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What is Monetrix

Sustainable Yield — real protocol revenue, not incentive farming

Monetrix is a delta-neutral stable-token protocol built natively on Hyperliquid. It issues two tokens:

  • USDM: a dollar-pegged stable token, minted 1:1 against USDC.

  • sUSDM: a yield-bearing receipt you get when you stake USDM.

USDM is the stable unit; sUSDM is how you earn yield. Holding USDM alone does not accrue yield. You must stake it.

Backing

USDM is not backed by fiat reserves. When you mint, the USDC is deployed into a delta-neutral portfolio on Hyperliquid:

  • Long spot collateral (BTC, ETH, etc.) earning on-chain lending yield.

  • Matched short perpetual positions hedging the price exposure.

  • All positions live on Hyperliquid, fully visible and verifiable in real time.

Long spot + short perp cancel out, so the portfolio has no directional price exposure. It earns yield from the structural flows the protocol participates in (funding, lending, maker rebates, HLP).

What makes this design different

  • 100% on-chain execution. No custodial risk, no off-exchange settlement, no trust in a centralized venue.

  • Multi-source yield. Four uncorrelated streams instead of single-source funding capture. See Yield Composition.

  • Native to Hyperliquid. Portfolio Margin, deep orderbook, HLP, and high funding rates all compound into the yield. See Why Hyperliquid.

  • Native Anti-ADL Shield. Hardcoded on-chain defense against extreme market stress. See Anti-ADL Shield.

How yield reaches you

Yield accrues to sUSDM's exchange rate, not to USDM. When you stake USDM you receive sUSDM at the current rate. Over time, each sUSDM becomes worth more USDM. When you unstake (after a cooldown) you receive USDM at the then-current rate.

No staking rewards to claim, no manual compounding. The rate does the work.

Mint USDM with USDC, then stake to earn. See the Guide.

Who it's for

  • DeFi users looking for a stable, verifiable, yield-bearing alternative to USDC/USDT that outperforms TradFi rates.

  • Treasuries and DAOs that need a cash-like on-chain asset with transparent backing.

  • Ecosystem protocols on Hyperliquid that want a yield-bearing stable as collateral or quote asset.

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