Lido, the leading liquid staking platform for Ethereum, has partnered with Mellow to launch the stRATEGY Vault, a new yield product unveiled on November 6, 2025. This vault is part of Lido's expanding 'Earn' ecosystem and is built on Mellow's Core Vaults infrastructure, designed to provide institutional-grade modular architecture for on-chain structured products.
The stRATEGY Vault offers a single-deposit solution, allowing users to deposit ETH, WETH, or wstETH (wrapped stETH) and receive strETH tokens in return. These tokens represent the user's share in the vault and accrue yield generated from automated allocations to established DeFi protocols, including Aave for lending/looping strategies, Ethena for synthetic dollar strategies, and Uniswap for liquidity provision.
A key incentive is the introduction of Mellow Points, which accrue proportionally to the user's investment size and duration. From November 6 to December 3, 2025, points are awarded at a tripled rate of 0.00075 points per dollar per hour to encourage early adoption. The vault applies a 1% annual platform fee (AUM) and a 10% performance fee on profits, both reflected in the strETH token price.
Mellow's Core Vaults, launched simultaneously, provide a programmable framework with features like granular controls, risk isolation, and plug-and-play integrations for DeFi and centralized exchanges. stETH is positioned as the flagship asset, leveraging its dominance in Ethereum's liquid staking market. Nick S., founder of Mellow, commented, 'Structured products are going to be the native language of institutional DeFi,' while Jakov Buratović of the Lido Ecosystem Foundation highlighted the vault's role in simplifying diversified strategy access.
This development aligns with growing institutional inflows into Ethereum, fueled by spot ETH ETFs and regulatory clarity under frameworks like MiCA, consolidating fragmented yield opportunities into a trustless, user-friendly framework.
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