MANTRA RWA L1 Introduces Incentivized USDY Vault for Stable Yields backed by US Treasury Bills

MANTRA, a leading RWA-focused Layer 1 blockchain announced today the official launch of its hotly anticipated RWA vault featuring Ondo’s USDY stablecoin. With this instrument, cryptocurrency owners will be able to benefit from yield instruments backed by short-term U.S. Treasuries.

MANTRA and Ondo Finance introduce USDY incentivized vault with 5.3% APY and additional Token Rewards

Per the official statement by the MANTRA and Ondo Finance teams, a USDY vault and a liquidity machine based on the eponymous stablecoin, finally kicks off with 5.3% in yield for its providers, with additional rewards promised in $OM and $ONDO tokens.

Featuring Ondo Finance's USDY yieldcoin, the MANTRA USDY vault offers a compelling alternative to traditional financial instruments. 

Participants earn yield on their holdings, while USDY maintains the flexibility and convenience associated with stablecoins. The USDY vault provides complete transparency around the underlying assets in its portfolio, fostering a high level of trust and security for investors.

Besides a lucrative current APY of 5.3%, which is higher than for the majority of stablecoin-based yield initiatives, Ondo Foundation and MANTRA have incentivized the vault with bonuses in their respective native cryptocurrencies.  

ONDO tokens and OM coins will be sent to stakers once MANTRA mainnet goes live

Mainnet OM coins will be distributed among MANTRA ecosystem participants once the network hits mainnet.

Nathan Allman, CEO of Ondo Finance, remarked:

We are excited to see the USDY vault now live on MANTRA, furthering our mission to bring institutional-grade assets to the world. This yield-bearing vault is an exciting step in our journey to bridge traditional finance and decentralized finance at scale

John Patrick Mullin, CEO and Co-Founder of MANTRA expressed his enthusiasm, stating:

The USDY vault launch represents a strategic advancement for MANTRA within the real world asset (RWA) tokenization space. By introducing this unique solution, we are strategically expanding the yield portfolio available to crypto participants. This empowers them to seamlessly integrate our RWA yield-bearing product into their DeFi strategies. Our collaboration with Ondo Finance serves to bolster our ecosystem, in line with our long-term vision of establishing a scalable infrastructure for RWA tokenization.

The launch of the USDY vault launch marks a significant milestone for MANTRA on the road to bridging traditional finance (TradFi) with the broader blockchain economy through RWA tokenization.