[Crypto Market Maker GSR Invests $100 Million to Launch On-Chain Vault Business Hare, Focuses on On-Chain Credit] According to CoinDesk, crypto trading and market maker GSR will invest $100 million to develop a new on-chain credit business called Hare. This initiative is jointly built by GSR and liquidity distribution platform Turtle, primarily responsible for creating and managing on-chain Vaults. GSR's multi-year investment will mainly be provided in the form of credit lines and serve as anchor liquidity for Hare products, deploying its own funds ahead of external investors. Hare will initially launch two products based on Aave: - Hare USD Earn allows users to deposit major USD stablecoins into a unified Vault to earn yields. - Hare Gold Earn offers yield products for holders of Paxos' tokenized gold, PAXG and PAXGy, with Paxos Labs participating in the collaboration.