Cian Founder to Discuss CeDeFi Integration at Mantle State of Mind Event

**Mantle Vault has surpassed $200 million in total value locked (TVL)**, marking a significant milestone for the stablecoin yield platform. The vault, a collaboration between Bybit, Mantle, and CIAN protocol, offers users: - **7%+ APY on stablecoins** through automated strategies - One-click access via Bybit's On-Chain Earn platform - Support for USDC and USDT deposits The platform utilizes auto-leveraged strategies on Aave, routing deposits into USDe and sUSDe positions to generate boosted yields. Users can also earn Ethena points and additional incentives, though withdrawals require a 57-day waiting period. This TVL milestone demonstrates growing adoption of automated DeFi yield strategies among stablecoin holders seeking returns beyond traditional savings rates.

**Cian Protocol announced a two-stage plan to build on Aave Mantle:** **Stage 1: Immediate Migration** - Moving billion-dollar yield strategies to Aave Mantle - Lower borrow rates on Mantle create better net yields - Key assets (Ethena, Maple, Kelp) already deployed **Stage 2: RWA Infrastructure** - Building new interest-bearing RWA strategies over coming months - Leveraging Bybit and Mantle's tens of billions in deployable capital - Redesigning DeFi primitives to accommodate institutional-scale RWA The team believes RWA will dominate lending markets within two years as the gap between on-chain and off-chain economies closes. Cian, an early builder of RWA yield strategies, is positioning Aave Mantle as the infrastructure layer for this transition.

**3Jane's USD3 stablecoin** currently holds $21.04M entirely in USDC on Aave, with a backing ratio of 1.159 (above 1:1). The traceable backing structure is straightforward - a single Aave USDC position. **Key risk**: The sUSD3 component involves unsecured lending, making verification more challenging. Phase 2 plans may introduce additional unsecured lending allocations, though timing remains unscheduled. The backing exceeds the combined USD3/sUSD3 value of $18.15M, indicating overcollateralization within current tracking parameters.

Bondify has mapped the underlying assets for several yield-bearing stablecoins including cUSD, iUSD, srUSDe, thBILL, and USD3. The platform aims to provide users with greater transparency and safety by tracking how these stablecoins generate yield. Many USD stablecoins now offer yield-bearing versions through staking or savings mechanisms, which can be further wrapped into fixed-maturity instruments like Pendle PT. **Key Points:** - Bondify is tracking underlying assets for major yield-bearing stablecoins - Focus on creating a safer, more traceable investment environment - Yield-bearing stablecoins represent 6% of total stablecoin market but could reach 50% - Combined market cap of top five yield-bearing stablecoins grew from $4B to $13B post-US election This transparency initiative comes as yield-bearing stablecoins gain traction, with JPMorgan analysts projecting significant market expansion driven by yield generation, custody maintenance, and collateral use cases.