MANTRA introduces a new savings vault with Ondo as its partner
MANTRA, a platform for tokenizing real-world assets (RWA), has recently introduced a new RWA savings vault backed by Ondo’s USDY. This collaboration aims to enhance liquidity in RWA tokenization, a growing sector in decentralized finance (DeFi) that has attracted significant attention from institutional investors.
To celebrate this liquidity milestone, MANTRA and the Ondo Foundation have launched a multi-chain vault that offers high-quality yields. Users who contribute USD Coin (USDC) to the vault will immediately gain access to these yields. Additionally, those who remain invested until MANTRA Chain’s mainnet launch will receive ONDO tokens and mainnet OM coins, along with the underlying yield. The vault is set to open to the public in June on Ethereum (ETH) and Base.
MANTRA’s objective is to combine DeFi composability with institutional-grade finance on the blockchain. USDY’s features, including over-collateralization, third-party oversight, and investor protections, make it a crucial asset in the growing RWA ecosystem. To effectively manage returns as participation increases, MANTRA and the Ondo Foundation have devised a schedule of increasing rewards based on community participation milestones.
Nathan Allman, CEO of Ondo Finance, expressed his excitement about the project, emphasizing the mission to bring institutional-grade assets to the world. He sees the USDY vault as a significant step towards bridging traditional finance and decentralized finance on a larger scale.
John Patrick Mullin, co-founder and CEO of MANTRA, also commented on the plan to create a highly liquid Layer-1 blockchain specifically designed for RWAs. Enabling Ondo USDY as a tokenized US treasury product expands MANTRA’s ecosystem and improves its on-chain liquidity profile. This product launch aligns with MANTRA Chain’s strategy to collaborate with leading RWA projects and create the most liquid Layer-1 blockchain for RWAs.
Furthermore, MANTRA is preparing to launch its new blockchain later this year, which will feature Ondo’s flagship tokenized note, USDY, as its genesis asset. USDY provides holders with exposure to short-term US Treasury yields while maintaining the benefits of stablecoins.
It is important to note that USDY is not registered under the US Securities Act and is therefore not available for sale in the US or to US citizens.