Mantle Network and Bybit Asset Integration
The relationship between Mantle Network and Bybit is characterized by a deep integration of assets and liquidity, positioning Mantle as a primary distribution layer for both centralized and decentralized finance. While specific details regarding a "Mantle Index Four" were not present in the available data, the ecosystem has recently seen significant migrations and integrations of Bybit-owned or supported assets into Mantle's on-chain environment.
Bybit Mantle Vault and Asset Migration
A central component of the asset flow between the two entities is the
Bybit Mantle Vault, which launched in December 2025
1. This product facilitates a seamless CeFi-to-DeFi flow by allowing Bybit users to deposit stablecoins (USDC or USDT) directly into Mantle-native yield strategies
1.
Key aspects of this integration include:
- Milestone Achievement: By January 2026, the Mantle Vault reached $100 million in total value locked (TVL), cementing Bybit's role as a premier gateway for on-chain yield 2.
- Strategic Partnership: The vault is powered by CIAN, which abstracts complex yield strategies into simplified vaults, utilizing Mantle's low-cost Layer-2 architecture for execution 1.
- Community Assets: Mantle currently hosts over $4 billion in community-owned assets, serving as a bridge between traditional finance (TradFi) and on-chain liquidity 3.
Integration of Real-World Assets (RWAs)
Bybit has further expanded the migration of assets to Mantle by enabling support for tokenized real-world assets, specifically gold.
- XAUT (Tether Gold): In January 2026, Bybit enabled deposits and withdrawals for XAUT on the Mantle network 45.
- Asset Backing: Each XAUT token is backed 1:1 by one troy ounce of physical gold held in secure vaults by Tether 45.
- Efficiency: This integration allows users to move gold-backed assets between Bybit's centralized exchange and Mantle's decentralized environment with lower transaction costs and faster settlement compared to the Ethereum mainnet 45.
Ecosystem Context and Performance
The migration of these assets occurs against a backdrop of significant network growth and recovery for Mantle:
- User Growth: In Q3 2025, Mantle saw an 85.2% quarter-over-quarter increase in average daily new addresses 6.
- Market Capitalization: The circulating market cap recovered to $5.7 billion by the end of Q3 2025, a 189.8% increase from Q3 2024 levels 7.
- DeFi Dominance: As of late 2025, the Mantle DeFi ecosystem was dominated by AGNI Finance (34.9% market share) and Merchant Moe (30.0% market share), which together accounted for over 66% of the network's TVL 8.