Can the new AI force become the next Golden Dog—Analysis of CHIP on the Gain List

Recently, the meme coin CHIP has shown a "promising upward trend," with a maximum intra-day increase of over 100% last night, and major leading exchanges have been densely announcing the launch of its spot or contract trading, making it one of the few market hotspots. After careful analysis, Xiao Caishen found that this is also a token with an AI narrative, so will it replicate the big rise of the "predecessor" SIREN? Let’s take a look together.

USD.AI (CHIP): The Financial Engine for AI Infrastructure Financing
(1) Project Positioning and Core Logic
USD.AI is a crypto protocol focused on AI infrastructure financing, and CHIP is its governance and functional core token. Against the backdrop of explosive growth in global AI computing power demand, high-performance hardware such as GPUs has become the backbone of AI development. However, traditional financial institutions are cautious about financing infrastructure operators due to the rapid iteration and short depreciation cycles of GPUs, resulting in a significant funding gap. USD.AI targets this pain point by using a native DeFi credit framework to convert AI infrastructure assets into on-chain financial products as collateral, providing flexible and efficient financing channels for computing hardware like GPUs.

(2) Token Functions and Ecosystem Roles
The CHIP token plays multiple key roles within the USD.AI ecosystem. In governance, CHIP holders have voting rights to participate in risk parameter setting, whitelist management, fee distribution mechanisms, and overall GPU collateralized loan market decisions, jointly shaping the protocol’s development direction. Functionally, CHIP can be staked to earn protocol fee rewards, but if the system faces a deficit, stakers may bear certain penalty risks. This mechanism incentivizes user participation and reinforces the ecosystem’s risk-sharing awareness.

USD.AI’s ecosystem consists of three participant types: depositors, borrowers, and curators. Depositors can mint USDai (a synthetic dollar stable asset) and stake it as sUSDai to earn yields; borrowers are mainly AI infrastructure operators who obtain GPU financing through the protocol; curators provide first-loss capital, participate in risk structure design, and enhance the robustness of the credit system. The CHIP token acts as the "nerve center" of the ecosystem, coordinating interests and system operation.

(3) Current Development Status and Market Outlook

Since its official launch in 2026, USD.AI has attracted market attention with its innovative model. The project disclosed it has over $1.5 billion in potential financing pipelines and plans to initiate the first batch of approximately $100 million GPU collateralized loans in Q1 2026. Additionally, the project has received investments from well-known institutions such as Framework Ventures, Dragonfly, Coinbase Ventures, and has partnered with Chainlink and PayPal’s PYUSD ecosystem, further enhancing market recognition.

From a yield perspective, USD.AI aims to provide users with an annualized return of 10% to 15%. Its on-chain GPU collateralized loan model is expected to standardize, increase liquidity, and enable continuous pricing in the AI infrastructure credit market, breaking the opacity and low liquidity issues of traditional private credit. However, this model relies on the coordinated operation of credit review, collateral recovery, liquidity management, and governance mechanisms, making it relatively complex and demanding high project execution capabilities. Investors should pay attention to related risks.