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Bybit launched Mantle Vault with CIAN Protocol, offering on-chain USDT and USDC yields through automated strategies on Mantle Network.
Author: Tanishq Bodh
December 22, 2025 — Crypto exchange Bybit has launched Mantle Vault, a new on-chain yield product built with Mantle Network and CIAN Protocol. The vault allows users to earn stablecoin yields directly through Bybit’s On-Chain Earn interface.
The product went live this week with support for USDT and USDC. Bybit advertises an initial annual percentage rate of 8.5%, with a long-term target range of 7–12%, depending on market conditions. The launch reflects a growing effort to route centralized exchange liquidity into automated DeFi strategies.
Early user feedback suggests strong interest. Community posts highlighted the vault’s one-click deposits and focus on stablecoin returns during a volatile market phase. While the launch did not include a new token, it reinforced Mantle’s role as a distribution layer for hybrid CeFi–DeFi products.
Mantle’s ecosystem now holds more than $2.2 billion in total value locked. Analysts view Mantle Vault as another signal that structured, yield-focused products are moving on-chain in institutional-style formats.
Despite the attractive yields, the product carries clear constraints. Withdrawals require a 5–7 day processing period, which limits short-term liquidity. The strategies also rely on leveraged positions involving USDe and sUSDe, which introduce smart contract and liquidation risk.
Returns are not guaranteed. Market stress, protocol changes, or disruptions in lending markets could reduce yields. Observers also note that tighter regulation may follow as exchanges deepen on-chain integrations.
CIAN Protocol powers the vault through automated allocation tools. The system routes deposited stablecoins into leveraged strategies on the Aave lending protocol. Users do not manage leverage manually.
The vault also offers potential Ethena points and future incentive programs. Mantle Network provides the execution layer, which lowers fees and improves transaction speed compared to Ethereum mainnet.
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Mantle Vault highlights a broader shift toward exchange-integrated DeFi products that hide technical complexity. By combining Bybit’s user base, Mantle’s Layer 2 infrastructure, and CIAN’s automation tools, the vault targets stablecoin holders seeking passive yield.
As global stablecoin supply exceeds $300 billion, products like this may shape how centralized platforms onboard users into on-chain finance. Long-term adoption will depend on performance, transparency, and regulatory outcomes.
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