GSR invests $100 million to collaborate with Turtle to launch on chain credit business Hare

Cryptocurrency trading and market making institution GSR has committed to investing $100 million to collaborate with liquidity distribution platform Turtle to build on chain credit business Hare, responsible for creating and managing on chain vaults. GSR will provide funds in the form of credit lines and invest its own funds as initial liquidity. Hare will launch Hare USD Earn and Hare Gold Earn products based on Aave, and Paxos Labs will participate in the gold product cooperation. Hare CEO Connor Milner stated that the funds promised by GSR will be deployed directly, providing liquidity to the issuer, and investors can see that GSR's own funds are in the same vault as its own funds.