What is Monetrix?

Monetrix operates as a yield-bearing stablecoin protocol developed on the HyperEVM platform. The primary offering of this protocol is USDM, a stablecoin designed to maintain a 1:1 peg to USDC, along with its advanced counterpart sUSDM, which auto-compounds yields. Users can mint USDM by depositing USDC and subsequent staking into sUSDM. The yield generated through the platform is derived from changes in the exchange rate instead of conventional rebasing methods.

The yield generation process utilizes delta-neutral strategies that are implemented on the Hyperliquid order book. This enables the protocol to leverage funding rates, HLP returns, maker rebates, and other unique sources native to Hyperliquid without involving centralized exchanges for custody or off-chain execution. A key advantage of Monetrix over other yield-bearing stablecoins is that all operations are verifiable on-chain, ensuring transparency in its processes.

Developed by the Hybra team, Monetrix underwent a thorough audit via a Code4rena contest held in April 2026. While specific funding information has not been disclosed, it is essential to note that the protocol is currently in its pre-launch stage, with the Genesis Signal campaign actively engaging early participants ahead of the main Genesis launch.

Monetrix Airdrop Details

As of now, Monetrix has not officially announced a token airdrop. However, the ongoing Genesis Signal campaign presents a unique opportunity for participants to earn a Pioneer SBT (Soulbound Token) which offers early access to GEMs and benefits associated with the Genesis launch. This token is personalized with your X handle and serves as an on-chain recognition of your involvement prior to launch. The potential for this SBT to convert into future token allocations has yet to be clarified by the Monetrix team.

Participation in this campaign does not require any financial deposits, prior approvals, or gas expenditure. The process entails completing six missions, all of which revolve around social or gasless verification tasks. Successfully completing these missions will unlock the Pioneer SBT and provide five Genesis invite codes, which can be shared with others and may influence access to future Genesis benefits.

If you are interested in exploring additional projects that may issue governance tokens in future airdrops, consider reviewing our curated list of potential retroactive airdrops. This resource can be invaluable to those looking to stay ahead in the DeFi space.