24h Change+0.7%
All Time HighOct 10, 2025$1.11
All Time LowOct 10, 2025$0.91
Market Cap$121.26m
Fully Diluted Valuation$121.26m
Circ. Supply118.39m THBILL
CEX Volume$0
DEX Volume$505,914
How much debt can be issued against THBILL as collateral across lending protocols.
Maximum possible exposure to THBILL
$926,087
$397,843 (max additional borrows against THBILL) + $528,244 (bad debt if THBILL was hacked now)
Morpho V1
$847,069 at-risk exposure = $511,249 bad debt if hacked + $335,820 additional borrowable against THBILL
Euler V2
$79,018 at-risk exposure = $16,995 bad debt if hacked + $62,023 additional borrowable against THBILL
Showing collateral exposure for THBILL 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 THBILL as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
thBILL0xfdd22ce6d1f66bc0ec89b20bf16ccb6670f55a5a | $182,918 | $4,247 | ||
thBILL0xfdd22ce6d1f66bc0ec89b20bf16ccb6670f55a5a | $146,518 | $377,063 | ||
thBILL0xfdd22ce6d1f66bc0ec89b20bf16ccb6670f55a5a | $62,023 | $16,995 | ||
thBILL0xfdd22ce6d1f66bc0ec89b20bf16ccb6670f55a5a | $6,384 | $129,939 | ||
thBILL0x5fa487bca6158c64046b2813623e20755091da0b | $0.11 | $1.03 |
Risk-management actions published about THBILL by tracked risk managers and governance contributors, newest first.
Market comparisons and internal modeling show thBILL's on-chain liquidity and volatility support a modest LLTV increase to align with competitive norms while preserving risk buffers.
thBILL supply on Arbitrum is $96, negligible compared to $100K demand, justifying offboarding for efficiency.
Demand for thBILL on Euler Arbitrum Yield has been weak and stagnant, while the new listing on Euler Theo has rapidly grown much larger. Delisting the Arbitrum Yield version enhances capital efficiency and shrinks the overall risk surface.
thBILL shows over $13M in cross-chain volume and $6.56M already supplied in the existing market; the new isolated market starts with conservative $10M supply and $9M borrow caps to match demand while monitoring liquidity on Arbitrum DEXes exceeding $9M.
thBILL is being onboarded to the new Euler Yield market on Arbitrum to enable capital-efficient stablecoin looping for delta-neutral yield strategies. This supports participation in Arbitrum's 80M ARB DRIP incentive program, which emphasizes stablecoin looping, with risk parameters to be set by Gauntlet and Objective Labs.
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Showing 10 of 11 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabTHBILL | 🪂 | $117.19m | 3.73% | 3.73% | 3.51% | ||||
| open in new tabTHUSD-THBILL-STABLEthUSD Genesis Vault - thBILL Stable | 🪂 | $66.87m | 0% | 0% | 0% | ||||
| open in new tabTHUSD-THBILL-ARBthUSD Genesis Vault - thBILL Arbitrum | 🪂 | $4.27m | 0% | 0% | 0% | ||||
| open in new tabTHBILL | 🪂 | $2.74m | 3.73% | 3.73% | 3.51% | ||||
| open in new tabTHBILL | 🪂 | $2.02m | 3.73% | 3.73% | 3.51% | ||||
| open in new tabTHBILL | 🪂 | $1.14m | 0% | 0% | 0% | ||||
| open in new tabUSDC-THBILL0.01% | $533,817 | 2.72% | 2.72% | 2.55% | |||||
| open in new tabTHBILL | $461,735 | 0% | 0% | ||||||
| open in new tabUSD₮0-THBILL0.01% | 🪂 | $256,852 | 0.31% | 0.31% | 0.53% | ||||
| open in new tabTHBILLEVK Vault ethBILL-2 | $108,858 | 0% | 0% | 3.86% |
Tracking 3 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabTHBILL ➞ WHYPE | 🪂 | $2m | -0.51% | 0% | -1.27% | 40% | $1.14m | $4,451 | |
| open in new tabTHBILL ➞ USD₮0 | 🪂 | $472,289 | -2.14% | 0% | -5.36% | 40% | $1.14m | $4,451 | |
| open in new tabTHBILL ➞ USDC | 🪂 | $107,116 | -1.09% | 0% | -2.73% | 40% | $1.14m | $4,451 |
