Conor Moore

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Conor Moore

Conor Moore

@_ConorMoore

building @usdai_official

NYC Katılım Aralık 2020
1.8K Takip Edilen1.9K Takipçiler
Conor Moore
Conor Moore@_ConorMoore·
There’s a big opportunity to create a REIT for GPUs, lever it with 70-80% asset level debt (from @USDai_Official ofc) and passively buy clusters and let savvy asset light operators run them in exchange for performance fees / upside. REIT also takes equity warrants in the operator. Big gap in the market for the last 20-30% equity tranche of gpu clusters (“last mile” funding). Name of the game here is to get one anchor capital source to write a 200-500m check (lever up to 2.5bn in assets) and move fast af to get to pub markets w/ atm shelf that you tap whenever trading at a premium to nav (which will likely be the case for awhile if you move fast bc this kind of exposure doesn’t exist elsewhere). My guess is Blackstone will do it in ~24 months so that’s your window of opportunity
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Conor Moore
Conor Moore@_ConorMoore·
Another install close to wrapped up, ahead of schedule
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Osero
Osero@OseroHQ·
Osero has raised $13.5M, led by @SkyEcosystem and @Plasma. We're building the savings account for where your stablecoins already are.
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Milk Road
Milk Road@MilkRoad·
USDAI is tokenizing the AI capex supercycle. $USDAI is a GPU-backed debt product that lives onchain as a financing vehicle for the infrastructure buildout powering AI right now. Here's how the two-token structure works: - $USDAI: the stablecoin layer. Handles loan settlement, interest payments, day-to-day transactions. - $sUSDAI: the yield token. Capital that flows directly into funding AI infrastructure. The collateral backing it is the GPUs themselves. It's a new onchain asset class that didn't exist six months ago: Tokenized compute debt that is tradable and composable inside DeFi. FT @_ConorMoore @CoinDesk @USDai_Official
Milk Road@MilkRoad

USDAI is a helluva concept for a stablecoin! It's basically designed to generate yield by making loans to scale data centers. Here's a simplified breakdown of how it all works (save this): Think of it like a bank that only gives loans to GPU farms... 1/ You deposit $USDC or $USDT and get $USDAI back at a 1:1 ratio. 2/ If you want yield, you stake that $USDAI and receive $sUSDAI. 3/ Your money gets lent to AI companies who put up their GPUs as collateral. 4/ When those companies pay interest on their loans, that yield flows back to $sUSDAI holders. $USDAI is your stable dollar (no yield, instant redemption) while $sUSDAI is the yield-bearing version with a roughly 30-day redemption queue (because the underlying loans aren't instantly liquid). There's also $CHIP for governance if you want to vote on protocol parameters. $sUSDAI's yield is currently sitting around 7.15% APR with targets of 10-15%. These businesses are leasing compute power and paying interest on hardware loans. It's basically mortgage-backed securities for AI hardware, but onchain. And there've already been $345M+ in deposits, with 73k users, and $236M in active loans. If you believe AI compute demand is only going up, this is one way to get exposure without buying $NVDA stock or running your own data center.

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Conor Moore
Conor Moore@_ConorMoore·
Servers shipped, installation underway. Much quicker turn on this cluster than I expected!
Conor Moore tweet media
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Conor Moore
Conor Moore@_ConorMoore·
Big improvement to USDAI: (1) removes implicit trust assumptions for OEMs / borrowers that USDAI will actually fund a loan (2) does not compromise strict underwriting requirements to never fund until servers are installed (3) creates a pocket of additional yield to sUSDai in the process
USD.AI@USDai_Official

