Monetrix USDM
Monetrix is the first fully on-chain funding-driven yield-bearing stable token, native to Hyperliquid
TVL history
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TVL by chain
Key facts
- Category
- Basis Trading
- Chains
- 1
- Token
- —
- Oracles
- —
- Audits
- None listed
- Listed
- Jun 2026
Similar Basis Trading protocols
How this TVL is counted
TVL is the USDC collateral backing USDM: USDC held by the MonetrixVault and RedeemEscrow on HyperEVM plus the protocol's Hyperliquid Core account equity (delta-neutral spot + short-perp positions, HLP and borrow-lend balances), read on-chain from the MonetrixAccountant (totalBacking), which marks Core positions to market via Hyperliquid precompiles. USDC still in the pre-launch Genesis Vault is also counted and migrates into the main vault as users mint USDM. Staked USDM (sUSDM), the insurance fund (funded from skimmed yield) and undistributed yield are excluded. The HYPE-denominated mxHYPE vault is tracked separately under Monetrix mxHYPE.
Frequently asked questions
What is Monetrix USDM’s TVL?
Monetrix USDM has $2.81M in total value locked, -4.21% over the last 7 days. TVL is the value of the crypto locked in its smart contracts.
Which chains is Monetrix USDM on?
Monetrix USDM runs on 1 chain; the most value sits on Hyperliquid L1 ($2.81M).
What kind of protocol is Monetrix USDM?
Monetrix USDM is listed under Basis Trading, where it ranks #23 by TVL.
Data aggregated from public third-party market sources. For informational purposes only — not investment advice.