPU-backed financings of $500M or less since January 2023: 41, totalling $4.71B, from 20 named lenders (USD.AI included)
- Median deal: $65.0M
- Most active lender by number of deals: USD.AI, 20 financings, $531.4M
- Updates: USD.AI rows are checked against the USD.AI app weekly and against USD.AI's blog, press releases and SEC filings daily; other deals as announced
- Corrections: marketing@usd.ai
- Source: https://gpu.credit/compute-middle-market
- How it's counted: https://gpu.credit/compute-middle-market#methodology
- CSV: https://gpu.credit/compute-middle-market.csv

## The analytics dashboard (gpu.credit)

gpu.credit is the public analytics dashboard for USD.AI. It renders live protocol data client-side:

- **Home** (`/`) — live headline figures (sUSDai APY, TVL, realized price, next withdrawal window, GPU loans, loans in reserves) and links to every tool.
- **Points calculator** (`/points`) — estimate Allo points, points/day, and dollar value for any wallet address or yield position, with a live global leaderboard.
- **Loop tracker** (`/loops`) — sUSDai leverage loops across Pendle, Fluid, and Morpho markets, showing multiplier, LP APY, points-per-dollar, and net ROI per loop.
- **Liquidity** (`/liquidity`) — active DEX liquidity pools for sUSDai and USDai: pool TVL, volume and depth by venue, and the sUSDai market price against its mint and realized prices.
- **Queue** (`/queue`) — the sUSDai redemption queue on Arbitrum: requests waiting, the next redemption window, and past payouts. Redemptions pay the realized price on payout day: sUSDai's value counting only interest that has actually been paid, so it rises when borrower payments arrive. (`/exit` redirects here.)
- [Loans](https://gpu.credit/loans): History of publicly announced USD.AI GPU loans: borrower (where public), amount, hardware, location, rate, status and sources.
- [Compute Middle Market tracker](https://gpu.credit/compute-middle-market): Every publicly announced GPU-backed financing of $500M or less since 2023, from every lender: borrower, lenders, amount, hardware, collateral and sources.
- **sUSDai** (`/susdai`) — mint and realized NAV and the spread between them, yield (APY) history, supply growth, holder distribution by network and protocol, loan-book utilisation, and best sell prices on DEXs. (`/dashboard` redirects to `/liquidity`.)

## Machine-readable data

The dashboard reads from a live JSON API; the same endpoints are directly consumable by any client or AI agent:

- `https://api.usd.ai/usdai/dashboard` — TVL history.
- `https://api.usd.ai/usdai/dashboard/tvl` — current TVL and reserve breakdown.
- `https://api.usd.ai/usdai/public/total-allo` — total Allo points.
- `https://api.usd.ai/usdai/wallets/leaderboard` — global points leaderboard.
- `https://api.usd.ai/usdai/wallet/{address}` — per-wallet points state.
- `https://api.usd.ai/usdai/wallet/rates?address={address}` — yield and points multipliers by venue.

A machine-readable snapshot of the key figures is also available at `https://gpu.credit/summary.json`.

Note: TVL values are returned as 18-decimal integers (wei); divide by 1e18 to convert to whole units.

## Links

- Website: https://usd.ai
- App: https://app.usd.ai
- Borrower login: https://borrow.usd.ai/loans
- Documentation: https://docs.usd.ai
- GitHub: https://github.com/metastreet-labs
- Dune: https://dune.com/entropy_advisors/usdai-usdai
- Analytics dashboard: https://gpu.credit

## Backers

Coinbase Ventures, DCG, Dragonfly, Framework, NVIDIA Inception, PYUSD.