GSR Commits Up to $100 Million for Hare’s On-Chain Vaults
The crypto trading firm will mainly provide credit to fund Hare, which is partnering with Turtle to create and manage the vaults.
GSR has committed up to $100 million to fund Hare, a new business that will develop on-chain vaults with liquidity platform Turtle.
The commitment will come mainly through credit facilities. GSR will also provide anchor liquidity for the vaults as Hare and Turtle build and manage the products.
Hare’s initial offerings will be supported by Aave lending protocols. Investors will be able to use major U.S. dollar stablecoins and Paxos’ tokenized gold product to access yield through the vaults.
The arrangement combines GSR’s trading and liquidity operations with Turtle’s infrastructure for on-chain products. The first vaults are planned around lending-based strategies.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.