About Monetrix
Monetrix is a yield-bearing stablecoin protocol built natively on HyperEVM. The protocol issues USDM, a stablecoin pegged 1:1 to USDC, and sUSDM, its auto-compounding staked version. Users mint USDM by depositing USDC and stake it to sUSDM, with yield distributed through exchange rate appreciation rather than rebases. Yield comes from delta-neutral strategies executed directly on Hyperliquid’s orderbook. The protocol captures funding rates, HLP returns, maker rebates, and other Hyperliquid-native sources without any centralized exchange custody or off-chain execution. Every position is verifiable on-chain, which is the main differentiator against yield-bearing stablecoins that rely on opaque CEX-based strategies. Monetrix is built by the Hybra team and was audited through a Code4rena contest in April 2026. Funding details have not been publicly disclosed. The protocol is currently in its pre-launch phase, with the Genesis Signal campaign live ahead of the main Genesis opening.
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