---
title: "Hyperithm USDC Apex (hyperUSDCa) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/hyperusdca-hyperithm/"
description: "Build-time stablecoin profile for Hyperithm USDC Apex (hyperUSDCa). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-10-02"
---



# Hyperithm USDC Apex (hyperUSDCa)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Hyperithm USDC Apex turns USDC deposits into NAV-bearing shares in a Morpho Vault V2 on Monad. Its lending book includes concentrated and structured borrower collateral, so the USDC denomination does not make the share a direct cash claim. The reviewed vault has no configured liquidity adapter, leaving ordinary withdrawals dependent on idle USDC; force-deallocation and in-kind exits are separate routes. A two-of-three owner Safe can replace the curator, an externally owned account, while allocation changes have their own delays and fee changes do not. Share-transfer and direct-withdrawal gate setters are abdicated, although deposit gating remains mutable and underlying USDC can be frozen. Credit losses reduce shareholder NAV, and no exact-vault financial attestation or legal insolvency priority was established.

## Collateral

USDC in the Hyperithm-curated Morpho Vault V2 on monad, held idle or lent through its MorphoMarketV1AdapterV2; borrower collateral and credit losses remain local strategy exposure

## Peg Mechanism

ERC-4626 shares accrue net USDC lending interest and realize losses at NAV. Ordinary withdraw/redeem uses idle USDC and the configured liquidity adapter, subject to liquidity; force-deallocation and in-kind exits are separate, not guaranteed dollar settlement

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| monad | `0x78999cc96d2ba0341588c60ccb0e91c6c33cf371` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/hyperusdca-hyperithm.