Stablecoin information
USDM is a delta-neutral, yield-bearing synthetic dollar on HyperEVM. It is backed by USDC collateral deployed into delta-neutral basis-trading positions (funding payments, HLP and borrow-lend yield) on Hyperliquid Core, and mints/redeems 1:1 against USDC.
Category:crypto-backed
Minting and Redemption
Users mint USDM 1:1 by depositing USDC, which the protocol deploys into delta-neutral positions on Hyperliquid Core. USDM can be staked for sUSDM to earn the strategy yield, and is redeemed back to USDC 1:1.
Audits:
Stablecoin usage by chain
| Name | Bridge | |||||
|---|---|---|---|---|---|---|
| 0.00% | -1.42% | -3.84% | -5.56% | 2.82m |