USDaiCHIP

The project operates an overcollateralized stablecoin (USDai) that generates yield by providing liquidity to emerging AI companies with real-world hardware collateral. Users can stake USDai to earn sUSDai, which provides real yield backed by AI infrastructure investments and can be used across DeFi protocols for additional returns.

The protocol utilizes the CALIBER system (Collateralized Asset Ledger: Insurance, Bailout, Evaluation, and Redemption) to tokenize physical hardware collateral into verifiable on-chain assets with enforceable property rights. It operates through bankruptcy-remote SPVs, equity down payments, and FiLo vaults that create multiple lines of defense for token holders, while managing illiquid collateral through market-driven mechanisms like QEV (Queue Extractable Value) rather than first-come-first-served redemptions.

USDai is a decentralized stablecoin protocol developed by Permian Labs that bridges traditional finance with AI infrastructure lending.