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Monetrix

Independent page by Dinero en la Mesa · not the official Monetrix website
Early · farming pointsHyperliquid (HyperEVM)Synthetic dollarlow difficultyhigh risk
Earlyfarming points
Maturedate or token
Collectcollect it now
Between seasonsthe next one
1 · What you farm
Points
The only figure they give is the multiplier: 10x for providing liquidity to their vaults.
Building up152 daysno closing date announced
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What's at stake
The program, and the offers that expire
The airdrop program
  • the yield lives inside sUSDM: there is nothing to collect, the redemption rate grows. And USDM is minted 1:1 from USDC and can be redeemed back
How to take part, step by step
How to get the most out of Monetrix
  1. 1
    Bring USDC to the HyperEVM network and connect an EVM wallet there.
  2. 2
    Mint USDM by depositing USDC. The ratio is 1:1.
  3. 3
    Stake that USDM to receive sUSDM. Without this step there is no yield: yield accrues in the sUSDM exchange rate.
  4. 4
    If you want the only published multiplier, provide liquidity to the sUSDM/USDM pool on Hybra Finance: that is 10x points, per the official channel. It adds the risk of a second contract on top.
  5. 5
    Count on a 3-day wait to exit, and add it to whatever plan you have for that money.
  6. 6
    Follow the announcement channel and the X account: the points rate and any cut-off date are not in the documentation and, if they appear, they will appear there first.
Watch out for
  • The team signs only with pseudonyms: Leo (founder), Syc and Kane, presented as the Hybra team. No legal entity, no investors and no custodian published.
  • The contracts are upgradeable. A single UPGRADER role can replace all nine proxies after a 48-hour delay; ADMIN sits at 48 hours and GOVERNOR at 24.
  • The OPERATOR role moves funds instantly, with no delay: bridging, hedging, the yield pipeline and redemptions. The audit documentation itself describes it as a trusted hot wallet, not a trust-minimised actor.
  • Only one published audit, the Code4rena contest from 24-Apr to 4-May-2026 with a 22,000 USD pool. The public report lists 0 high findings and 1 medium, on borrow liabilities omitted from backing. The FAQ speaks of audits in the plural, but only that one is on record.
  • The only published points multiplier points to Hybra Finance, which the team page itself presents as the team's home. Incentives concentrate in a product run by the same people.
  • 2.41M USD in value locked on 18-Aug-2026 per DefiLlama, Basis Trading category. That is a small size and the yield depends on Hyperliquid funding rates, which can turn negative.
  • There is no confirmed token and no published conversion for the points. The tokenomics page declares itself pre-TGE and leaves percentages, vesting schedules and amounts undefined.
  • Exiting takes time: a 3-day wait both to unstake and to redeem into USDC, and governance can change that period. The alternative is selling on a decentralised exchange at whatever price is there.
  • The terms name no excluded country, but reserve the right to block wallets, jurisdictions and activities under internal policy, with no published list.
Our verdict, today

sUSDM earns from the inside: the vault hedges the collateral with short perpetuals and what it earns raises the redemption price; USDM is minted 1:1 with USDC. There is also a tasks page that adds points. The play: provide liquidity to their pools, which scores 10x.

How the points are allocated

The Genesis phase was a pre-deposit campaign. The official announcement channel set it at…
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  • The Genesis phase was a pre-deposit campaign. The official announcement channel set it at 30 days and then shortened it: it ended up at 14 days and closed on 10-Jun-2026, the day USDM went live on mainnet.
  • Declared gap: they do not publish how many points each USDM earns, on what basis, whether there is a cap, or whether there will be a cut-off or snapshot date. It is not in the documentation, the announcement channel or the audit repository.
  • The only published multiplier is 10x points for providing liquidity to the sUSDM/USDM pools on Hybra Finance, announced on the official channel after launch. They do not give the base it multiplies.
  • Yield only accrues with sUSDM. The FAQ says it plainly: plain USDM earns nothing, it is a stable receipt. Anyone who mints and does not stake stays outside the yield.
  • There was a deposit cap and it moved. The official channel reported 2M USD filled in roughly one week from launch and then announced the raise to 5M USD. On 18-Aug-2026 DefiLlama measures 2.41M USD, well below the cap: there is room to enter.
  • The waits are 3 days, both to unstake and to redeem into USDC. For unstaking, the exchange rate that counts is the one at request time, not at collection. Governance sets both periods and they are read from the config contract.
  • Neither minting fees nor entry or exit minimums are published anywhere in the documentation.
  • Watch out for two namesakes: the github.com/aileks/monetrix repository has no relation to this project, and the USDM ticker matches that of a different stablecoin on Cardano.

They do not publish how many points each USDM gives, under what heading, whether there is a cap or a cut-off date. It is not in their docs, their announcements channel, or the audit repository. Verified on Aug 18, 2026.

  • What do I get? They publish no yield figure and no points or token allocation, if there is one.
  • How do you earn it? They publish no points programme: neither what activity counts nor its weight.
  • How often do they credit? They publish no snapshot or award cadence. Checked in their site. 27 Aug
  • What day does it expire? They publish no cut-off, closing or collection date. Checked in their site. 27 Aug
  • What do you need to get in? They publish no minimum and no KYC requirement.
  • Who is excluded? They publish no excluded-country list and no regional restriction. Checked in their site. 27 Aug
  • What does it cost? They publish no fee schedule in their docs. Checked in their site. 27 Aug
  • Is there a token, and what does someone joining with my link get? They publish no token, TGE or referral terms. Checked in their site. 27 Aug

What has changed since we started tracking it

29 Oct · we said everything the vault earns goes into the sUSDM price → Monetrix no longer…
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  • 29 Oct · we said everything the vault earns goes into the sUSDM price → Monetrix no longer says «all»: the stakers’ share of earnings goes into the sUSDM price.
  • 26 Aug · no published points rate → Their whole documentation re-read on 26-Aug-2026: they still do not publish how many points each USDM earns, on what basis, whether there is a cap or a cut-off. The gap stands and we say so.
  • 25 Aug · we had it on record that they had no referral programme → They do: the code comes from the dashboard. It was not in their documentation, which is where we were looking.
  • 18 Aug · 2M USD cap filled within a week during June → 2.41M USD deposited, with the cap at 5M USD
  • 27 Jun · Deposit cap of 2M USD, already full → Deposit cap raised to 5M USD
  • 10 Jun · Genesis phase announced as 30 days of pre-deposit → Genesis shortened to 14 days and closed when USDM went live

Who can join

No excluded country or region is published. The terms only state that it may not be used w…
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No excluded country or region is published. The terms only state that it may not be used where the law forbids it, and that access may be restricted for wallets or jurisdictions under internal policy.

Who they are

No investors, legal entity or custodian published. The team appears only under pseudonyms…
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No investors, legal entity or custodian published. The team appears only under pseudonyms, presented as the Hybra team.

What is verifiable is the Code4rena audit with a public contracts repository. What decides whether farming pays off, the points rate, is published nowhere.

Sources we have checked

Docs: doc.monetrix.xyz X: x.com/monetrix_xyz Discord: discord.gg/JGbgPEVqpW Checked by us…
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Docs: doc.monetrix.xyz

X: x.com/monetrix_xyz

Discord: discord.gg/JGbgPEVqpW

Checked by us in these sources on 2026-11-09

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