MANTRA Launches RWA Savings Vault Powered by Ondo’s USDY

3 min readMay 31, 2024


We’re thrilled to announce an incentivized RWA savings vault featuring Ondo’s USDY, a tokenized note secured by short-term US Treasuries and bank deposits. This launch will feature two of the biggest players in the RWA space building deep liquidity support for RWA tokenization, an area of decentralized finance (DeFi) that has seen significant institutional interest this year.

Building Liquidity Together

MANTRA will feature Ondo’s flagship interest-bearing tokenized note, USDY, as a genesis asset upon mainnet launch, expected later this year. USDY provides holders with exposure to short-term US Treasury yield while conveniently packaged within the familiar utility of stablecoins. (NOTE: USDY is not, and may not be, offered, sold or otherwise made available in the US or to US persons. USDY also has not been registered under the US Securities Act.)

John Patrick Mullin, CEO & Co-Founder of MANTRA, highlighted the significance of the integration: Enabling Ondo USDY, the market-leading tokenized US treasury product, marks a significant expansion of our ecosystem. Having a fungible interest-bearing base layer of liquidity via USDY is critical to enhancing our onchain liquidity profile. This cutting edge product launch is part of MANTRA Chain’s broader strategy to work closely with all leading RWA projects to create the most liquid Layer 1 blockchain purpose-built for RWAs.

Incentivized Vault for Early Supporters

To celebrate this liquidity milestone and reward early adopters, MANTRA and Ondo Foundation will incentivize a multi-chain USDY vault allowing contributors of USDC to gain access to low-risk, short-term US treasuries yield.

Additionally, those who remain invested until the MANTRA Chain mainnet launch will be rewarded with additional rewards — Ondo (ONDO) tokens and mainnet OM coins on top of the underlying yield. This vault is opening to the public in June 2024 on both Ethereum and Base Chain.

Interested users can sign up here:

(Note: This website is hosted outside of

Nathan Allman, CEO of Ondo Finance, remarked, We are excited to see the USDY vault launching on MANTRA, furthering our mission to bring institutional-grade assets to the world. This yield-bearing vault is an exciting step in our journey to bridge traditional finance and decentralized finance at scale.

Sustainable Rewards

To prevent reward dilution as more users participate, we have implemented a “ratcheting” reward schedule, with increasing rewards distributed as more community participation milestones are met.

MANTRA aims to bring composability and institutional-grade finance together onchain. Equally, USDY’s robust features, including blue-chip custodians, secure yield generation, and tokenized fungibility, offer a vital building block for the growing RWA ecosystem.

About Ondo Foundation

Ondo Foundation is a Cayman Islands Foundation Company whose mission is to usher in a new era of financial inclusivity and market efficiency through onchain institutional-grade financial products and services. Ondo Foundation is a nonprofit with no beneficial owners.

About Ondo Finance

Ondo Finance provides institutional-grade, blockchain-enabled investment products and services. Ondo has an asset management arm that creates and manages tokenized financial products as well as a technology arm that develops decentralized finance protocols and other blockchain solutions.

Ondo USDY is supported by both the Ondo Foundation and Ondo Finance.


MANTRA is a security-first RWA Layer 1 Blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.

MANTRA — From Institutions to Individuals: Bringing Finance Onchain. $OM #HomeForRWAs

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