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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% | +0.03% | +10.19% | -0.59% | 3.1m |
