Updated 2026-10-19 16:53 UTC
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USD.AI USDai / sUSDai

NAV per vault share
Tokens outstanding
90-day APY
Active loans
Loans outstanding
Governing law

USDai is minted 1:1 against PYUSD; sUSDai is the vault token that finances GPU and AI-infrastructure loans. USD.AI has $574.9M tokens outstanding, and one sUSDai is worth 1.1197 USDai.

90-day APY

DefiLlama

Tokens outstanding

sUSDai vault assets$555.0MVault contract
USDai outside the vault$19.9MIssuer contract list
Tokens outstanding$574.9MIssuer contract list

Loan book

BorrowerSourceOutstanding
Hydra HostIssuer announcement$54.4M
NexGen CloudIssuer announcement$31.2M
Crucible CapitalIssuer announcement$22.4M
QumulusAIIssuer announcement$14.9M
QumulusAISEC filing$14.1M
CorvexSEC filing$7.3M
QumulusAISEC filing$3.4M
Compute LabsIssuer loan document$398,940
Exited
Duos Edge AISEC filingSold to Axe Compute, Inc. on September 30, 2026

A borrower is named only when an SEC filing, a loan document linked from the collateral token, or an issuer announcement names it. Balances are read from the loan router contract. Collateral: USD.AI Tokenized Hardware (0xb31F…0c5D)

Regulatory structure

As of 2026-10-17
IssuerUSD.AI Foundation
Issuer jurisdictionCayman Islands (foundation company)
Governing lawCayman Islands
DeveloperPermian Labs
Who can investPrimary mint and redemption: KYC-verified authorized market makers and institutional depositors onboarded by USD.AI Foundation. Holding, transferring and staking USDai: any wallet.
RestrictionsNot available to persons located in or nationals or residents of a sanctioned country, or listed on a U.S. (OFAC), Cayman Islands or other restricted-party list

Contracts

Issuer contract list