[GSR Commits $100 Million to Collaborate with Turtle on On-Chain Credit Business Hare] BlockBeats News, October 7: Crypto trading and market-making firm GSR has committed $100 million to collaborate with liquidity distribution platform Turtle to develop the on-chain credit business Hare, which will be responsible for creating and managing on-chain vaults. This multi-year funding commitment will primarily be provided in the form of credit lines. GSR will initially inject its own capital into the Hare product as seed liquidity before external investors participate. Hare will first launch two products based on the Aave lending protocol: - Hare USD Earn, which will accept major USD stablecoins through a single vault. - Hare Gold Earn, which will allow holders of Paxos tokenized gold products, PAXG and PAXGy, to earn yields. Paxos Labs will collaborate on the gold product offerings. Vault managers will allocate assets deposited into smart contracts to lending markets and other strategies. Hare CEO Connor Milner stated that the funds committed by GSR will be deployed directly, ensuring issuers have liquidity from day one, and investors can see GSR's own capital pooled alongside theirs in the same vault. Hare will focus on evaluating collateral, counterparties, and the performance of related positions under market stress. [Original Link]