GSR launched Hare, a desk that curates onchain credit vaults, built with Turtle. GSR commits $100M, mostly as a multi-year credit line that anchors the first deposits.

The first two vaults, coming soon, run on Aave: Hare USD Earn takes major dollar stablecoins, and Hare Gold Earn pays yield on Paxos’ tokenized gold, PAXG and PAXGy. Paxos Labs, Chainlink and Hypernative also back the launch. “Issuers get liquidity from day one, and allocators see GSR’s own capital in the same vaults as theirs,” says Hare CEO Connor Milner, formerly of Re7 Capital.

Vault curators now manage about $8.6B across 788 vaults, per Vaults.fyi data cited by CoinDesk.

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