USD.AI AutoVaults to Launch on Arbitrum on August 18

Foresight News reports that, according to official sources from USD.AI, USD.AI's AutoVaults will launch on Arbitrum on August 18.

As previously reported by Foresight News, USD.AI, a stablecoin protocol providing credit to AI, has completed a $13 million Series A funding round led by Framework Ventures, with participation from Bullish, Dragonfly, Arbitrum, and others. Developed by Permian Labs, USD.AI issues loans to artificial intelligence companies using graphics processing unit (GPU) hardware as collateral. The on-chain system includes the USD-pegged token USDai and the yield-bearing token sUSDai, which is backed by income-generating computational assets. During its private testing phase, USD.AI secured $50 million in deposits and plans to publicly launch an ICO and a game-based distribution model.