Logo of Monetrix mxHYPEMonetrix mxHYPE
Total Value Locked$1.7m

TVL by Chain

Hyperliquid L1$1.7m

Key Metrics

Fees 30d$1,825
Fees 30d by chain

Hyperliquid L1$1,825

Fees 7d$717

Hyperliquid L1$717

Fees 24h$0

Hyperliquid L1$0

Cumulative Fees$1,825

Hyperliquid L1$1,825

Revenue 30d$254.93
Revenue 30d by chain

Hyperliquid L1$254.93

Revenue 7d$107.89

Hyperliquid L1$107.89

Revenue 24h$0

Hyperliquid L1$0

Cumulative Revenue$254.93

Hyperliquid L1$254.93

Protocol Information

HYPE-denominated yield vault on Hyperliquid. Deposited HYPE backs a borrowed-USDC delta-neutral overlay on Hyperliquid Core; yield is converted back to HYPE before distribution to smxHYPE stakers

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Category:Basis Trading

Methodology

TVL: TVL is the native HYPE collateral backing mxHYPE: HYPE held by the HypeVault and RedeemEscrow on HyperEVM plus the HypeVault's Hyperliquid Core account equity, read on-chain from the HypeAccountant (totalBackingSigned) and denominated in HYPE. Staked mxHYPE (smxHYPE) is a receipt token and is not counted separately. The protocol-owned insurance fund is excluded. The USDC-denominated USDM vault is tracked separately under Monetrix.View code on GitHubFees: Yield generated by mxHYPE's borrowed-USDC overlay on Hyperliquid Core, measured in HYPE at distribution via the HypeVault's YieldDistributed event, plus instant redeem/unstake fees paid by users.View code on GitHubRevenue: Share of distributed yield routed to the foundation, plus instant redeem/unstake fees. The insurance-fund share is booked as supply-side revenue because it backstops the system.View code on GitHub

Yields

Pools Tracked1

Average Supply APY1.64%

Competitors

Liminal Basis ($23.79m)Monetrix USDM ($2.54m)Ethena USDe ($4.6b)Falcon Finance ($1.175b)Solstice ($235.01m)BitFi Basis ($231.28m)Solv Basis Trading ($190.95m)Avant avUSD ($128.67m)Aster USDF ($116.02m)Bitwise USCC ($111.75m)

Frequently Asked Questions

What is Monetrix mxHYPE's TVL?

Monetrix mxHYPE currently has $1.7m in total value locked.

What chains does Monetrix mxHYPE operate on?

Monetrix mxHYPE operates on Hyperliquid L1. Hyperliquid L1 holds the largest share at 100%.

How much has Monetrix mxHYPE generated in fees and revenue?

Over the past 30 days, Monetrix mxHYPE generated $1,825 in fees. Of that, $254.93 was protocol revenue. Based on the trailing year, the annualized rate is $31,720.24 in fees and $4,430.93 in revenue.

How does Monetrix mxHYPE's TVL compare to similar protocols?

Among Basis Trading protocols tracked by DefiLlama, Monetrix mxHYPE ranks #27 by TVL. The category holds $7.318b across 40 protocols, and Monetrix mxHYPE accounts for <0.1% of that total. Other leading protocols include Liminal Basis, Monetrix USDM, Ethena USDe, Falcon Finance, Solstice, BitFi Basis, Solv Basis Trading, Avant avUSD, Aster USDF, and Bitwise USCC.

How many yield pools does Monetrix mxHYPE have?

DefiLlama tracks 1 Monetrix mxHYPE yield pool with an average APY of 1.6%.