Mantle has extended its real-world asset yield strategy beyond centralized finance with a new non-custodial stablecoin vault, marking a shift from its Bybit-distributed product to direct DeFi access. The move follows the earlier Mantle Vault crossing $200 million in assets under management on Bybit, where it launched in December 2025 with USDC and USDT deposits through Bybit Earn.
The DeFi version is available through Fluxion and combines infrastructure from CIAN and Grove. Users can deposit USDC or USDT0 while retaining control of their assets, rather than handing funds to a centralized custodian. Mantle said the strategy uses a conservative, non-leveraged structure designed by CIAN, with Grove connecting the vault to yield from the Sky ecosystem's sUSDS savings product.
Launch materials list a target APY of up to 6.5%, plus Fluxion Points and a 5.14 million GROVE token incentive allocation. Mantle stressed that the underlying return depends on Sky's governance-set savings rate, which can change, and that promotional rewards are not fixed cash returns. The product does not use leverage, but users remain exposed to smart-contract failures, stablecoin price movements, liquidity conditions and changes to Sky's rate.
Mantle's RWA and DeFi footprint has grown sharply in 2026. Nansen data cited in the announcement showed total DeFi TVL above $1 billion after 230% growth in the first half, RWA-focused TVL above $90 million, and Mantle's stablecoin market cap at $955 million, up 120% year over year. The network has also expanded tokenized equity offerings, including products linked to SpaceX and Franklin Templeton's U.S. Equity Index ETF.
The U.S. regulatory backdrop remains important. The GENIUS Act bars payment stablecoin issuers from paying interest directly, while debates continue over third-party yield programs. Mantle described the new vault's return as strategy-generated yield from sUSDS, with separate incentives from Fluxion Points and GROVE tokens, rather than interest paid by a stablecoin issuer.
