MANTRA introduces Ondo as the partner for its latest RWA savings vault
MANTRA, a platform that tokenizes real-world assets (RWA), has introduced a groundbreaking RWA savings vault backed by Ondo’s USDY. This collaboration between two prominent players in the RWA sector aims to enhance liquidity for RWA tokenization, a facet of decentralized finance (DeFi) that has been attracting significant institutional interest.
To celebrate this liquidity milestone, MANTRA and the Ondo Foundation are offering incentives through a multi-chain vault. Users who contribute USD Coin (USDC) to the vault will gain immediate access to high-quality yields. Additionally, those who stay 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 mission is to merge DeFi composability with institutional-grade finance on-chain. USDY’s features, such as over-collateralization, third-party oversight, and institutional-grade investor protections, make it a crucial asset for 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, stating, “We are thrilled to see the USDY vault launching 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, co-founder and CEO of MANTRA, also commented on the plan to create the most liquid Layer-1 blockchain specifically designed for RWAs. He said, “Enabling Ondo USDY, the leading tokenized US treasury product, is a significant expansion of our ecosystem. Having a fungible interest-bearing base layer of liquidity through USDY is crucial to enhancing our on-chain liquidity profile. This cutting-edge product launch is part of MANTRA Chain’s broader strategy to collaborate closely with leading RWA projects and build the most liquid Layer-1 blockchain purpose-built for RWAs.”
MANTRA’s upcoming blockchain, scheduled to launch later this year, will feature Ondo’s flagship interest-bearing tokenized note, USDY, as its genesis asset. USDY provides holders with exposure to short-term US Treasury yields while retaining the utility of stablecoins. It’s important to note that USDY is not available for sale in the US or to US citizens as it is not registered under the US Securities Act.
