USD.AI developer Permian Labs receives investment from an exchange
ChainCatcher reported that the stablecoin protocol USD.AI, which provides credit for AI, announced that a certain exchange's Ventures has invested in Permian Labs.
Permian Labs develops and maintains the USD.AI protocol, aiming to facilitate secure on-chain lending operations collateralized by verifiable productive assets. USD.AI also issues the stablecoin USDai and the yield-bearing sUSDai, which support the protocol.
Headquartered in New York, Permian Labs is dedicated to on-chain credit protocols for financing productive computational assets. The team builds legal, technical, and risk foundations to support the collateralization, initiation, and servicing of GPU-backed credit positions through verifiable on-chain mechanisms.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Data: Several tokens experience a surge followed by a pullback, LUNA drops over 14%
Ride-hailing giant Grab and StraitsX jointly explore building a Web3 wallet and a stablecoin-based settlement layer
This week's NFT trading volume fell by 5.06% to $79.48 million.
Trending news
MoreCrypto prices
More
