Mantle Network Accumulates $880 Million in Stablecoins and Tokenized Assets

The network’s liquidity is dominated by stablecoins, which account for approximately $550 million of the total, while tokenized assets represent $330 million. USDT0 serves as the primary pillar of this ecosystem, commanding roughly 80% of the stablecoin supply at $440 million. While the network supports seven different stablecoins, this concentration highlights a reliance on a single dollar-linked asset for the bulk of its liquidity.

Beyond stablecoins, Mantle has aggressively scaled its tokenized equity catalog, growing from 10 products in April to 155 by late June. This selection now encompasses instruments linked to private and public companies, including exposure to SpaceX and various ETFs. However, the legal nature of these assets varies significantly; some products offer synthetic price exposure without granting direct ownership or shareholder rights, requiring investors to scrutinize individual terms rather than assuming a uniform structure.

To capture further growth, Mantle recently transitioned its RWA vault from a centralized offering via Bybit to a self-custodial DeFi model. By integrating with Fluxion, CIAN, and the Sky ecosystem, the network now allows users to earn yields on stablecoin deposits through non-leveraged strategies. While this removes certain liquidation risks associated with leveraged positions, participants remain exposed to smart-contract vulnerabilities and fluctuating savings rates set by protocol governance.