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Logo of MonetrixMonetrix
Total Value Locked$1.75m

TVL by Chain

Hyperliquid L1$1.75m

Protocol Information

Monetrix is the first fully on-chain funding-driven yield-bearing stable token, native to Hyperliquid

CategoryBasis Trading
WebsiteTwitter

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.View code on GitHub

Competitors

Liminal Basis ($27.22m)