MANTRA Launches RWA Savings Vault Powered by Ondo’s USDY

MANTRA, a layer-1 blockchain focused on real‑world asset (RWA) tokenization, has launched an incentivized RWA savings vault in partnership with Ondo Finance, built around Ondo’s USDY tokenized note. USDY is an interest‑bearing token backed by short‑term U.S. Treasuries and bank deposits, designed to provide Treasury‑style yield while retaining the on‑chain utility of a stablecoin‑like asset. MANTRA plans to make USDY a genesis asset of the MANTRA Chain mainnet, expected to go live later in 2024, embedding yield‑bearing dollar exposure into the base liquidity of its RWA‑focused ecosystem. To bootstrap liquidity and attract early users, MANTRA and the Ondo Foundation are offering a multi‑chain USDY vault that accepts USDC and allocates it into USDY, giving contributors access to low‑risk short‑term Treasury yield. Users who keep funds in the vault until MANTRA Chain’s mainnet launch will earn additional incentives in the form of ONDO tokens and MANTRA’s mainnet OM coins on top of the vault’s underlying yield. The vault is being rolled out on Ethereum and Base from June 2024, with a tiered rewards structure intended to preserve returns as participation scales. Strategically, the collaboration aims to deepen on‑chain liquidity for tokenized RWAs and advance the bridge between traditional fixed‑income markets and DeFi, an area attracting increasing institutional interest.

✨ AI-generated background, compiled from web sources — not editorial content.

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• USDC
• Real World Assets
• Ondo Finance
• Vaults