Mantle launches non‑custodial RWA yield vault on DeFi

Mantle announced a new on‑chain vault that lets stablecoin holders earn yield from real‑world assets (RWA) without handing custody to a centralized exchange. The product, previously offered through Bybit, is now accessible via the Fluxion interface and uses a non‑leveraged, transparent strategy.

How the vault works

Depositors can supply USDC or USDT0 through Fluxion and retain control of their private keys. The vault routes these assets to a strategy designed by CIAN, which packages positions in a visible on‑chain vault. Yield is generated from sUSDS, the savings version of Sky’s USDS stablecoin, and is linked to Sky’s governance‑controlled savings rate.

Key participants

• CIAN – designs and packages the non‑leveraged strategy.
• Grove – connects the vault to Sky’s Savings Rate and to governance‑approved credit strategies.
• Fluxion – provides the user interface and smart‑contract interaction layer.

Yield and incentives

The launch materials cite a target annual percentage yield (APY) of up to 6.5 %. In addition, participants can earn promotional rewards in the form of Fluxion Points and 5.14 million GROVE tokens. These rewards are not fixed cash returns and depend on campaign rules and token market prices.

Risk considerations

While the vault does not use leverage, users remain exposed to smart‑contract risk, stablecoin price fluctuations, liquidity conditions, and potential changes to Sky’s governance‑set savings rate. Self‑custody means users must manage their own keys and approve all contract interactions.

Context and growth

The Bybit‑based version of the Mantle Vault previously amassed over $200 million in assets under management. Mantle’s broader DeFi ecosystem has seen rapid growth in 2026, with total DeFi value locked on the network exceeding $1 billion and RWA‑focused TVL reported above $90 million. Stablecoin liquidity on Mantle reached $955 million, a 120 % year‑over‑year increase.

Regulatory notes for U.S. users

Access for U.S. residents depends on Fluxion’s terms and applicable federal and state regulations. Current U.S. legislative proposals, such as the CLARITY Act, aim to restrict passive yield on stablecoin balances while permitting activity‑based rewards.