<\/p>\n
mUSD will offer yield from U.S. Treasury Bills and bank deposit interest via rebasing<\/p>\n
Mantle, an Ethereum Layer 2 network, is the latest web3 team to embrace real-world assets in the form of U.S Treasury Bonds.<\/p>\n
On Dec. 4, Mantle deployed<\/a> its mUSD stablecoin, comprising a rebasing version of USDY from Ondo Finance. USDY is a yield-bearing stablecoin described as a \u201ctokenized note secured by short-term U.S. Treasuries and bank demand deposits.\u201d<\/p>\n USDY went live in August, offering<\/a> yields derived from U.S. treasury bills and banks deposit interest to holders. USDY went live<\/a> on Mantis in early November.<\/p>\n mUSD comprises a Mantis-native wrapped version of USDY that distributes yield by minting new token units. The stablecoin currently offers annual percentage yields of roughly 4%.<\/p>\n Mantis\u2019s MNTIS token is up nearly 4% over the past 24 hours, according to CoinGecko.<\/p>\n mUSD\u2019s launch comes as U.S. Treasury Bills have emerged as a popular vehicle for accessing exposure to yields derived from real-world assets (RWAs) on-chain.<\/p>\n MakerDAO was the flag-bearer for embracing real-world assets in web3, with its RWA portfolio growing<\/a> from $17M to $2.8B since the start of 2022, including more than $2.35B worth of U.S. Treasury Bills. With RWAs driving more than 80%<\/a> of MakerDAO\u2019s revenue as of July, a plethora of web3 projects have since moved to embrace U.S. t-bills.<\/p>\n Last week, Web3 Foundation, the organization behind Polkadot, deployed a$1M pilot<\/a> investment into U.S. Treasury Bills via Anemoy, a Centrifuge Chain<\/a>-based asset issuer. The Web3 Foundation said it plans to increase its allocation in the future.<\/p>\n However, 10-year U.S. treasury bond yields are down15%<\/a> since tagging a 15-year high of 5% in late October, according to TradingView. Arthur Hayes, the co-founder of BitMEX, attributed<\/a> the trend to increasing U.S. military expenditures in support of both Ukraine and Israel\u2019s military conflicts, noting that some institutional entities had already moved to reduce exposure to U.S. t-bills.<\/p>\n Start for free<\/a><\/div>\n mUSD comprises the second product launch announced by Mantle this week, with the project also deploying a permissionless and non-custodial Ethereum Liquid Staking Protocol (LSP) on Dec. 4.<\/p>\n Mantle LSP users will receive the new Mantle Staked Ether (mETH) liquid staking token, a yield-bearing ERC-20 token representing their staked Ether that automatically accrues rewards. MNTIS is up 13% over the past seven days following the new product launches.<\/p>\n Mantle hopes to capture market share away from Lido, the largest liquid staking protocol with a 32.25%<\/a> dominance over the supply of staked Ether, according to Dune Analytics.<\/p>\n Many analysts have criticized<\/a> Lido for failing to self-limit its dominance despite researchers warning<\/a> that a single entity controlling more than one-third of staked Ether could threaten the decentralization of the Ethereum network.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" mUSD will offer yield from U.S. Treasury Bills and bank deposit interest via rebasing Mantle, an Ethereum Layer 2 network, is the latest web3 team to embrace real-world assets in the form of U.S Treasury Bonds. On Dec. 4, Mantle deployed its mUSD stablecoin, comprising a rebasing version of USDY from Ondo Finance. USDY is […]<\/p>\n","protected":false},"author":2,"featured_media":131226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-207406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/207406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=207406"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/207406\/revisions"}],"predecessor-version":[{"id":207407,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/207406\/revisions\/207407"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/131226"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=207406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=207406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=207406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}On-chain U.S. Treasury Bills<\/h2>\n
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Mantle moves into liquid staking<\/h2>\n