diff --git a/projects/theo-network/index.js b/projects/theo-network/index.js
index d0c63fe5ea..8fcc418549 100644
--- a/projects/theo-network/index.js
+++ b/projects/theo-network/index.js
@@ -1,21 +1,55 @@
 const { getConfig } = require('../helper/cache')
 
+// thBill token addresses
+const THBILL = {
+  ethereum: "0x5FA487BCa6158c64046B2813623e20755091DA0b",
+  arbitrum: "0xfdd22ce6d1f66bc0ec89b20bf16ccb6670f55a5a",
+  base: "0xfdd22ce6d1f66bc0ec89b20bf16ccb6670f55a5a",
+  hyperliquid: "0xfdd22ce6d1f66bc0ec89b20bf16ccb6670f55a5a"
+}
+
+// Chains where your vaults/vaultInfo endpoint applies (skip hyperliquid here)
+const CHAINS_WITH_VAULTS = ["ethereum", "arbitrum", "base", "linea"]
+const ETH_ADAPTER = "0xfdd22ce6d1f66bc0ec89b20bf16ccb6670f55a5a"
+
 const config = {
   ethereum: {},
   arbitrum: {},
   base: {},
   linea: {},
+  hyperliquid: {}
 }
 
 Object.keys(config).forEach(chain => {
   module.exports[chain] = {
     tvl: async (api) => {
-      const { [chain]: data } = await getConfig('theo-network', "https://vaults.theo.xyz/vaults/vaultInfo");
+      // vault balance
+      if (CHAINS_WITH_VAULTS.includes(chain)) {
+        const { [chain]: data } = await getConfig('theo-network', "https://vaults.theo.xyz/vaults/vaultInfo");
+
+        const calls = Object.values(data).map(i => i.contract)
+        const tokens = Object.values(data).map(i => i.asset)
+        const bals = await api.multiCall({ abi: 'uint256:totalBalance', calls })
+        api.add(tokens, bals)
+      }
+
+      // thBill balance
+      const addr = THBILL[chain]
+      if (!addr) return
+
 
-      const calls = Object.values(data).map(i => i.contract)
-      const tokens = Object.values(data).map(i => i.asset)
-      const bals = await api.multiCall({ abi: 'uint256:totalBalance', calls })
-      api.add(tokens, bals)
+      // for mainnet, subtract balance of adapter to avoid double counting
+      if (chain === "ethereum") {
+        const [totalSupply, locked] = await Promise.all([
+          api.call({ target: addr, abi: 'erc20:totalSupply' }),
+          api.call({ target: addr, abi: 'erc20:balanceOf', params: [ETH_ADAPTER] }),
+        ])
+        const effective = totalSupply - locked
+        if (effective > 0n) api.add(addr, effective)
+      } else {
+        const supply = await api.call({ target: addr, abi: 'erc20:totalSupply' })
+        api.add(addr, supply)
+      }
     }
   }
-})
\ No newline at end of file
+})