USD AI - Protocol Analytics

USD.AI is a yield-bearing synthetic dollar protocol focused on financing AI infrastructure through real-world assets (RWA) lending. The protocol introduces USDai, a fully-backed synthetic dollar designed for liquidity and instant redemption, and sUSDai, its yield-bearing counterpart backed by collateralized loans to AI infrastructure operators such as GPU providers. Yield is generated through overcollateralized loans secured by income-producing hardware, with idle capital allocated to U.S. Treasury Bills for base yield. Targeting 10–15% APR, USD.AI combines structured credit mechanisms, bankruptcy-remote SPVs and onchain default auctions to mitigate risk. Developed by Permian Labs and backed by leading crypto investors, the protocol is live with hundreds of millions in total value locked and tens of thousands of users.