2026-07-14Epoch report
Epoch 13 report: 91.4% fleet utilization, NAV $1.0005
Thirteen epochs in: every financing current, utilization steady above 90%, and the first B200 tranche fully amortizing. Full serial roster and validator signatures inside.
Blog
Field notes.
Epoch reports, underwriting notes and protocol updates from the Zeryv desk.
2026-06-30Underwriting
Why we underwrite to offtake, not to GPU spot prices
H100 rentals fell from $7–10/hr to $2–4/hr in two years. Our reserve never noticed — because nothing in it is priced off spot. A walk through take-or-pay coverage math.
2026-06-12Transparency
Reading a GPU custody receipt, line by line
Serial numbers, UCC-1 filings, insurance riders, attestation hashes — what each field means and how to reconcile a receipt against the on-chain registry yourself.
2026-05-27Market
The $7 trillion question: AI infra debt goes mainstream
SemiAnalysis projects AI infrastructure debt exceeding $7T by 2029. What investment-grade GPU securitization means for on-chain RWA — and where a stablecoin fits.
2026-05-09Protocol
Launching on Robinhood Chain: why the RWA-native L2
Chainlink oracles, protocol-level compliance, Ethereum settlement — and an exchange-scale user base. The reasoning behind our chain choice, trade-offs included.
Full posts publish with each epoch close · epoch reports are hash-anchored on-chain