Key Metrics
Fees 30d$25,854
Fees 30d by chain
Hyperliquid L1$25,854
Fees 7d$3,838
Hyperliquid L1$3,838
Fees 24h$396
Hyperliquid L1$396
Cumulative Fees$60,564
Hyperliquid L1$60,564
Revenue 30d$3,087.46
Revenue 30d by chain
Hyperliquid L1$3,087.46
Revenue 7d$576.36
Hyperliquid L1$576.36
Revenue 24h$59
Hyperliquid L1$59
Cumulative Revenue$6,436.01
Hyperliquid L1$6,436.01
Protocol Information
Monetrix is the first fully on-chain funding-driven yield-bearing stable token, native to Hyperliquid
Methodology
TVL: 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.View code on GitHubFees: Yield generated by the USDM vault's delta-neutral positions on Hyperliquid Core (funding payments, HLP and borrow-lend yield), measured at distribution via the MonetrixVault'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 a protocol reserve that backstops the system and is booked as supply-side revenue rather than protocol revenue.View code on GitHubYields
Pools Tracked1
Average Supply APY6%
Competitors
Frequently Asked Questions
What is Monetrix USDM's TVL?
Monetrix USDM currently has $2.54m in total value locked. TVL has increased 1.1% over the past 30 days.
What chains does Monetrix USDM operate on?
Monetrix USDM operates on Hyperliquid L1. Hyperliquid L1 holds the largest share at 100%.
How much has Monetrix USDM generated in fees and revenue?
Over the past 30 days, Monetrix USDM generated $25,854 in fees. Of that, $3,087.46 was protocol revenue. Based on the trailing year, the annualized rate is $236,143.23 in fees and $25,028.05 in revenue.
How does Monetrix USDM's TVL compare to similar protocols?
Among Basis Trading protocols tracked by DefiLlama, Monetrix USDM ranks #23 by TVL. The category holds $7.318b across 40 protocols, and Monetrix USDM accounts for <0.1% of that total. Other leading protocols include Liminal Basis, Monetrix mxHYPE, Ethena USDe, Falcon Finance, Solstice, BitFi Basis, Solv Basis Trading, Avant avUSD, Aster USDF, and Bitwise USCC.
How many yield pools does Monetrix USDM have?
DefiLlama tracks 1 Monetrix USDM yield pool with an average APY of 6%.