SILICON YIELD
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Testnet previewBulletin Nº 07 · September 2026

The Central Bank
of AI Compute.

Deposits fund GPUs. AI agents rent them by the millisecond and pay in USDC over x402. That rent comes back to you as yield, on Base.

Try the vault preview →How it works
Value locked
—
APY
—
GPUs
—

Simulated figures · Base Sepolia · no real funds move.

Fig. 1 — the mark, assembling

“A bank lends money it doesn't have. We rent silicon that we do.”
— from the founding minutes

§ 01 — Monetary policy

Three lines, no fine print.

Most yield in crypto is someone else's leverage. Ours is rent paid by software that needs to think.

Plate A — capital, before it hardens
I.

Deposits become silicon.

USDC you put in the vault doesn't sit in a lending pool waiting for a leverage trader. It buys and leases GPUs — real cards, racked in real halls, with serial numbers we will publish.

Plate B — the settlement grid
II.

Agents pay by the millisecond.

An AI agent hits our endpoint, gets a 402, pays in USDC over x402 and gets compute. No account, no API key, no monthly invoice. The meter runs in milliseconds because that's how machines think.

Plate C — where the money settles
III.

The yield is the rent.

What agents pay, minus power, colocation and depreciation, flows back to depositors. No emissions, no points, no farm token. If the GPUs sit idle, the yield goes down. That's the whole trick.

  1. 01 Vault
    USDC in
  2. 02 GPU fleet
    H200 · B200
  3. 03 Agents
    pay per ms, x402
  4. 04 Yield
    back to depositors

Capital goes in on the left and comes back along the bottom arc. Every square on the line is a job someone's agent paid for. The big lime ones are the long jobs.

§ 02 — Settlement tape · simulated live

402 is the new 200.

Agents don't sign up. They ask for compute, get quoted a price in plain HTTP, pay it in USDC and carry on. Each row is one job.

$ curl -i /api/compute?ms=500

HTTP/1.1 402 Payment Required
{
  "x402Version": 1,
  "accepts": [{
    "scheme": "exact",
    "network": "base-sepolia",
    "maxAmountRequired": "320",   // 0.00032 USDC
    "description": "Reserve 500 GPU-ms"
  }]
}
Play the agent →Raw endpoint (JSON)
Agents paying today
—
GPU-ms settled
Simulated recent agent payments over x402
AgentJobSiliconDurationPaid (USDC)Tx
§ 03 — Reserve report

The reserve is racked.

Central banks keep gold in vaults. We keep GPUs in data halls. Every card is listed by site, model and live utilisation, so you can check the reserve instead of taking our word for it.

Blueprint-style floor plan of a data hall
Plate D — hall layout, IAD-2
By siteutilisation, simulated live
IAD-2
Ashburn, VA
512 × B200
85.0%
FRA-3
Frankfurt
384 × H200
85.0%
AMS-1
Amsterdam
256 × H200
85.0%
SIN-1
Singapore
192 × H100
85.0%
PAR-1
Paris
128 × MI355X
85.0%
LAX-4
Los Angeles
96 × B200
85.0%
Depreciation
36 mo.
Price / GPU-hr
$2.30
To depositors
28%
§ 04 — The film

Fifteen seconds, no voice-over.

.mp4 ↓ 6 MB
§ 05 — Minutes of the Monetary Committee
Session 07 · held on Base
Approved

The committee noted that the machines are awake and they are hungry. Every week more agents are born with a wallet and a task and no way to pay for thinking except a human's credit card.

The committee further noted that there is a great deal of idle stablecoin on Base earning yield from other people's leverage, which is fine until it isn't.

It was therefore resolved to put the two together: let deposits buy silicon, let silicon bill the machines, and let the machines' rent become the yield. The rate is decided by demand for compute and nothing else.

Motion carried. The meter starts now.

§ 06 — Questions from the floor

FAQ

Is this live?

Not yet. The vault runs on Base Sepolia (testnet) while audits finish, and every number on this site comes from the protocol simulator. No real funds move. Mainnet opens when the Monetary Committee says so, and not a block earlier.

Where does the yield actually come from?

Inference fees. Agents pay per GPU-millisecond in USDC. After operating costs, about 28% of gross fees reach depositors. The dashboard shows it second by second.

Why x402?

Because agents don't have credit cards. x402 revives HTTP 402 Payment Required: the server names a price, the client signs a USDC transfer and retries. It settles on Base in about two seconds.

What happens when GPUs get old?

They depreciate over 36 months, and that cost comes out before the yield, not after. Retired cards are sold, and the proceeds go back to the vault.

Is there a token?

There's USDC in and USDC out. If we ever launch a token, you'll read it in the Minutes first.