Mantle, Backed by Bybit, Expands To Real World Assets With Ondo’s USDY

Key Points:

• Mantle, a Bybit-supported Layer-2 network, is expanding into Real World Assets (RWA) by partnering with Ondo’s USDY stablecoin, marking a significant step towards bridging traditional finance and the decentralized world.
• USDY becomes the first Mantle Showcase project, offering a competitive 5% APY, and Mantle’s approved RWA liquidity pool of up to $60 million enhances the liquidity and accessibility of USDY within the decentralized ecosystem.

Mantle, a Layer-2 (L2) network supported by Bybit, has announced its expansion into Real World Assets (RWA) by partnering with Ondo’s USDY stablecoin. 

USDY is set to become the inaugural Mantle Showcase project, representing a yield stablecoin with a current Annual Percentage Yield (APY) of an impressive 5%. This stability and yield potential make USDY an attractive asset for cryptocurrency investors and DeFi enthusiasts.

One of the key developments enabling this expansion is Mantle’s MIP-26 approval. This proposal paves the way for the creation of an RWA liquidity pool with a capacity of up to $60 million, facilitating the integration of real-world assets into the Mantle ecosystem.

The significance of this expansion lies in the ease of access for on-chain investors. With USDY available on this platform, investors can seamlessly buy and sell the stablecoin within the platform. This integration not only enhances liquidity but also strengthens the utility and versatility of USDY within the cryptocurrency ecosystem.

The move towards incorporating real-world assets into the DeFi space underscores the growing interest in bridging the gap between traditional finance and blockchain technology. This initiative has the potential to open up new avenues for investors and users seeking stability and yield in the decentralized financial landscape.

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