๐ข Major crypto market maker GSR is committing $100 million (primarily as a credit facility) to launch a new on-chain business called Hare.
Hare will build and manage on-chain credit vaults in partnership with Turtle. The main goal is to bridge institutional capital with decentralized finance (DeFi) infrastructure.
At launch, there will be two investment vaults built on the architecture of the popular lending protocol Aave:
- A pool for deploying leading dollar stablecoins to generate yield.
- A joint product with Paxos Labs that will, for the first time, allow holders of tokenized gold (PAXG and PAXGy) to earn passive interest yield on their assets.
According to Hare CEO Connor Milner, the $100 million from GSR acts as anchor liquidity. This ensures the vaults operate smoothly from day one and signals to external allocators that GSR is risking its own capital in the same pools.
The launch of Hare highlights the surging demand for on-chain credit and tokenized real-world assets (RWA). The smart contract industry for wealth management is expanding rapidly; as of July, roughly $8.6 billion was already locked in such vaults.
In a broader context, this move demonstrates how traditional institutional market makers are transitioning from simple crypto speculation to building complex credit products directly on the blockchain, replacing classic bank risk-management departments with software code.
#CRYPTO #RWA #BLOCKCHAIN #DEFI $PAXG $AAVE $TURTLE
Hare will build and manage on-chain credit vaults in partnership with Turtle. The main goal is to bridge institutional capital with decentralized finance (DeFi) infrastructure.
At launch, there will be two investment vaults built on the architecture of the popular lending protocol Aave:
- A pool for deploying leading dollar stablecoins to generate yield.
- A joint product with Paxos Labs that will, for the first time, allow holders of tokenized gold (PAXG and PAXGy) to earn passive interest yield on their assets.
According to Hare CEO Connor Milner, the $100 million from GSR acts as anchor liquidity. This ensures the vaults operate smoothly from day one and signals to external allocators that GSR is risking its own capital in the same pools.
The launch of Hare highlights the surging demand for on-chain credit and tokenized real-world assets (RWA). The smart contract industry for wealth management is expanding rapidly; as of July, roughly $8.6 billion was already locked in such vaults.
In a broader context, this move demonstrates how traditional institutional market makers are transitioning from simple crypto speculation to building complex credit products directly on the blockchain, replacing classic bank risk-management departments with software code.
#CRYPTO #RWA #BLOCKCHAIN #DEFI $PAXG $AAVE $TURTLE