Total Value Locked$245,762
TVL by Chain
Hyperliquid L1$245,762
Key Metrics
Fees 30d$51
Fees 30d by chain
Hyperliquid L1$51
Fees 7d$36
Hyperliquid L1$36
Fees 24h$25
Hyperliquid L1$25
Cumulative Fees$51
Hyperliquid L1$51
Revenue 30d$7.61
Revenue 30d by chain
Hyperliquid L1$7.61
Revenue 7d$5.38
Hyperliquid L1$5.38
Revenue 24h$3.82
Hyperliquid L1$3.82
Cumulative Revenue$7.61
Hyperliquid L1$7.61
Protocol Information
mxBTC is the BTC-denominated product in the Monetrix system. It works the same way as USDM and mxHYPE, with UBTC in place of USDC or HYPE
Methodology
TVL: TVL is the net collateral backing mxBTC, read on-chain from BtcAccountant.totalBackingSigned in 8-decimal UBTC units: UBTC in the BtcVault and RedeemEscrow on HyperEVM plus the Vault's HyperCore spot, supplied collateral and perpetual account equity, net of borrow liabilities. The accountant converts non-BTC equity to UBTC using HyperCore prices. smxBTC receipt tokens, the protocol-owned insurance fund, instant-exit buffers and undistributed yield in YieldEscrow are excluded. Only the current deployment is tracked; USDM and mxHYPE are separate Monetrix products.View code on GitHubFees: Settled yield from mxBTC's HyperCore funding strategy after borrowing and trading costs, converted to UBTC and measured at distribution, plus instant redeem/unstake fees; excludes unsettled strategy income.View code on GitHubRevenue: The foundation's share of settled mxBTC yield plus instant redeem/unstake fees, valued in UBTC.View code on GitHubCompetitors
Monetrix mxBTC history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Oct 19, 2026 to Oct 27, 2026.
All-time high TVL: $339,082 on Oct 22, 2026. All-time low TVL: $243,925 on Oct 27, 2026.
Daily TVL, Oct 19, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| Oct 19, 2026 | $328,030 |
| Oct 20, 2026 | $330,607 |
| Oct 21, 2026 | $336,438 |
| Oct 22, 2026 | $339,082 |
| Oct 23, 2026 | $265,901 |
| Oct 24, 2026 | $265,598 |
| Oct 25, 2026 | $266,253 |
| Oct 26, 2026 | $244,276 |
| Oct 27, 2026 | $243,925 |
TVL at each month end, Oct 2026 to Oct 2026
| Date | TVL |
|---|---|
| Oct 27, 2026 (latest) | $243,925 |
Fees and revenue by UTC calendar month, Oct 2026 to Oct 2026
| Month | Fees | Revenue |
|---|---|---|
| Oct 2026 (to date) | $76 | $11.43 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/monetrix-mxbtc
Frequently asked questions
What is Monetrix mxBTC's TVL?
As of Oct 27, 2026, Monetrix mxBTC has $245,762 in total value locked.
What chains does Monetrix mxBTC operate on?
Monetrix mxBTC operates on Hyperliquid L1. Hyperliquid L1 holds the largest share at 100%.
How much has Monetrix mxBTC generated in fees and revenue?
Over the past 30 days, Monetrix mxBTC generated $51 in fees. Of that, $7.61 was protocol revenue. Based on the trailing year, the annualized rate is $2,327 in fees and $347.21 in revenue.
How does Monetrix mxBTC's TVL compare to similar protocols?
Among Basis Trading protocols tracked by DefiLlama, Monetrix mxBTC ranks #31 by TVL. The category holds $7.568b across 41 protocols, and Monetrix mxBTC accounts for <0.1% of that total. Similar protocols include Liminal Basis, Monetrix USDM, Monetrix mxHYPE, Ethena USDe, Falcon Finance, BitFi Basis, Solv Basis Trading, Solstice, Aster USDF, and Tori Finance.