Mint USDM

Deposit USDC, get USDM. The rate is always 1:1. Minting by itself does not earn yield; for that, see Stake USDM.

Prerequisites

• Wallet connected to HyperEVM.

• Some USDC on HyperEVM.

• A small amount of HYPE for gas.

Steps

Minting takes two transactions: approve, then mint.

1. Enter the amount

Open the Mint page and enter how much USDC you want to convert. The app shows:

• Your USDC balance.

• A Max button to fill your full balance.

• A Process indicator listing Approve → Mint USDM.

2. Approve USDC (first time only)

If this is your first time minting (or if your previous approval is less than the current amount) the button will say Approve USDC. Click it and confirm in your wallet.

This allows the Monetrix Vault contract to move USDC from your wallet during the mint.

Approve is per-amount. If you approved 80 USDC before and now want to mint 100 USDC, you'll be asked to approve again.

3. Mint USDM

Once the approval is confirmed, the button changes to Mint USDM. Click and confirm in your wallet.

The transaction calls MonetrixVault.deposit(amount). If it succeeds:

• amount USDC is transferred to the vault.

• You receive exactly amount USDM (1:1 ratio).

• A toast confirms with a link to the HyperEVM explorer.

4. Verify

Your USDM balance should update. You can also check the transaction on the HyperEVM explorer via the toast link.

What can cause a mint to fail

The frontend pre-checks these conditions before sending the transaction. If any fail you'll see a toast instead of a transaction prompt:

• Vault is paused: the protocol is in an emergency paused state.

• Minimum deposit: your amount is below the protocol minimum.

• Maximum deposit: your amount is above the per-transaction cap.

• TVL cap reached: your mint would push total USDM supply above the protocol's TVL cap.

These values are read from the MonetrixConfig contract at the time of your transaction, so they reflect live protocol settings.

After minting

Holding USDM does not earn yield on its own. To start earning, go to Stake USDM.

If you only want to exit back to USDC, see Redeem USDM. Note the redeem path has a cooldown.