Hyphen

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

Biconomy TVL is the USD value of token balances in the Hyphen 2.0 contracts.

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

Hyphen's governance or utility token carries a market capitalisation of 18 Mio. $ based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token (18 Mio. $) above the protocol's on-chain TVL (100.361 $) — a mcap/TVL multiple of 179.30× implies investors are paying for expected future fee flows rather than current deposits alone.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Wichtige Ereignisse, die von der DeFiLlama-Community markiert wurden — Protokoll-Launches, Exploits, Governance-Änderungen und Anreizprogramme.

1. Mar 24, 2022
   Auf DeFiLlama gelistet
2. Dec 31, 2024
   Biconomy decommissions Hyphen
3. May 7, 2022
   UST depeg

Hyphen is a Bridge protocol that moves assets and messages between blockchains, locking value on the source chain and minting or releasing a representation on the destination. It is deployed across 6 chains, including Polygon, Arbitrum, Ethereum, Binance and 2 other chains. The codebase has been independently audited (2 reports on file). DeFiLlama tracks 2 historical events for this protocol since 2022.

Hyphen runs a multi-chain deployment, with smart contracts live on 6 networks. TVL is comparatively balanced across networks: even the largest deployment (Polygon) holds only 38% of the protocol's value. Two audit reports are published on DeFiLlama, which is in line with typical practice for protocols at this scale. Its token market cap (18 Mio. $) currently exceeds total value locked (100.361 $) — a mcap/TVL ratio of 179.30 suggests the market is pricing in more growth than current deposits support.

Verified external resources for Hyphen — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Hyphen is one of 7 Bridge protocols Mantapex tracks in this category. Direct peers ranked by total value locked include WBTC, Coinbase Bridge, Binance Bitcoin, and 3 more. These peer protocols collectively secure 30,4 Mrd. $ in deposits, giving you a frame of reference for whether Hyphen's own TVL is at the top, middle, or tail of the category.

WBTC

TVL 8,7 Mrd. $ · 24h +0.07%

Coinbase Bridge

TVL 5,4 Mrd. $ · 24h +0.61%

Binance Bitcoin

TVL 5,1 Mrd. $ · 24h +0.14%

Hyperliquid Bridge

TVL 4,5 Mrd. $ · 24h +0.55%

USDT0

TVL 4,2 Mrd. $ · 24h +1.96%

JustCryptos

TVL 2,4 Mrd. $ · 24h +0.44%