Monetrix USDM
USDMCrypto-backed USD-pegged Rank #175
Price
—
Market Cap
$2.57M
Market Cap
$2.57M
Dominance
0.00%
of market
Price
—
% Off Peg
—
24h Supply
-0.71%
7d Supply
+2.12%
30d Supply
-0.05%
Networks
1
chains
Circulating Supply
Total USDM across all chains
$2.80M
$2.35M
Jul 4, 2026
Sep 3, 2026
Chain Distribution
Current supply by network
Hyperliquid L1
$2.57M 100.0%
About Monetrix USDM
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.
Mint & redeem
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.
Links & references
Official website View on DefiLlama View on CoinGecko Twitter / X DefiLlama wiki Audit / transparency
Contract hyperl…f377
