GSR backs Turtle’s onchain vault push with up to $100M

Crypto trading and market-making firm GSR plans to work with liquidity platform Turtle on an onchain vault business called Hare, with up to $100 million set to be deployed, CoinDesk reported. Most of GSR’s funding is expected to be provided as credit and used as initial liquidity in Hare vaults. Hare initially plans to offer Hare USD Earn, which pays interest on deposits of major dollar-pegged stablecoins through the Aave lending protocol, and Hare Gold Earn, which uses Paxos’ tokenized gold products PAXG and PAXGy.