Monetrix USDM
Total Value Locked$2.43m
TVL by Chain
Hyperliquid L1$2.43m
Key Metrics
Fees 30d$24,607
Fees 30d by chain
Hyperliquid L1$24,607
Fees 7d$4,100
Hyperliquid L1$4,100
Fees 24h$917
Hyperliquid L1$917
Cumulative Fees$65,581
Hyperliquid L1$65,581
Revenue 30d$3,185.46
Revenue 30d by chain
Hyperliquid L1$3,185.46
Revenue 7d$614
Hyperliquid L1$614
Revenue 24h$138
Hyperliquid L1$138
Cumulative Revenue$7,188.01
Hyperliquid L1$7,188.01
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 APY9.54%
Competitors
Frequently Asked Questions
What is Monetrix USDM's TVL?
Monetrix USDM currently has $2.43m in total value locked. TVL has decreased 0.3% 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 $24,607 in fees. Of that, $3,185.46 was protocol revenue. Based on the trailing year, the annualized rate is $233,686.73 in fees and $25,477.76 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 $7.611b 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, Bitwise USCC, and Aster USDF.
How many yield pools does Monetrix USDM have?
DefiLlama tracks 1 Monetrix USDM yield pool with an average APY of 9.5%.