---
title: "Monetrix USD (USDM) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usdm-monetrix/"
description: "Build-time stablecoin profile for Monetrix USD (USDM). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-07-08"
---



# Monetrix USD (USDM)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Monetrix USDM is the base dollar token in a small HyperEVM yield stack: USDC backs liquid USDM, while sUSDM is the separate staking wrapper where the strategy exposure lives. That split matters because Pharos can admit USDM through DefiLlama supply plus CoinGecko pricing, but sUSDM still lacks a maintained market-cap and price source in the runtime pipeline. The reserve story is therefore straightforward but narrow: USDM inherits USDC issuer risk and Monetrix smart-contract/operations risk, while the dashboard transparency is self-reported rather than an independent attestation. It is useful coverage for HyperEVM dollar liquidity, not yet a fully modeled yield product.

## Collateral

USDC backing on HyperEVM; holders can stake USDM into the separate sUSDM wrapper for Monetrix strategy yield, but liquid USDM itself is the base dollar token.

## Peg Mechanism

USDM targets 1:1 USDC convertibility through Monetrix mint/redeem flows. The sUSDM staking wrapper accrues strategy yield separately and is not admitted as an active Pharos stablecoin until a maintained price and market-cap runtime source exists.

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| hyperevm | `0xe2d2959f89b6389deb624bf076fe7d9e5401f377` | 6 |

## Live Data

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