State of Mantle Q1 2026

Key Update: Mantle continued building toward its thesis as the distribution layer for onchain finance, with Q1 product launches across RWAs, DeFi, stablecoins, and AI agents anchored by the CeDeFi model built with Bybit.

@Mantle_Official @Bybit_Official

QoQ Metrics📊

DeFi TVL ⬆️ 282.7% to $648.0M (all-time high) as Aave V3 scaled from $0 to $547.1M

RWA TVL ⬆️ 27.4% to $247.5M, led by Maple's syrupUSDT and the xStocks rollout

Mantle Vault TVL closed at $221.5M in its first full quarter

Mantle Treasury ⬇️ 25.1% to $2.4B, the largest DAO treasury

The Mantle Treasury also began diversifying as a $126.8M MI4 position cut MNT concentration from 94.3% to 90.0%.

Despite cooling headline metrics, 87% of Q1 activity came from returning addresses and transactions per address rose from 8.4 to 14.7, pointing to a loyal core engaging more intensively as Mantle's institutional infrastructure comes online.

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