Kraken, the cryptocurrency exchange, has begun trading CHIP, the governance token of the USD.AI lending protocol, and is accepting deposits and orders on its platform.
USD.AI is a permissionless lending protocol designed to finance artificial intelligence infrastructure by tokenising GPU hardware as collateral and using it to underwrite onchain loans.
Depositors supply capital to the protocol and earn yield from interest generated by GPU-backed lending, while borrowers use tokenised hardware assets to access financing without traditional intermediaries.
The protocol operates a dual-token model consisting of USDai, a stablecoin used within the lending system, and sUSDai, a staked variant that accrues interest.
CHIP serves as the governance and staking token of the broader USD.AI ecosystem, giving holders the ability to vote on protocol parameters, approve curators and stake in the insurance module that backstops the lending pool.
Kraken said funding is available through its Funding tab, with deposits required on networks supported by the exchange.
The company warned that deposits made using unsupported networks will be lost.
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Trading via the Kraken App and Instant Buy features will open once liquidity conditions are met, and geographic restrictions may apply.
Kraken reiterated that it does not disclose potential asset listings before launch and directed users to its Listings Roadmap and social media profiles for future announcements.
The recap
- Kraken opened trading for CHIP cryptocurrency on its exchange.
- Deposits must use Kraken-supported networks or tokens will be lost.
- App and Instant Buy enablement depends on liquidity conditions.
