24h Change+0.013%
All Time HighJun 1, 2026$1.06
All Time LowAug 10, 2025$0.94
Market Cap$47.7m
Fully Diluted Valuation$47.7m
Circ. Supply44.92m MTBILL
CEX Volume$0
DEX Volume$0
How much debt can be issued against MTBILL as collateral across lending protocols.
Maximum possible exposure to MTBILL
$2,698
$273.36 (max additional borrows against MTBILL) + $2,425 (bad debt if MTBILL was hacked now)
Morpho V1
$2,698 at-risk exposure = $2,425 bad debt if hacked + $273.36 additional borrowable against MTBILL
Showing collateral exposure for MTBILL on onchain. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
Each row is one protocol-chain exposure for MTBILL as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
mTBILL0xdd629e5241cbc5919847783e6c96b2de4754e438 | $268.03 | $2,422 | ||
mTBILL0xdd629e5241cbc5919847783e6c96b2de4754e438 | $5.33 | $3.05 |
Risk-management actions published about MTBILL by tracked risk managers and governance contributors, newest first.
mTBILL is being added as a yield-bearing asset in the new Euler T-Bill market to support capital allocation in tokenized fixed income, addressing growing institutional interest in money-market funds.
Midas mTBILL's TVL is just $4.2M across chains, with Ethereum supply at only ~$282k and Euler Prime vault at $3k. It introduces extra risk via a fixed 1:1 oracle that fails to protect against wrapper losses, and the official NAV oracle is unsuitable due to centralization.
Supply cap at 305% of circulating supply exceeds safe thresholds, increasing potential for overexposure; reduction to 40% mitigates this liquidity risk.
mTBILL from M^0 is introduced as a treasury bill-backed asset to enable low-risk yield carry trades, providing stable liquidity for users going long on ETH and BTC.
mTBILL is backed 1:1 by short-dated U.S. Treasury securities through a $13bn BlackRock ETF and features an institutional-grade German legal structure that is bankruptcy remote with securities agents and trustees.
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Tracking 2 pools, average APY 3.57%
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabMTBILLFor LP | Maturity 30JUL2026 | $52,928 | 3.77% | 3.77% | 3.21% | |||||
| open in new tabMTBILLFor buying PT-mTBILL-30JUL2026 | $52,928 | 3.37% | 3.37% | 3.42% |