x.com/i/article/2049…

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Conor Moore
Conor Moore@_ConorMoore·
@ipopflop @0xZergs @USDai_Official No, I’m under NDA, but I’m going to have a 3rd party audit firm review all of our insurance and loan docs to provide an attestation report we can share publicly. Already under way.
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flopipop
flopipop@ipopflop·
@_ConorMoore @0xZergs @USDai_Official Thanks for the detail. But Munich Re's own case studies (2025-074, 2025-097) say aiSure reimburses Barker "up to 50% of any shortfall" — your back-to-back framing implies ~95%. Can you share docs that reconcile these, ideally issued by Munich Re?
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Conor Moore
Conor Moore@_ConorMoore·
@ipopflop @0xZergs @USDai_Official It’s a back to backed policy, munichre reinsures the whole thing, barkr has to put up some first loss capital which is passed back to us as a fee paid upon claim (ie 85% insured but 5% fee so net 80%).
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flopipop
flopipop@ipopflop·
Love the USDAI direction, but the insurance claims are being oversold. Barker is a tiny Miami startup — they're on the hook for 50% of any valuation shortfall themselves. Munich Re reinsures the other 50% via aiSure, but that's a reinsurance relationship with Barker, not a direct guarantee to lenders. The whole chain runs through a company that raised $3.5M.
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Conor Moore retweetledi
Digital Asset Yield Summit
Digital Asset Yield Summit@Yield_Summit·
We are thrilled to welcome @_ConorMoore, Co-Founder and COO at @USDai_Official, as a speaker to the Digital Asset Yield Summit stage. Before building at the frontier of onchain credit, Conor spent his career in the deepest parts of traditional structured finance, deploying $5 billion in real estate and infrastructure investments at Rockpoint Group and structuring complex transactions at Wells Fargo Securities and Eastdil Secured. He brought that TradFi credit expertise onchain to found @USDai_Official, a yield-bearing synthetic dollar backed by loans against AI hardware assets, with over $1.2 billion in approved facilities and a Series A backed by Framework Ventures and Dragonfly. It's one of the most compelling cases for what real-world asset yield looks like when built natively onchain from day one. Digital Asset Yield Summit is the ultimate forum for capital allocators to discover the latest advancements in digital asset yield. Every attendee is reviewed. Every session is relevant. Every introduction is intentional. Catch Conor at the stage, May 4
Digital Asset Yield Summit tweet media
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Stephen | DeFi Dojo
Stephen | DeFi Dojo@phtevenstrong·
The expected APY of sUSDai is 12.17%. @USDai_Official is finally going from being a wrapped TBILL to becoming an AI-aligned, GPU-backed lending stablecoin protocol. And they already have >$600M in dealflow. Let me explain where that 12% expected comes from: Currently, USDai is 87% backed by PYUSD and 13% backed by GPU loans. The 87% gets the risk-free-rate (tbill yield) and the 13% gets between 10% and 15% depending on the loan. USDai has a max utilization of ~80% which means 80% of the PYUSD can be deployed into loans. At max utilization/deployment (20% PYUSD / 80% GPU Loans) the yield would be ~12%. But these loans can't happen in the snap of a finger. The loans can't be originated until chips are installed and they're third-party verified. However, there's already 64M escrowed which is about 18% of the TVL awaiting finalization. That alone should push the APY up a few percentages. Anywho, I have no affiliation with USDai, but I think this development is incredible and they definitely have PMF at the moment. Love to see it.
Stephen | DeFi Dojo tweet mediaStephen | DeFi Dojo tweet media
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Conor Moore
Conor Moore@_ConorMoore·
i feel very fortunate that the only competitor to @USDai_Official has been entrenched through regulatory capture and not competed in the free market since 2008. the french are sending their best cavalry to fight the german machine gunners
Kam 🌑@KamBenbrik

JPMorgan’s 2026 shareholder letter - 1st part about threats to the business: ‘A whole new set of competitors is emerging based on blockchain, which includes stablecoins, smart contracts and other forms of tokenization’ The largest bank in the US now sees crypto-native infrastructure as a direct competitive threat

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Conor Moore
Conor Moore@_ConorMoore·
in december 2025 b300s were selling for ~475k per server (all in). opus 4.6 came out feb 5th, skyrocketing demand for tokens. anthropic ARR 3x'ed, as did the ARR of the inference providers. now in april 2026, just 4 months later, we're seeing b300 servers sell for 625k+ per server, up 30%. the timing lag btwn token demand and hardware costs presents major opportunity for operators with capital to move quickly on purchase orders. gpu rental is a commodity business - 30% is the difference between success and failure. @USDai_Official is the only capital source solely dedicated to gpu financing in the world. if youre in the gpu business, hit my line.
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MLO
MLO@__MLO_·
What's USDAI's Pitch "US housing industry is a $42 trillion industry making it the largest asset class in the world. It became the largest because it developed mortgages" "GPUs is everything for AI. And is the most amount of money we'll be spending in the entire world on any asset class" "There's no mortgage rate for GPUs which is what we are trying to invent"
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Meltem Demirors
Meltem Demirors@Melt_Dem·
1/ excited to share Crucible now slings compute - financed onchain with a loan from @usdai_official ofc Crucible Compute is our first step into owning the means of production while investing in the modernization of underlying systems and tools optimizing their utilization
Meltem Demirors@Melt_Dem

x.com/i/article/2041…

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brexton
brexton@brexton·
Compute-backed credit lines are the next frontier for fixed income and will quickly turn into one of the largest asset classes on the planet
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Conor Moore
Conor Moore@_ConorMoore·
@parkeraedwards was the first person we spoke to who really "got it", when USD.AI was in its infancy. we've come a long way and still have a long way to go to fully realize the vision. grateful for the support!
Milk Road@MilkRoad

You can now earn yield backed by GPUs sitting in data centers. USDai is doing over-collateralized lending against compute hardware - "real income generating" assets. AI infrastructure is becoming a DeFi asset class. Wild! @parkeraedwards

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Keşfet

@USDai_Official @OseroHQ @SkyEcosystem @Plasma @CoinDesk @ipopflop @0xZergs @consensus2026