The RWA dollar backed by working GPUs.
$ZERYV is a yield-bearing real-world-asset stablecoin on Robinhood Chain — collateralized by enterprise H200/B200 clusters under contracted offtake. Compute rental cash flow, not emissions, funds the yield. Lien-filed, insured, attested on-chain every 24h.
You receive
01 — The gap
AI infrastructure became a trillion-dollar debt market. On-chain, it barely exists.
$7T+
AI infrastructure debt projected outstanding by 2029 — second only to US mortgages (SemiAnalysis)
$11B+
already lent against GPUs off-chain — BlackRock, Pimco, Carlyle — incl. an $8.5B facility rated A3
110bps
where AAA GPU-ABS tranches now price, down from ~1,300bps in 2023. The asset class institutionalized
<0.1%
of it is investable on-chain today. That is the gap $ZERYV opens — as native RWA on Robinhood Chain
02 — Mechanism
Rack-mounted collateral.
Contract-priced cash flow.
The underwriting discipline of the investment-grade GPU facilities — contracted offtake, never spot rates — minted as a dollar on Robinhood Chain.
STEP 1
Deposit → mint
USDC enters a bankruptcy-remote SPV. ~30% sits in short-term U.S. Treasuries as the instant-liquidity tier; ~70% finances GPU purchase agreements at 70–80% LTV with vetted AI-cloud operators.
STEP 2
GPUs earn revenue
Financed H200/B200 clusters run inference and training under 24–36 month take-or-pay offtake. Operators repay monthly at ≥1.3× debt-service coverage; every unit carries a UCC-1 lien and insured custody.
STEP 3
Stake → NAV accrues
Staking mints an ERC-4626 vault token whose exchange rate rises as financing payments settle. No rebases, no emissions — amortized hardware cash flow, net of a disclosed protocol spread.
03 — Reserve
$41.2M NAV,
marked daily.
Independent validators attest hardware existence, utilization and revenue. Attestation hashes publish to Robinhood Chain every 24 hours; misreporting is slashable.
1.3–1.5×
Over-collateral
≥1.3×
Min DSCR
24h
Attestation
11.9%
Blended gross
GPU financing — inference fleets · H200 · 3 operators · 24–36mo amortizing
$19.3M · 14.1%
GPU financing — training capacity · B200 · sovereign-AI offtake · first-loss covered
$9.6M · 16.8%
U.S. Treasury bills · 0–3 month ladder · instant-liquidity tier
$12.3M · 4.21%
Proof-of-reserve feed · epoch 14
View attestations→04 — The fleet
1,912 GPUs. Serial-numbered, lien-filed, at work.
| Cluster | Hardware | Site | Units | Util. | $/GPU-hr | Monthly net | Status |
|---|---|---|---|---|---|---|---|
| RH-CBS-14 | NVIDIA H200 SXM | Columbus, OH | 640 | 93.3% | 2.71 | $830,304 | ATTESTED 5H |
| RH-OSA-06 | NVIDIA H200 SXM | Osaka, JP | 640 | 94.5% | 2.71 | $771,783 | ATTESTED 5H |
| RH-BKK-05 | NVIDIA H200 SXM | Bangkok, TH | 640 | 92% | 2.54 | $738,577 | ATTESTED 4H |
| RH-CBS-11 | NVIDIA H200 SXM | Columbus, OH | 640 | 94.6% | 2.38 | $711,332 | ATTESTED 3H |
4 of 128 registered clusters · serial-level custody receipts in the registry
Verified deployment
Robinhood Chain mainnet.
Built for real-world assets.
Arbitrum Orbit L2 · settles to Ethereum · Chainlink-oracled · compliance at the protocol level. A hardware-backed dollar belongs on the chain built for RWA.
05 — Where the yield sits
Hardware cash flow,
not points.
H100 rental rates fell 60–75% from their 2023 peak. That is exactly why we underwrite amortizing financings against contracted take-or-pay offtake — never spot-market rates.
Staked $ZERYV
GPU financing + T-bill blend · attested daily
9.6%
On-chain GPU-financing peers
realized net APY band, 2026
10.2–10.5%
Platform stablecoin yield (USDG)
Robinhood Earn benchmark
≈7.0%
3-month T-bill
risk-free reference
4.21%
30-day trailing · net of protocol spread · past performance ≠ future yield
06 — Live flow
Minted, staked, redeemed — as it settles.
| Type | Wallet | Amount | Tx | When |
|---|---|---|---|---|
| MINT | 0x2714…d1cf | $1,370.53 | 0x0ff930…a96b04 | 42s ago |
| STAKE | 0x6cbc…75a4 | $13,528.50 | 0xe04595…1dc45c | 1h ago |
| MINT | 0x5bdc…0997 | $689.90 | 0x84a550…158d89 | 3h ago |
| REDEEM | 0x1940…0e53 | $275.23 | 0x0fca9b…a457cc | 3h ago |
| MINT | 0x654d…7d9d | $535.31 | 0xcd0600…bb5438 | 4h ago |
| STAKE | 0x162d…c326 | $884.48 | 0xe2eb4a…65279d | 4h ago |
| STAKE | 0xc24e…1127 | $9,141.82 | 0xd52fd4…1ccfa9 | 4h ago |
07 — FAQ
Asked, answered, filed.
What happens if an operator defaults?+
Financings are over-collateralized 1.3–1.5× with UCC-1 liens on the hardware. First-loss capital absorbs the initial writedown; the fleet is remarketed through contracted channels. The T-bill sleeve is unaffected.
How do I verify the GPUs exist?+
Every cluster publishes serial-level custody receipts and a daily attestation hash on Robinhood Chain. Validators reconcile telemetry against invoices monthly and are slashed for false attestation.
Why Robinhood Chain?+
It is the exchange-operated Arbitrum Orbit L2 purpose-built for real-world assets — Chainlink oracles, protocol-level compliance, Ethereum settlement. A hardware-backed dollar belongs on the chain built for real assets.
How fast can I exit?+
Unstaked tokens redeem T+7 against the T-bill sleeve. Staked positions carry a 30-day cooldown that mirrors the underlying financing amortization — redemption liquidity is scheduled cash flow, not a promise.
GPU prices keep falling. Doesn't that kill the yield?+
Rental spot prices fell 60–75% in two years — which is why nothing here is underwritten to spot. Yield rides contracted take-or-pay offtake at ≥1.3× coverage, amortizing to zero hardware residual over the loan term.
RWA yield · Robinhood Chain