Inflows of $50 million in January pushed Bybit's Mantle Vault to over $150 million in assets under management, less than six weeks after its December 22 launch. The product crossed $100 million in early January and grew roughly 50% in the following four weeks. The capital movement coincides with volatile crypto markets that have swung between sharp rallies and pullbacks, compressing risk appetite and pushing funds toward defensive strategies.
Market-neutral strategy in focus
Mantle Vault generates yield without directional bets. It sources returns from Ethena staking, leveraged stablecoin lending on Aave V3, and protocol incentives, executed by strategy provider Cian and secured by audited smart contracts on Ethereum mainnet. The product is accessible via Bybit's On-Chain Earn interface, developed in partnership with Mantle.
Bybit reports current yields above 6% APR, with target returns ranging from 5–10% in weak markets to up to 25% in favorable periods. Actual results depend on DeFi market demand, incentive programs, and gas costs. There are no subscription fees, minimum entry is 10 USDT or USDC, and most withdrawals process within zero to three days.
CeDeFi gains traction
Mantle Vault belongs to the CeDeFi category — blending decentralized execution with centralized distribution. The model addresses a pain point: pure DeFi yield products often falter during volatility due to liquidity stress or user exit. Exchange-distributed products benefit from user trust and smoother capital flows. For Bybit, the vault also supports a broader strategy of diversifying beyond trading fees. As exchange volumes fluctuate, wealth management and yield solutions help keep capital on-platform.
Uncertainty remains
If market volatility persists, demand for market-neutral yield could stay strong. However, returns remain tied to Aave lending demand, Ethena and Mantle incentives, and broader DeFi conditions. Yield targets are not guarantees. Past APR does not guarantee future returns. Terms and conditions apply.