Mantle Expands DeFi Access for Stablecoin Yield Product

Mantle has expanded its Vault product to users in decentralized finance (DeFi), allowing them to deposit stablecoins USDC and USDT to access variable yields. The expansion comes after the Vault already surpassed $200 million in assets under management through Bybit, a well-known cryptocurrency exchange.

The vault strategy was built by CIAN in coordination with Grove, and it includes exposure to sUSDS, a yield-bearing token from Sky Protocol. This structure does not use leverage and is made possible through infrastructure provided by CIAN, Grove, and Fluxion. Users can access this product on Mantle, which provides an onchain interface to the Sky Savings Rate.

Mantle is also introducing an incentive program that contains 5.14 million GROVE tokens. This program targets yields of up to 6.5% Annual Percentage Yield (APY), although rates and incentives may vary depending on market conditions.