Mantle opens $200 million Vault product to DeFi users

Mantle has expanded Mantle Vault into decentralized finance, opening its stablecoin yield product beyond Bybit to users on Mantle through infrastructure from Grove, CIAN and Fluxion. The product had already surpassed $200 million in assets under management through Bybit. Its DeFi expansion allows users to deposit USDC and USDT0 to access variable yield generated by the underlying strategy. CIAN built the vault strategy in coordination with Grove. The structure includes exposure to sUSDS, the yield bearing token from Sky Protocol, and does not use leverage. Fluxion provides access and liquidity infrastructure for users on Mantle. Mantle is also introducing an incentive program containing 5.14 million GROVE tokens, targeting yields of up to 6.5% APY. Rates and incentives may vary depending on market conditions. The expansion comes as Mantle grows its real world asset business. RWA TVL on the network has increased from $22 million to $257 million over the past year, while total DeFi TVL has surpassed $755 million. Grove provides access to Grove Savings, its onchain interface to the Sky Savings Rate. CIAN manages the portfolio construction and yield infrastructure, while Fluxion connec...