Mantle Stablecoin Vault Goes Non-Custodial After $200M Milestone
Mantle is opening up its stablecoin yield business to anyone with a wallet, moving a product that once lived exclusively inside a centralized exchange onto the open blockchain. The new Mantle stablecoin vault lets users deposit USDC or USDT0 directly into a non-custodial strategy, a shift that trades the convenience of a centralized exchange for full control over private keys. It arrives just months after the exchange-based version of the same product crossed $200 million in assets under management, giving Mantle a track record to lean on as it tests whether DeFi users will follow where CeFi customers already went.
Key takeaways
- Mantle expanded its real-world asset yield business from a Bybit-based centralized product into a non-custodial DeFi vault accessible through Fluxion.
- The earlier Bybit version of Mantle Vault had already surpassed $200 million in assets under management before the DeFi expansion.
- Depositors use USDC or USDT0 to gain exposure to yield tied to sUSDS, the savings version of Sky’s USDS stablecoin, with a target APY of up to 6.5% plus Fluxion Points and GROVE token incentives.
- The strategy was built by CIAN, sourced through Grove’s connection to the Sky Savings Rate, and accessed through Fluxion, with no leverage involved.
- U.S. availability depends on Fluxion’s compliance terms, and pending legislation could restrict passive stablecoin yield going forward.
Mantle launches non-custodial stablecoin vault in DeFi
Mantle’s latest move takes a proven product and strips out the middleman. The new vault, announced through Mantle’s Aug. 25 update and detailed in a PRNewswire release, extends Mantle Vault beyond its original home on Bybit into an open, self-custodial format built with Grove infrastructure, CIAN’s strategy design, and Fluxion’s access layer.
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